The National Investor Co (ADX:TNI) Scaled Net Operating Assets: 0.84 (As of Dec. 2025)

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ADX:TNI The National Investor Co ADX:TNI
31 GF Score
Price د.إ0.64
GF Value د.إ0.94
! 4 Warning Signs
View Full Analysis

What is The National Investor Co Scaled Net Operating Assets?

The National Investor Co ADX:TNI 31 Scaled Net Operating Assets is 0.84 as of Dec. 2025. GuruFocus rates ADX:TNI with a GF Score™ of 31/100 and a GF Value™ of د.إ0.94. The stock has 4 warning signs investors should review.

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

The National Investor Co's operating assets for the quarter that ended in Dec. 2025 was د.إ241.70 Mil. The National Investor Co's operating liabilities for the quarter that ended in Dec. 2025 was د.إ14.36 Mil. The National Investor Co's Total Assets for the quarter that ended in Jun. 2025 was د.إ270.45 Mil. Therefore, The National Investor Co's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.84.


The National Investor Co Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for The National Investor Co'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.

The National Investor Co Scaled Net Operating Assets Chart

The National Investor Co Annual Data
Trend Mar16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.87 0.67 0.79 0.69 0.83

The National Investor Co Semi-Annual Data
Mar10 Mar11 Mar14 Mar15 Mar16 Dec17 Dec18 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Scaled Net Operating Assets 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 0.85 0.85 0.70 0.84 0.84

ADX:TNI vs BLK, BX, KKR: Scaled Net Operating Assets Comparison

For the Asset Management subindustry, The National Investor Co'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.


The National Investor Co Scaled Net Operating Assets vs Asset Management Industry

For the Asset Management industry and Financial Services sector, The National Investor Co's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where The National Investor Co's Scaled Net Operating Assets falls into.


ADX:TNI
31GF Score
The National Investor Co ADX:TNI
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

The National Investor Co 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.

The National Investor Co'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 )
=(241.703-14.357)/274.924
=0.83

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=280.848 - 39.145
=241.703

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=14.357 - 0 - 0
=14.357

The National Investor Co's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Dec. 2025 )
=(Operating Assets (Q: Dec. 2025 )-Operating Liabilities (Q: Dec. 2025 ))/Total Assets (Q: Jun. 2025 )
=(241.703-14.357)/270.454
=0.84

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=280.848 - 39.145
=241.703

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=14.357 - 0 - 0
=14.357

* 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 0.84 mean?
The National Investor Co (ADX:TNI) has a Scaled Net Operating Assets of 0.84 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on The National Investor Co and its competitors.
Is The National Investor Co's Scaled Net Operating Assets too high?
The National Investor Co's current Scaled Net Operating Assets is 0.84. Overall, The National Investor Co has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.
How does The National Investor Co's Scaled Net Operating Assets compare to BLK and BX?
The National Investor Co's Scaled Net Operating Assets of 0.84 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 Scaled Net Operating Assets for an Asset Management company?
A good Scaled Net Operating Assets depends on the Asset Management 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 The National Investor Co and its competitors. The National Investor Co's current Scaled Net Operating Assets is 0.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The National Investor Co stock overvalued right now?
The National Investor Co (ADX:TNI) has a current Scaled Net Operating Assets of 0.84. The stock's GF Value™ is د.إ0.94, compared to a current price of د.إ0.64 — trading 32% below its estimated fair value. The current Scaled Net Operating Assets is 0.84. The National Investor Co's overall GF Score™ is 31/100 with 4 warning signs 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 The National Investor Co (ADX:TNI), the current Scaled Net Operating Assets is 0.84 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 The National Investor Co (ADX:TNI) Overvalued in 2026?

Based on GuruFocus' analysis, The National Investor Co stock appears to be undervalued. The current stock price of د.إ0.64 is trading 32% below its estimated GF Value™ of د.إ0.94.

Key valuation signals for ADX:TNI:

  • Scaled Net Operating Assets: 0.84
  • GF Value™: د.إ0.94 vs. price of د.إ0.64 (32% below fair value)
  • GF Score™: 31/100 with 4 warning signs

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


The National Investor Co Business Description

Address Al Corniche Tower, P.O. Box 47435, Mezzanine Floor, Abu Dhabi, ARE
The National Investor Co and its subsidiaries are managed as an integrated investment and financial services company. The principal activities of the Group are private equity, real estate investment, and provision of consultancy, economic feasibility consultancy and studies, commercial agencies, and hospitality.
31GF Score

Get the complete analysis for ADX:TNI

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

د.إ0.64
Price
د.إ0.94
GF Value