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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).
Central Development Holdings's net current asset value per share for the quarter that ended in Mar. 2026 was HK$-0.29.
The historical rank and industry rank for Central Development Holdings's Net Current Asset Value or its related term are showing as below:
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Central Development Holdings was 32.50. The lowest was 11.15. And the median was 21.83.
HKSE:00475's Price-to-Net-Current-Asset-Value is not ranked *
in the Oil & Gas industry.
Industry Median: 3.89 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Central Development Holdings (HKSE:00475) 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.
Central Development Holdings Net Current Asset Value Related Terms
Central 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.
Central Development Holdings Net Current Asset Value Chart
HKSE:00475 vs MPC, VLO, PSX: Net Current Asset Value Comparison
For the Oil & Gas Refining & Marketing subindustry, Central 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.
Central Development Holdings Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Central Development Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Central 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$-0.29 mean?
Central Development Holdings (HKSE:00475) has a Net Current Asset Value of HK$-0.29 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Central Development Holdings and its competitors. Over the past decade, Central Development Holdings' Net Current Asset Value has ranged from 11.15 to 32.50. According to the industry distribution chart, Central Development Holdings ranks #999999 out of 302 companies in the Oil & Gas industry.
Is Central Development Holdings' Net Current Asset Value too high?
Central Development Holdings' current Net Current Asset Value is HK$-0.29. Over the past 10 years, this metric has ranged from a low of 11.15 to a high of 32.50. Based on the distribution chart, Central Development Holdings ranks #999999 out of 302 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Central Development Holdings has a GF Score™ of 18/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Central Development Holdings' Net Current Asset Value compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, Central Development Holdings ranks #999999 out of 302 companies for Net Current Asset Value. This places Central Development Holdings in the lower half of its industry. The industry median Net Current Asset Value is 3.89. Historically, Central Development Holdings' own Net Current Asset Value has ranged from 11.15 to 32.50 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 an Oil & Gas company?
The median Net Current Asset Value among Oil & Gas companies is 3.89, based on 302 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 Central Development Holdings and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Central Development Holdings's current Net Current Asset Value is HK$-0.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Central Development Holdings stock overvalued right now?
Based on GuruFocus' analysis, Central Development Holdings (HKSE:00475) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.26, compared to a current price of HK$0.41 — trading 57.7% above its estimated fair value. The current Net Current Asset Value is HK$-0.29. Central Development Holdings' overall GF Score™ is 18/100 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 Central Development Holdings (HKSE:00475), the current Net Current Asset Value is HK$-0.29 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 Central Development Holdings (HKSE:00475) Overvalued in 2026?
Based on GuruFocus' analysis, Central Development Holdings stock appears to be overvalued.
The current stock price of HK$0.41 is trading 57.7% above its estimated GF Value™ of HK$0.26.
GuruFocus considers Central Development Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:00475:
Net Current Asset Value: HK$-0.29
GF Value™: HK$0.26 vs. price of HK$0.41 (57.7% above fair value)
No single metric tells the full story. See the HKSE:00475 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Central Development Holdings Ltd is principally engaged in the Jewelry business and Solar energy business segments. The Jewelry business segment involves the wholesale of jewelry. Its Energy Business segment is principally engaged in the manufacturing and sales of solar cooling intelligent technology products using thermal cooling-stored pipes and sales of solar photovoltaic modules and components, as well as sales of refined oil and sales of liquefied natural gas (LNG). The company generates maximum revenue from the Energy segment. Geographically, it derives a majority of its revenue from the PRC.
18GF Score
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