Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
China Tourism Group Duty FreeCTGDF 81 Net Current Asset Value is $2.29 as of Mar. 2026, which is 78% below its 10-year median of 10.45. GuruFocus rates CTGDF with a GF Score™ of 81/100. The stock has 5 warning signs investors should review. Among 558 Retail - Cyclical companies, China Tourism Group Duty Free ranks worse than 51.79% 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).
China Tourism Group Duty Free's net current asset value per share for the quarter that ended in Mar. 2026 was $2.29.
The historical rank and industry rank for China Tourism Group Duty Free'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 China Tourism Group Duty Free was 79.12. The lowest was 3.43. And the median was 10.45.
CTGDF's Price-to-Net-Current-Asset-Value is not ranked *
in the Retail - Cyclical industry.
Industry Median: 3.24 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
China Tourism Group Duty Free (OTCPK:CTGDF) 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.
China Tourism Group Duty Free Net Current Asset Value Related Terms
China Tourism Group Duty Free Net Current Asset Value Historical Data
* 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.
China Tourism Group Duty Free Net Current Asset Value Chart
CTGDF vs CASY, WSM, ULTA: Net Current Asset Value Comparison
For the Specialty Retail subindustry, China Tourism Group Duty Free'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.
China Tourism Group Duty Free Price-to-Net-Current-Asset-Value vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, China Tourism Group Duty Free's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where China Tourism Group Duty Free'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 $2.29 mean?
China Tourism Group Duty Free (CTGDF) has a Net Current Asset Value of $2.29 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 China Tourism Group Duty Free and its competitors. This is 78% below median its historical median of 10.45. Over the past decade, China Tourism Group Duty Free's Net Current Asset Value has ranged from 3.43 to 79.12. According to the industry distribution chart, China Tourism Group Duty Free ranks #289 out of 558 companies in the Retail - Cyclical industry, placing it in the top 51.8%.
Is China Tourism Group Duty Free's Net Current Asset Value too high?
China Tourism Group Duty Free's current Net Current Asset Value of $2.29 is 78% below median its 10-year median of 10.45. Over the past 10 years, this metric has ranged from a low of 3.43 to a high of 79.12. The Retail - Cyclical industry median Net Current Asset Value is 3.24. China Tourism Group Duty Free's value of $2.29 is 29.3% below this industry median. Based on the distribution chart, China Tourism Group Duty Free ranks #289 out of 558 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, China Tourism Group Duty Free has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does China Tourism Group Duty Free's Net Current Asset Value compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, China Tourism Group Duty Free ranks #289 out of 558 companies for Net Current Asset Value. This places China Tourism Group Duty Free in the lower half of its industry. The industry median Net Current Asset Value is 3.24. China Tourism Group Duty Free's value of $2.29 is 29.3% below this benchmark. Historically, China Tourism Group Duty Free's own Net Current Asset Value has ranged from 3.43 to 79.12 over the past decade. While the company's 10-year median is 10.45 vs. the industry median of 3.24, China Tourism Group Duty Free has consistently been below the industry average. 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 Retail - Cyclical company?
The median Net Current Asset Value among Retail - Cyclical companies is 3.24, based on 558 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. China Tourism Group Duty Free's current Net Current Asset Value of $2.29 is 29.3% below the industry median. 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 China Tourism Group Duty Free and its competitors. For the Retail - Cyclical industry, the median Net Current Asset Value is 3.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Tourism Group Duty Free's current Net Current Asset Value is $2.29, which is 78% below median its own 10-year median of 10.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Tourism Group Duty Free stock overvalued right now?
China Tourism Group Duty Free (CTGDF) has a current Net Current Asset Value of $2.29. The current Net Current Asset Value is $2.29, which is 78% below median its 10-year median of 10.45 and 29.3% below the Retail - Cyclical industry median of 3.24. China Tourism Group Duty Free's overall GF Score™ is 81/100 with 5 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 China Tourism Group Duty Free (CTGDF), the current Net Current Asset Value is $2.29 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.
Established in 1984, China Tourism Group Duty Free is China's largest and the world's second-largest travel retailer in 2025 with revenue of CNY 54 billion. The company primarily operates duty-free stores at airports, border crossings, offshore, downtown, and on flights, cruises and ships, with about 200 stores spanning over 33 provinces in China, as well as overseas. The company also operates a duty-paid business. Its 2025 revenue mix was 73% duty-free sales and 27% duty-paid sales and others. CTG Duty Free is 50% owned by China Tourism Group, a state-owned enterprise that falls directly under the State-owned Assets Supervision and Administration Commission of the State Council.
81GF Score
Get the complete analysis for CTGDF
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CTGDF has been successfully added to your 
