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Harbin Air Conditioning CoSHSE:600202 +4.28%57 Net Current Asset Value is ¥0.32 as of Mar. 2026, which is 100% below its 10-year median of 14.75. GuruFocus rates SHSE:600202 with a GF Score™ of 57/100 and a GF Value™ of ¥6.30 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,063 Construction companies, Harbin Air Conditioning Co ranks worse than 84.76% 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).
Harbin Air Conditioning Co's net current asset value per share for the quarter that ended in Mar. 2026 was ¥0.32.
The historical rank and industry rank for Harbin Air Conditioning Co's Net Current Asset Value or its related term are showing as below:
SHSE:600202'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.4 Med: 14.75 Max: 113.33
Current: 13.72
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Harbin Air Conditioning Co was 113.33. The lowest was 6.40. And the median was 14.75.
SHSE:600202's Price-to-Net-Current-Asset-Value is ranked worse than 84.76% of 1063
companies
in the Construction industry
Industry Median: 3.2
vs SHSE:600202: 13.72
Harbin Air Conditioning Co (SHSE:600202) 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.
Harbin Air Conditioning Co Net Current Asset Value Related Terms
Harbin Air Conditioning 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.
Harbin Air Conditioning Co Net Current Asset Value Chart
SHSE:600202 vs TT, JCI, CARR: Net Current Asset Value Comparison
For the Building Products & Equipment subindustry, Harbin Air Conditioning 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.
Harbin Air Conditioning Co Price-to-Net-Current-Asset-Value vs Construction Industry
For the Construction industry and Industrials sector, Harbin Air Conditioning Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Harbin Air Conditioning 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 ¥0.32 mean?
Harbin Air Conditioning Co (SHSE:600202) has a Net Current Asset Value of ¥0.32 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 Harbin Air Conditioning Co and its competitors. This is 98% below median its historical median of 14.75. Over the past decade, Harbin Air Conditioning Co's Net Current Asset Value has ranged from 6.40 to 113.33. According to the industry distribution chart, Harbin Air Conditioning Co ranks #901 out of 1063 companies in the Construction industry, placing it in the top 84.8%.
Is Harbin Air Conditioning Co's Net Current Asset Value too high?
Harbin Air Conditioning Co's current Net Current Asset Value of ¥0.32 is 98% below median its 10-year median of 14.75. Over the past 10 years, this metric has ranged from a low of 6.40 to a high of 113.33. Based on the distribution chart, Harbin Air Conditioning Co ranks #901 out of 1063 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Harbin Air Conditioning Co has a GF Score™ of 57/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Harbin Air Conditioning Co's Net Current Asset Value compare to TT and JCI?
According to the Construction industry distribution chart, Harbin Air Conditioning Co ranks #901 out of 1063 companies for Net Current Asset Value. This places Harbin Air Conditioning Co in the lower half of its industry. The industry median Net Current Asset Value is 3.20. Historically, Harbin Air Conditioning Co's own Net Current Asset Value has ranged from 6.40 to 113.33 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 Construction company?
The median Net Current Asset Value among Construction companies is 3.20, based on 1,063 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 Harbin Air Conditioning Co and its competitors. For the Construction industry, the median Net Current Asset Value is 3.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harbin Air Conditioning Co's current Net Current Asset Value is ¥0.32, which is 98% below median its own 10-year median of 14.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harbin Air Conditioning Co stock overvalued right now?
Based on GuruFocus' analysis, Harbin Air Conditioning Co (SHSE:600202) is currently considered Possible Value Trap. The stock's GF Value™ is ¥6.30, compared to a current price of ¥4.39 — trading 30.3% below its estimated fair value. The current Net Current Asset Value is ¥0.32, which is 98% below median its 10-year median of 14.75. Harbin Air Conditioning Co's overall GF Score™ is 57/100 with 6 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 Harbin Air Conditioning Co (SHSE:600202), the current Net Current Asset Value is ¥0.32 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 Harbin Air Conditioning Co (SHSE:600202) Overvalued in 2026?
Based on GuruFocus' analysis, Harbin Air Conditioning Co stock appears to be undervalued.
The current stock price of ¥4.39 is trading 30.3% below its estimated GF Value™ of ¥6.30.
GuruFocus considers Harbin Air Conditioning Co to be Possible Value Trap.
Key valuation signals for SHSE:600202:
Net Current Asset Value: ¥0.32 (98% below median its 10-year median of 14.75)
GF Value™: ¥6.30 vs. price of ¥4.39 (30.3% below fair value)
No single metric tells the full story. See the SHSE:600202 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harbin Air Conditioning Co Ltd in China is engaged in the designing and manufacturing of energy saving and environmentally-friendly products such as petrochemical air cooling condensers, power plant air coolers, and air conditioning HVAC equipment. Its products are widely used in petrochemical, power energy, steel and metallurgical industries.
57GF Score
Get the complete analysis for SHSE:600202
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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