WAM Research (ASX:WAX) Scaled Net Operating Assets: 0.02 (As of Dec. 2025)


ASX:WAX WAM Research Ltd ASX:WAX
40 GF Score
Price A$1.03
GF Value A$0.01
Valuation Significantly Overvalued
! 1 Warning Sign
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What is WAM Research Scaled Net Operating Assets?

WAM Research ASX:WAX 40 Scaled Net Operating Assets is 0.02 as of Dec. 2025. GuruFocus rates ASX:WAX with a GF Score™ of 40/100 and a GF Value™ of A$0.01 (Significantly Overvalued). 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.

WAM Research's operating assets for the quarter that ended in Dec. 2025 was A$9.07 Mil. WAM Research's operating liabilities for the quarter that ended in Dec. 2025 was A$4.71 Mil. WAM Research's Total Assets for the quarter that ended in Jun. 2025 was A$243.28 Mil. Therefore, WAM Research's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.02.

ASX:WAX
40GF Score
WAM Research Ltd ASX:WAX
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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WAM Research 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.

WAM Research's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Jun. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Jun. 2025 )
=(Operating Assets (A: Jun. 2025 )-Operating Liabilities (A: Jun. 2025 ))/Total Assets (A: Jun. 2024 )
=(233.026-17.072)/233.636
=0.92

where

Operating Assets(A: Jun. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=243.281 - 10.255
=233.026

Operating Liabilities(A: Jun. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=17.072 - 0 - 0
=17.072

WAM Research'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 )
=(9.074-4.714)/243.281
=0.02

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=218.986 - 209.912
=9.074

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4.714 - 0 - 0
=4.714

* 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 0.02 mean?
WAM Research (ASX:WAX) has a Scaled Net Operating Assets of 0.02 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 WAM Research and its competitors.
Is WAM Research's Scaled Net Operating Assets too high?
WAM Research's current Scaled Net Operating Assets is 0.02. Overall, WAM Research has a GF Score™ of 40/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does WAM Research's Scaled Net Operating Assets compare to BLK and BX?
WAM Research's Scaled Net Operating Assets of 0.02 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 WAM Research and its competitors. WAM Research's current Scaled Net Operating Assets is 0.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAM Research stock overvalued right now?
Based on GuruFocus' analysis, WAM Research (ASX:WAX) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.01, compared to a current price of A$1.03 — trading 10150% above its estimated fair value. The current Scaled Net Operating Assets is 0.02. WAM Research's overall GF Score™ is 40/100 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 WAM Research (ASX:WAX), the current Scaled Net Operating Assets is 0.02 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 WAM Research (ASX:WAX) Overvalued in 2026?

Based on GuruFocus' analysis, WAM Research stock appears to be overvalued. The current stock price of A$1.03 is trading 10150% above its estimated GF Value™ of A$0.01. GuruFocus considers WAM Research to be Significantly Overvalued.

Key valuation signals for ASX:WAX:

  • Scaled Net Operating Assets: 0.02
  • GF Value™: A$0.01 vs. price of A$1.03 (10150% above fair value)
  • GF Score™: 40/100 with 1 warning sign

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

WAM Research Business Description

Address 1 Farrer Place, Level 26, Governor Phillip Tower, Sydney, NSW, AUS, 2000
WAM Research Ltd is engaged in making investments in listed companies, including cash, term deposits, and equity investments. The company's investment objectives are to deliver a stream of fully franked dividends and to achieve a high real rate of return, comprising both income and capital growth, within the risk parameters acceptable.
40GF Score

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

A$1.03
Price
A$0.01
GF Value