Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Merida Industry CoTPE:9914 +9.92%67 Net Current Asset Value is NT$0.66 as of Dec. 2025, which is 100% below its 10-year median of 372.97. GuruFocus rates TPE:9914 with a GF Score™ of 67/100 and a GF Value™ of NT$136.20 (Significantly Undervalued). The stock has 6 warning signs investors should review. Among 309 Travel & Leisure companies, Merida Industry Co ranks worse than 98.38% on this metric.
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).
Merida Industry Co's net current asset value per share for the quarter that ended in Dec. 2025 was NT$0.66.
The historical rank and industry rank for Merida Industry Co's Net Current Asset Value or its related term are showing as below:
TPE:9914'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 110.3 Med: 372.97 Max: 2400
Current: 127.58
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Merida Industry Co was 2400.00. The lowest was 110.30. And the median was 372.97.
TPE:9914's Price-to-Net-Current-Asset-Value is ranked worse than 98.38% of 309
companies
in the Travel & Leisure industry
Industry Median: 4.2
vs TPE:9914: 127.58
Merida Industry Co (TPE:9914) 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.
Merida Industry Co Net Current Asset Value Related Terms
Merida Industry Co Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Merida Industry Co's Net Current Asset Value can be seen below:
* 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.
TPE:9914 vs AS, HAS, LTH: Net Current Asset Value Comparison
For the Leisure subindustry, Merida 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.
Merida Industry Co Price-to-Net-Current-Asset-Value vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Merida Industry Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Merida 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 NT$0.66 mean?
Merida Industry Co (TPE:9914) has a Net Current Asset Value of NT$0.66 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 Merida Industry Co and its competitors. This is 100% below median its historical median of 372.97. Over the past decade, Merida Industry Co's Net Current Asset Value has ranged from 110.30 to 2,400.00. According to the industry distribution chart, Merida Industry Co ranks #304 out of 309 companies in the Travel & Leisure industry, placing it in the top 98.4%.
Is Merida Industry Co's Net Current Asset Value too high?
Merida Industry Co's current Net Current Asset Value of NT$0.66 is 100% below median its 10-year median of 372.97. Over the past 10 years, this metric has ranged from a low of 110.30 to a high of 2,400.00. Based on the distribution chart, Merida Industry Co ranks #304 out of 309 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Merida Industry Co has a GF Score™ of 67/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Merida Industry Co's Net Current Asset Value compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Merida Industry Co ranks #304 out of 309 companies for Net Current Asset Value. This places Merida Industry Co in the lower half of its industry. The industry median Net Current Asset Value is 4.20. Historically, Merida Industry Co's own Net Current Asset Value has ranged from 110.30 to 2,400.00 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 Travel & Leisure company?
The median Net Current Asset Value among Travel & Leisure companies is 4.20, based on 309 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 Merida Industry Co and its competitors. For the Travel & Leisure industry, the median Net Current Asset Value is 4.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merida Industry Co's current Net Current Asset Value is NT$0.66, which is 100% below median its own 10-year median of 372.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merida Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Merida Industry Co (TPE:9914) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$136.20, compared to a current price of NT$84.20 — trading 38.2% below its estimated fair value. The current Net Current Asset Value is NT$0.66, which is 100% below median its 10-year median of 372.97. Merida Industry Co's overall GF Score™ is 67/100 with 6 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 Merida Industry Co (TPE:9914), the current Net Current Asset Value is NT$0.66 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 Merida Industry Co (TPE:9914) Overvalued in 2026?
Based on GuruFocus' analysis, Merida Industry Co stock appears to be undervalued.
The current stock price of NT$84.20 is trading 38.2% below its estimated GF Value™ of NT$136.20.
GuruFocus considers Merida Industry Co to be Significantly Undervalued.
Key valuation signals for TPE:9914:
Net Current Asset Value: NT$0.66 (100% below median its 10-year median of 372.97)
GF Value™: NT$136.20 vs. price of NT$84.20 (38.2% below fair value)
No single metric tells the full story. See the TPE:9914 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Merida Industry Co Ltd is a manufacturer and distributor of bicycles and bicycle-related components, domiciled in Taiwan. The company produces bicycles for both recreational and professional use. Products include mountain bicycles, road and racing bicycles, bicycle motocross, or BMX, folding bicycles, children and youth bicycles, electric bicycles, helmets, components, and related parts and accessories. It distributes bicycles and components both domestically and internationally, and products are largely sold under the Merida brand name.
67GF Score
Get the complete analysis for TPE:9914
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
TPE:9914 has been successfully added to your 
