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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 Pan Pacific International Holdings's Net Current Asset Value or its related term are showing as below:
TSE:7532's Price-to-Net-Current-Asset-Value is not ranked *
in the Retail - Defensive industry.
Industry Median: 3.26 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Pan Pacific International Holdings (TSE:7532) 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.
Pan Pacific International Holdings Net Current Asset Value Related Terms
Pan Pacific International 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.
Pan Pacific International Holdings Net Current Asset Value Chart
TSE:7532 vs WMT, COST, TGT: Net Current Asset Value Comparison
For the Discount Stores subindustry, Pan Pacific International 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.
Pan Pacific International Holdings Price-to-Net-Current-Asset-Value vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Pan Pacific International Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Pan Pacific International Holdings'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-103.04 mean?
Pan Pacific International Holdings (TSE:7532) has a Net Current Asset Value of 円-103.04 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 Pan Pacific International Holdings and its competitors. According to the industry distribution chart, Pan Pacific International Holdings ranks #999999 out of 135 companies in the Retail - Defensive industry.
Is Pan Pacific International Holdings' Net Current Asset Value too high?
Pan Pacific International Holdings' current Net Current Asset Value is 円-103.04. Based on the distribution chart, Pan Pacific International Holdings ranks #999999 out of 135 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Pan Pacific International Holdings has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Pan Pacific International Holdings' Net Current Asset Value compare to WMT and COST?
According to the Retail - Defensive industry distribution chart, Pan Pacific International Holdings ranks #999999 out of 135 companies for Net Current Asset Value. This places Pan Pacific International Holdings in the lower half of its industry. The industry median Net Current Asset Value is 3.26. 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 Retail - Defensive company?
The median Net Current Asset Value among Retail - Defensive companies is 3.26, based on 135 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 Pan Pacific International Holdings and its competitors. For the Retail - Defensive industry, the median Net Current Asset Value is 3.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pan Pacific International Holdings's current Net Current Asset Value is 円-103.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pan Pacific International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Pan Pacific International Holdings (TSE:7532) is currently considered Fairly Valued. The stock's GF Value™ is 円929.73, compared to a current price of 円856.20 — trading 7.9% below its estimated fair value. The current Net Current Asset Value is 円-103.04. Pan Pacific International Holdings' overall GF Score™ is 85/100. 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 Pan Pacific International Holdings (TSE:7532), the current Net Current Asset Value is 円-103.04 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 Pan Pacific International Holdings (TSE:7532) Overvalued in 2026?
Based on GuruFocus' analysis, Pan Pacific International Holdings stock appears to be undervalued.
The current stock price of 円856.20 is trading 7.9% below its estimated GF Value™ of 円929.73.
GuruFocus considers Pan Pacific International Holdings to be Fairly Valued.
Key valuation signals for TSE:7532:
Net Current Asset Value: 円-103.04
GF Value™: 円929.73 vs. price of 円856.20 (7.9% below fair value)
No single metric tells the full story. See the TSE:7532 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pan Pacific International Holdings Business Description
Pan Pacific International Holdings is a leading operator of discount stores and general merchandise stores primarily in Japan, operating 661 stores as of early 2026 nationally. It offers a wide range of products from packaged food, cosmetics, and household products to consumer electronics. The primary store formats include the Don Quijote discount stores, Mega Donki format, and general merchandise stores operated under the UNY brand. Overseas operations concentrate on North America and Southeast Asia. The group has acquired small supermarket chains in Hawaii and California in the US and also operates stores across Singapore and Hong Kong.
85GF Score
Get the complete analysis for TSE:7532
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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