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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 Thinking Electronic Industrial Co's Net Current Asset Value or its related term are showing as below:
TPE:2428'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 2.87 Med: 4.04 Max: 7.99
Current: 7.1
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Thinking Electronic Industrial Co was 7.99. The lowest was 2.87. And the median was 4.04.
TPE:2428's Price-to-Net-Current-Asset-Value is ranked worse than 60.02% of 1846
companies
in the Hardware industry
Industry Median: 5.24
vs TPE:2428: 7.10
Thinking Electronic Industrial Co (TPE:2428) 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.
Thinking Electronic Industrial Co Net Current Asset Value Related Terms
Thinking Electronic Industrial 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.
Thinking Electronic Industrial Co Net Current Asset Value Chart
TPE:2428 vs APH, GLW: Net Current Asset Value Comparison
For the Electronic Components subindustry, Thinking Electronic Industrial 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.
Thinking Electronic Industrial Co Price-to-Net-Current-Asset-Value vs Hardware Industry
For the Hardware industry and Technology sector, Thinking Electronic Industrial Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Thinking Electronic Industrial 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 NT$40.68 mean?
Thinking Electronic Industrial Co (TPE:2428) has a Net Current Asset Value of NT$40.68 as of Dec. 2025. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Thinking Electronic Industrial Co and its competitors. This is 907% above median its historical median of 4.04. Over the past decade, Thinking Electronic Industrial Co's Net Current Asset Value has ranged from 2.87 to 7.99. According to the industry distribution chart, Thinking Electronic Industrial Co ranks #1108 out of 1846 companies in the Hardware industry, placing it in the top 60%.
Is Thinking Electronic Industrial Co's Net Current Asset Value too high?
Thinking Electronic Industrial Co's current Net Current Asset Value of NT$40.68 is 907% above median its 10-year median of 4.04. Over the past 10 years, this metric has ranged from a low of 2.87 to a high of 7.99. Based on the distribution chart, Thinking Electronic Industrial Co ranks #1108 out of 1846 companies in the Hardware industry, which is below the industry midpoint. Overall, Thinking Electronic Industrial Co has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Thinking Electronic Industrial Co's Net Current Asset Value compare to APH and GLW?
According to the Hardware industry distribution chart, Thinking Electronic Industrial Co ranks #1108 out of 1846 companies for Net Current Asset Value. This places Thinking Electronic Industrial Co in the lower half of its industry. The industry median Net Current Asset Value is 5.24. Historically, Thinking Electronic Industrial Co's own Net Current Asset Value has ranged from 2.87 to 7.99 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 Hardware company?
The median Net Current Asset Value among Hardware companies is 5.24, based on 1,846 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 Thinking Electronic Industrial Co and its competitors. For the Hardware industry, the median Net Current Asset Value is 5.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thinking Electronic Industrial Co's current Net Current Asset Value is NT$40.68, which is 907% above median its own 10-year median of 4.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thinking Electronic Industrial Co stock overvalued right now?
Based on GuruFocus' analysis, Thinking Electronic Industrial Co (TPE:2428) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$175.65, compared to a current price of NT$289.00 — trading 64.5% above its estimated fair value. The current Net Current Asset Value is NT$40.68, which is 907% above median its 10-year median of 4.04. Thinking Electronic Industrial Co's overall GF Score™ is 75/100 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 Thinking Electronic Industrial Co (TPE:2428), the current Net Current Asset Value is NT$40.68 as of Dec. 2025. 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 Thinking Electronic Industrial Co (TPE:2428) Overvalued in 2026?
Based on GuruFocus' analysis, Thinking Electronic Industrial Co stock appears to be overvalued.
The current stock price of NT$289.00 is trading 64.5% above its estimated GF Value™ of NT$175.65.
GuruFocus considers Thinking Electronic Industrial Co to be Significantly Overvalued.
Key valuation signals for TPE:2428:
Net Current Asset Value: NT$40.68 (907% above median its 10-year median of 4.04)
GF Value™: NT$175.65 vs. price of NT$289.00 (64.5% above fair value)
No single metric tells the full story. See the TPE:2428 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thinking Electronic Industrial Co Business Description
Thinking Electronic Industrial Co Ltd manufactures, processes, and sells electric devices, thermistors, varistors, and wires. Its product portfolio comprises negative temperature coefficient thermistors, zinc oxide varistors, ceramic positive temperature thermistors, polymer positive temperature coefficient thermistors (Polymer PTC resettable fuse), temperature sensors, and gas discharge tubes, among others. The Group's reportable segments are: Thinking Electronic Industrial (the company), which generates the maximum revenue, Thinking Changzhou, Dongguan Welkin and Zhongshan Welkin Guangdong, Thinking Yichang, Jiangxi Thinking, and Others. Geographically, it generates maximum revenue from Greater China (including Taiwan), and the rest from Europe and other regions.
75GF Score
Get the complete analysis for TPE:2428
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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