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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).
HKSE:00417'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.33 Med: 0.63 Max: 4.21
Current: 2.25
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Tse Sui Luen Jewellery (International) was 4.21. The lowest was 0.33. And the median was 0.63.
HKSE:00417's Price-to-Net-Current-Asset-Value is ranked better than 62.43% of 559
companies
in the Retail - Cyclical industry
Industry Median: 3.09
vs HKSE:00417: 2.25
Tse Sui Luen Jewellery (International) (HKSE:00417) 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.
Tse Sui Luen Jewellery (International) Net Current Asset Value Related Terms
Tse Sui Luen Jewellery (International) 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.
Tse Sui Luen Jewellery (International) Net Current Asset Value Chart
Tse Sui Luen Jewellery (International) Annual Data
HKSE:00417 vs TPR: Net Current Asset Value Comparison
For the Luxury Goods subindustry, Tse Sui Luen Jewellery (International)'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.
Tse Sui Luen Jewellery (International) Price-to-Net-Current-Asset-Value vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Tse Sui Luen Jewellery (International)'s Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Tse Sui Luen Jewellery (International)'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$-0.05 mean?
Tse Sui Luen Jewellery (International) (HKSE:00417) has a Net Current Asset Value of HK$-0.05 as of Sep. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Tse Sui Luen Jewellery (International) and its competitors. Over the past decade, Tse Sui Luen Jewellery (International)'s Net Current Asset Value has ranged from 0.33 to 4.21. According to the industry distribution chart, Tse Sui Luen Jewellery (International) ranks #210 out of 559 companies in the Retail - Cyclical industry, placing it in the top 37.6%.
Is Tse Sui Luen Jewellery (International)'s Net Current Asset Value too high?
Tse Sui Luen Jewellery (International)'s current Net Current Asset Value is HK$-0.05. Over the past 10 years, this metric has ranged from a low of 0.33 to a high of 4.21. Based on the distribution chart, Tse Sui Luen Jewellery (International) ranks #210 out of 559 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Tse Sui Luen Jewellery (International) has a GF Score™ of 38/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tse Sui Luen Jewellery (International)'s Net Current Asset Value compare to TPR?
According to the Retail - Cyclical industry distribution chart, Tse Sui Luen Jewellery (International) ranks #210 out of 559 companies for Net Current Asset Value. This puts Tse Sui Luen Jewellery (International) in the upper half of its industry. The industry median Net Current Asset Value is 3.09. Historically, Tse Sui Luen Jewellery (International)'s own Net Current Asset Value has ranged from 0.33 to 4.21 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 Retail - Cyclical company?
The median Net Current Asset Value among Retail - Cyclical companies is 3.09, based on 559 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 Tse Sui Luen Jewellery (International) and its competitors. For the Retail - Cyclical industry, the median Net Current Asset Value is 3.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tse Sui Luen Jewellery (International)'s current Net Current Asset Value is HK$-0.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tse Sui Luen Jewellery (International) stock overvalued right now?
Based on GuruFocus' analysis, Tse Sui Luen Jewellery (International) (HKSE:00417) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.50, compared to a current price of HK$0.72 — trading 44% above its estimated fair value. The current Net Current Asset Value is HK$-0.05. Tse Sui Luen Jewellery (International)'s overall GF Score™ is 38/100 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 Tse Sui Luen Jewellery (International) (HKSE:00417), the current Net Current Asset Value is HK$-0.05 as of Sep. 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 Tse Sui Luen Jewellery (International) (HKSE:00417) Overvalued in 2026?
Based on GuruFocus' analysis, Tse Sui Luen Jewellery (International) stock appears to be overvalued.
The current stock price of HK$0.72 is trading 44% above its estimated GF Value™ of HK$0.50.
GuruFocus considers Tse Sui Luen Jewellery (International) to be Significantly Overvalued.
Key valuation signals for HKSE:00417:
Net Current Asset Value: HK$-0.05
GF Value™: HK$0.50 vs. price of HK$0.72 (44% above fair value)
No single metric tells the full story. See the HKSE:00417 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tse Sui Luen Jewellery (International) Business Description
Tse Sui Luen Jewellery (International) Ltd is an investment holding company. It is engaged in the manufacture, sale, and marketing of jewelry products as well as the provision of service. The company's operating segment includes Retail Business, Wholesale Business, E-Business, and Other Businesses. It generates maximum revenue from the Retail Business segment which includes direct retail sales of jewellery products to end consumers through the physical outlets. The group derives revenue from the customers in Hong Kong and Macau, Mainland China and Other countries.
38GF 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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