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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).
The historical rank and industry rank for Shandong Buchang Pharmaceuticals Co's Net Current Asset Value or its related term are showing as below:
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Shandong Buchang Pharmaceuticals Co was 111.42. The lowest was 22.05. And the median was 30.38.
SHSE:603858's Price-to-Net-Current-Asset-Value is not ranked *
in the Drug Manufacturers industry.
Industry Median: 5.71 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Shandong Buchang Pharmaceuticals Co (SHSE:603858) 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.
Shandong Buchang Pharmaceuticals Co Net Current Asset Value Related Terms
Shandong Buchang Pharmaceuticals 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.
Shandong Buchang Pharmaceuticals Co Net Current Asset Value Chart
SHSE:603858 vs ZTS: Net Current Asset Value Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Shandong Buchang Pharmaceuticals 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.
Shandong Buchang Pharmaceuticals Co Price-to-Net-Current-Asset-Value vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Shandong Buchang Pharmaceuticals Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Shandong Buchang Pharmaceuticals 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 ¥-0.87 mean?
Shandong Buchang Pharmaceuticals Co (SHSE:603858) has a Net Current Asset Value of ¥-0.87 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 Shandong Buchang Pharmaceuticals Co and its competitors. Over the past decade, Shandong Buchang Pharmaceuticals Co's Net Current Asset Value has ranged from 22.05 to 111.42. According to the industry distribution chart, Shandong Buchang Pharmaceuticals Co ranks #999999 out of 606 companies in the Drug Manufacturers industry.
Is Shandong Buchang Pharmaceuticals Co's Net Current Asset Value too high?
Shandong Buchang Pharmaceuticals Co's current Net Current Asset Value is ¥-0.87. Over the past 10 years, this metric has ranged from a low of 22.05 to a high of 111.42. Based on the distribution chart, Shandong Buchang Pharmaceuticals Co ranks #999999 out of 606 companies in the Drug Manufacturers industry, which is in the bottom quartile relative to peers. Overall, Shandong Buchang Pharmaceuticals Co has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Shandong Buchang Pharmaceuticals Co's Net Current Asset Value compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Shandong Buchang Pharmaceuticals Co ranks #999999 out of 606 companies for Net Current Asset Value. This places Shandong Buchang Pharmaceuticals Co in the lower half of its industry. The industry median Net Current Asset Value is 5.71. Historically, Shandong Buchang Pharmaceuticals Co's own Net Current Asset Value has ranged from 22.05 to 111.42 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 606 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 Shandong Buchang Pharmaceuticals 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. Shandong Buchang Pharmaceuticals Co's current Net Current Asset Value is ¥-0.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shandong Buchang Pharmaceuticals Co stock overvalued right now?
Based on GuruFocus' analysis, Shandong Buchang Pharmaceuticals Co (SHSE:603858) is currently considered Fairly Valued. The stock's GF Value™ is ¥15.94, compared to a current price of ¥15.66 — trading 1.8% below its estimated fair value. The current Net Current Asset Value is ¥-0.87. Shandong Buchang Pharmaceuticals Co's overall GF Score™ is 70/100 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 Shandong Buchang Pharmaceuticals Co (SHSE:603858), the current Net Current Asset Value is ¥-0.87 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 Shandong Buchang Pharmaceuticals Co (SHSE:603858) Overvalued in 2026?
Based on GuruFocus' analysis, Shandong Buchang Pharmaceuticals Co stock appears to be undervalued.
The current stock price of ¥15.66 is trading 1.8% below its estimated GF Value™ of ¥15.94.
GuruFocus considers Shandong Buchang Pharmaceuticals Co to be Fairly Valued.
Key valuation signals for SHSE:603858:
Net Current Asset Value: ¥-0.87
GF Value™: ¥15.94 vs. price of ¥15.66 (1.8% below fair value)
No single metric tells the full story. See the SHSE:603858 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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