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.
KH Neochem CoTSE:4189 -3.06%82 Net Current Asset Value is 円195.01 as of Dec. 2025, which is 100% below its 10-year median of 15.31. GuruFocus rates TSE:4189 with a GF Score™ of 82/100 and a GF Value™ of 円2,477.44 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 944 Chemicals companies, KH Neochem Co ranks worse than 80.08% 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).
KH Neochem Co's net current asset value per share for the quarter that ended in Dec. 2025 was 円195.01.
The historical rank and industry rank for KH Neochem Co's Net Current Asset Value or its related term are showing as below:
TSE:4189'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 10.78 Med: 15.31 Max: 42.69
Current: 15.02
During the past 11 years, the highest Price-to-Net-Current-Asset-Value Ratio of KH Neochem Co was 42.69. The lowest was 10.78. And the median was 15.31.
TSE:4189's Price-to-Net-Current-Asset-Value is ranked worse than 80.08% of 944
companies
in the Chemicals industry
Industry Median: 4.965
vs TSE:4189: 15.02
KH Neochem Co (TSE:4189) 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.
KH Neochem Co Net Current Asset Value Related Terms
KH Neochem Co Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for KH Neochem 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.
TSE:4189 vs DOW: Net Current Asset Value Comparison
For the Chemicals subindustry, KH Neochem 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.
KH Neochem Co Price-to-Net-Current-Asset-Value vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, KH Neochem Co's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where KH Neochem 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 円195.01 mean?
KH Neochem Co (TSE:4189) has a Net Current Asset Value of 円195.01 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 KH Neochem Co and its competitors. This is 1174% above median its historical median of 15.31. Over the past decade, KH Neochem Co's Net Current Asset Value has ranged from 10.78 to 42.69. According to the industry distribution chart, KH Neochem Co ranks #756 out of 944 companies in the Chemicals industry, placing it in the top 80.1%.
Is KH Neochem Co's Net Current Asset Value too high?
KH Neochem Co's current Net Current Asset Value of 円195.01 is 1174% above median its 10-year median of 15.31. Over the past 10 years, this metric has ranged from a low of 10.78 to a high of 42.69. Based on the distribution chart, KH Neochem Co ranks #756 out of 944 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, KH Neochem Co has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does KH Neochem Co's Net Current Asset Value compare to DOW?
According to the Chemicals industry distribution chart, KH Neochem Co ranks #756 out of 944 companies for Net Current Asset Value. This places KH Neochem Co in the lower half of its industry. The industry median Net Current Asset Value is 4.97. Historically, KH Neochem Co's own Net Current Asset Value has ranged from 10.78 to 42.69 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 Chemicals company?
The median Net Current Asset Value among Chemicals companies is 4.97, based on 944 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 KH Neochem Co and its competitors. For the Chemicals industry, the median Net Current Asset Value is 4.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KH Neochem Co's current Net Current Asset Value is 円195.01, which is 1174% above median its own 10-year median of 15.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KH Neochem Co stock overvalued right now?
Based on GuruFocus' analysis, KH Neochem Co (TSE:4189) is currently considered Modestly Overvalued. The stock's GF Value™ is 円2,477.44, compared to a current price of 円3,010.00 — trading 21.5% above its estimated fair value. The current Net Current Asset Value is 円195.01, which is 1174% above median its 10-year median of 15.31. KH Neochem Co's overall GF Score™ is 82/100 with 7 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 KH Neochem Co (TSE:4189), the current Net Current Asset Value is 円195.01 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 KH Neochem Co (TSE:4189) Overvalued in 2026?
Based on GuruFocus' analysis, KH Neochem Co stock appears to be overvalued.
The current stock price of 円3,010.00 is trading 21.5% above its estimated GF Value™ of 円2,477.44.
GuruFocus considers KH Neochem Co to be Modestly Overvalued.
Key valuation signals for TSE:4189:
Net Current Asset Value: 円195.01 (1174% above median its 10-year median of 15.31)
GF Value™: 円2,477.44 vs. price of 円3,010.00 (21.5% above fair value)
No single metric tells the full story. See the TSE:4189 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KH Neochem Co Ltd is engaged in the production and sale of various chemical products. It offers products including solvents, plasticizer alcohols and raw materials for refrigeration lubricants.
82GF Score
Get the complete analysis for TSE:4189
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
TSE:4189 has been successfully added to your 
