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.
PT Multikarya Asia Pasifik Raya TbkISX:MKAP -0.43%13 Net Current Asset Value is Rp47.24 as of Dec. 2025, which is 100% below its 10-year median of 6.65. GuruFocus rates ISX:MKAP with a GF Score™ of 13/100. The stock has 5 warning signs investors should review. Among 299 Oil & Gas companies, PT Multikarya Asia Pasifik Raya Tbk ranks worse than 86.62% on this metric.
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 PT Multikarya Asia Pasifik Raya Tbk's Net Current Asset Value or its related term are showing as below:
ISX:MKAP'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.05 Med: 6.65 Max: 24.77
Current: 24.66
During the past 5 years, the highest Price-to-Net-Current-Asset-Value Ratio of PT Multikarya Asia Pasifik Raya Tbk was 24.77. The lowest was 6.05. And the median was 6.65.
ISX:MKAP's Price-to-Net-Current-Asset-Value is ranked worse than 86.62% of 299
companies
in the Oil & Gas industry
Industry Median: 3.78
vs ISX:MKAP: 24.66
PT Multikarya Asia Pasifik Raya Tbk (ISX:MKAP) 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.
PT Multikarya Asia Pasifik Raya Tbk Net Current Asset Value Related Terms
PT Multikarya Asia Pasifik Raya Tbk 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.
PT Multikarya Asia Pasifik Raya Tbk Net Current Asset Value Chart
PT Multikarya Asia Pasifik Raya Tbk Annual Data
Trend
Dec20
Dec21
Dec22
Dec24
Dec25
Net Current Asset Value
-10.97
4.39
14.94
38.32
47.24
PT Multikarya Asia Pasifik Raya Tbk Semi-Annual Data
Dec20
Dec21
Dec22
Dec24
Dec25
Net Current Asset Value
-10.97
4.39
14.94
38.32
47.24
ISX:MKAP vs SLB, BKR, HAL: Net Current Asset Value Comparison
For the Oil & Gas Equipment & Services subindustry, PT Multikarya Asia Pasifik Raya Tbk'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.
PT Multikarya Asia Pasifik Raya Tbk Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, PT Multikarya Asia Pasifik Raya Tbk's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where PT Multikarya Asia Pasifik Raya Tbk'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 Rp47.24 mean?
PT Multikarya Asia Pasifik Raya Tbk (ISX:MKAP) has a Net Current Asset Value of Rp47.24 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 PT Multikarya Asia Pasifik Raya Tbk and its competitors. This is 610% above median its historical median of 6.65. Over the past decade, PT Multikarya Asia Pasifik Raya Tbk's Net Current Asset Value has ranged from 6.05 to 24.77. According to the industry distribution chart, PT Multikarya Asia Pasifik Raya Tbk ranks #259 out of 299 companies in the Oil & Gas industry, placing it in the top 86.6%.
Is PT Multikarya Asia Pasifik Raya Tbk's Net Current Asset Value too high?
PT Multikarya Asia Pasifik Raya Tbk's current Net Current Asset Value of Rp47.24 is 610% above median its 10-year median of 6.65. Over the past 10 years, this metric has ranged from a low of 6.05 to a high of 24.77. Based on the distribution chart, PT Multikarya Asia Pasifik Raya Tbk ranks #259 out of 299 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, PT Multikarya Asia Pasifik Raya Tbk has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does PT Multikarya Asia Pasifik Raya Tbk's Net Current Asset Value compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, PT Multikarya Asia Pasifik Raya Tbk ranks #259 out of 299 companies for Net Current Asset Value. This places PT Multikarya Asia Pasifik Raya Tbk in the lower half of its industry. The industry median Net Current Asset Value is 3.78. Historically, PT Multikarya Asia Pasifik Raya Tbk's own Net Current Asset Value has ranged from 6.05 to 24.77 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 an Oil & Gas company?
The median Net Current Asset Value among Oil & Gas companies is 3.78, based on 299 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 PT Multikarya Asia Pasifik Raya Tbk and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Multikarya Asia Pasifik Raya Tbk's current Net Current Asset Value is Rp47.24, which is 610% above median its own 10-year median of 6.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Multikarya Asia Pasifik Raya Tbk stock overvalued right now?
PT Multikarya Asia Pasifik Raya Tbk (ISX:MKAP) has a current Net Current Asset Value of Rp47.24. The current Net Current Asset Value is Rp47.24, which is 610% above median its 10-year median of 6.65. PT Multikarya Asia Pasifik Raya Tbk's overall GF Score™ is 13/100 with 5 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 PT Multikarya Asia Pasifik Raya Tbk (ISX:MKAP), the current Net Current Asset Value is Rp47.24 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.
PT Multikarya Asia Pasifik Raya Tbk Business Description
PT Multikarya Asia Pasifik Raya Tbk is engaged in the manufacturing and trading of services, as well as the rental and repair of pumps and other supporting equipment, including spare parts for the oil, natural gas, and mining industries. The firm operates through two main segments: Spare Parts and Procurement, and Rental and Services, with the majority of its revenue coming from the Spare Parts and Procurement segment. For the oil and gas industry, it offers products and services such as crude oil transfer to and from further processing, water reinjection production, water treatment injection plants, and pumps for mud, cement, and stimulation. In the mining industry, the company provides services for water drying and mud removal, along with reinstallation, repair, and rejuvenation of pump.
13GF Score
Get the complete analysis for ISX:MKAP
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
ISX:MKAP has been successfully added to your 
