Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Vulcan Steel's operating assets for the quarter that ended in Dec. 2025 was A$912.9 Mil. Vulcan Steel's operating liabilities for the quarter that ended in Dec. 2025 was A$171.4 Mil. Vulcan Steel's Total Assets for the quarter that ended in Jun. 2025 was A$796.0 Mil. Therefore, Vulcan Steel's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.93.
Vulcan Steel Scaled Net Operating Assets Related Terms
Vulcan Steel Scaled Net Operating Assets Historical Data
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The historical data trend for Vulcan Steel'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.
ASX:VSL vs NUE, STLD, RS: Scaled Net Operating Assets Comparison
For the Steel subindustry, Vulcan Steel'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.
Vulcan Steel Scaled Net Operating Assets vs Steel Industry
For the Steel industry and Basic Materials sector, Vulcan Steel's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Vulcan Steel'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 0.93 mean?
Vulcan Steel (ASX:VSL) has a Scaled Net Operating Assets of 0.93 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 Vulcan Steel and its competitors.
Is Vulcan Steel's Scaled Net Operating Assets too high?
Vulcan Steel's current Scaled Net Operating Assets is 0.93. Overall, Vulcan Steel has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Steel's Scaled Net Operating Assets compare to NUE and STLD?
Vulcan Steel's Scaled Net Operating Assets of 0.93 can be compared against companies in the Steel 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 Steel company?
A good Scaled Net Operating Assets depends on the Steel 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 Vulcan Steel and its competitors. Vulcan Steel's current Scaled Net Operating Assets is 0.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Steel stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Steel (ASX:VSL) is currently considered Modestly Undervalued. The stock's GF Value™ is A$6.22, compared to a current price of A$4.99 — trading 19.8% below its estimated fair value. The current Scaled Net Operating Assets is 0.93. Vulcan Steel's overall GF Score™ is 60/100 with 5 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 Vulcan Steel (ASX:VSL), the current Scaled Net Operating Assets is 0.93 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 Vulcan Steel (ASX:VSL) Overvalued in 2026?
Based on GuruFocus' analysis, Vulcan Steel stock appears to be undervalued.
The current stock price of A$4.99 is trading 19.8% below its estimated GF Value™ of A$6.22.
GuruFocus considers Vulcan Steel to be Modestly Undervalued.
Key valuation signals for ASX:VSL:
Scaled Net Operating Assets: 0.93
GF Value™: A$6.22 vs. price of A$4.99 (19.8% below fair value)
No single metric tells the full story. See the ASX:VSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vulcan Steel Ltd is a metals distributor and processor. Its products include Steel, Stainless Steel, Engineering steel, Plate processing, and Coil processing. The company has two operating segments namely, the Steel business across New Zealand and Australia which includes Steel distribution, Plate processing, and Coil processing; and Metals business across New Zealand, which includes Stainless Steel, Engineering Steel, and Aluminium.
60GF Score
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