In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Channel Infrastructure NZ's net current asset value per share for the quarter that ended in Dec. 2025 was A$-1.15.
The historical rank and industry rank for Channel Infrastructure NZ's Net Current Asset Value or its related term are showing as below:
ASX:CHI's Price-to-Net-Current-Asset-Value is not ranked *
in the Oil & Gas industry.
Industry Median: 3.945 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Channel Infrastructure NZ (ASX:CHI) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Channel Infrastructure NZ Net Current Asset Value Related Terms
Channel Infrastructure NZ Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Channel Infrastructure NZ's Net Current Asset Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Channel Infrastructure NZ Net Current Asset Value Chart
ASX:CHI vs VLO, MPC, PSX: Net Current Asset Value Comparison
For the Oil & Gas Refining & Marketing subindustry, Channel Infrastructure NZ's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Channel Infrastructure NZ Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Channel Infrastructure NZ's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Channel Infrastructure NZ's Price-to-Net-Current-Asset-Value falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Net Current Asset Value of A$-1.15 mean?
Channel Infrastructure NZ (ASX:CHI) has a Net Current Asset Value of A$-1.15 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Channel Infrastructure NZ and its competitors. According to the industry distribution chart, Channel Infrastructure NZ ranks #999999 out of 296 companies in the Oil & Gas industry.
Is Channel Infrastructure NZ's Net Current Asset Value too high?
Channel Infrastructure NZ's current Net Current Asset Value is A$-1.15. Based on the distribution chart, Channel Infrastructure NZ ranks #999999 out of 296 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Channel Infrastructure NZ has a GF Score™ of 43/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Channel Infrastructure NZ's Net Current Asset Value compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Channel Infrastructure NZ ranks #999999 out of 296 companies for Net Current Asset Value. This places Channel Infrastructure NZ in the lower half of its industry. The industry median Net Current Asset Value is 3.95. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for an Oil & Gas company?
The median Net Current Asset Value among Oil & Gas companies is 3.95, based on 296 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Channel Infrastructure NZ and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Channel Infrastructure NZ's current Net Current Asset Value is A$-1.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Channel Infrastructure NZ stock overvalued right now?
Based on GuruFocus' analysis, Channel Infrastructure NZ (ASX:CHI) is currently considered Significantly Overvalued. The stock's GF Value™ is A$1.48, compared to a current price of A$2.63 — trading 77.7% above its estimated fair value. The current Net Current Asset Value is A$-1.15. Channel Infrastructure NZ's overall GF Score™ is 43/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Channel Infrastructure NZ (ASX:CHI), the current Net Current Asset Value is A$-1.15 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Channel Infrastructure NZ (ASX:CHI) Overvalued in 2026?
Based on GuruFocus' analysis, Channel Infrastructure NZ stock appears to be overvalued.
The current stock price of A$2.63 is trading 77.7% above its estimated GF Value™ of A$1.48.
GuruFocus considers Channel Infrastructure NZ to be Significantly Overvalued.
Key valuation signals for ASX:CHI:
Net Current Asset Value: A$-1.15
GF Value™: A$1.48 vs. price of A$2.63 (77.7% above fair value)
No single metric tells the full story. See the ASX:CHI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Channel Infrastructure NZ Ltd is an independent fuel infrastructure company. The company utilizes the deep-water harbour and jetty infrastructure at Marsden Point to receive, store and distribute imported refined fuel, which is owned by customers. The company operates in one reportable segment, Infrastructure, which comprises of fuels import terminal system (including jetty infrastructure at Marsden Point, storage tanks, and the Marsden Point to Auckland pipeline), the Wiri land and terminal leases, and the fuel testing laboratories.
43GF Score
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