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SMIT HoldingsHKSE:02239 40 Net Current Asset Value is HK$0.66 as of Dec. 2025. GuruFocus rates HKSE:02239 with a GF Score™ of 40/100 and a GF Value™ of HK$0.82 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 731 Semiconductors companies, SMIT Holdings ranks better than 90.83% on this metric.
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).
SMIT Holdings's net current asset value per share for the quarter that ended in Dec. 2025 was HK$0.66.
The historical rank and industry rank for SMIT Holdings's Net Current Asset Value or its related term are showing as below:
HKSE:02239'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.21 Med: 3.22 Max: 236
Current: 1.68
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of SMIT Holdings was 236.00. The lowest was 1.21. And the median was 3.22.
HKSE:02239's Price-to-Net-Current-Asset-Value is ranked better than 90.83% of 731
companies
in the Semiconductors industry
Industry Median: 7.36
vs HKSE:02239: 1.68
SMIT Holdings (HKSE:02239) 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.
SMIT Holdings Net Current Asset Value Related Terms
SMIT Holdings Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for SMIT Holdings's Net Current Asset Value can be seen below:
* 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.
HKSE:02239 vs NVDA, AVGO, MU: Net Current Asset Value Comparison
For the Semiconductors subindustry, SMIT 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.
SMIT Holdings Price-to-Net-Current-Asset-Value vs Semiconductors Industry
For the Semiconductors industry and Technology sector, SMIT Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where SMIT 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$0.66 mean?
SMIT Holdings (HKSE:02239) has a Net Current Asset Value of HK$0.66 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 SMIT Holdings and its competitors. According to the industry distribution chart, SMIT Holdings ranks #67 out of 731 companies in the Semiconductors industry, placing it in the top 9.2%.
Is SMIT Holdings' Net Current Asset Value too high?
SMIT Holdings' current Net Current Asset Value is HK$0.66. Based on the distribution chart, SMIT Holdings ranks #67 out of 731 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, SMIT Holdings has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SMIT Holdings' Net Current Asset Value compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, SMIT Holdings ranks #67 out of 731 companies for Net Current Asset Value. This places SMIT Holdings in the top 9% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 7.36. 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 Semiconductors company?
The median Net Current Asset Value among Semiconductors companies is 7.36, based on 731 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 SMIT Holdings and its competitors. For the Semiconductors industry, the median Net Current Asset Value is 7.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SMIT Holdings's current Net Current Asset Value is HK$0.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SMIT Holdings stock overvalued right now?
Based on GuruFocus' analysis, SMIT Holdings (HKSE:02239) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.82, compared to a current price of HK$1.28 — trading 56.1% above its estimated fair value. The current Net Current Asset Value is HK$0.66. SMIT Holdings' overall GF Score™ is 40/100 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 SMIT Holdings (HKSE:02239), the current Net Current Asset Value is HK$0.66 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 SMIT Holdings (HKSE:02239) Overvalued in 2026?
Based on GuruFocus' analysis, SMIT Holdings stock appears to be overvalued.
The current stock price of HK$1.28 is trading 56.1% above its estimated GF Value™ of HK$0.82.
GuruFocus considers SMIT Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:02239:
Net Current Asset Value: HK$0.66
GF Value™: HK$0.82 vs. price of HK$1.28 (56.1% above fair value)
No single metric tells the full story. See the HKSE:02239 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SMIT Holdings Ltd is an investment holding company. The company is principally engaged in the development and sales of conditional access modules; research, development and sales of smart sensing-oriented products and solution; and provision of integrated circuit solutions. The company has four reportable segments: CAM, Intelligent Sense, Investments, and Other businesses. The company generates the majority of its revenue from the CAM segment is engaged in the development and sales of security products that enable secure distribution and delivery of digital content to television. Geographically, the company generates the majority of its revenue from Europe, followed by China (including Hong Kong) and Others.
40GF Score
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