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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:09903'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0 Med: 0 Max: 49.73
Current: 49.73
During the past 4 years, the highest Price-to-Net-Current-Asset-Value Ratio of Shanghai Iluvatar CoreX Semiconductor Co was 49.73. The lowest was 0.00. And the median was 0.00.
HKSE:09903's Price-to-Net-Current-Asset-Value is ranked worse than 91.2% of 727
companies
in the Semiconductors industry
Industry Median: 7.51
vs HKSE:09903: 49.73
Shanghai Iluvatar CoreX Semiconductor Co (HKSE:09903) 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 Iluvatar CoreX Semiconductor Co Net Current Asset Value Related Terms
Shanghai Iluvatar CoreX Semiconductor 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 Iluvatar CoreX Semiconductor Co Net Current Asset Value Chart
Shanghai Iluvatar CoreX Semiconductor Co Annual Data
Trend
Dec22
Dec23
Dec24
Dec25
Net Current Asset Value
1.75
2.65
1.12
8.14
Shanghai Iluvatar CoreX Semiconductor Co Semi-Annual Data
HKSE:09903 vs NVDA, AVGO, MU: Net Current Asset Value Comparison
For the Semiconductors subindustry, Shanghai Iluvatar CoreX Semiconductor 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 Iluvatar CoreX Semiconductor Co Price-to-Net-Current-Asset-Value vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Shanghai Iluvatar CoreX Semiconductor Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Shanghai Iluvatar CoreX Semiconductor 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$8.14 mean?
Shanghai Iluvatar CoreX Semiconductor Co (HKSE:09903) has a Net Current Asset Value of HK$8.14 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 Iluvatar CoreX Semiconductor Co and its competitors. According to the industry distribution chart, Shanghai Iluvatar CoreX Semiconductor Co ranks #663 out of 727 companies in the Semiconductors industry, placing it in the top 91.2%.
Is Shanghai Iluvatar CoreX Semiconductor Co's Net Current Asset Value too high?
Shanghai Iluvatar CoreX Semiconductor Co's current Net Current Asset Value is HK$8.14. Based on the distribution chart, Shanghai Iluvatar CoreX Semiconductor Co ranks #663 out of 727 companies in the Semiconductors industry, which is in the bottom quartile relative to peers. Overall, Shanghai Iluvatar CoreX Semiconductor Co has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Shanghai Iluvatar CoreX Semiconductor Co's Net Current Asset Value compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Shanghai Iluvatar CoreX Semiconductor Co ranks #663 out of 727 companies for Net Current Asset Value. This places Shanghai Iluvatar CoreX Semiconductor Co in the lower half of its industry. The industry median Net Current Asset Value is 7.51. 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 Semiconductors company?
The median Net Current Asset Value among Semiconductors companies is 7.51, based on 727 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 Iluvatar CoreX Semiconductor Co and its competitors. For the Semiconductors industry, the median Net Current Asset Value is 7.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shanghai Iluvatar CoreX Semiconductor Co's current Net Current Asset Value is HK$8.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shanghai Iluvatar CoreX Semiconductor Co stock overvalued right now?
Shanghai Iluvatar CoreX Semiconductor Co (HKSE:09903) has a current Net Current Asset Value of HK$8.14. The current Net Current Asset Value is HK$8.14. Shanghai Iluvatar CoreX Semiconductor 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 Iluvatar CoreX Semiconductor Co (HKSE:09903), the current Net Current Asset Value is HK$8.14 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 Iluvatar CoreX Semiconductor Co Ltd offers GPGPU products and AI computing solutions across diverse industries. Its product portfolio includes GPGPU chips and accelerators, as well as customized AI computing solutions, including GPGPU servers and clusters, that combine its hardware with proprietary software stack to address specific customer needs in training and inference scenarios. The company specializes in the research, design, and deployment of advanced GPGPU products and AI computing solutions across diverse industries. Geographically, it operates in Chinese Mainland; and Hong Kong, of which it derives maximum revenue from Chinese Mainland.
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