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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:00465'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.29 Med: 0.39 Max: 6
Current: 6
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Futong Technology Development Holdings was 6.00. The lowest was 0.29. And the median was 0.39.
HKSE:00465's Price-to-Net-Current-Asset-Value is ranked worse than 58.04% of 1759
companies
in the Software industry
Industry Median: 4.78
vs HKSE:00465: 6.00
Futong Technology Development Holdings (HKSE:00465) 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.
Futong Technology Development Holdings Net Current Asset Value Related Terms
Futong Technology 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.
Futong Technology Development Holdings Net Current Asset Value Chart
Futong Technology Development Holdings Annual Data
HKSE:00465 vs IBM, ACN, FISV: Net Current Asset Value Comparison
For the Information Technology Services subindustry, Futong Technology 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.
Futong Technology Development Holdings Price-to-Net-Current-Asset-Value vs Software Industry
For the Software industry and Technology sector, Futong Technology Development Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Futong Technology 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$0.47 mean?
Futong Technology Development Holdings (HKSE:00465) has a Net Current Asset Value of HK$0.47 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 Futong Technology Development Holdings and its competitors. This is 21% above median its historical median of 0.39. Over the past decade, Futong Technology Development Holdings' Net Current Asset Value has ranged from 0.29 to 6.00. According to the industry distribution chart, Futong Technology Development Holdings ranks #1021 out of 1759 companies in the Software industry, placing it in the top 58%.
Is Futong Technology Development Holdings' Net Current Asset Value too high?
Futong Technology Development Holdings' current Net Current Asset Value of HK$0.47 is 21% above median its 10-year median of 0.39. Over the past 10 years, this metric has ranged from a low of 0.29 to a high of 6.00. Based on the distribution chart, Futong Technology Development Holdings ranks #1021 out of 1759 companies in the Software industry, which is below the industry midpoint. Overall, Futong Technology Development Holdings has a GF Score™ of 25/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Futong Technology Development Holdings' Net Current Asset Value compare to IBM and ACN?
According to the Software industry distribution chart, Futong Technology Development Holdings ranks #1021 out of 1759 companies for Net Current Asset Value. This places Futong Technology Development Holdings in the lower half of its industry. The industry median Net Current Asset Value is 4.78. Historically, Futong Technology Development Holdings' own Net Current Asset Value has ranged from 0.29 to 6.00 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 Software company?
The median Net Current Asset Value among Software companies is 4.78, based on 1,759 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 Futong Technology Development Holdings and its competitors. For the Software industry, the median Net Current Asset Value is 4.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Futong Technology Development Holdings's current Net Current Asset Value is HK$0.47, which is 21% above median its own 10-year median of 0.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Futong Technology Development Holdings stock overvalued right now?
Based on GuruFocus' analysis, Futong Technology Development Holdings (HKSE:00465) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.20, compared to a current price of HK$2.82 — trading 1310% above its estimated fair value. The current Net Current Asset Value is HK$0.47, which is 21% above median its 10-year median of 0.39. Futong Technology Development Holdings' overall GF Score™ is 25/100 with 3 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 Futong Technology Development Holdings (HKSE:00465), the current Net Current Asset Value is HK$0.47 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 Futong Technology Development Holdings (HKSE:00465) Overvalued in 2026?
Based on GuruFocus' analysis, Futong Technology Development Holdings stock appears to be overvalued.
The current stock price of HK$2.82 is trading 1310% above its estimated GF Value™ of HK$0.20.
GuruFocus considers Futong Technology Development Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:00465:
Net Current Asset Value: HK$0.47 (21% above median its 10-year median of 0.39)
GF Value™: HK$0.20 vs. price of HK$2.82 (1310% above fair value)
No single metric tells the full story. See the HKSE:00465 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Futong Technology Development Holdings Business Description
Futong Technology Development Holdings Ltd is an enterprise digital transformation services provider in China. It uses technologies such as cloud computing and AI to provide enterprise customers with digital products, solutions, and professional IT services. The Group's two key product offerings are Cloud Intelligence and Data Intelligence. Maximum revenue is derived from Cloud Intelligence product offerings, which include its proprietary cloud-computing products, including CloudScape, CloudOne, CloudShare, CloudObs, and CloudAtlas. The Data Intelligence products include Voice of Customer, IntelligenceCore Data Workshop, and IntelligenceCore AI Agent Management Platform, among others, integrating AI technology into the different business scenarios of customers in various industries.
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