Thorney Opportunities (ASX:TOP) Goodwill-to-Asset: 0.00 (As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

ASX:TOP Thorney Opportunities Ltd ASX:TOP
36 GF Score
Price A$0.57
GF Value A$0.96
Valuation Significantly Undervalued
! 1 Warning Sign
View Full Analysis

What is Thorney Opportunities Goodwill-to-Asset?

Thorney Opportunities ASX:TOP +1.80% 36 Goodwill-to-Asset is 0.00 as of Dec. 2025. GuruFocus rates ASX:TOP with a GF Score™ of 36/100 and a GF Value™ of A$0.96 (Significantly Undervalued). The stock has 1 warning sign investors should review.

Goodwill to Asset ratio measures how much goodwill a company is recording compared to the total level of its assets. Thorney Opportunities's Goodwill for the quarter that ended in Dec. 2025 was A$0.00 Mil. Thorney Opportunities's Total Assets for the quarter that ended in Dec. 2025 was A$184.04 Mil. Therefore, Thorney Opportunities's Goodwill to Asset Ratio for the quarter that ended in Dec. 2025 was 0.00.


Thorney Opportunities  (ASX:TOP) Goodwill-to-Asset Explanation

If the goodwill-to-asset ratio increases, it can mean that the company is recording a proportionately higher amount of goodwill, assuming total assets are remaining constant. It is generally good to see a company increasing its assets regularly; however, if these increases are coming from intangible assets, such as goodwill, the increases may not be as good.

Increases in the goodwill-to-asset ratio might suggest that a company has been aggressively acquiring other firms or has seen its tangible assets decrease in value. When a large portion of total assets are attributable to intangible assets (such as goodwill), the company may be at risk of having that portion of its asset base wiped out quickly if it must record any goodwill impairments. Decreases in the goodwill-to-assets ratio suggest that the company has either written down some goodwill or increased its tangible assets.

Asset needs vary from industry to industry. This is why comparing goodwill-to-assets ratios is generally most meaningful among companies within the same industry. By comparing a company's goodwill to assets ratio to those of other companies within the same industry, investors can get a feel for how a company is managing its goodwill.


Thorney Opportunities Goodwill-to-Asset Related Terms


Thorney Opportunities Goodwill-to-Asset Historical Data

* Premium members only.

The historical data trend for Thorney Opportunities's Goodwill-to-Asset 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.

Thorney Opportunities Goodwill-to-Asset Chart

Thorney Opportunities Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Goodwill-to-Asset
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Thorney Opportunities Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Goodwill-to-Asset Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

ASX:TOP vs BLK, BX, KKR: Goodwill-to-Asset Comparison

For the Asset Management subindustry, Thorney Opportunities's Goodwill-to-Asset, along with its competitors' market caps and Goodwill-to-Asset 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.


Thorney Opportunities Goodwill-to-Asset vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Thorney Opportunities's Goodwill-to-Asset distribution charts can be found below:

* The bar in red indicates where Thorney Opportunities's Goodwill-to-Asset falls into.


ASX:TOP
36GF Score
Thorney Opportunities Ltd ASX:TOP
Goodwill-to-Asset is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Thorney Opportunities Goodwill-to-Asset Calculation

Goodwill to Asset ratio measures how much goodwill a company is recording compared to the total level of its assets.

It is calculated by dividing goodwill by total assets.

Thorney Opportunities's Goodwill to Asset Ratio for the fiscal year that ended in Jun. 2025 is calculated as

Goodwill to Asset (A: Jun. 2025 )=Goodwill/Total Assets
=0/179.896
=0.00

Thorney Opportunities's Goodwill to Asset Ratio for the quarter that ended in Dec. 2025 is calculated as

Goodwill to Asset (Q: Dec. 2025 )=Goodwill/Total Assets
=0/184.036
=0.00

* 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.

Frequently Asked Questions Learn more about Goodwill-to-Asset →
What does a Goodwill-to-Asset of 0.00 mean?
Thorney Opportunities (ASX:TOP) has a Goodwill-to-Asset of 0.00 as of Dec. 2025. Goodwill-to-Asset Ratio is the total goodwill from acquisitions divided by total assets. View historical data on Thorney Opportunities and its competitors.
Is Thorney Opportunities' Goodwill-to-Asset too high?
Thorney Opportunities' current Goodwill-to-Asset is 0.00. Overall, Thorney Opportunities has a GF Score™ of 36/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thorney Opportunities' Goodwill-to-Asset compare to BLK and BX?
Thorney Opportunities' Goodwill-to-Asset of 0.00 can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Goodwill-to-Asset for an Asset Management company?
A good Goodwill-to-Asset depends on the Asset Management industry context. However, Goodwill-to-Asset 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 Goodwill-to-Asset mean?
A high Goodwill-to-Asset can signal that a stock is expensive relative to its fundamentals. Goodwill-to-Asset Ratio is the total goodwill from acquisitions divided by total assets. View historical data on Thorney Opportunities and its competitors. Thorney Opportunities's current Goodwill-to-Asset is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thorney Opportunities stock overvalued right now?
Based on GuruFocus' analysis, Thorney Opportunities (ASX:TOP) is currently considered Significantly Undervalued. The stock's GF Value™ is A$0.96, compared to a current price of A$0.57 — trading 41.1% below its estimated fair value. The current Goodwill-to-Asset is 0.00. Thorney Opportunities' overall GF Score™ is 36/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Goodwill-to-Asset calculated?
Goodwill-to-Asset is calculated from a company's financial statements. For Thorney Opportunities (ASX:TOP), the current Goodwill-to-Asset is 0.00 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 Thorney Opportunities (ASX:TOP) Overvalued in 2026?

Based on GuruFocus' analysis, Thorney Opportunities stock appears to be undervalued. The current stock price of A$0.57 is trading 41.1% below its estimated GF Value™ of A$0.96. GuruFocus considers Thorney Opportunities to be Significantly Undervalued.

Key valuation signals for ASX:TOP:

  • Goodwill-to-Asset: 0.00
  • GF Value™: A$0.96 vs. price of A$0.57 (41.1% below fair value)
  • GF Score™: 36/100 with 1 warning sign

No single metric tells the full story. See the ASX:TOP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Thorney Opportunities Business Description

Address 55 Collins Street, Level 45, Melbourne, VIC, AUS, 3000
Thorney Opportunities Ltd is an investment company that concentrates on producing absolute returns for shareholders over the medium to long term. Its principal activity is making investments in listed and unlisted securities in a variety of sectors, including media, automotive, energy, and pharmaceutical.
36GF Score

Get the complete analysis for ASX:TOP

Goodwill-to-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

A$0.57
Price
A$0.96
GF Value