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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 National United Resources Holdings's Net Current Asset Value or its related term are showing as below:
HKSE:00254'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 23.6 Med: 60 Max: 60
Current: 23.6
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of National United Resources Holdings was 60.00. The lowest was 23.60. And the median was 60.00.
HKSE:00254's Price-to-Net-Current-Asset-Value is ranked worse than 91.88% of 616
companies
in the Business Services industry
Industry Median: 3.725
vs HKSE:00254: 23.60
National United Resources Holdings (HKSE:00254) 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.
National United Resources Holdings Net Current Asset Value Related Terms
National United Resources 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.
National United Resources Holdings Net Current Asset Value Chart
HKSE:00254 vs URI, SUNB, AER: Net Current Asset Value Comparison
For the Rental & Leasing Services subindustry, National United Resources 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.
National United Resources Holdings Price-to-Net-Current-Asset-Value vs Business Services Industry
For the Business Services industry and Industrials sector, National United Resources Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where National United Resources 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$0.01 mean?
National United Resources Holdings (HKSE:00254) has a Net Current Asset Value of HK$0.01 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 National United Resources Holdings and its competitors. According to the industry distribution chart, National United Resources Holdings ranks #566 out of 616 companies in the Business Services industry, placing it in the top 91.9%.
Is National United Resources Holdings' Net Current Asset Value too high?
National United Resources Holdings' current Net Current Asset Value is HK$0.01. Based on the distribution chart, National United Resources Holdings ranks #566 out of 616 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, National United Resources Holdings has a GF Score™ of 20/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does National United Resources Holdings' Net Current Asset Value compare to URI and SUNB?
According to the Business Services industry distribution chart, National United Resources Holdings ranks #566 out of 616 companies for Net Current Asset Value. This places National United Resources Holdings in the lower half of its industry. The industry median Net Current Asset Value is 3.73. 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 Business Services company?
The median Net Current Asset Value among Business Services companies is 3.73, based on 616 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 National United Resources Holdings and its competitors. For the Business Services industry, the median Net Current Asset Value is 3.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National United Resources Holdings's current Net Current Asset Value is HK$0.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National United Resources Holdings stock overvalued right now?
Based on GuruFocus' analysis, National United Resources Holdings (HKSE:00254) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$0.27, compared to a current price of HK$0.24 — trading 12.6% below its estimated fair value. The current Net Current Asset Value is HK$0.01. National United Resources Holdings' overall GF Score™ is 20/100 with 6 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 National United Resources Holdings (HKSE:00254), the current Net Current Asset Value is HK$0.01 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 National United Resources Holdings (HKSE:00254) Overvalued in 2026?
Based on GuruFocus' analysis, National United Resources Holdings stock appears to be undervalued.
The current stock price of HK$0.24 is trading 12.6% below its estimated GF Value™ of HK$0.27.
GuruFocus considers National United Resources Holdings to be Modestly Undervalued.
Key valuation signals for HKSE:00254:
Net Current Asset Value: HK$0.01
GF Value™: HK$0.27 vs. price of HK$0.24 (12.6% below fair value)
No single metric tells the full story. See the HKSE:00254 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National United Resources Holdings Ltd is an investment holding company. the principal activities of the company are (i) provision of car rental and shuttle bus services; (ii) provision of cloud computing, traffic operations and digital transformation services via private owned and constructed data analytics infrastructure with system application software of computational analytics and processing center (CAPC); (iii) the research and development, production, sales and service of industry information solutions and (iv) acting as intermediary selling computer hardware to customers. The company has two reportable operating segments: a) Car rental and shuttle bus business, and b) Information technology business, the majority revenue generating segment.
20GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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