Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Step One Clothing's operating assets for the quarter that ended in Dec. 2025 was A$30.51 Mil. Step One Clothing's operating liabilities for the quarter that ended in Dec. 2025 was A$7.50 Mil. Step One Clothing's Total Assets for the quarter that ended in Jun. 2025 was A$62.13 Mil. Therefore, Step One Clothing's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.37.
Step One Clothing Scaled Net Operating Assets Related Terms
Step One Clothing Scaled Net Operating Assets Historical Data
* Premium members only.
The historical data trend for Step One Clothing'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.
Step One Clothing Scaled Net Operating Assets Chart
ASX:STP vs TJX, ROST, BURL: Scaled Net Operating Assets Comparison
For the Apparel Retail subindustry, Step One Clothing'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.
Step One Clothing Scaled Net Operating Assets vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Step One Clothing's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Step One Clothing's Scaled Net Operating Assets 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 Scaled Net Operating Assets of 0.37 mean?
Step One Clothing (ASX:STP) has a Scaled Net Operating Assets of 0.37 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 Step One Clothing and its competitors.
Is Step One Clothing's Scaled Net Operating Assets too high?
Step One Clothing's current Scaled Net Operating Assets is 0.37. Overall, Step One Clothing has a GF Score™ of 39/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Step One Clothing's Scaled Net Operating Assets compare to TJX and ROST?
Step One Clothing's Scaled Net Operating Assets of 0.37 can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good Scaled Net Operating Assets depends on the Retail - Cyclical 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 Step One Clothing and its competitors. Step One Clothing's current Scaled Net Operating Assets is 0.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Step One Clothing stock overvalued right now?
Based on GuruFocus' analysis, Step One Clothing (ASX:STP) is currently considered Significantly Undervalued. The stock's GF Value™ is A$0.64, compared to a current price of A$0.14 — trading 78.1% below its estimated fair value. The current Scaled Net Operating Assets is 0.37. Step One Clothing's overall GF Score™ is 39/100 with 3 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 Step One Clothing (ASX:STP), the current Scaled Net Operating Assets is 0.37 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 Step One Clothing (ASX:STP) Overvalued in 2026?
Based on GuruFocus' analysis, Step One Clothing stock appears to be undervalued.
The current stock price of A$0.14 is trading 78.1% below its estimated GF Value™ of A$0.64.
GuruFocus considers Step One Clothing to be Significantly Undervalued.
Key valuation signals for ASX:STP:
Scaled Net Operating Assets: 0.37
GF Value™: A$0.64 vs. price of A$0.14 (78.1% below fair value)
No single metric tells the full story. See the ASX:STP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Step One Clothing Ltd is a direct-to-consumer online retailer for men's undergarments. Its products comprise Boxer Brief, Trunks, and Boxer Breif+Fly. Its group is organized into three operating segments, being online retail sales for Australia, the United Kingdom, and the United States of America, however, these segments are aggregated into one reportable segment.
39GF Score
Get the complete analysis for ASX:STP
Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:STP has been successfully added to your 
