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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).
The historical rank and industry rank for China Energy Development Holdings's Net Current Asset Value or its related term are showing as below:
HKSE:00228'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0 Med: 0 Max: 84.5
Current: 84.5
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of China Energy Development Holdings was 84.50. The lowest was 0.00. And the median was 0.00.
HKSE:00228's Price-to-Net-Current-Asset-Value is ranked worse than 96.08% of 306
companies
in the Oil & Gas industry
Industry Median: 3.97
vs HKSE:00228: 84.50
China Energy Development Holdings (HKSE:00228) 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 Energy Development Holdings Net Current Asset Value Related Terms
China Energy Development Holdings 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 Energy Development Holdings Net Current Asset Value Chart
HKSE:00228 vs XOM, CVX: Net Current Asset Value Comparison
For the Oil & Gas Integrated subindustry, China Energy Development 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.
China Energy Development Holdings Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, China Energy Development Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where China Energy Development 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 HK$-0.07 mean?
China Energy Development Holdings (HKSE:00228) has a Net Current Asset Value of HK$-0.07 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 China Energy Development Holdings and its competitors. According to the industry distribution chart, China Energy Development Holdings ranks #294 out of 306 companies in the Oil & Gas industry, placing it in the top 96.1%.
Is China Energy Development Holdings' Net Current Asset Value too high?
China Energy Development Holdings' current Net Current Asset Value is HK$-0.07. Based on the distribution chart, China Energy Development Holdings ranks #294 out of 306 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, China Energy Development Holdings has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does China Energy Development Holdings' Net Current Asset Value compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, China Energy Development Holdings ranks #294 out of 306 companies for Net Current Asset Value. This places China Energy Development Holdings in the lower half of its industry. The industry median Net Current Asset Value is 3.97. 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 Oil & Gas company?
The median Net Current Asset Value among Oil & Gas companies is 3.97, based on 306 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 China Energy Development Holdings and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Energy Development Holdings's current Net Current Asset Value is HK$-0.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Energy Development Holdings stock overvalued right now?
Based on GuruFocus' analysis, China Energy Development Holdings (HKSE:00228) is currently considered Possible Value Trap. The stock's GF Value™ is HK$1.92, compared to a current price of HK$0.85 — trading 56% below its estimated fair value. The current Net Current Asset Value is HK$-0.07. China Energy Development Holdings' overall GF Score™ is 62/100 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 Energy Development Holdings (HKSE:00228), the current Net Current Asset Value is HK$-0.07 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 China Energy Development Holdings (HKSE:00228) Overvalued in 2026?
Based on GuruFocus' analysis, China Energy Development Holdings stock appears to be undervalued.
The current stock price of HK$0.85 is trading 56% below its estimated GF Value™ of HK$1.92.
GuruFocus considers China Energy Development Holdings to be Possible Value Trap.
Key valuation signals for HKSE:00228:
Net Current Asset Value: HK$-0.07
GF Value™: HK$1.92 vs. price of HK$0.85 (56% below fair value)
No single metric tells the full story. See the HKSE:00228 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Energy Development Holdings Ltd is engaged in oil and gas exploration; distribution of natural gas; sales of food and beverages and money lending business in Hong Kong. The company is engaged in three segments, namely, The Exploration, Production and Distribution of Natural Gas segment engaged in the exploration, development, production and sales of natural gas and the usage of pipeline for distribution of natural gas. Majority of the revenue is derived from The Exploration, Production and Distribution of Natural Gas segment. Geographically, the company operates in PRC and Hong Kong region.
62GF Score
Get the complete analysis for HKSE:00228
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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