HarmoneyASX:HMY 38 Net Current Asset Value is A$0.12 as of Dec. 2025, which is 100% below its 10-year median of 2.88. GuruFocus rates ASX:HMY with a GF Score™ of 38/100 and a GF Value™ of A$0.58 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 277 Credit Services companies, Harmoney ranks worse than 79.78% on this metric.
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).
Harmoney's net current asset value per share for the quarter that ended in Dec. 2025 was A$0.12.
The historical rank and industry rank for Harmoney's Net Current Asset Value or its related term are showing as below:
ASX:HMY'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.45 Med: 2.88 Max: 7.58
Current: 6.33
During the past 5 years, the highest Price-to-Net-Current-Asset-Value Ratio of Harmoney was 7.58. The lowest was 1.45. And the median was 2.88.
ASX:HMY's Price-to-Net-Current-Asset-Value is ranked worse than 79.78% of 277
companies
in the Credit Services industry
Industry Median: 2.14
vs ASX:HMY: 6.33
Harmoney (ASX:HMY) 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.
Harmoney Net Current Asset Value Related Terms
Harmoney Net Current Asset Value Historical Data
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The historical data trend for Harmoney'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.
ASX:HMY vs V, MA, AXP: Net Current Asset Value Comparison
For the Credit Services subindustry, Harmoney'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.
Harmoney Price-to-Net-Current-Asset-Value vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Harmoney's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Harmoney'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$0.12 mean?
Harmoney (ASX:HMY) has a Net Current Asset Value of A$0.12 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 Harmoney and its competitors. This is 96% below median its historical median of 2.88. Over the past decade, Harmoney's Net Current Asset Value has ranged from 1.45 to 7.58. According to the industry distribution chart, Harmoney ranks #221 out of 277 companies in the Credit Services industry, placing it in the top 79.8%.
Is Harmoney's Net Current Asset Value too high?
Harmoney's current Net Current Asset Value of A$0.12 is 96% below median its 10-year median of 2.88. Over the past 10 years, this metric has ranged from a low of 1.45 to a high of 7.58. Based on the distribution chart, Harmoney ranks #221 out of 277 companies in the Credit Services industry, which is in the bottom quartile relative to peers. Overall, Harmoney has a GF Score™ of 38/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harmoney's Net Current Asset Value compare to V and MA?
According to the Credit Services industry distribution chart, Harmoney ranks #221 out of 277 companies for Net Current Asset Value. This places Harmoney in the lower half of its industry. The industry median Net Current Asset Value is 2.14. Historically, Harmoney's own Net Current Asset Value has ranged from 1.45 to 7.58 over the past decade. 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 a Credit Services company?
The median Net Current Asset Value among Credit Services companies is 2.14, based on 277 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 Harmoney and its competitors. For the Credit Services industry, the median Net Current Asset Value is 2.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harmoney's current Net Current Asset Value is A$0.12, which is 96% below median its own 10-year median of 2.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harmoney stock overvalued right now?
Based on GuruFocus' analysis, Harmoney (ASX:HMY) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.58, compared to a current price of A$0.76 — trading 31% above its estimated fair value. The current Net Current Asset Value is A$0.12, which is 96% below median its 10-year median of 2.88. Harmoney's overall GF Score™ is 38/100 with 5 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 Harmoney (ASX:HMY), the current Net Current Asset Value is A$0.12 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 Harmoney (ASX:HMY) Overvalued in 2026?
Based on GuruFocus' analysis, Harmoney stock appears to be overvalued.
The current stock price of A$0.76 is trading 31% above its estimated GF Value™ of A$0.58.
GuruFocus considers Harmoney to be Significantly Overvalued.
Key valuation signals for ASX:HMY:
Net Current Asset Value: A$0.12 (96% below median its 10-year median of 2.88)
GF Value™: A$0.58 vs. price of A$0.76 (31% above fair value)
No single metric tells the full story. See the ASX:HMY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harmoney Corp Ltd operates in the consumer credit industry. It provides customers with secured and unsecured personal loans that are easy to access, competitively priced using risk-adjusted interest rates, and accessed completely online. Geographically, the group generates maximum revenue from its business in Australia, and the rest from New Zealand.
38GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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