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).
Chinese Estates Holdings's net current asset value per share for the quarter that ended in Dec. 2025 was $-0.03.
The historical rank and industry rank for Chinese Estates Holdings's Net Current Asset Value or its related term are showing as below:
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Chinese Estates Holdings was 3.67. The lowest was 3.67. And the median was 3.67.
CESTF's Price-to-Net-Current-Asset-Value is not ranked *
in the Real Estate industry.
Industry Median: 2.12 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Chinese Estates Holdings (OTCPK:CESTF) 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.
Chinese Estates Holdings Net Current Asset Value Related Terms
Chinese Estates Holdings Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Chinese Estates Holdings'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.
Chinese Estates Holdings Net Current Asset Value Chart
Chinese Estates Holdings Net Current Asset Value Competitor Comparison
For the Real Estate - Diversified subindustry, Chinese Estates Holdings'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.
Chinese Estates Holdings Price-to-Net-Current-Asset-Value vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Chinese Estates Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Chinese Estates Holdings'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 $-0.03 mean?
Chinese Estates Holdings (CESTF) has a Net Current Asset Value of $-0.03 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Chinese Estates Holdings and its competitors. Over the past decade, Chinese Estates Holdings' Net Current Asset Value has ranged from 3.67 to 3.67. According to the industry distribution chart, Chinese Estates Holdings ranks #999999 out of 758 companies in the Real Estate industry.
Is Chinese Estates Holdings' Net Current Asset Value too high?
Chinese Estates Holdings' current Net Current Asset Value is $-0.03. Over the past 10 years, this metric has ranged from a low of 3.67 to a high of 3.67. Based on the distribution chart, Chinese Estates Holdings ranks #999999 out of 758 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Chinese Estates Holdings has a GF Score™ of 40/100, reflecting its overall financial health beyond just this single metric.
How does Chinese Estates Holdings' Net Current Asset Value compare to competitors?
According to the Real Estate industry distribution chart, Chinese Estates Holdings ranks #999999 out of 758 companies for Net Current Asset Value. This places Chinese Estates Holdings in the lower half of its industry. The industry median Net Current Asset Value is 2.12. Historically, Chinese Estates Holdings' own Net Current Asset Value has ranged from 3.67 to 3.67 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 Real Estate company?
The median Net Current Asset Value among Real Estate companies is 2.12, based on 758 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 Chinese Estates Holdings and its competitors. For the Real Estate industry, the median Net Current Asset Value is 2.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chinese Estates Holdings's current Net Current Asset Value is $-0.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chinese Estates Holdings stock overvalued right now?
Chinese Estates Holdings (CESTF) has a current Net Current Asset Value of $-0.03. The stock's GF Value™ is $0.11, compared to a current price of $0.15 — trading 38.1% above its estimated fair value. The current Net Current Asset Value is $-0.03. Chinese Estates Holdings' overall GF Score™ is 40/100 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 Chinese Estates Holdings (CESTF), the current Net Current Asset Value is $-0.03 as of Dec. 2025. 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 Chinese Estates Holdings (CESTF) Overvalued in 2026?
Based on GuruFocus' analysis, Chinese Estates Holdings stock appears to be overvalued.
The current stock price of $0.15 is trading 38.1% above its estimated GF Value™ of $0.11.
Key valuation signals for CESTF:
Net Current Asset Value: $-0.03
GF Value™: $0.11 vs. price of $0.15 (38.1% above fair value)
No single metric tells the full story. See the CESTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chinese Estates Holdings Ltd is an investment holding company. The company's operating segment includes Property development and trading; Property leasing includes Retail and Non-retail; Listed equity investments at FVTOCI; Investments and treasury products at FVTPL; Unlisted investments, investment holding and brokerage, and other segments. It derives maximum revenue from Investments and treasury products at FVTPL segment, which includes Securities investments in investments held for trading, OTC trading and structured products. The Group focuses in Hong Kong, and diversifies its property interests to mainland China and the United Kingdom.
40GF Score
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