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).
The historical rank and industry rank for IFS Capital Holdings (Thailand) PCL's Net Current Asset Value or its related term are showing as below:
BKK:IFS-R'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.55 Med: 0.97 Max: 1.88
Current: 0.55
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of IFS Capital Holdings (Thailand) PCL was 1.88. The lowest was 0.55. And the median was 0.97.
BKK:IFS-R's Price-to-Net-Current-Asset-Value is ranked better than 88.89% of 279
companies
in the Credit Services industry
Industry Median: 2.11
vs BKK:IFS-R: 0.55
IFS Capital Holdings (Thailand) PCL (BKK:IFS-R) 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.
IFS Capital Holdings (Thailand) PCL Net Current Asset Value Related Terms
IFS Capital Holdings (Thailand) PCL Net Current Asset Value Historical Data
* 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.
IFS Capital Holdings (Thailand) PCL Net Current Asset Value Chart
BKK:IFS-R vs V, MA, AXP: Net Current Asset Value Comparison
For the Credit Services subindustry, IFS Capital Holdings (Thailand) PCL'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.
IFS Capital Holdings (Thailand) PCL Price-to-Net-Current-Asset-Value vs Credit Services Industry
For the Credit Services industry and Financial Services sector, IFS Capital Holdings (Thailand) PCL's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where IFS Capital Holdings (Thailand) PCL'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 ฿3.35 mean?
IFS Capital Holdings (Thailand) PCL (BKK:IFS-R) has a Net Current Asset Value of ฿3.35 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on IFS Capital Holdings (Thailand) PCL and its competitors. This is 245% above median its historical median of 0.97. Over the past decade, IFS Capital Holdings (Thailand) PCL's Net Current Asset Value has ranged from 0.55 to 1.88. According to the industry distribution chart, IFS Capital Holdings (Thailand) PCL ranks #31 out of 279 companies in the Credit Services industry, placing it in the top 11.1%.
Is IFS Capital Holdings (Thailand) PCL's Net Current Asset Value too high?
IFS Capital Holdings (Thailand) PCL's current Net Current Asset Value of ฿3.35 is 245% above median its 10-year median of 0.97. Over the past 10 years, this metric has ranged from a low of 0.55 to a high of 1.88. Based on the distribution chart, IFS Capital Holdings (Thailand) PCL ranks #31 out of 279 companies in the Credit Services industry, which is in the top quartile — a strong position relative to peers. Overall, IFS Capital Holdings (Thailand) PCL has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does IFS Capital Holdings (Thailand) PCL's Net Current Asset Value compare to V and MA?
According to the Credit Services industry distribution chart, IFS Capital Holdings (Thailand) PCL ranks #31 out of 279 companies for Net Current Asset Value. This places IFS Capital Holdings (Thailand) PCL in the top 11% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 2.11. Historically, IFS Capital Holdings (Thailand) PCL's own Net Current Asset Value has ranged from 0.55 to 1.88 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 2.11, based on 279 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 IFS Capital Holdings (Thailand) PCL and its competitors. For the Credit Services industry, the median Net Current Asset Value is 2.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IFS Capital Holdings (Thailand) PCL's current Net Current Asset Value is ฿3.35, which is 245% above median its own 10-year median of 0.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IFS Capital Holdings (Thailand) PCL stock overvalued right now?
IFS Capital Holdings (Thailand) PCL (BKK:IFS-R) has a current Net Current Asset Value of ฿3.35. The stock's GF Value™ is ฿2.74, compared to a current price of ฿1.89 — trading 31% below its estimated fair value. The current Net Current Asset Value is ฿3.35, which is 245% above median its 10-year median of 0.97. IFS Capital Holdings (Thailand) PCL's overall GF Score™ is 71/100 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 IFS Capital Holdings (Thailand) PCL (BKK:IFS-R), the current Net Current Asset Value is ฿3.35 as of Mar. 2026. 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 IFS Capital Holdings (Thailand) PCL (BKK:IFS-R) Overvalued in 2026?
Based on GuruFocus' analysis, IFS Capital Holdings (Thailand) PCL stock appears to be undervalued.
The current stock price of ฿1.89 is trading 31% below its estimated GF Value™ of ฿2.74.
Key valuation signals for BKK:IFS-R:
Net Current Asset Value: ฿3.35 (245% above median its 10-year median of 0.97)
GF Value™: ฿2.74 vs. price of ฿1.89 (31% below fair value)
No single metric tells the full story. See the BKK:IFS-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
IFS Capital Holdings (Thailand) PCL Business Description
IFS Capital Holdings (Thailand) PCL is a Thailand-based company which is involved in three business segments. A factoring business is a short-term loan that provides liquidity to the business immediately and enables the business to increase its turnover in the form of buying accounts receivable. The factoring facility applies to both domestic and international sales. Hire purchase and finance leasing businesses are long-term loans for investment in the business industry. Others encompass a range of activities from corporate decisions, income, and expenses not attributed to the business segments described. The majority of revenue is derived from Factoring Business.
71GF Score
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