Tong Hua Holdings PCLBKK:TH -2.08%63 Net Current Asset Value is ฿0.76 as of Mar. 2026, which is 100% below its 10-year median of 1.05. GuruFocus rates BKK:TH with a GF Score™ of 63/100 and a GF Value™ of ฿0.63 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 199 Diversified Financial Services companies, Tong Hua Holdings PCL ranks better than 94.47% 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).
Tong Hua Holdings PCL's net current asset value per share for the quarter that ended in Mar. 2026 was ฿0.76.
The historical rank and industry rank for Tong Hua Holdings PCL's Net Current Asset Value or its related term are showing as below:
BKK:TH'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.55 Med: 1.05 Max: 8.49
Current: 0.62
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Tong Hua Holdings PCL was 8.49. The lowest was 0.55. And the median was 1.05.
BKK:TH's Price-to-Net-Current-Asset-Value is ranked better than 94.47% of 199
companies
in the Diversified Financial Services industry
Industry Median: 2
vs BKK:TH: 0.62
Tong Hua Holdings PCL (BKK:TH) 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.
Tong Hua Holdings PCL Net Current Asset Value Related Terms
Tong Hua Holdings PCL Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Tong Hua Holdings 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.
Tong Hua Holdings PCL Net Current Asset Value Chart
BKK:TH vs VOYA, FRHC: Net Current Asset Value Comparison
For the Financial Conglomerates subindustry, Tong Hua Holdings 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.
Tong Hua Holdings PCL Price-to-Net-Current-Asset-Value vs Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Tong Hua Holdings PCL's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Tong Hua Holdings 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 ฿0.76 mean?
Tong Hua Holdings PCL (BKK:TH) has a Net Current Asset Value of ฿0.76 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 Tong Hua Holdings PCL and its competitors. This is 28% below median its historical median of 1.05. Over the past decade, Tong Hua Holdings PCL's Net Current Asset Value has ranged from 0.55 to 8.49. According to the industry distribution chart, Tong Hua Holdings PCL ranks #11 out of 199 companies in the Diversified Financial Services industry, placing it in the top 5.5%.
Is Tong Hua Holdings PCL's Net Current Asset Value too high?
Tong Hua Holdings PCL's current Net Current Asset Value of ฿0.76 is 28% below median its 10-year median of 1.05. Over the past 10 years, this metric has ranged from a low of 0.55 to a high of 8.49. Based on the distribution chart, Tong Hua Holdings PCL ranks #11 out of 199 companies in the Diversified Financial Services industry, which is in the top quartile — a strong position relative to peers. Overall, Tong Hua Holdings PCL has a GF Score™ of 63/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tong Hua Holdings PCL's Net Current Asset Value compare to VOYA and FRHC?
According to the Diversified Financial Services industry distribution chart, Tong Hua Holdings PCL ranks #11 out of 199 companies for Net Current Asset Value. This places Tong Hua Holdings PCL in the top 6% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 2.00. Historically, Tong Hua Holdings PCL's own Net Current Asset Value has ranged from 0.55 to 8.49 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 Diversified Financial Services company?
The median Net Current Asset Value among Diversified Financial Services companies is 2.00, based on 199 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 Tong Hua Holdings PCL and its competitors. For the Diversified Financial Services industry, the median Net Current Asset Value is 2.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tong Hua Holdings PCL's current Net Current Asset Value is ฿0.76, which is 28% below median its own 10-year median of 1.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tong Hua Holdings PCL stock overvalued right now?
Based on GuruFocus' analysis, Tong Hua Holdings PCL (BKK:TH) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿0.63, compared to a current price of ฿0.47 — trading 25.4% below its estimated fair value. The current Net Current Asset Value is ฿0.76, which is 28% below median its 10-year median of 1.05. Tong Hua Holdings PCL's overall GF Score™ is 63/100 with 4 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 Tong Hua Holdings PCL (BKK:TH), the current Net Current Asset Value is ฿0.76 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 Tong Hua Holdings PCL (BKK:TH) Overvalued in 2026?
Based on GuruFocus' analysis, Tong Hua Holdings PCL stock appears to be undervalued.
The current stock price of ฿0.47 is trading 25.4% below its estimated GF Value™ of ฿0.63.
GuruFocus considers Tong Hua Holdings PCL to be Modestly Undervalued.
Key valuation signals for BKK:TH:
Net Current Asset Value: ฿0.76 (28% below median its 10-year median of 1.05)
GF Value™: ฿0.63 vs. price of ฿0.47 (25.4% below fair value)
No single metric tells the full story. See the BKK:TH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tong Hua Holdings PCL operates as an investment company. The company's business segments are divided into five segments: i) Producing and distributing newspaper, publishing and providing printing services, ii) Space rental for trading and service business, iii) Investment business, iv) Providing short - term funds in the form of factoring, loans, and v) Asset Management Business. Geographically, it operates mainly in Thailand.
63GF 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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