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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).
The historical rank and industry rank for Shanghai Bao Pharmaceuticals Co's Net Current Asset Value or its related term are showing as below:
HKSE:02659'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.27 Med: 31.02 Max: 31.02
Current: 6.38
During the past 3 years, the highest Price-to-Net-Current-Asset-Value Ratio of Shanghai Bao Pharmaceuticals Co was 31.02. The lowest was 6.27. And the median was 31.02.
HKSE:02659's Price-to-Net-Current-Asset-Value is ranked worse than 58.96% of 926
companies
in the Biotechnology industry
Industry Median: 4.975
vs HKSE:02659: 6.38
Shanghai Bao Pharmaceuticals Co (HKSE:02659) 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.
Shanghai Bao Pharmaceuticals Co Net Current Asset Value Related Terms
Shanghai Bao Pharmaceuticals 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.
Shanghai Bao Pharmaceuticals Co Net Current Asset Value Chart
Shanghai Bao Pharmaceuticals Co Annual Data
Trend
Dec23
Dec24
Dec25
Net Current Asset Value
0.47
0.98
2.50
Shanghai Bao Pharmaceuticals Co Semi-Annual Data
Dec23
Jun24
Dec24
Jun25
Dec25
Net Current Asset Value
0.47
0.00
0.98
0.34
2.50
HKSE:02659 vs VRTX, REGN, RVMD: Net Current Asset Value Comparison
For the Biotechnology subindustry, Shanghai Bao Pharmaceuticals 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.
Shanghai Bao Pharmaceuticals Co Price-to-Net-Current-Asset-Value vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Shanghai Bao Pharmaceuticals Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Shanghai Bao Pharmaceuticals 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$2.50 mean?
Shanghai Bao Pharmaceuticals Co (HKSE:02659) has a Net Current Asset Value of HK$2.50 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 Shanghai Bao Pharmaceuticals Co and its competitors. According to the industry distribution chart, Shanghai Bao Pharmaceuticals Co ranks #546 out of 926 companies in the Biotechnology industry, placing it in the top 59%.
Is Shanghai Bao Pharmaceuticals Co's Net Current Asset Value too high?
Shanghai Bao Pharmaceuticals Co's current Net Current Asset Value is HK$2.50. Based on the distribution chart, Shanghai Bao Pharmaceuticals Co ranks #546 out of 926 companies in the Biotechnology industry, which is below the industry midpoint. Overall, Shanghai Bao Pharmaceuticals Co has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Shanghai Bao Pharmaceuticals Co's Net Current Asset Value compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Shanghai Bao Pharmaceuticals Co ranks #546 out of 926 companies for Net Current Asset Value. This places Shanghai Bao Pharmaceuticals Co in the lower half of its industry. The industry median Net Current Asset Value is 4.98. 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 Biotechnology company?
The median Net Current Asset Value among Biotechnology companies is 4.98, based on 926 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 Shanghai Bao Pharmaceuticals Co and its competitors. For the Biotechnology industry, the median Net Current Asset Value is 4.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shanghai Bao Pharmaceuticals Co's current Net Current Asset Value is HK$2.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shanghai Bao Pharmaceuticals Co stock overvalued right now?
Shanghai Bao Pharmaceuticals Co (HKSE:02659) has a current Net Current Asset Value of HK$2.50. The current Net Current Asset Value is HK$2.50. Shanghai Bao Pharmaceuticals Co's overall GF Score™ is 9/100 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 Shanghai Bao Pharmaceuticals Co (HKSE:02659), the current Net Current Asset Value is HK$2.50 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.
Shanghai Bao Pharmaceuticals Co Ltd is a biotechnology company with an approved product and a diverse clinical pipeline, leveraging synthetic biology technology to develop and deliver recombinant biologic drugs in China, targeting conditions with limited treatment options and complex manufacturing challenges. The company has proprietary technology platforms, supported by its chassis cell engineering technology, that combine drug design and bioprocessing capabilities. It has production lines for finished dosage forms, including injectable solutions, lyophilized powder injections, and pre-filled syringes. The group has only one reportable operating segment, which is the research, development, and commercialisation of pharmaceutical products.
9GF Score
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