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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).
TPE:9110's Price-to-Net-Current-Asset-Value is ranked better than 94.2% of 707
companies
in the Vehicles & Parts industry
Industry Median: 4.72
vs TPE:9110: 0.73
Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110) 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.
Vietnam Manufacturing and Export Processing (Holdings) Net Current Asset Value Related Terms
Vietnam Manufacturing and Export Processing (Holdings) 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.
Vietnam Manufacturing and Export Processing (Holdings) Net Current Asset Value Chart
Vietnam Manufacturing and Export Processing (Holdings) Annual Data
TPE:9110 vs BC, PII, THO: Net Current Asset Value Comparison
For the Recreational Vehicles subindustry, Vietnam Manufacturing and Export Processing (Holdings)'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.
Vietnam Manufacturing and Export Processing (Holdings) Price-to-Net-Current-Asset-Value vs Vehicles & Parts Industry
* 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$1.55 mean?
Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110) has a Net Current Asset Value of NT$1.55 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 Vietnam Manufacturing and Export Processing (Holdings) and its competitors. This is 112% above median its historical median of 0.73. Over the past decade, Vietnam Manufacturing and Export Processing (Holdings)'s Net Current Asset Value has ranged from 0.42 to 2.14. According to the industry distribution chart, Vietnam Manufacturing and Export Processing (Holdings) ranks #41 out of 707 companies in the Vehicles & Parts industry, placing it in the top 5.8%.
Is Vietnam Manufacturing and Export Processing (Holdings)'s Net Current Asset Value too high?
Vietnam Manufacturing and Export Processing (Holdings)'s current Net Current Asset Value of NT$1.55 is 112% above median its 10-year median of 0.73. Over the past 10 years, this metric has ranged from a low of 0.42 to a high of 2.14. Based on the distribution chart, Vietnam Manufacturing and Export Processing (Holdings) ranks #41 out of 707 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Vietnam Manufacturing and Export Processing (Holdings) has a GF Score™ of 58/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vietnam Manufacturing and Export Processing (Holdings)'s Net Current Asset Value compare to BC and PII?
According to the Vehicles & Parts industry distribution chart, Vietnam Manufacturing and Export Processing (Holdings) ranks #41 out of 707 companies for Net Current Asset Value. This places Vietnam Manufacturing and Export Processing (Holdings) in the top 6% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 4.72. Historically, Vietnam Manufacturing and Export Processing (Holdings)'s own Net Current Asset Value has ranged from 0.42 to 2.14 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 Vehicles & Parts company?
The median Net Current Asset Value among Vehicles & Parts companies is 4.72, based on 707 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 Vietnam Manufacturing and Export Processing (Holdings) and its competitors. For the Vehicles & Parts industry, the median Net Current Asset Value is 4.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vietnam Manufacturing and Export Processing (Holdings)'s current Net Current Asset Value is NT$1.55, which is 112% above median its own 10-year median of 0.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vietnam Manufacturing and Export Processing (Holdings) stock overvalued right now?
Based on GuruFocus' analysis, Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$5.23, compared to a current price of NT$3.18 — trading 39.2% below its estimated fair value. The current Net Current Asset Value is NT$1.55, which is 112% above median its 10-year median of 0.73. Vietnam Manufacturing and Export Processing (Holdings)'s overall GF Score™ is 58/100 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 Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110), the current Net Current Asset Value is NT$1.55 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 Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110) Overvalued in 2026?
Based on GuruFocus' analysis, Vietnam Manufacturing and Export Processing (Holdings) stock appears to be undervalued.
The current stock price of NT$3.18 is trading 39.2% below its estimated GF Value™ of NT$5.23.
GuruFocus considers Vietnam Manufacturing and Export Processing (Holdings) to be Significantly Undervalued.
Key valuation signals for TPE:9110:
Net Current Asset Value: NT$1.55 (112% above median its 10-year median of 0.73)
GF Value™: NT$5.23 vs. price of NT$3.18 (39.2% below fair value)
No single metric tells the full story. See the TPE:9110 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vietnam Manufacturing and Export Processing (Holdings) Business Description
Vietnam Manufacturing and Export Processing (Holdings) Ltd is engaged in manufacturing and sales of motorbikes, and related spare parts and engines. Its segments include Manufacturing and sale of motorbikes segment that includes motorbikes manufactured for the Vietnamese market and exports it to other countries including Malaysia, the Philippines, Thailand, Italy, Greece, United Arab Emirates and Singapore; and Manufacturing; and Sale of spare parts and engines segment manufactures engines for use in the group's motorbikes, while the group also exports engines to third parties. It manufactures parts for use in repair servicing and product assembly. Geographically, it operates in Vietnam, Malaysia, Philippines, United Arab Emirates, Greece, Thailand, Italy, Singapore, and Other Countries.
58GF Score
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