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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).
HKSE:03928'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 5 Med: 19.33 Max: 118.58
Current: 109.58
During the past 10 years, the highest Price-to-Net-Current-Asset-Value Ratio of China Next-Gen Commerce and Supply Chain was 118.58. The lowest was 5.00. And the median was 19.33.
HKSE:03928's Price-to-Net-Current-Asset-Value is ranked worse than 98.32% of 1071
companies
in the Construction industry
Industry Median: 3.37
vs HKSE:03928: 109.58
China Next-Gen Commerce and Supply Chain (HKSE:03928) 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 Next-Gen Commerce and Supply Chain Net Current Asset Value Related Terms
China Next-Gen Commerce and Supply Chain 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 Next-Gen Commerce and Supply Chain Net Current Asset Value Chart
China Next-Gen Commerce and Supply Chain Annual Data
HKSE:03928 vs PWR, FIX, EME: Net Current Asset Value Comparison
For the Engineering & Construction subindustry, China Next-Gen Commerce and Supply Chain'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 Next-Gen Commerce and Supply Chain Price-to-Net-Current-Asset-Value vs Construction Industry
For the Construction industry and Industrials sector, China Next-Gen Commerce and Supply Chain's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where China Next-Gen Commerce and Supply Chain'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$0.24 mean?
China Next-Gen Commerce and Supply Chain (HKSE:03928) has a Net Current Asset Value of HK$0.24 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 China Next-Gen Commerce and Supply Chain and its competitors. According to the industry distribution chart, China Next-Gen Commerce and Supply Chain ranks #1053 out of 1071 companies in the Construction industry, placing it in the top 98.3%.
Is China Next-Gen Commerce and Supply Chain's Net Current Asset Value too high?
China Next-Gen Commerce and Supply Chain's current Net Current Asset Value is HK$0.24. Based on the distribution chart, China Next-Gen Commerce and Supply Chain ranks #1053 out of 1071 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, China Next-Gen Commerce and Supply Chain has a GF Score™ of 52/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Next-Gen Commerce and Supply Chain's Net Current Asset Value compare to PWR and FIX?
According to the Construction industry distribution chart, China Next-Gen Commerce and Supply Chain ranks #1053 out of 1071 companies for Net Current Asset Value. This places China Next-Gen Commerce and Supply Chain in the lower half of its industry. The industry median Net Current Asset Value is 3.37. 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 Construction company?
The median Net Current Asset Value among Construction companies is 3.37, based on 1,071 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 Next-Gen Commerce and Supply Chain and its competitors. For the Construction industry, the median Net Current Asset Value is 3.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Next-Gen Commerce and Supply Chain's current Net Current Asset Value is HK$0.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Next-Gen Commerce and Supply Chain stock overvalued right now?
Based on GuruFocus' analysis, China Next-Gen Commerce and Supply Chain (HKSE:03928) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$1.74, compared to a current price of HK$26.30 — trading 1411.5% above its estimated fair value. The current Net Current Asset Value is HK$0.24. China Next-Gen Commerce and Supply Chain's overall GF Score™ is 52/100 with 3 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 Next-Gen Commerce and Supply Chain (HKSE:03928), the current Net Current Asset Value is HK$0.24 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 China Next-Gen Commerce and Supply Chain (HKSE:03928) Overvalued in 2026?
Based on GuruFocus' analysis, China Next-Gen Commerce and Supply Chain stock appears to be overvalued.
The current stock price of HK$26.30 is trading 1411.5% above its estimated GF Value™ of HK$1.74.
GuruFocus considers China Next-Gen Commerce and Supply Chain to be Significantly Overvalued.
Key valuation signals for HKSE:03928:
Net Current Asset Value: HK$0.24
GF Value™: HK$1.74 vs. price of HK$26.30 (1411.5% above fair value)
No single metric tells the full story. See the HKSE:03928 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Next-Gen Commerce and Supply Chain Ltd is an investment holding company. Along with its subsidiaries, the company is principally engaged in the provision of construction services and property investment in Singapore. It has two operating segments as follows: i) Construction services: provision of civil engineering works, building construction works and other ancillary services to government and commercial corporations. ii) Property investment: leasing of residential and industrial properties. The majority of the company's revenue is derived from the Construction services segment. Geographically, the company derives all of its revenue from Singapore.
52GF Score
Get the complete analysis for HKSE:03928
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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