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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).
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Overseas Chinese Town (Asia) Holdings was 4.90. The lowest was 1.04. And the median was 2.97.
HKSE:03366's Price-to-Net-Current-Asset-Value is not ranked *
in the Real Estate industry.
Industry Median: 2.19 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Overseas Chinese Town (Asia) Holdings (HKSE:03366) 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.
Overseas Chinese Town (Asia) Holdings Net Current Asset Value Related Terms
Overseas Chinese Town (Asia) Holdings 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.
Overseas Chinese Town (Asia) Holdings Net Current Asset Value Chart
Overseas Chinese Town (Asia) Holdings Net Current Asset Value Competitor Comparison
For the Real Estate - Development subindustry, Overseas Chinese Town (Asia) 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.
Overseas Chinese Town (Asia) Holdings Price-to-Net-Current-Asset-Value vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Overseas Chinese Town (Asia) Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Overseas Chinese Town (Asia) 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$-7.31 mean?
Overseas Chinese Town (Asia) Holdings (HKSE:03366) has a Net Current Asset Value of HK$-7.31 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 Overseas Chinese Town (Asia) Holdings and its competitors. Over the past decade, Overseas Chinese Town (Asia) Holdings' Net Current Asset Value has ranged from 1.04 to 4.90. According to the industry distribution chart, Overseas Chinese Town (Asia) Holdings ranks #999999 out of 761 companies in the Real Estate industry.
Is Overseas Chinese Town (Asia) Holdings' Net Current Asset Value too high?
Overseas Chinese Town (Asia) Holdings' current Net Current Asset Value is HK$-7.31. Over the past 10 years, this metric has ranged from a low of 1.04 to a high of 4.90. Based on the distribution chart, Overseas Chinese Town (Asia) Holdings ranks #999999 out of 761 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Overseas Chinese Town (Asia) Holdings has a GF Score™ of 30/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Overseas Chinese Town (Asia) Holdings' Net Current Asset Value compare to competitors?
According to the Real Estate industry distribution chart, Overseas Chinese Town (Asia) Holdings ranks #999999 out of 761 companies for Net Current Asset Value. This places Overseas Chinese Town (Asia) Holdings in the lower half of its industry. The industry median Net Current Asset Value is 2.19. Historically, Overseas Chinese Town (Asia) Holdings' own Net Current Asset Value has ranged from 1.04 to 4.90 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 Real Estate company?
The median Net Current Asset Value among Real Estate companies is 2.19, based on 761 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 Overseas Chinese Town (Asia) Holdings and its competitors. For the Real Estate industry, the median Net Current Asset Value is 2.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Overseas Chinese Town (Asia) Holdings's current Net Current Asset Value is HK$-7.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Overseas Chinese Town (Asia) Holdings stock overvalued right now?
Based on GuruFocus' analysis, Overseas Chinese Town (Asia) Holdings (HKSE:03366) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.07, compared to a current price of HK$0.21 — trading 200% above its estimated fair value. The current Net Current Asset Value is HK$-7.31. Overseas Chinese Town (Asia) Holdings' overall GF Score™ is 30/100 with 6 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 Overseas Chinese Town (Asia) Holdings (HKSE:03366), the current Net Current Asset Value is HK$-7.31 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 Overseas Chinese Town (Asia) Holdings (HKSE:03366) Overvalued in 2026?
Based on GuruFocus' analysis, Overseas Chinese Town (Asia) Holdings stock appears to be overvalued.
The current stock price of HK$0.21 is trading 200% above its estimated GF Value™ of HK$0.07.
GuruFocus considers Overseas Chinese Town (Asia) Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:03366:
Net Current Asset Value: HK$-7.31
GF Value™: HK$0.07 vs. price of HK$0.21 (200% above fair value)
No single metric tells the full story. See the HKSE:03366 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Overseas Chinese Town (Asia) Holdings Ltd is an investment holding company engaged in comprehensive development, equity investment and fund management. The company's segments include Comprehensive development business engaged in development and sale of residential properties, development and management of properties, property investment and operation of hotel; and Equity investment and fund business segment engaged in the investment in new urbanization industrial ecosphere, such as domestic and overseas direct investments, industrial fund, and education. It derives revenue from sale of properties, hotel revenue and fund management fee income. Geographically, it derives majority of the revenue from Chinese Mainland and Hong Kong.
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