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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).
South China Financial Holdings's net current asset value per share for the quarter that ended in Dec. 2025 was HK$-0.93.
The historical rank and industry rank for South China Financial 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 South China Financial Holdings was 1.72. The lowest was 0.87. And the median was 1.03.
HKSE:00619's Price-to-Net-Current-Asset-Value is not ranked *
in the Capital Markets industry.
Industry Median: 2.715 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
South China Financial Holdings (HKSE:00619) 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.
South China Financial Holdings Net Current Asset Value Related Terms
South China Financial 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.
South China Financial Holdings Net Current Asset Value Chart
HKSE:00619 vs MS, GS, SCHW: Net Current Asset Value Comparison
For the Capital Markets subindustry, South China Financial 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.
South China Financial Holdings Price-to-Net-Current-Asset-Value vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, South China Financial Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where South China Financial 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$-0.93 mean?
South China Financial Holdings (HKSE:00619) has a Net Current Asset Value of HK$-0.93 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on South China Financial Holdings and its competitors. Over the past decade, South China Financial Holdings' Net Current Asset Value has ranged from 0.87 to 1.72. According to the industry distribution chart, South China Financial Holdings ranks #999999 out of 494 companies in the Capital Markets industry.
Is South China Financial Holdings' Net Current Asset Value too high?
South China Financial Holdings' current Net Current Asset Value is HK$-0.93. Over the past 10 years, this metric has ranged from a low of 0.87 to a high of 1.72. Based on the distribution chart, South China Financial Holdings ranks #999999 out of 494 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, South China Financial Holdings has a GF Score™ of 34/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does South China Financial Holdings' Net Current Asset Value compare to MS and GS?
According to the Capital Markets industry distribution chart, South China Financial Holdings ranks #999999 out of 494 companies for Net Current Asset Value. This places South China Financial Holdings in the lower half of its industry. The industry median Net Current Asset Value is 2.72. Historically, South China Financial Holdings' own Net Current Asset Value has ranged from 0.87 to 1.72 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 Capital Markets company?
The median Net Current Asset Value among Capital Markets companies is 2.72, based on 494 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 South China Financial Holdings and its competitors. For the Capital Markets industry, the median Net Current Asset Value is 2.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. South China Financial Holdings's current Net Current Asset Value is HK$-0.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is South China Financial Holdings stock overvalued right now?
Based on GuruFocus' analysis, South China Financial Holdings (HKSE:00619) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.26, compared to a current price of HK$0.28 — trading 7.7% above its estimated fair value. The current Net Current Asset Value is HK$-0.93. South China Financial Holdings' overall GF Score™ is 34/100 with 5 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 South China Financial Holdings (HKSE:00619), the current Net Current Asset Value is HK$-0.93 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 South China Financial Holdings (HKSE:00619) Overvalued in 2026?
Based on GuruFocus' analysis, South China Financial Holdings stock appears to be overvalued.
The current stock price of HK$0.28 is trading 7.7% above its estimated GF Value™ of HK$0.26.
GuruFocus considers South China Financial Holdings to be Fairly Valued.
Key valuation signals for HKSE:00619:
Net Current Asset Value: HK$-0.93
GF Value™: HK$0.26 vs. price of HK$0.28 (7.7% above fair value)
No single metric tells the full story. See the HKSE:00619 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
South China Financial Holdings Ltd, along with its subsidiaries, provides a comprehensive range of financial services through both traditional and online trading platforms. The Group's offerings include brokerage and trading services across multiple asset classes such as equities, foreign exchange, commodities, financial futures, etc. In addition, it is engaged in corporate finance activities, asset management, corporate financial advisory, and securities underwriting. The Group's reportable operating segments are: Broking, which generates maximum revenue, Trading and investment, Margin financing and money lending, Asset and wealth management, Corporate advisory and underwriting, Property investment, and Others. Geographically, it generates maximum revenue from Hong Kong.
34GF 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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