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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).
Mahachai Hospital PCL's net current asset value per share for the quarter that ended in Mar. 2026 was ฿-46.70.
The historical rank and industry rank for Mahachai Hospital PCL's Net Current Asset Value or its related term are showing as below:
BKK:M-CHAI's Price-to-Net-Current-Asset-Value is not ranked *
in the Healthcare Providers & Services industry.
Industry Median: 5.81 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Mahachai Hospital PCL (BKK:M-CHAI) 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.
Mahachai Hospital PCL Net Current Asset Value Related Terms
Mahachai Hospital PCL Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Mahachai Hospital PCL'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.
Mahachai Hospital PCL Net Current Asset Value Chart
BKK:M-CHAI vs HCA, THC, DVA: Net Current Asset Value Comparison
For the Medical Care Facilities subindustry, Mahachai Hospital 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.
Mahachai Hospital PCL Price-to-Net-Current-Asset-Value vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Mahachai Hospital PCL's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Mahachai Hospital 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 ฿-46.70 mean?
Mahachai Hospital PCL (BKK:M-CHAI) has a Net Current Asset Value of ฿-46.70 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 Mahachai Hospital PCL and its competitors. According to the industry distribution chart, Mahachai Hospital PCL ranks #999999 out of 270 companies in the Healthcare Providers & Services industry.
Is Mahachai Hospital PCL's Net Current Asset Value too high?
Mahachai Hospital PCL's current Net Current Asset Value is ฿-46.70. Based on the distribution chart, Mahachai Hospital PCL ranks #999999 out of 270 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, Mahachai Hospital PCL has a GF Score™ of 70/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Mahachai Hospital PCL's Net Current Asset Value compare to HCA and THC?
According to the Healthcare Providers & Services industry distribution chart, Mahachai Hospital PCL ranks #999999 out of 270 companies for Net Current Asset Value. This places Mahachai Hospital PCL in the lower half of its industry. The industry median Net Current Asset Value is 5.81. 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 Healthcare Providers & Services company?
The median Net Current Asset Value among Healthcare Providers & Services companies is 5.81, based on 270 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 Mahachai Hospital PCL and its competitors. For the Healthcare Providers & Services industry, the median Net Current Asset Value is 5.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mahachai Hospital PCL's current Net Current Asset Value is ฿-46.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mahachai Hospital PCL stock overvalued right now?
Based on GuruFocus' analysis, Mahachai Hospital PCL (BKK:M-CHAI) is currently considered Possible Value Trap. The stock's GF Value™ is ฿28.68, compared to a current price of ฿18.70 — trading 34.8% below its estimated fair value. The current Net Current Asset Value is ฿-46.70. Mahachai Hospital PCL's overall GF Score™ is 70/100 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 Mahachai Hospital PCL (BKK:M-CHAI), the current Net Current Asset Value is ฿-46.70 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 Mahachai Hospital PCL (BKK:M-CHAI) Overvalued in 2026?
Based on GuruFocus' analysis, Mahachai Hospital PCL stock appears to be undervalued.
The current stock price of ฿18.70 is trading 34.8% below its estimated GF Value™ of ฿28.68.
GuruFocus considers Mahachai Hospital PCL to be Possible Value Trap.
Key valuation signals for BKK:M-CHAI:
Net Current Asset Value: ฿-46.70
GF Value™: ฿28.68 vs. price of ฿18.70 (34.8% below fair value)
No single metric tells the full story. See the BKK:M-CHAI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mahachai Hospital PCL is a Thailand-based company offering medical services. It operates in the hospital and medical trading business. The company is engaged in operating a private hospital under the name of Mahachai Hospital. It offers various medical services, including a urology clinic, blood and cancer clinic, surgery, obstetrics and gynecology, ear, nose, and throat clinic, general clinic, dental and implants center, skin and beauty center, and physical department. The company operates in Thailand only.
70GF Score
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