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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).
Jacobson Pharma's net current asset value per share for the quarter that ended in Mar. 2026 was HK$-0.13.
The historical rank and industry rank for Jacobson Pharma's Net Current Asset Value or its related term are showing as below:
HKSE:02633's Price-to-Net-Current-Asset-Value is not ranked *
in the Drug Manufacturers industry.
Industry Median: 6.2 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Jacobson Pharma (HKSE:02633) 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.
Jacobson Pharma Net Current Asset Value Related Terms
Jacobson Pharma Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Jacobson Pharma'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:02633 vs ZTS: Net Current Asset Value Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Jacobson Pharma'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.
Jacobson Pharma Price-to-Net-Current-Asset-Value vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Jacobson Pharma's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Jacobson Pharma'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$-0.13 mean?
Jacobson Pharma (HKSE:02633) has a Net Current Asset Value of HK$-0.13 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Jacobson Pharma and its competitors. According to the industry distribution chart, Jacobson Pharma ranks #999999 out of 603 companies in the Drug Manufacturers industry.
Is Jacobson Pharma's Net Current Asset Value too high?
Jacobson Pharma's current Net Current Asset Value is HK$-0.13. Based on the distribution chart, Jacobson Pharma ranks #999999 out of 603 companies in the Drug Manufacturers industry, which is in the bottom quartile relative to peers. Overall, Jacobson Pharma has a GF Score™ of 56/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Jacobson Pharma's Net Current Asset Value compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Jacobson Pharma ranks #999999 out of 603 companies for Net Current Asset Value. This places Jacobson Pharma in the lower half of its industry. The industry median Net Current Asset Value is 6.20. 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 Drug Manufacturers company?
The median Net Current Asset Value among Drug Manufacturers companies is 6.20, based on 603 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 Jacobson Pharma and its competitors. For the Drug Manufacturers industry, the median Net Current Asset Value is 6.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Jacobson Pharma's current Net Current Asset Value is HK$-0.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jacobson Pharma stock overvalued right now?
Based on GuruFocus' analysis, Jacobson Pharma (HKSE:02633) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$0.85, compared to a current price of HK$1.04 — trading 21.8% above its estimated fair value. The current Net Current Asset Value is HK$-0.13. Jacobson Pharma's overall GF Score™ is 56/100 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 Jacobson Pharma (HKSE:02633), the current Net Current Asset Value is HK$-0.13 as of Mar. 2026. 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 Jacobson Pharma (HKSE:02633) Overvalued in 2026?
Based on GuruFocus' analysis, Jacobson Pharma stock appears to be overvalued.
The current stock price of HK$1.04 is trading 21.8% above its estimated GF Value™ of HK$0.85.
GuruFocus considers Jacobson Pharma to be Modestly Overvalued.
Key valuation signals for HKSE:02633:
Net Current Asset Value: HK$-0.13
GF Value™: HK$0.85 vs. price of HK$1.04 (21.8% above fair value)
No single metric tells the full story. See the HKSE:02633 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Jacobson Pharma Corp Ltd is an investment holding company. It is principally engaged in the development, production, marketing, and sale of generic drugs. The company's operating segment includes Generic drugs; Branded healthcare, Wholesale, and retail The generic drugs segment develops, manufactures, and distributes a host of off-patent medicines for various therapeutic use. It generates maximum revenue from the Generic drugs segment. Geographically, it derives a majority of its revenue from Hong Kong and also has a presence in Mainland China, Macau, Singapore, and Other Countries.
56GF Score
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