Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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).
THAC Group (Holdings)'s net current asset value per share for the quarter that ended in Dec. 2025 was HK$-0.70.
The historical rank and industry rank for THAC Group (Holdings)'s Net Current Asset Value or its related term are showing as below:
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of THAC Group (Holdings) was 80.86. The lowest was 0.58. And the median was 1.79.
HKSE:08232's Price-to-Net-Current-Asset-Value is not ranked *
in the Restaurants industry.
Industry Median: 10.175 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
THAC Group (Holdings) (HKSE:08232) 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.
THAC Group (Holdings) Net Current Asset Value Related Terms
THAC Group (Holdings) Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for THAC Group (Holdings)'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.
THAC Group (Holdings) Net Current Asset Value Chart
HKSE:08232 vs MCD, SBUX, YUM: Net Current Asset Value Comparison
For the Restaurants subindustry, THAC Group (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.
THAC Group (Holdings) Price-to-Net-Current-Asset-Value vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, THAC Group (Holdings)'s Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where THAC Group (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$-0.70 mean?
THAC Group (Holdings) (HKSE:08232) has a Net Current Asset Value of HK$-0.70 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on THAC Group (Holdings) and its competitors. Over the past decade, THAC Group (Holdings)'s Net Current Asset Value has ranged from 0.58 to 80.86. According to the industry distribution chart, THAC Group (Holdings) ranks #999999 out of 72 companies in the Restaurants industry.
Is THAC Group (Holdings)'s Net Current Asset Value too high?
THAC Group (Holdings)'s current Net Current Asset Value is HK$-0.70. Over the past 10 years, this metric has ranged from a low of 0.58 to a high of 80.86. Based on the distribution chart, THAC Group (Holdings) ranks #999999 out of 72 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, THAC Group (Holdings) has a GF Score™ of 25/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does THAC Group (Holdings)'s Net Current Asset Value compare to MCD and SBUX?
According to the Restaurants industry distribution chart, THAC Group (Holdings) ranks #999999 out of 72 companies for Net Current Asset Value. This places THAC Group (Holdings) in the lower half of its industry. The industry median Net Current Asset Value is 10.18. Historically, THAC Group (Holdings)'s own Net Current Asset Value has ranged from 0.58 to 80.86 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 Restaurants company?
The median Net Current Asset Value among Restaurants companies is 10.18, based on 72 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 THAC Group (Holdings) and its competitors. For the Restaurants industry, the median Net Current Asset Value is 10.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. THAC Group (Holdings)'s current Net Current Asset Value is HK$-0.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is THAC Group (Holdings) stock overvalued right now?
Based on GuruFocus' analysis, THAC Group (Holdings) (HKSE:08232) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.25, compared to a current price of HK$0.80 — trading 220% above its estimated fair value. The current Net Current Asset Value is HK$-0.70. THAC Group (Holdings)'s overall GF Score™ is 25/100 with 7 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 THAC Group (Holdings) (HKSE:08232), the current Net Current Asset Value is HK$-0.70 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 THAC Group (Holdings) (HKSE:08232) Overvalued in 2026?
Based on GuruFocus' analysis, THAC Group (Holdings) stock appears to be overvalued.
The current stock price of HK$0.80 is trading 220% above its estimated GF Value™ of HK$0.25.
GuruFocus considers THAC Group (Holdings) to be Significantly Overvalued.
Key valuation signals for HKSE:08232:
Net Current Asset Value: HK$-0.70
GF Value™: HK$0.25 vs. price of HK$0.80 (220% above fair value)
No single metric tells the full story. See the HKSE:08232 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
THAC Group (Holdings) Ltd, formerly known as Classified Group (Holdings) Ltd is a food and beverage company. It is engaged in the Casual restaurant operations segment in which customers would place orders at the front desk and basic table service is provided by the delivery of ordered food to the table. The casual restaurants plans to provide a more casual and relaxing atmosphere. All the group's operations are located in Hong Kong.
25GF Score
Get the complete analysis for HKSE:08232
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HKSE:08232 has been successfully added to your 
