AARD (Aardvark Therapeutics) Scaled Net Operating Assets: -0.03 (As of Mar. 2026)


AARD Aardvark Therapeutics Inc AARD
12 GF Score
Price $4.79
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What is Aardvark Therapeutics Scaled Net Operating Assets?

Aardvark Therapeutics AARD -5.34% 12 Scaled Net Operating Assets is -0.03 as of Mar. 2026. GuruFocus rates AARD with a GF Score™ of 12/100. The stock has 1 warning sign investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Aardvark Therapeutics's operating assets for the quarter that ended in Mar. 2026 was $7.39 Mil. Aardvark Therapeutics's operating liabilities for the quarter that ended in Mar. 2026 was $11.27 Mil. Aardvark Therapeutics's Total Assets for the quarter that ended in Dec. 2025 was $117.18 Mil. Therefore, Aardvark Therapeutics's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was -0.03.

Aardvark Therapeutics Scaled Net Operating Assets Historical Data

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The historical data trend for Aardvark Therapeutics's Scaled Net Operating Assets 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.

Aardvark Therapeutics Scaled Net Operating Assets Chart

Aardvark Therapeutics Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
-2.61 -2.66 -12.10 -0.04

Aardvark Therapeutics Quarterly Data
Dec22 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 -0.03 -0.02 -0.02 -0.03

AARD vs TELO, OKYO, SGMO: Scaled Net Operating Assets Comparison

For the Biotechnology subindustry, Aardvark Therapeutics's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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.

Aardvark Therapeutics Scaled Net Operating Assets vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Aardvark Therapeutics's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Aardvark Therapeutics's Scaled Net Operating Assets falls into.


AARD
12GF Score
Aardvark Therapeutics Inc AARD
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Aardvark Therapeutics Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Aardvark Therapeutics's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(7.154-10.107)/77.507
=-0.04

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=117.181 - 110.027
=7.154

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=10.548 - 0 - 0.441
=10.107

Aardvark Therapeutics's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(7.39-11.268)/117.181
=-0.03

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=98.59 - 91.2
=7.39

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=11.604 - 0 - 0.336
=11.268

* 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 Scaled Net Operating Assets of -0.03 mean?
Aardvark Therapeutics (AARD) has a Scaled Net Operating Assets of -0.03 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Aardvark Therapeutics and its competitors.
Is Aardvark Therapeutics' Scaled Net Operating Assets too high?
Aardvark Therapeutics' current Scaled Net Operating Assets is -0.03. Overall, Aardvark Therapeutics has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Aardvark Therapeutics' Scaled Net Operating Assets compare to TELO and OKYO?
Aardvark Therapeutics' Scaled Net Operating Assets of -0.03 can be compared against companies in the Biotechnology industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Biotechnology company?
A good Scaled Net Operating Assets depends on the Biotechnology industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Aardvark Therapeutics and its competitors. Aardvark Therapeutics's current Scaled Net Operating Assets is -0.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aardvark Therapeutics stock overvalued right now?
Aardvark Therapeutics (AARD) has a current Scaled Net Operating Assets of -0.03. The current Scaled Net Operating Assets is -0.03. Aardvark Therapeutics' overall GF Score™ is 12/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Aardvark Therapeutics (AARD), the current Scaled Net Operating Assets is -0.03 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.

Aardvark Therapeutics Business Description

Address 4370 La Jolla Village Drive, Suite 1050, San Diego, CA, USA, 92122
Aardvark Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing novel, small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases. It is focused on on developing selective compounds, targeting Bitter Taste Receptors (TAS2Rs) for hunger-associated conditions. Its product candidate, ARD-101, is an oral gut-restricted small-molecule agonist of certain TAS2Rs expressed in the gut lumen for which have initiated a Phase 3 clinical trial for hyperphagia associated with PWS.
12GF Score

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