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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:01940'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 3.75 Med: 7.82 Max: 11.88
Current: 4.92
During the past 9 years, the highest Price-to-Net-Current-Asset-Value Ratio of China Gas Industry Investment Holdings Co was 11.88. The lowest was 3.75. And the median was 7.82.
HKSE:01940's Price-to-Net-Current-Asset-Value is ranked worse than 53.19% of 94
companies
in the Utilities - Regulated industry
Industry Median: 4.26
vs HKSE:01940: 4.92
China Gas Industry Investment Holdings Co (HKSE:01940) 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.
China Gas Industry Investment Holdings Co Net Current Asset Value Related Terms
China Gas Industry Investment Holdings 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.
China Gas Industry Investment Holdings Co Net Current Asset Value Chart
China Gas Industry Investment Holdings Co Annual Data
HKSE:01940 vs ATO, NI: Net Current Asset Value Comparison
For the Utilities - Regulated Gas subindustry, China Gas Industry Investment Holdings 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.
China Gas Industry Investment Holdings Co Price-to-Net-Current-Asset-Value vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, China Gas Industry Investment Holdings Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where China Gas Industry Investment Holdings 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$0.24 mean?
China Gas Industry Investment Holdings Co (HKSE:01940) has a Net Current Asset Value of HK$0.24 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 China Gas Industry Investment Holdings Co and its competitors. According to the industry distribution chart, China Gas Industry Investment Holdings Co ranks #50 out of 94 companies in the Utilities - Regulated industry, placing it in the top 53.2%.
Is China Gas Industry Investment Holdings Co's Net Current Asset Value too high?
China Gas Industry Investment Holdings Co's current Net Current Asset Value is HK$0.24. Based on the distribution chart, China Gas Industry Investment Holdings Co ranks #50 out of 94 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, China Gas Industry Investment Holdings Co has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Gas Industry Investment Holdings Co's Net Current Asset Value compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, China Gas Industry Investment Holdings Co ranks #50 out of 94 companies for Net Current Asset Value. This places China Gas Industry Investment Holdings Co in the lower half of its industry. The industry median Net Current Asset Value is 4.26. 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 Utilities - Regulated company?
The median Net Current Asset Value among Utilities - Regulated companies is 4.26, based on 94 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 China Gas Industry Investment Holdings Co and its competitors. For the Utilities - Regulated industry, the median Net Current Asset Value is 4.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Gas Industry Investment Holdings Co's current Net Current Asset Value is HK$0.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Gas Industry Investment Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, China Gas Industry Investment Holdings Co (HKSE:01940) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.53, compared to a current price of HK$1.18 — trading 122.6% above its estimated fair value. The current Net Current Asset Value is HK$0.24. China Gas Industry Investment Holdings Co's overall GF Score™ is 63/100 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 China Gas Industry Investment Holdings Co (HKSE:01940), the current Net Current Asset Value is HK$0.24 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 China Gas Industry Investment Holdings Co (HKSE:01940) Overvalued in 2026?
Based on GuruFocus' analysis, China Gas Industry Investment Holdings Co stock appears to be overvalued.
The current stock price of HK$1.18 is trading 122.6% above its estimated GF Value™ of HK$0.53.
GuruFocus considers China Gas Industry Investment Holdings Co to be Significantly Overvalued.
Key valuation signals for HKSE:01940:
Net Current Asset Value: HK$0.24
GF Value™: HK$0.53 vs. price of HK$1.18 (122.6% above fair value)
No single metric tells the full story. See the HKSE:01940 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Gas Industry Investment Holdings Co Ltd is a China-based industrial gas supplier principally engaged in the supply of pipeline industrial gas and liquefied industrial gas. The company also operates an LNG-related business, including the supply of LNG and the provision of gas transmission services. Its industrial gas products include oxygen, nitrogen, argon, hydrogen, and carbon dioxide, which are supplied to industrial end users. Its segments include the Supply of industrial gas; Liquefied natural gas (LNG) and gas transmission service; and Technical support and management services. It generates the majority of its revenue from the Supply of industrial gas segment.
63GF Score
Get the complete analysis for HKSE:01940
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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