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TQM Alpha PCLBKK:TQM +0.60%90 Net Current Asset Value is ฿1.92 as of Mar. 2026, which is 100% below its 10-year median of 25.71. GuruFocus rates BKK:TQM with a GF Score™ of 90/100 and a GF Value™ of ฿24.42 (Significantly Undervalued). The stock has 11 warning signs investors should review. Among 26 Insurance companies, TQM Alpha PCL ranks worse than 61.54% 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).
TQM Alpha PCL's net current asset value per share for the quarter that ended in Mar. 2026 was ฿1.92.
The historical rank and industry rank for TQM Alpha PCL's Net Current Asset Value or its related term are showing as below:
BKK:TQM'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 4.25 Med: 25.71 Max: 653.13
Current: 8.8
During the past 12 years, the highest Price-to-Net-Current-Asset-Value Ratio of TQM Alpha PCL was 653.13. The lowest was 4.25. And the median was 25.71.
BKK:TQM's Price-to-Net-Current-Asset-Value is ranked worse than 61.54% of 26
companies
in the Insurance industry
Industry Median: 6.345
vs BKK:TQM: 8.80
TQM Alpha PCL (BKK:TQM) 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.
TQM Alpha PCL Net Current Asset Value Related Terms
TQM Alpha PCL Net Current Asset Value Historical Data
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The historical data trend for TQM Alpha 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:TQM vs MRSH, AON, AJG: Net Current Asset Value Comparison
For the Insurance Brokers subindustry, TQM Alpha 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.
TQM Alpha PCL Price-to-Net-Current-Asset-Value vs Insurance Industry
For the Insurance industry and Financial Services sector, TQM Alpha PCL's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where TQM Alpha 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 ฿1.92 mean?
TQM Alpha PCL (BKK:TQM) has a Net Current Asset Value of ฿1.92 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 TQM Alpha PCL and its competitors. This is 93% below median its historical median of 25.71. Over the past decade, TQM Alpha PCL's Net Current Asset Value has ranged from 4.25 to 653.13. According to the industry distribution chart, TQM Alpha PCL ranks #16 out of 26 companies in the Insurance industry, placing it in the top 61.5%.
Is TQM Alpha PCL's Net Current Asset Value too high?
TQM Alpha PCL's current Net Current Asset Value of ฿1.92 is 93% below median its 10-year median of 25.71. Over the past 10 years, this metric has ranged from a low of 4.25 to a high of 653.13. Based on the distribution chart, TQM Alpha PCL ranks #16 out of 26 companies in the Insurance industry, which is below the industry midpoint. Overall, TQM Alpha PCL has a GF Score™ of 90/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TQM Alpha PCL's Net Current Asset Value compare to MRSH and AON?
According to the Insurance industry distribution chart, TQM Alpha PCL ranks #16 out of 26 companies for Net Current Asset Value. This places TQM Alpha PCL in the lower half of its industry. The industry median Net Current Asset Value is 6.35. Historically, TQM Alpha PCL's own Net Current Asset Value has ranged from 4.25 to 653.13 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 Insurance company?
The median Net Current Asset Value among Insurance companies is 6.35, based on 26 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 TQM Alpha PCL and its competitors. For the Insurance industry, the median Net Current Asset Value is 6.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TQM Alpha PCL's current Net Current Asset Value is ฿1.92, which is 93% below median its own 10-year median of 25.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TQM Alpha PCL stock overvalued right now?
Based on GuruFocus' analysis, TQM Alpha PCL (BKK:TQM) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿24.42, compared to a current price of ฿16.90 — trading 30.8% below its estimated fair value. The current Net Current Asset Value is ฿1.92, which is 93% below median its 10-year median of 25.71. TQM Alpha PCL's overall GF Score™ is 90/100 with 11 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 TQM Alpha PCL (BKK:TQM), the current Net Current Asset Value is ฿1.92 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 TQM Alpha PCL (BKK:TQM) Overvalued in 2026?
Based on GuruFocus' analysis, TQM Alpha PCL stock appears to be undervalued.
The current stock price of ฿16.90 is trading 30.8% below its estimated GF Value™ of ฿24.42.
GuruFocus considers TQM Alpha PCL to be Significantly Undervalued.
Key valuation signals for BKK:TQM:
Net Current Asset Value: ฿1.92 (93% below median its 10-year median of 25.71)
GF Value™: ฿24.42 vs. price of ฿16.90 (30.8% below fair value)
No single metric tells the full story. See the BKK:TQM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TQM Alpha PCL is engaged in investment in companies that are focused on non-life insurance brokers, life insurance brokers, reinsurance brokers, personal loans, and the provision of services as a manager, caregiver, collect benefits, and property management for related parties. It also provides procurement and consulting services for computer software and hardware.
90GF 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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