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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).
Hing Lee (HK) Holdings's net current asset value per share for the quarter that ended in Jun. 2026 was HK$0.04.
The historical rank and industry rank for Hing Lee (HK) Holdings's Net Current Asset Value or its related term are showing as below:
HKSE:00396'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.28 Med: 6.2 Max: 21
Current: 8.63
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Hing Lee (HK) Holdings was 21.00. The lowest was 1.28. And the median was 6.20.
HKSE:00396's Price-to-Net-Current-Asset-Value is ranked worse than 76.47% of 289
companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 3.62
vs HKSE:00396: 8.63
Hing Lee (HK) Holdings (HKSE:00396) 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.
Hing Lee (HK) Holdings Net Current Asset Value Related Terms
Hing Lee (HK) Holdings Net Current Asset Value Historical Data
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The historical data trend for Hing Lee (HK) Holdings'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.
Hing Lee (HK) Holdings Net Current Asset Value Chart
HKSE:00396 vs SN, SGI, MHK: Net Current Asset Value Comparison
For the Furnishings, Fixtures & Appliances subindustry, Hing Lee (HK) 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.
Hing Lee (HK) Holdings Price-to-Net-Current-Asset-Value vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Hing Lee (HK) Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Hing Lee (HK) 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$0.04 mean?
Hing Lee (HK) Holdings (HKSE:00396) has a Net Current Asset Value of HK$0.04 as of Jun. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Hing Lee (HK) Holdings and its competitors. According to the industry distribution chart, Hing Lee (HK) Holdings ranks #221 out of 289 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 76.5%.
Is Hing Lee (HK) Holdings' Net Current Asset Value too high?
Hing Lee (HK) Holdings' current Net Current Asset Value is HK$0.04. Based on the distribution chart, Hing Lee (HK) Holdings ranks #221 out of 289 companies in the Furnishings, Fixtures & Appliances industry, which is in the bottom quartile relative to peers. Overall, Hing Lee (HK) Holdings has a GF Score™ of 34/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hing Lee (HK) Holdings' Net Current Asset Value compare to SN and SGI?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Hing Lee (HK) Holdings ranks #221 out of 289 companies for Net Current Asset Value. This places Hing Lee (HK) Holdings in the lower half of its industry. The industry median Net Current Asset Value is 3.62. 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 Furnishings, Fixtures & Appliances company?
The median Net Current Asset Value among Furnishings, Fixtures & Appliances companies is 3.62, based on 289 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 Hing Lee (HK) Holdings and its competitors. For the Furnishings, Fixtures & Appliances industry, the median Net Current Asset Value is 3.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hing Lee (HK) Holdings's current Net Current Asset Value is HK$0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hing Lee (HK) Holdings stock overvalued right now?
Based on GuruFocus' analysis, Hing Lee (HK) Holdings (HKSE:00396) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.05, compared to a current price of HK$0.35 — trading 590% above its estimated fair value. The current Net Current Asset Value is HK$0.04. Hing Lee (HK) Holdings' overall GF Score™ is 34/100 with 4 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 Hing Lee (HK) Holdings (HKSE:00396), the current Net Current Asset Value is HK$0.04 as of Jun. 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 Hing Lee (HK) Holdings (HKSE:00396) Overvalued in 2026?
Based on GuruFocus' analysis, Hing Lee (HK) Holdings stock appears to be overvalued.
The current stock price of HK$0.35 is trading 590% above its estimated GF Value™ of HK$0.05.
GuruFocus considers Hing Lee (HK) Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:00396:
Net Current Asset Value: HK$0.04
GF Value™: HK$0.05 vs. price of HK$0.35 (590% above fair value)
No single metric tells the full story. See the HKSE:00396 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hing Lee (HK) Holdings Ltd is an investment holding company. Through its subsidiaries, it is mainly engaged in furniture design and the integration of the manufacturing and wholesale furniture business. The Group owns Mogou, Johnston, Oriant, and other brands, providing a full range of residential furniture products, including mattress products for the bedroom, living room, dining room, and home office use. Additionally, the Group offers general business consultancy services; provides promotional services relating to layout design, fitting, and display of products; and engages in licensing of its own brands and product designs. Geographically, it generates maximum revenue from Asia (excluding the PRC), and the rest from the United States, Europe, the PRC, Australia, and Africa.
34GF Score
Get the complete analysis for HKSE:00396
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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