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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:603991'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.18 Med: 14.92 Max: 54.07
Current: 18.7
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Shenzhen Leading Semiconductor Industry Co was 54.07. The lowest was 6.18. And the median was 14.92.
SHSE:603991's Price-to-Net-Current-Asset-Value is ranked worse than 74.21% of 729
companies
in the Semiconductors industry
Industry Median: 7.59
vs SHSE:603991: 18.70
Shenzhen Leading Semiconductor Industry Co (SHSE:603991) 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.
Shenzhen Leading Semiconductor Industry Co Net Current Asset Value Related Terms
Shenzhen Leading Semiconductor Industry 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.
Shenzhen Leading Semiconductor Industry Co Net Current Asset Value Chart
Shenzhen Leading Semiconductor Industry Co Annual Data
SHSE:603991 vs LRCX, AMAT, KLAC: Net Current Asset Value Comparison
For the Semiconductor Equipment & Materials subindustry, Shenzhen Leading Semiconductor Industry 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.
Shenzhen Leading Semiconductor Industry Co Price-to-Net-Current-Asset-Value vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Shenzhen Leading Semiconductor Industry Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Shenzhen Leading Semiconductor Industry 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 ¥7.52 mean?
Shenzhen Leading Semiconductor Industry Co (SHSE:603991) has a Net Current Asset Value of ¥7.52 as of Jun. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Shenzhen Leading Semiconductor Industry Co and its competitors. According to the industry distribution chart, Shenzhen Leading Semiconductor Industry Co ranks #541 out of 729 companies in the Semiconductors industry, placing it in the top 74.2%.
Is Shenzhen Leading Semiconductor Industry Co's Net Current Asset Value too high?
Shenzhen Leading Semiconductor Industry Co's current Net Current Asset Value is ¥7.52. Based on the distribution chart, Shenzhen Leading Semiconductor Industry Co ranks #541 out of 729 companies in the Semiconductors industry, which is below the industry midpoint. Overall, Shenzhen Leading Semiconductor Industry Co has a GF Score™ of 61/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Shenzhen Leading Semiconductor Industry Co's Net Current Asset Value compare to LRCX and AMAT?
According to the Semiconductors industry distribution chart, Shenzhen Leading Semiconductor Industry Co ranks #541 out of 729 companies for Net Current Asset Value. This places Shenzhen Leading Semiconductor Industry Co in the lower half of its industry. The industry median Net Current Asset Value is 7.59. 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 Semiconductors company?
The median Net Current Asset Value among Semiconductors companies is 7.59, based on 729 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 Shenzhen Leading Semiconductor Industry Co and its competitors. For the Semiconductors industry, the median Net Current Asset Value is 7.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shenzhen Leading Semiconductor Industry Co's current Net Current Asset Value is ¥7.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shenzhen Leading Semiconductor Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Shenzhen Leading Semiconductor Industry Co (SHSE:603991) is currently considered Possible Value Trap. The stock's GF Value™ is ¥241.48, compared to a current price of ¥140.61 — trading 41.8% below its estimated fair value. The current Net Current Asset Value is ¥7.52. Shenzhen Leading Semiconductor Industry Co's overall GF Score™ is 61/100 with 5 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 Shenzhen Leading Semiconductor Industry Co (SHSE:603991), the current Net Current Asset Value is ¥7.52 as of Jun. 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 Shenzhen Leading Semiconductor Industry Co (SHSE:603991) Overvalued in 2026?
Based on GuruFocus' analysis, Shenzhen Leading Semiconductor Industry Co stock appears to be undervalued.
The current stock price of ¥140.61 is trading 41.8% below its estimated GF Value™ of ¥241.48.
GuruFocus considers Shenzhen Leading Semiconductor Industry Co to be Possible Value Trap.
Key valuation signals for SHSE:603991:
Net Current Asset Value: ¥7.52
GF Value™: ¥241.48 vs. price of ¥140.61 (41.8% below fair value)
No single metric tells the full story. See the SHSE:603991 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Shenzhen Leading Semiconductor Industry Co Ltd is engaged in the sales of self-produced products, the import and export of goods and technologies, and semiconductor device manufacturing. The company operates in the manufacturing of specialized semiconductor device equipment and electronic equipment, the development of basic and application artificial intelligence software, and the research, development, and production of electronic specialty materials. It also provides technical services, technology development, and information system operation and maintenance services.
61GF Score
Get the complete analysis for SHSE:603991
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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