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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 E-Star Commercial Management Co's Net Current Asset Value or its related term are showing as below:
HKSE:06668'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.86 Med: 3.06 Max: 5.73
Current: 3.14
During the past 9 years, the highest Price-to-Net-Current-Asset-Value Ratio of E-Star Commercial Management Co was 5.73. The lowest was 2.86. And the median was 3.06.
HKSE:06668's Price-to-Net-Current-Asset-Value is ranked worse than 61.84% of 760
companies
in the Real Estate industry
Industry Median: 2.18
vs HKSE:06668: 3.14
E-Star Commercial Management Co (HKSE:06668) 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.
E-Star Commercial Management Co Net Current Asset Value Related Terms
E-Star Commercial Management 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.
E-Star Commercial Management Co Net Current Asset Value Chart
HKSE:06668 vs CBRE, BEKE, JLL: Net Current Asset Value Comparison
For the Real Estate Services subindustry, E-Star Commercial Management 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.
E-Star Commercial Management Co Price-to-Net-Current-Asset-Value vs Real Estate Industry
For the Real Estate industry and Real Estate sector, E-Star Commercial Management Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where E-Star Commercial Management 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$0.41 mean?
E-Star Commercial Management Co (HKSE:06668) has a Net Current Asset Value of HK$0.41 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 E-Star Commercial Management Co and its competitors. According to the industry distribution chart, E-Star Commercial Management Co ranks #470 out of 760 companies in the Real Estate industry, placing it in the top 61.8%.
Is E-Star Commercial Management Co's Net Current Asset Value too high?
E-Star Commercial Management Co's current Net Current Asset Value is HK$0.41. Based on the distribution chart, E-Star Commercial Management Co ranks #470 out of 760 companies in the Real Estate industry, which is below the industry midpoint. Overall, E-Star Commercial Management Co has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does E-Star Commercial Management Co's Net Current Asset Value compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, E-Star Commercial Management Co ranks #470 out of 760 companies for Net Current Asset Value. This places E-Star Commercial Management Co in the lower half of its industry. The industry median Net Current Asset Value is 2.18. 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 2.18, based on 760 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 E-Star Commercial Management Co and its competitors. For the Real Estate industry, the median Net Current Asset Value is 2.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. E-Star Commercial Management Co's current Net Current Asset Value is HK$0.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is E-Star Commercial Management Co stock overvalued right now?
Based on GuruFocus' analysis, E-Star Commercial Management Co (HKSE:06668) is currently considered Fairly Valued. The stock's GF Value™ is HK$1.35, compared to a current price of HK$1.38 — trading 2.2% above its estimated fair value. The current Net Current Asset Value is HK$0.41. E-Star Commercial Management Co's overall GF Score™ is 89/100 with 10 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 E-Star Commercial Management Co (HKSE:06668), the current Net Current Asset Value is HK$0.41 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 E-Star Commercial Management Co (HKSE:06668) Overvalued in 2026?
Based on GuruFocus' analysis, E-Star Commercial Management Co stock appears to be overvalued.
The current stock price of HK$1.38 is trading 2.2% above its estimated GF Value™ of HK$1.35.
GuruFocus considers E-Star Commercial Management Co to be Fairly Valued.
Key valuation signals for HKSE:06668:
Net Current Asset Value: HK$0.41
GF Value™: HK$1.35 vs. price of HK$1.38 (2.2% above fair value)
No single metric tells the full story. See the HKSE:06668 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
E-Star Commercial Management Co Ltd is a commercial property operational service provider in China. It is engaged in providing consultancy services to property owners; tenant sourcing services, and operational management services to tenants and property owners, and rent collection services; property leasing services including sublease of commercial spaces; and value-added services including management of common areas in the shopping centers and management of advertising spaces, such as LED boards and interior and exterior facades of the shopping centers. the Group's operations are mainly in the PRC. The Group generates revenue from provision of commercial property operational services to either owners or tenants in respect of the commercial properties in the PRC.
89GF Score
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Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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