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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 Forest Water Environmental Eng'g Co's Net Current Asset Value or its related term are showing as below:
TPE:8473's Price-to-Net-Current-Asset-Value is not ranked *
in the Waste Management industry.
Industry Median: 4.525 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Forest Water Environmental Eng'g Co (TPE:8473) 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.
Forest Water Environmental Eng'g Co Net Current Asset Value Related Terms
Forest Water Environmental Eng'g 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.
Forest Water Environmental Eng'g Co Net Current Asset Value Chart
TPE:8473 vs WM, RSG, WCN: Net Current Asset Value Comparison
For the Waste Management subindustry, Forest Water Environmental Eng'g 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.
Forest Water Environmental Eng'g Co Price-to-Net-Current-Asset-Value vs Waste Management Industry
For the Waste Management industry and Industrials sector, Forest Water Environmental Eng'g Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Forest Water Environmental Eng'g 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$-14.53 mean?
Forest Water Environmental Eng'g Co (TPE:8473) has a Net Current Asset Value of NT$-14.53 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 Forest Water Environmental Eng'g Co and its competitors. According to the industry distribution chart, Forest Water Environmental Eng'g Co ranks #999999 out of 96 companies in the Waste Management industry.
Is Forest Water Environmental Eng'g Co's Net Current Asset Value too high?
Forest Water Environmental Eng'g Co's current Net Current Asset Value is NT$-14.53. Based on the distribution chart, Forest Water Environmental Eng'g Co ranks #999999 out of 96 companies in the Waste Management industry, which is in the bottom quartile relative to peers. Overall, Forest Water Environmental Eng'g Co has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Forest Water Environmental Eng'g Co's Net Current Asset Value compare to WM and RSG?
According to the Waste Management industry distribution chart, Forest Water Environmental Eng'g Co ranks #999999 out of 96 companies for Net Current Asset Value. This places Forest Water Environmental Eng'g Co in the lower half of its industry. The industry median Net Current Asset Value is 4.53. 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 Waste Management company?
The median Net Current Asset Value among Waste Management companies is 4.53, based on 96 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 Forest Water Environmental Eng'g Co and its competitors. For the Waste Management industry, the median Net Current Asset Value is 4.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forest Water Environmental Eng'g Co's current Net Current Asset Value is NT$-14.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forest Water Environmental Eng'g Co stock overvalued right now?
Based on GuruFocus' analysis, Forest Water Environmental Eng'g Co (TPE:8473) is currently considered Fairly Valued. The stock's GF Value™ is NT$41.95, compared to a current price of NT$44.00 — trading 4.9% above its estimated fair value. The current Net Current Asset Value is NT$-14.53. Forest Water Environmental Eng'g Co's overall GF Score™ is 80/100 with 3 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 Forest Water Environmental Eng'g Co (TPE:8473), the current Net Current Asset Value is NT$-14.53 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 Forest Water Environmental Eng'g Co (TPE:8473) Overvalued in 2026?
Based on GuruFocus' analysis, Forest Water Environmental Eng'g Co stock appears to be overvalued.
The current stock price of NT$44.00 is trading 4.9% above its estimated GF Value™ of NT$41.95.
GuruFocus considers Forest Water Environmental Eng'g Co to be Fairly Valued.
Key valuation signals for TPE:8473:
Net Current Asset Value: NT$-14.53
GF Value™: NT$41.95 vs. price of NT$44.00 (4.9% above fair value)
No single metric tells the full story. See the TPE:8473 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forest Water Environmental Eng'g Co Business Description
Forest Water Environmental Eng'g Co Ltd is engaged includes engineering projects for environmental protection, sewage treatment, waste treatment and recycling, and the recycling and decomposition of compostable food waste. It also provides the construction of a water purification plant, the construction of a sewage treatment plant in the scientific industrial park, and the construction of a sewage treatment plant.
80GF Score
Get the complete analysis for TPE:8473
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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