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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:00840's Price-to-Net-Current-Asset-Value is ranked better than 97.22% of 144
companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 3.695
vs HKSE:00840: 0.60
Xinjiang Tianye Waterving Irrigation System Co (HKSE:00840) 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.
Xinjiang Tianye Waterving Irrigation System Co Net Current Asset Value Related Terms
Xinjiang Tianye Waterving Irrigation System Co 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.
Xinjiang Tianye Waterving Irrigation System Co Net Current Asset Value Chart
Xinjiang Tianye Waterving Irrigation System Co Annual Data
HKSE:00840 vs CAT, DE, PCAR: Net Current Asset Value Comparison
For the Farm & Heavy Construction Machinery subindustry, Xinjiang Tianye Waterving Irrigation System Co'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.
Xinjiang Tianye Waterving Irrigation System Co Price-to-Net-Current-Asset-Value vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Xinjiang Tianye Waterving Irrigation System Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Xinjiang Tianye Waterving Irrigation System Co'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$0.27 mean?
Xinjiang Tianye Waterving Irrigation System Co (HKSE:00840) has a Net Current Asset Value of HK$0.27 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 Xinjiang Tianye Waterving Irrigation System Co and its competitors. This is 39% below median its historical median of 0.44. Over the past decade, Xinjiang Tianye Waterving Irrigation System Co's Net Current Asset Value has ranged from 0.34 to 0.79. According to the industry distribution chart, Xinjiang Tianye Waterving Irrigation System Co ranks #4 out of 144 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 2.8%.
Is Xinjiang Tianye Waterving Irrigation System Co's Net Current Asset Value too high?
Xinjiang Tianye Waterving Irrigation System Co's current Net Current Asset Value of HK$0.27 is 39% below median its 10-year median of 0.44. Over the past 10 years, this metric has ranged from a low of 0.34 to a high of 0.79. Based on the distribution chart, Xinjiang Tianye Waterving Irrigation System Co ranks #4 out of 144 companies in the Farm & Heavy Construction Machinery industry, which is in the top quartile — a strong position relative to peers. Overall, Xinjiang Tianye Waterving Irrigation System Co has a GF Score™ of 26/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Xinjiang Tianye Waterving Irrigation System Co's Net Current Asset Value compare to CAT and DE?
According to the Farm & Heavy Construction Machinery industry distribution chart, Xinjiang Tianye Waterving Irrigation System Co ranks #4 out of 144 companies for Net Current Asset Value. This places Xinjiang Tianye Waterving Irrigation System Co in the top 3% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 3.70. Historically, Xinjiang Tianye Waterving Irrigation System Co's own Net Current Asset Value has ranged from 0.34 to 0.79 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 Farm & Heavy Construction Machinery company?
The median Net Current Asset Value among Farm & Heavy Construction Machinery companies is 3.70, based on 144 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 Xinjiang Tianye Waterving Irrigation System Co and its competitors. For the Farm & Heavy Construction Machinery industry, the median Net Current Asset Value is 3.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Xinjiang Tianye Waterving Irrigation System Co's current Net Current Asset Value is HK$0.27, which is 39% below median its own 10-year median of 0.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Xinjiang Tianye Waterving Irrigation System Co stock overvalued right now?
Based on GuruFocus' analysis, Xinjiang Tianye Waterving Irrigation System Co (HKSE:00840) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.08, compared to a current price of HK$0.16 — trading 103.8% above its estimated fair value. The current Net Current Asset Value is HK$0.27, which is 39% below median its 10-year median of 0.44. Xinjiang Tianye Waterving Irrigation System Co's overall GF Score™ is 26/100 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 Xinjiang Tianye Waterving Irrigation System Co (HKSE:00840), the current Net Current Asset Value is HK$0.27 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 Xinjiang Tianye Waterving Irrigation System Co (HKSE:00840) Overvalued in 2026?
Based on GuruFocus' analysis, Xinjiang Tianye Waterving Irrigation System Co stock appears to be overvalued.
The current stock price of HK$0.16 is trading 103.8% above its estimated GF Value™ of HK$0.08.
GuruFocus considers Xinjiang Tianye Waterving Irrigation System Co to be Significantly Overvalued.
Key valuation signals for HKSE:00840:
Net Current Asset Value: HK$0.27 (39% below median its 10-year median of 0.44)
GF Value™: HK$0.08 vs. price of HK$0.16 (103.8% above fair value)
No single metric tells the full story. See the HKSE:00840 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Xinjiang Tianye Water Saving Irrigation System Co Ltd is a China-based firm engaged in the manufacture of plastic products. Its activities include the production and marketing of agricultural plastic water-saving irrigation equipment and plastic pipelines, and construction and installation of water-saving irrigation systems. The company's products include the PVC materials for water supply pipes, PE piping materials and accessories, pressure compensatory drip tapes, labyrinth-style drip tapes, embedded-style drip tapes, agricultural tapes and drippers. It also offers installation services for water-saving irrigation systems.
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