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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:603976's Price-to-Net-Current-Asset-Value is ranked worse than 77.38% of 221
companies
in the Packaging & Containers industry
Industry Median: 3.58
vs SHSE:603976: 11.19
Chongqing Zhengchuan Pharmaceutical Packaging Co (SHSE:603976) 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.
Chongqing Zhengchuan Pharmaceutical Packaging Co Net Current Asset Value Related Terms
Chongqing Zhengchuan Pharmaceutical Packaging 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.
Chongqing Zhengchuan Pharmaceutical Packaging Co Net Current Asset Value Chart
Chongqing Zhengchuan Pharmaceutical Packaging Co Annual Data
SHSE:603976 vs SW, PKG, IP: Net Current Asset Value Comparison
For the Packaging & Containers subindustry, Chongqing Zhengchuan Pharmaceutical Packaging 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.
Chongqing Zhengchuan Pharmaceutical Packaging Co Price-to-Net-Current-Asset-Value vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Chongqing Zhengchuan Pharmaceutical Packaging Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Chongqing Zhengchuan Pharmaceutical Packaging 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 ¥2.55 mean?
Chongqing Zhengchuan Pharmaceutical Packaging Co (SHSE:603976) has a Net Current Asset Value of ¥2.55 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 Chongqing Zhengchuan Pharmaceutical Packaging Co and its competitors. This is 79% below median its historical median of 12.14. Over the past decade, Chongqing Zhengchuan Pharmaceutical Packaging Co's Net Current Asset Value has ranged from 3.57 to 29.12. According to the industry distribution chart, Chongqing Zhengchuan Pharmaceutical Packaging Co ranks #171 out of 221 companies in the Packaging & Containers industry, placing it in the top 77.4%.
Is Chongqing Zhengchuan Pharmaceutical Packaging Co's Net Current Asset Value too high?
Chongqing Zhengchuan Pharmaceutical Packaging Co's current Net Current Asset Value of ¥2.55 is 79% below median its 10-year median of 12.14. Over the past 10 years, this metric has ranged from a low of 3.57 to a high of 29.12. Based on the distribution chart, Chongqing Zhengchuan Pharmaceutical Packaging Co ranks #171 out of 221 companies in the Packaging & Containers industry, which is in the bottom quartile relative to peers. Overall, Chongqing Zhengchuan Pharmaceutical Packaging Co has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Chongqing Zhengchuan Pharmaceutical Packaging Co's Net Current Asset Value compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Chongqing Zhengchuan Pharmaceutical Packaging Co ranks #171 out of 221 companies for Net Current Asset Value. This places Chongqing Zhengchuan Pharmaceutical Packaging Co in the lower half of its industry. The industry median Net Current Asset Value is 3.58. Historically, Chongqing Zhengchuan Pharmaceutical Packaging Co's own Net Current Asset Value has ranged from 3.57 to 29.12 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 Packaging & Containers company?
The median Net Current Asset Value among Packaging & Containers companies is 3.58, based on 221 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 Chongqing Zhengchuan Pharmaceutical Packaging Co and its competitors. For the Packaging & Containers industry, the median Net Current Asset Value is 3.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chongqing Zhengchuan Pharmaceutical Packaging Co's current Net Current Asset Value is ¥2.55, which is 79% below median its own 10-year median of 12.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chongqing Zhengchuan Pharmaceutical Packaging Co stock overvalued right now?
Based on GuruFocus' analysis, Chongqing Zhengchuan Pharmaceutical Packaging Co (SHSE:603976) is currently considered Significantly Overvalued. The stock's GF Value™ is ¥20.85, compared to a current price of ¥28.53 — trading 36.8% above its estimated fair value. The current Net Current Asset Value is ¥2.55, which is 79% below median its 10-year median of 12.14. Chongqing Zhengchuan Pharmaceutical Packaging Co's overall GF Score™ is 74/100 with 11 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 Chongqing Zhengchuan Pharmaceutical Packaging Co (SHSE:603976), the current Net Current Asset Value is ¥2.55 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 Chongqing Zhengchuan Pharmaceutical Packaging Co (SHSE:603976) Overvalued in 2026?
Based on GuruFocus' analysis, Chongqing Zhengchuan Pharmaceutical Packaging Co stock appears to be overvalued.
The current stock price of ¥28.53 is trading 36.8% above its estimated GF Value™ of ¥20.85.
GuruFocus considers Chongqing Zhengchuan Pharmaceutical Packaging Co to be Significantly Overvalued.
Key valuation signals for SHSE:603976:
Net Current Asset Value: ¥2.55 (79% below median its 10-year median of 12.14)
GF Value™: ¥20.85 vs. price of ¥28.53 (36.8% above fair value)
No single metric tells the full story. See the SHSE:603976 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Chongqing Zhengchuan Pharmaceutical Packaging Co Ltd is a China-based company engages in the research, development, production, and sale of medicinal packaging materials such as medicinal glass tubes. It manufactures colorless and brown glass tubular injection bottles, oral liquid bottles, regulation glass tube screw mouth bottle, and ampoules.
74GF Score
Get the complete analysis for SHSE:603976
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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