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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 Hong Kong Economic Times Holdings's Net Current Asset Value or its related term are showing as below:
HKSE:00423'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.87 Med: 1.34 Max: 2.55
Current: 0.96
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Hong Kong Economic Times Holdings was 2.55. The lowest was 0.87. And the median was 1.34.
HKSE:00423's Price-to-Net-Current-Asset-Value is ranked better than 84.6% of 539
companies
in the Media - Diversified industry
Industry Median: 2.94
vs HKSE:00423: 0.96
Hong Kong Economic Times Holdings (HKSE:00423) 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.
Hong Kong Economic Times Holdings Net Current Asset Value Related Terms
Hong Kong Economic Times 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.
Hong Kong Economic Times Holdings Net Current Asset Value Chart
HKSE:00423 vs NYT, WLY: Net Current Asset Value Comparison
For the Publishing subindustry, Hong Kong Economic Times 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.
Hong Kong Economic Times Holdings Price-to-Net-Current-Asset-Value vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Hong Kong Economic Times Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Hong Kong Economic Times 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$0.72 mean?
Hong Kong Economic Times Holdings (HKSE:00423) has a Net Current Asset Value of HK$0.72 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Hong Kong Economic Times Holdings and its competitors. This is 46% below median its historical median of 1.34. Over the past decade, Hong Kong Economic Times Holdings' Net Current Asset Value has ranged from 0.87 to 2.55. According to the industry distribution chart, Hong Kong Economic Times Holdings ranks #83 out of 539 companies in the Media - Diversified industry, placing it in the top 15.4%.
Is Hong Kong Economic Times Holdings' Net Current Asset Value too high?
Hong Kong Economic Times Holdings' current Net Current Asset Value of HK$0.72 is 46% below median its 10-year median of 1.34. Over the past 10 years, this metric has ranged from a low of 0.87 to a high of 2.55. Based on the distribution chart, Hong Kong Economic Times Holdings ranks #83 out of 539 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Hong Kong Economic Times Holdings has a GF Score™ of 44/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hong Kong Economic Times Holdings' Net Current Asset Value compare to NYT and WLY?
According to the Media - Diversified industry distribution chart, Hong Kong Economic Times Holdings ranks #83 out of 539 companies for Net Current Asset Value. This places Hong Kong Economic Times Holdings in the top 15% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 2.94. Historically, Hong Kong Economic Times Holdings' own Net Current Asset Value has ranged from 0.87 to 2.55 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 Media - Diversified company?
The median Net Current Asset Value among Media - Diversified companies is 2.94, based on 539 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 Hong Kong Economic Times Holdings and its competitors. For the Media - Diversified industry, the median Net Current Asset Value is 2.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hong Kong Economic Times Holdings's current Net Current Asset Value is HK$0.72, which is 46% below median its own 10-year median of 1.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hong Kong Economic Times Holdings stock overvalued right now?
Based on GuruFocus' analysis, Hong Kong Economic Times Holdings (HKSE:00423) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.68, compared to a current price of HK$0.69 — trading 1.5% above its estimated fair value. The current Net Current Asset Value is HK$0.72, which is 46% below median its 10-year median of 1.34. Hong Kong Economic Times Holdings' overall GF Score™ is 44/100 with 2 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 Hong Kong Economic Times Holdings (HKSE:00423), the current Net Current Asset Value is HK$0.72 as of Mar. 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 Hong Kong Economic Times Holdings (HKSE:00423) Overvalued in 2026?
Based on GuruFocus' analysis, Hong Kong Economic Times Holdings stock appears to be overvalued.
The current stock price of HK$0.69 is trading 1.5% above its estimated GF Value™ of HK$0.68.
GuruFocus considers Hong Kong Economic Times Holdings to be Fairly Valued.
Key valuation signals for HKSE:00423:
Net Current Asset Value: HK$0.72 (46% below median its 10-year median of 1.34)
GF Value™: HK$0.68 vs. price of HK$0.69 (1.5% above fair value)
No single metric tells the full story. See the HKSE:00423 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hong Kong Economic Times Holdings Business Description
Hong Kong Economic Times Holdings Ltd is an investment holding company. It is engaged in the printing and publishing of newspapers and magazines and the operation of their associated digital businesses; the operation of recruitment advertising and lifestyle platforms; and the provision of electronic financial and property market information services. Its segments are Media segment, majority revenue deriving segment, engaged in the printing and publication of newspapers, magazines and books and the operation of digital platforms, including recruitment, finance and lifestyle; and Financial news agency, information and solutions segment.
44GF Score
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