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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).
SHSE:600436'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 9.53 Med: 15.66 Max: 41.43
Current: 9.97
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Zhangzhou Pientzehuang Pharmaceutical Co was 41.43. The lowest was 9.53. And the median was 15.66.
SHSE:600436's Price-to-Net-Current-Asset-Value is ranked worse than 70.94% of 609
companies
in the Drug Manufacturers industry
Industry Median: 5.71
vs SHSE:600436: 9.97
Zhangzhou Pientzehuang Pharmaceutical Co (SHSE:600436) 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.
Zhangzhou Pientzehuang Pharmaceutical Co Net Current Asset Value Related Terms
Zhangzhou Pientzehuang Pharmaceutical 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.
Zhangzhou Pientzehuang Pharmaceutical Co Net Current Asset Value Chart
Zhangzhou Pientzehuang Pharmaceutical Co Annual Data
SHSE:600436 vs LLY, JNJ, ABBV: Net Current Asset Value Comparison
For the Drug Manufacturers - General subindustry, Zhangzhou Pientzehuang Pharmaceutical 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.
Zhangzhou Pientzehuang Pharmaceutical Co Price-to-Net-Current-Asset-Value vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Zhangzhou Pientzehuang Pharmaceutical Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Zhangzhou Pientzehuang Pharmaceutical 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 ¥13.68 mean?
Zhangzhou Pientzehuang Pharmaceutical Co (SHSE:600436) has a Net Current Asset Value of ¥13.68 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 Zhangzhou Pientzehuang Pharmaceutical Co and its competitors. This is 13% below median its historical median of 15.66. Over the past decade, Zhangzhou Pientzehuang Pharmaceutical Co's Net Current Asset Value has ranged from 9.53 to 41.43. According to the industry distribution chart, Zhangzhou Pientzehuang Pharmaceutical Co ranks #432 out of 609 companies in the Drug Manufacturers industry, placing it in the top 70.9%.
Is Zhangzhou Pientzehuang Pharmaceutical Co's Net Current Asset Value too high?
Zhangzhou Pientzehuang Pharmaceutical Co's current Net Current Asset Value of ¥13.68 is 13% below median its 10-year median of 15.66. Over the past 10 years, this metric has ranged from a low of 9.53 to a high of 41.43. Based on the distribution chart, Zhangzhou Pientzehuang Pharmaceutical Co ranks #432 out of 609 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Zhangzhou Pientzehuang Pharmaceutical Co has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Zhangzhou Pientzehuang Pharmaceutical Co's Net Current Asset Value compare to LLY and JNJ?
According to the Drug Manufacturers industry distribution chart, Zhangzhou Pientzehuang Pharmaceutical Co ranks #432 out of 609 companies for Net Current Asset Value. This places Zhangzhou Pientzehuang Pharmaceutical Co in the lower half of its industry. The industry median Net Current Asset Value is 5.71. Historically, Zhangzhou Pientzehuang Pharmaceutical Co's own Net Current Asset Value has ranged from 9.53 to 41.43 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 Drug Manufacturers company?
The median Net Current Asset Value among Drug Manufacturers companies is 5.71, based on 609 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 Zhangzhou Pientzehuang Pharmaceutical Co and its competitors. For the Drug Manufacturers industry, the median Net Current Asset Value is 5.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zhangzhou Pientzehuang Pharmaceutical Co's current Net Current Asset Value is ¥13.68, which is 13% below median its own 10-year median of 15.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zhangzhou Pientzehuang Pharmaceutical Co stock overvalued right now?
Based on GuruFocus' analysis, Zhangzhou Pientzehuang Pharmaceutical Co (SHSE:600436) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥173.10, compared to a current price of ¥136.39 — trading 21.2% below its estimated fair value. The current Net Current Asset Value is ¥13.68, which is 13% below median its 10-year median of 15.66. Zhangzhou Pientzehuang Pharmaceutical Co's overall GF Score™ is 86/100 with 8 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 Zhangzhou Pientzehuang Pharmaceutical Co (SHSE:600436), the current Net Current Asset Value is ¥13.68 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 Zhangzhou Pientzehuang Pharmaceutical Co (SHSE:600436) Overvalued in 2026?
Based on GuruFocus' analysis, Zhangzhou Pientzehuang Pharmaceutical Co stock appears to be undervalued.
The current stock price of ¥136.39 is trading 21.2% below its estimated GF Value™ of ¥173.10.
GuruFocus considers Zhangzhou Pientzehuang Pharmaceutical Co to be Modestly Undervalued.
Key valuation signals for SHSE:600436:
Net Current Asset Value: ¥13.68 (13% below median its 10-year median of 15.66)
GF Value™: ¥173.10 vs. price of ¥136.39 (21.2% below fair value)
No single metric tells the full story. See the SHSE:600436 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zhangzhou Pientzehuang Pharmaceutical Co Business Description
Zhangzhou Pientzehuang Pharmaceutical Co Ltd produces and sells Chinese medicines. The company's product categories include tablets, hard capsules, granules, pills (water pills, honey pills), syrups, tinctures (including external use), ointments, lozenges, decoctions, Chinese herbal medicine slices (including direct oral slices) (clean preparation); production of candy products (candy), health food products; and production of beverages (solid beverages).
86GF Score
Get the complete analysis for SHSE:600436
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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