Modernform Group PCLBKK:MODERN -0.98%57 Net Current Asset Value is ฿1.56 as of Mar. 2026, which is 100% below its 10-year median of 2.23. GuruFocus rates BKK:MODERN with a GF Score™ of 57/100 and a GF Value™ of ฿2.06 (Fairly Valued). The stock has 6 warning signs investors should review. Among 285 Furnishings, Fixtures & Appliances companies, Modernform Group PCL ranks better than 84.21% 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).
Modernform Group PCL's net current asset value per share for the quarter that ended in Mar. 2026 was ฿1.56.
The historical rank and industry rank for Modernform Group PCL's Net Current Asset Value or its related term are showing as below:
BKK:MODERN'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.29 Med: 2.23 Max: 5.42
Current: 1.29
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Modernform Group PCL was 5.42. The lowest was 1.29. And the median was 2.23.
BKK:MODERN's Price-to-Net-Current-Asset-Value is ranked better than 84.21% of 285
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 3.62
vs BKK:MODERN: 1.29
Modernform Group PCL (BKK:MODERN) 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.
Modernform Group PCL Net Current Asset Value Related Terms
Modernform Group PCL Net Current Asset Value Historical Data
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The historical data trend for Modernform Group 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.
Modernform Group PCL Net Current Asset Value Chart
BKK:MODERN vs SN, SGI, MHK: Net Current Asset Value Comparison
For the Furnishings, Fixtures & Appliances subindustry, Modernform Group 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.
Modernform Group PCL Price-to-Net-Current-Asset-Value vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Modernform Group PCL's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Modernform Group 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 ฿1.56 mean?
Modernform Group PCL (BKK:MODERN) has a Net Current Asset Value of ฿1.56 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 Modernform Group PCL and its competitors. This is 30% below median its historical median of 2.23. Over the past decade, Modernform Group PCL's Net Current Asset Value has ranged from 1.29 to 5.42. According to the industry distribution chart, Modernform Group PCL ranks #45 out of 285 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 15.8%.
Is Modernform Group PCL's Net Current Asset Value too high?
Modernform Group PCL's current Net Current Asset Value of ฿1.56 is 30% below median its 10-year median of 2.23. Over the past 10 years, this metric has ranged from a low of 1.29 to a high of 5.42. Based on the distribution chart, Modernform Group PCL ranks #45 out of 285 companies in the Furnishings, Fixtures & Appliances industry, which is in the top quartile — a strong position relative to peers. Overall, Modernform Group PCL has a GF Score™ of 57/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Modernform Group PCL's Net Current Asset Value compare to SN and SGI?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Modernform Group PCL ranks #45 out of 285 companies for Net Current Asset Value. This places Modernform Group PCL in the top 16% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 3.62. Historically, Modernform Group PCL's own Net Current Asset Value has ranged from 1.29 to 5.42 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 Furnishings, Fixtures & Appliances company?
The median Net Current Asset Value among Furnishings, Fixtures & Appliances companies is 3.62, based on 285 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 Modernform Group PCL and its competitors. For the Furnishings, Fixtures & Appliances industry, the median Net Current Asset Value is 3.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Modernform Group PCL's current Net Current Asset Value is ฿1.56, which is 30% below median its own 10-year median of 2.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Modernform Group PCL stock overvalued right now?
Based on GuruFocus' analysis, Modernform Group PCL (BKK:MODERN) is currently considered Fairly Valued. The stock's GF Value™ is ฿2.06, compared to a current price of ฿2.02 — trading 1.9% below its estimated fair value. The current Net Current Asset Value is ฿1.56, which is 30% below median its 10-year median of 2.23. Modernform Group PCL's overall GF Score™ is 57/100 with 6 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 Modernform Group PCL (BKK:MODERN), the current Net Current Asset Value is ฿1.56 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 Modernform Group PCL (BKK:MODERN) Overvalued in 2026?
Based on GuruFocus' analysis, Modernform Group PCL stock appears to be undervalued.
The current stock price of ฿2.02 is trading 1.9% below its estimated GF Value™ of ฿2.06.
GuruFocus considers Modernform Group PCL to be Fairly Valued.
Key valuation signals for BKK:MODERN:
Net Current Asset Value: ฿1.56 (30% below median its 10-year median of 2.23)
GF Value™: ฿2.06 vs. price of ฿2.02 (1.9% below fair value)
No single metric tells the full story. See the BKK:MODERN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Modernform Group PCL is involved in the manufacturing and distribution of home and office furniture. The business of the group is operated through four reportable segments: furniture business, furniture fitting and other materials business, rental and service business, and architectural design and construction business. A majority of its revenue is generated from the furniture business, which consists of office furniture products, residential furniture products, kitchen furniture products; bathroom furniture products, and others. All the operations functioned throughout the region of Thailand.
57GF 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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