Netbay PCLBKK:NETBAY -1.02%78 Net Current Asset Value is ฿1.83 as of Mar. 2026, which is 100% below its 10-year median of 16.66. GuruFocus rates BKK:NETBAY with a GF Score™ of 78/100 and a GF Value™ of ฿21.54 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,756 Software companies, Netbay PCL ranks worse than 54.61% 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).
Netbay PCL's net current asset value per share for the quarter that ended in Mar. 2026 was ฿1.83.
The historical rank and industry rank for Netbay PCL's Net Current Asset Value or its related term are showing as below:
BKK:NETBAY'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 5.33 Med: 16.66 Max: 44.06
Current: 5.33
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of Netbay PCL was 44.06. The lowest was 5.33. And the median was 16.66.
BKK:NETBAY's Price-to-Net-Current-Asset-Value is ranked worse than 54.61% of 1756
companies
in the Software industry
Industry Median: 4.7
vs BKK:NETBAY: 5.33
Netbay PCL (BKK:NETBAY) 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.
Netbay PCL Net Current Asset Value Related Terms
Netbay PCL Net Current Asset Value Historical Data
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The historical data trend for Netbay 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.
BKK:NETBAY vs CRM, SHOP, UBER: Net Current Asset Value Comparison
For the Software - Application subindustry, Netbay 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.
Netbay PCL Price-to-Net-Current-Asset-Value vs Software Industry
For the Software industry and Technology sector, Netbay PCL's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Netbay 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 ฿1.83 mean?
Netbay PCL (BKK:NETBAY) has a Net Current Asset Value of ฿1.83 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 Netbay PCL and its competitors. This is 89% below median its historical median of 16.66. Over the past decade, Netbay PCL's Net Current Asset Value has ranged from 5.33 to 44.06. According to the industry distribution chart, Netbay PCL ranks #959 out of 1756 companies in the Software industry, placing it in the top 54.6%.
Is Netbay PCL's Net Current Asset Value too high?
Netbay PCL's current Net Current Asset Value of ฿1.83 is 89% below median its 10-year median of 16.66. Over the past 10 years, this metric has ranged from a low of 5.33 to a high of 44.06. Based on the distribution chart, Netbay PCL ranks #959 out of 1756 companies in the Software industry, which is below the industry midpoint. Overall, Netbay PCL has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Netbay PCL's Net Current Asset Value compare to CRM and SHOP?
According to the Software industry distribution chart, Netbay PCL ranks #959 out of 1756 companies for Net Current Asset Value. This places Netbay PCL in the lower half of its industry. The industry median Net Current Asset Value is 4.70. Historically, Netbay PCL's own Net Current Asset Value has ranged from 5.33 to 44.06 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 Software company?
The median Net Current Asset Value among Software companies is 4.70, based on 1,756 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 Netbay PCL and its competitors. For the Software industry, the median Net Current Asset Value is 4.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Netbay PCL's current Net Current Asset Value is ฿1.83, which is 89% below median its own 10-year median of 16.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netbay PCL stock overvalued right now?
Based on GuruFocus' analysis, Netbay PCL (BKK:NETBAY) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿21.54, compared to a current price of ฿9.75 — trading 54.7% below its estimated fair value. The current Net Current Asset Value is ฿1.83, which is 89% below median its 10-year median of 16.66. Netbay PCL's overall GF Score™ is 78/100 with 3 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 Netbay PCL (BKK:NETBAY), the current Net Current Asset Value is ฿1.83 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 Netbay PCL (BKK:NETBAY) Overvalued in 2026?
Based on GuruFocus' analysis, Netbay PCL stock appears to be undervalued.
The current stock price of ฿9.75 is trading 54.7% below its estimated GF Value™ of ฿21.54.
GuruFocus considers Netbay PCL to be Significantly Undervalued.
Key valuation signals for BKK:NETBAY:
Net Current Asset Value: ฿1.83 (89% below median its 10-year median of 16.66)
GF Value™: ฿21.54 vs. price of ฿9.75 (54.7% below fair value)
No single metric tells the full story. See the BKK:NETBAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Netbay PCL is a Thailand-based company engaged in the provision and development of computer software used in the transmission of information electronically. The company creates, designs, and develops a digital business technology platform and omnichannel connectivity gateway. It operates in two segments: The e-Business segment, which develops an e-Business product in the form of services (SaaS: Software As A Service), and the e-Service segment, which rendered an e-Business service for the Business segment to Government (B2G) transaction, and Business segment to Business segment (B2B) transaction. The company operates only in Thailand and generates the majority of its revenue from the e-Business segment.
78GF 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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