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TPI Polene Power PCLBKK:TPIPP 68 Net Current Asset Value is ฿-2.97 as of Mar. 2026. GuruFocus rates BKK:TPIPP with a GF Score™ of 68/100 and a GF Value™ of ฿2.35 (Modestly Undervalued). The stock has 10 warning signs investors should review. Among 106 Utilities - Independent Power Producers companies, TPI Polene Power PCL ranks worse than 943395.28% 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).
TPI Polene Power PCL's net current asset value per share for the quarter that ended in Mar. 2026 was ฿-2.97.
The historical rank and industry rank for TPI Polene Power PCL's Net Current Asset Value or its related term are showing as below:
During the past 12 years, the highest Price-to-Net-Current-Asset-Value Ratio of TPI Polene Power PCL was 282.50. The lowest was 13.75. And the median was 27.17.
BKK:TPIPP's Price-to-Net-Current-Asset-Value is not ranked *
in the Utilities - Independent Power Producers industry.
Industry Median: 4.795 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
TPI Polene Power PCL (BKK:TPIPP) 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.
TPI Polene Power PCL Net Current Asset Value Related Terms
TPI Polene Power PCL Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for TPI Polene Power 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.
TPI Polene Power PCL Net Current Asset Value Chart
TPI Polene Power PCL Net Current Asset Value Competitor Comparison
For the Utilities - Renewable subindustry, TPI Polene Power 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.
TPI Polene Power PCL Price-to-Net-Current-Asset-Value vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, TPI Polene Power PCL's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where TPI Polene Power 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 ฿-2.97 mean?
TPI Polene Power PCL (BKK:TPIPP) has a Net Current Asset Value of ฿-2.97 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 TPI Polene Power PCL and its competitors. Over the past decade, TPI Polene Power PCL's Net Current Asset Value has ranged from 13.75 to 282.50. According to the industry distribution chart, TPI Polene Power PCL ranks #999999 out of 106 companies in the Utilities - Independent Power Producers industry.
Is TPI Polene Power PCL's Net Current Asset Value too high?
TPI Polene Power PCL's current Net Current Asset Value is ฿-2.97. Over the past 10 years, this metric has ranged from a low of 13.75 to a high of 282.50. Based on the distribution chart, TPI Polene Power PCL ranks #999999 out of 106 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, TPI Polene Power PCL has a GF Score™ of 68/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TPI Polene Power PCL's Net Current Asset Value compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, TPI Polene Power PCL ranks #999999 out of 106 companies for Net Current Asset Value. This places TPI Polene Power PCL in the lower half of its industry. The industry median Net Current Asset Value is 4.80. Historically, TPI Polene Power PCL's own Net Current Asset Value has ranged from 13.75 to 282.50 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 an Utilities - Independent Power Producers company?
The median Net Current Asset Value among Utilities - Independent Power Producers companies is 4.80, based on 106 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 TPI Polene Power PCL and its competitors. For the Utilities - Independent Power Producers industry, the median Net Current Asset Value is 4.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TPI Polene Power PCL's current Net Current Asset Value is ฿-2.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TPI Polene Power PCL stock overvalued right now?
Based on GuruFocus' analysis, TPI Polene Power PCL (BKK:TPIPP) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿2.35, compared to a current price of ฿1.81 — trading 23% below its estimated fair value. The current Net Current Asset Value is ฿-2.97. TPI Polene Power PCL's overall GF Score™ is 68/100 with 10 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 TPI Polene Power PCL (BKK:TPIPP), the current Net Current Asset Value is ฿-2.97 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 TPI Polene Power PCL (BKK:TPIPP) Overvalued in 2026?
Based on GuruFocus' analysis, TPI Polene Power PCL stock appears to be undervalued.
The current stock price of ฿1.81 is trading 23% below its estimated GF Value™ of ฿2.35.
GuruFocus considers TPI Polene Power PCL to be Modestly Undervalued.
Key valuation signals for BKK:TPIPP:
Net Current Asset Value: ฿-2.97
GF Value™: ฿2.35 vs. price of ฿1.81 (23% below fair value)
No single metric tells the full story. See the BKK:TPIPP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TPI Polene Power PCL is engaged in manufacturing and distributing electricity and refuse-derived fuel, organics waste, and distributing diesel and natural gas. The company is engaged in two segments which are Energy and utilities, Petrol and gas stations. It derives maximum revenue from Energy & Utilities segment. Geographically, the company operates in Thailand.
68GF Score
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