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China Resources Beverage (Holdings) CoHKSE:02460 -1.73%21 Net Current Asset Value is HK$1.39 as of Dec. 2025, which is 100% below its 10-year median of 6.54. GuruFocus rates HKSE:02460 with a GF Score™ of 21/100. The stock has 5 warning signs investors should review. Among 64 Beverages - Non-Alcoholic companies, China Resources Beverage (Holdings) Co ranks better than 56.25% 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).
HKSE:02460'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 5.35 Med: 6.54 Max: 7.26
Current: 5.73
During the past 5 years, the highest Price-to-Net-Current-Asset-Value Ratio of China Resources Beverage (Holdings) Co was 7.26. The lowest was 5.35. And the median was 6.54.
HKSE:02460's Price-to-Net-Current-Asset-Value is ranked better than 56.25% of 64
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 6.925
vs HKSE:02460: 5.73
China Resources Beverage (Holdings) Co (HKSE:02460) 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 Resources Beverage (Holdings) Co Net Current Asset Value Related Terms
China Resources Beverage (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 Resources Beverage (Holdings) Co Net Current Asset Value Chart
China Resources Beverage (Holdings) Co Annual Data
Trend
Dec21
Dec22
Dec23
Dec24
Dec25
Net Current Asset Value
1.41
1.24
-0.25
2.03
1.39
China Resources Beverage (Holdings) Co Semi-Annual Data
HKSE:02460 vs KO, PEP, MNST: Net Current Asset Value Comparison
For the Beverages - Non-Alcoholic subindustry, China Resources Beverage (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 Resources Beverage (Holdings) Co Price-to-Net-Current-Asset-Value vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, China Resources Beverage (Holdings) Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where China Resources Beverage (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$1.39 mean?
China Resources Beverage (Holdings) Co (HKSE:02460) has a Net Current Asset Value of HK$1.39 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 Resources Beverage (Holdings) Co and its competitors. This is 79% below median its historical median of 6.54. Over the past decade, China Resources Beverage (Holdings) Co's Net Current Asset Value has ranged from 5.35 to 7.26. According to the industry distribution chart, China Resources Beverage (Holdings) Co ranks #28 out of 64 companies in the Beverages - Non-Alcoholic industry, placing it in the top 43.7%.
Is China Resources Beverage (Holdings) Co's Net Current Asset Value too high?
China Resources Beverage (Holdings) Co's current Net Current Asset Value of HK$1.39 is 79% below median its 10-year median of 6.54. Over the past 10 years, this metric has ranged from a low of 5.35 to a high of 7.26. Based on the distribution chart, China Resources Beverage (Holdings) Co ranks #28 out of 64 companies in the Beverages - Non-Alcoholic industry, which is above the industry midpoint. Overall, China Resources Beverage (Holdings) Co has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does China Resources Beverage (Holdings) Co's Net Current Asset Value compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, China Resources Beverage (Holdings) Co ranks #28 out of 64 companies for Net Current Asset Value. This puts China Resources Beverage (Holdings) Co in the upper half of its industry. The industry median Net Current Asset Value is 6.93. Historically, China Resources Beverage (Holdings) Co's own Net Current Asset Value has ranged from 5.35 to 7.26 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 Beverages - Non-Alcoholic company?
The median Net Current Asset Value among Beverages - Non-Alcoholic companies is 6.93, based on 64 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 Resources Beverage (Holdings) Co and its competitors. For the Beverages - Non-Alcoholic industry, the median Net Current Asset Value is 6.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Resources Beverage (Holdings) Co's current Net Current Asset Value is HK$1.39, which is 79% below median its own 10-year median of 6.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Resources Beverage (Holdings) Co stock overvalued right now?
China Resources Beverage (Holdings) Co (HKSE:02460) has a current Net Current Asset Value of HK$1.39. The current Net Current Asset Value is HK$1.39, which is 79% below median its 10-year median of 6.54. China Resources Beverage (Holdings) Co's overall GF Score™ is 21/100 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 China Resources Beverage (Holdings) Co (HKSE:02460), the current Net Current Asset Value is HK$1.39 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.
China Resources Beverage is the second-largest bottled water producer in China and a subsidiary of China Resources Group, a state-owned conglomerate. The bottled water business accounts for around 90% of the company's revenue, with C'estbon being the flagship product. The company has been leveraging its distribution network developed for water products to expand the scale of its nonwater beverages products, which accounts for roughly 10% of the company's revenue.
21GF Score
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