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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).
Zhaoke Ophthalmology's net current asset value per share for the quarter that ended in Dec. 2025 was €0.22.
The historical rank and industry rank for Zhaoke Ophthalmology's Net Current Asset Value or its related term are showing as below:
FRA:9FX'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.49 Med: 1.2 Max: 1.44
Current: 1.23
During the past 7 years, the highest Price-to-Net-Current-Asset-Value Ratio of Zhaoke Ophthalmology was 1.44. The lowest was 0.49. And the median was 1.20.
FRA:9FX's Price-to-Net-Current-Asset-Value is ranked better than 88.82% of 930
companies
in the Biotechnology industry
Industry Median: 4.81
vs FRA:9FX: 1.23
Zhaoke Ophthalmology (FRA:9FX) 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.
Zhaoke Ophthalmology Net Current Asset Value Related Terms
Zhaoke Ophthalmology Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Zhaoke Ophthalmology'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.
Zhaoke Ophthalmology Net Current Asset Value Chart
FRA:9FX vs VRTX, REGN, MRNA: Net Current Asset Value Comparison
For the Biotechnology subindustry, Zhaoke Ophthalmology'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.
Zhaoke Ophthalmology Price-to-Net-Current-Asset-Value vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Zhaoke Ophthalmology's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Zhaoke Ophthalmology'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 €0.22 mean?
Zhaoke Ophthalmology (FRA:9FX) has a Net Current Asset Value of €0.22 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 Zhaoke Ophthalmology and its competitors. According to the industry distribution chart, Zhaoke Ophthalmology ranks #104 out of 930 companies in the Biotechnology industry, placing it in the top 11.2%.
Is Zhaoke Ophthalmology's Net Current Asset Value too high?
Zhaoke Ophthalmology's current Net Current Asset Value is €0.22. Based on the distribution chart, Zhaoke Ophthalmology ranks #104 out of 930 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, Zhaoke Ophthalmology has a GF Score™ of 47/100, reflecting its overall financial health beyond just this single metric.
How does Zhaoke Ophthalmology's Net Current Asset Value compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Zhaoke Ophthalmology ranks #104 out of 930 companies for Net Current Asset Value. This places Zhaoke Ophthalmology in the top 11% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 4.81. 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 Biotechnology company?
The median Net Current Asset Value among Biotechnology companies is 4.81, based on 930 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 Zhaoke Ophthalmology and its competitors. For the Biotechnology industry, the median Net Current Asset Value is 4.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zhaoke Ophthalmology's current Net Current Asset Value is €0.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zhaoke Ophthalmology stock overvalued right now?
Zhaoke Ophthalmology (FRA:9FX) has a current Net Current Asset Value of €0.22. The stock's GF Value™ is €0.27, compared to a current price of €0.26 — trading 4.4% below its estimated fair value. The current Net Current Asset Value is €0.22. Zhaoke Ophthalmology's overall GF Score™ is 47/100 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 Zhaoke Ophthalmology (FRA:9FX), the current Net Current Asset Value is €0.22 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 Zhaoke Ophthalmology (FRA:9FX) Overvalued in 2026?
Based on GuruFocus' analysis, Zhaoke Ophthalmology stock appears to be undervalued.
The current stock price of €0.26 is trading 4.4% below its estimated GF Value™ of €0.27.
Key valuation signals for FRA:9FX:
Net Current Asset Value: €0.22
GF Value™: €0.27 vs. price of €0.26 (4.4% below fair value)
No single metric tells the full story. See the FRA:9FX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zhaoke Ophthalmology Ltd is an ophthalmic pharmaceutical company dedicated to the research, development, manufacture and commercialization of therapies that address unmet medical needs. The company has three flagship drug assets progressing towards potential market approval: NVK002 for myopia, CsA Ophthalmic Gel for DED and TAB014 for wAMD; and two drug assets in the clinical stage BRIMOCHOL PF for presbyopia and ZKY001 for corneal epithelial defects. Geographically the company operates in Hong Kong, Chinese Mainland, South Korea, and Others, of which it generates maximum revenue from Chinese Mainland.
47GF Score
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