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).
DHA:BATBC'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.58 Med: 45.02 Max: 163.11
Current: 6.62
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of British American Tobacco Bangladesh Co was 163.11. The lowest was 6.58. And the median was 45.02.
DHA:BATBC's Price-to-Net-Current-Asset-Value is ranked worse than 55.17% of 29
companies
in the Tobacco Products industry
Industry Median: 5.13
vs DHA:BATBC: 6.62
British American Tobacco Bangladesh Co (DHA:BATBC) 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.
British American Tobacco Bangladesh Co Net Current Asset Value Related Terms
British American Tobacco Bangladesh Co 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.
British American Tobacco Bangladesh Co Net Current Asset Value Chart
British American Tobacco Bangladesh Co Annual Data
DHA:BATBC vs PM, MO, TPB: Net Current Asset Value Comparison
For the Tobacco subindustry, British American Tobacco Bangladesh Co'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.
British American Tobacco Bangladesh Co Price-to-Net-Current-Asset-Value vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, British American Tobacco Bangladesh Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where British American Tobacco Bangladesh Co'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 BDT33.05 mean?
British American Tobacco Bangladesh Co (DHA:BATBC) has a Net Current Asset Value of BDT33.05 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 British American Tobacco Bangladesh Co and its competitors. This is 27% below median its historical median of 45.02. Over the past decade, British American Tobacco Bangladesh Co's Net Current Asset Value has ranged from 6.58 to 163.11. According to the industry distribution chart, British American Tobacco Bangladesh Co ranks #16 out of 29 companies in the Tobacco Products industry, placing it in the top 55.2%.
Is British American Tobacco Bangladesh Co's Net Current Asset Value too high?
British American Tobacco Bangladesh Co's current Net Current Asset Value of BDT33.05 is 27% below median its 10-year median of 45.02. Over the past 10 years, this metric has ranged from a low of 6.58 to a high of 163.11. Based on the distribution chart, British American Tobacco Bangladesh Co ranks #16 out of 29 companies in the Tobacco Products industry, which is below the industry midpoint. Overall, British American Tobacco Bangladesh Co has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does British American Tobacco Bangladesh Co's Net Current Asset Value compare to PM and MO?
According to the Tobacco Products industry distribution chart, British American Tobacco Bangladesh Co ranks #16 out of 29 companies for Net Current Asset Value. This places British American Tobacco Bangladesh Co in the lower half of its industry. The industry median Net Current Asset Value is 5.13. Historically, British American Tobacco Bangladesh Co's own Net Current Asset Value has ranged from 6.58 to 163.11 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 Tobacco Products company?
The median Net Current Asset Value among Tobacco Products companies is 5.13, based on 29 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 British American Tobacco Bangladesh Co and its competitors. For the Tobacco Products industry, the median Net Current Asset Value is 5.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. British American Tobacco Bangladesh Co's current Net Current Asset Value is BDT33.05, which is 27% below median its own 10-year median of 45.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is British American Tobacco Bangladesh Co stock overvalued right now?
Based on GuruFocus' analysis, British American Tobacco Bangladesh Co (DHA:BATBC) is currently considered Modestly Undervalued. The stock's GF Value™ is BDT309.81, compared to a current price of BDT218.70 — trading 29.4% below its estimated fair value. The current Net Current Asset Value is BDT33.05, which is 27% below median its 10-year median of 45.02. British American Tobacco Bangladesh Co's overall GF Score™ is 85/100 with 9 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 British American Tobacco Bangladesh Co (DHA:BATBC), the current Net Current Asset Value is BDT33.05 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 British American Tobacco Bangladesh Co (DHA:BATBC) Overvalued in 2026?
Based on GuruFocus' analysis, British American Tobacco Bangladesh Co stock appears to be undervalued.
The current stock price of BDT218.70 is trading 29.4% below its estimated GF Value™ of BDT309.81.
GuruFocus considers British American Tobacco Bangladesh Co to be Modestly Undervalued.
Key valuation signals for DHA:BATBC:
Net Current Asset Value: BDT33.05 (27% below median its 10-year median of 45.02)
GF Value™: BDT309.81 vs. price of BDT218.70 (29.4% below fair value)
No single metric tells the full story. See the DHA:BATBC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
British American Tobacco Bangladesh Co Business Description
British American Tobacco Bangladesh Co Ltd is engaged in the manufacturing and marketing of cigarettes in Bangladesh. It manufactures and markets brands including Benson & Hedges, John Player Gold Leaf, John Player Series, Capstan, Lucky Strike, Star, Royals, Derby, Pilot, and Hollywood.
85GF Score
Get the complete analysis for DHA:BATBC
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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