WAM Alternative Assets (ASX:WMA) Scaled Net Operating Assets: -0.15 (As of Dec. 2025)


ASX:WMA WAM Alternative Assets Ltd ASX:WMA
72 GF Score
Price A$0.97
GF Value A$1.08
Valuation Modestly Undervalued
! 4 Warning Signs
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What is WAM Alternative Assets Scaled Net Operating Assets?

WAM Alternative Assets ASX:WMA -1.02% 72 Scaled Net Operating Assets is -0.15 as of Dec. 2025. GuruFocus rates ASX:WMA with a GF Score™ of 72/100 and a GF Value™ of A$1.08 (Modestly Undervalued). 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.

WAM Alternative Assets's operating assets for the quarter that ended in Dec. 2025 was A$1.80 Mil. WAM Alternative Assets's operating liabilities for the quarter that ended in Dec. 2025 was A$42.23 Mil. WAM Alternative Assets's Total Assets for the quarter that ended in Jun. 2025 was A$274.92 Mil. Therefore, WAM Alternative Assets's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was -0.15.

ASX:WMA
72GF Score
WAM Alternative Assets Ltd ASX:WMA
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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WAM Alternative Assets 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 Alternative Assets'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 )
=(235.112-47.966)/277.667
=0.67

where

Operating Assets(A: Jun. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=274.924 - 39.812
=235.112

Operating Liabilities(A: Jun. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=47.966 - 0 - 0
=47.966

WAM Alternative Assets'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 )
=(1.802-42.231)/274.924
=-0.15

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=270.201 - 268.399
=1.802

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=42.231 - 0 - 0
=42.231

* 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 -0.15 mean?
WAM Alternative Assets (ASX:WMA) has a Scaled Net Operating Assets of -0.15 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 Alternative Assets and its competitors.
Is WAM Alternative Assets' Scaled Net Operating Assets too high?
WAM Alternative Assets' current Scaled Net Operating Assets is -0.15. Overall, WAM Alternative Assets has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does WAM Alternative Assets' Scaled Net Operating Assets compare to BLK and BX?
WAM Alternative Assets' Scaled Net Operating Assets of -0.15 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 Alternative Assets and its competitors. WAM Alternative Assets's current Scaled Net Operating Assets is -0.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAM Alternative Assets stock overvalued right now?
Based on GuruFocus' analysis, WAM Alternative Assets (ASX:WMA) is currently considered Modestly Undervalued. The stock's GF Value™ is A$1.08, compared to a current price of A$0.97 — trading 10.2% below its estimated fair value. The current Scaled Net Operating Assets is -0.15. WAM Alternative Assets' overall GF Score™ is 72/100 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 WAM Alternative Assets (ASX:WMA), the current Scaled Net Operating Assets is -0.15 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 Alternative Assets (ASX:WMA) Overvalued in 2026?

Based on GuruFocus' analysis, WAM Alternative Assets stock appears to be undervalued. The current stock price of A$0.97 is trading 10.2% below its estimated GF Value™ of A$1.08. GuruFocus considers WAM Alternative Assets to be Modestly Undervalued.

Key valuation signals for ASX:WMA:

  • Scaled Net Operating Assets: -0.15
  • GF Value™: A$1.08 vs. price of A$0.97 (10.2% below fair value)
  • GF Score™: 72/100 with 4 warning signs

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

WAM Alternative Assets Business Description

Address 1 Farrer Place, Level 26, Governor Phillip Tower, Sydney, NSW, AUS, 4000
WAM Alternative Assets Ltd is an investment company. Its investment objectives are to deliver absolute returns through a combination of dividend yield and capital growth, while providing diversification benefits to shareholders. The company provides investors with exposure to a portfolio of real assets, private equity, infrastructure, real estate, and private debt strategies.
72GF Score

Get the complete analysis for ASX:WMA

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

A$0.97
Price
A$1.08
GF Value