SPC PowerPHS:SPC 81 Net Current Asset Value is ₱3.54 as of Mar. 2026, which is 100% below its 10-year median of 3.83. GuruFocus rates PHS:SPC with a GF Score™ of 81/100 and a GF Value™ of ₱9.26 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 89 Utilities - Regulated companies, SPC Power ranks better than 59.55% 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).
SPC Power's net current asset value per share for the quarter that ended in Mar. 2026 was ₱3.54.
The historical rank and industry rank for SPC Power's Net Current Asset Value or its related term are showing as below:
PHS:SPC'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 1.88 Med: 3.83 Max: 13.24
Current: 3.05
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of SPC Power was 13.24. The lowest was 1.88. And the median was 3.83.
PHS:SPC's Price-to-Net-Current-Asset-Value is ranked better than 59.55% of 89
companies
in the Utilities - Regulated industry
Industry Median: 4.09
vs PHS:SPC: 3.05
SPC Power (PHS:SPC) 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.
SPC Power Net Current Asset Value Related Terms
SPC Power Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for SPC Power'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.
PHS:SPC vs NEE, SO, DUK: Net Current Asset Value Comparison
For the Utilities - Regulated Electric subindustry, SPC Power'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.
SPC Power Price-to-Net-Current-Asset-Value vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, SPC Power's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where SPC Power'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 ₱3.54 mean?
SPC Power (PHS:SPC) has a Net Current Asset Value of ₱3.54 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 SPC Power and its competitors. This is near median its historical median of 3.83. Over the past decade, SPC Power's Net Current Asset Value has ranged from 1.88 to 13.24. According to the industry distribution chart, SPC Power ranks #36 out of 89 companies in the Utilities - Regulated industry, placing it in the top 40.4%.
Is SPC Power's Net Current Asset Value too high?
SPC Power's current Net Current Asset Value of ₱3.54 is near median its 10-year median of 3.83. Over the past 10 years, this metric has ranged from a low of 1.88 to a high of 13.24. Based on the distribution chart, SPC Power ranks #36 out of 89 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, SPC Power has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SPC Power's Net Current Asset Value compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, SPC Power ranks #36 out of 89 companies for Net Current Asset Value. This puts SPC Power in the upper half of its industry. The industry median Net Current Asset Value is 4.09. Historically, SPC Power's own Net Current Asset Value has ranged from 1.88 to 13.24 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 Utilities - Regulated company?
The median Net Current Asset Value among Utilities - Regulated companies is 4.09, based on 89 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 SPC Power and its competitors. For the Utilities - Regulated industry, the median Net Current Asset Value is 4.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SPC Power's current Net Current Asset Value is ₱3.54, which is near median its own 10-year median of 3.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPC Power stock overvalued right now?
Based on GuruFocus' analysis, SPC Power (PHS:SPC) is currently considered Modestly Overvalued. The stock's GF Value™ is ₱9.26, compared to a current price of ₱10.80 — trading 16.6% above its estimated fair value. The current Net Current Asset Value is ₱3.54, which is near median its 10-year median of 3.83. SPC Power's overall GF Score™ is 81/100 with 4 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 SPC Power (PHS:SPC), the current Net Current Asset Value is ₱3.54 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 SPC Power (PHS:SPC) Overvalued in 2026?
Based on GuruFocus' analysis, SPC Power stock appears to be overvalued.
The current stock price of ₱10.80 is trading 16.6% above its estimated GF Value™ of ₱9.26.
GuruFocus considers SPC Power to be Modestly Overvalued.
Key valuation signals for PHS:SPC:
Net Current Asset Value: ₱3.54 (near median its 10-year median of 3.83)
GF Value™: ₱9.26 vs. price of ₱10.80 (16.6% above fair value)
No single metric tells the full story. See the PHS:SPC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SPC Power Corp is managed through two segments: Generation segment which includes generation and supply of power and ancillary services to NPC/PSALM, NGCP, distribution utilities, WESM, and other customers, and Others which includes the operations of SECL, SLCI, CNPC and SMPC such as to manage, operate and invest in power generating plants and related facilities. The majority of revenue is generated from generation segment. It operates and generates revenue principally only in the Philippines.
81GF Score
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