Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Xero's operating assets for the quarter that ended in Mar. 2026 was A$5,973 Mil. Xero's operating liabilities for the quarter that ended in Mar. 2026 was A$1,308 Mil. Xero's Total Assets for the quarter that ended in Sep. 2025 was A$6,099 Mil. Therefore, Xero's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.76.
Xero Scaled Net Operating Assets Related Terms
Xero Scaled Net Operating Assets Historical Data
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The historical data trend for Xero'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:XRO vs CRM, SHOP, UBER: Scaled Net Operating Assets Comparison
For the Software - Application subindustry, Xero'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.
Xero Scaled Net Operating Assets vs Software Industry
For the Software industry and Technology sector, Xero's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Xero'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 0.76 mean?
Xero (ASX:XRO) has a Scaled Net Operating Assets of 0.76 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Xero and its competitors.
Is Xero's Scaled Net Operating Assets too high?
Xero's current Scaled Net Operating Assets is 0.76. Overall, Xero has a GF Score™ of 81/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Xero's Scaled Net Operating Assets compare to CRM and SHOP?
Xero's Scaled Net Operating Assets of 0.76 can be compared against companies in the Software 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 Software company?
A good Scaled Net Operating Assets depends on the Software 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 Xero and its competitors. Xero's current Scaled Net Operating Assets is 0.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Xero stock overvalued right now?
Based on GuruFocus' analysis, Xero (ASX:XRO) is currently considered Possible Value Trap. The stock's GF Value™ is A$195.57, compared to a current price of A$69.05 — trading 64.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.76. Xero's overall GF Score™ is 81/100 with 7 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 Xero (ASX:XRO), the current Scaled Net Operating Assets is 0.76 as of Mar. 2026. 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 Xero (ASX:XRO) Overvalued in 2026?
Based on GuruFocus' analysis, Xero stock appears to be undervalued.
The current stock price of A$69.05 is trading 64.7% below its estimated GF Value™ of A$195.57.
GuruFocus considers Xero to be Possible Value Trap.
Key valuation signals for ASX:XRO:
Scaled Net Operating Assets: 0.76
GF Value™: A$195.57 vs. price of A$69.05 (64.7% below fair value)
No single metric tells the full story. See the ASX:XRO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Xero is a technology company originating from New Zealand, providing cloud-based accounting software, primarily for small and midsized enterprises, or SMEs, and accounting practices. As a first mover in the space for cloud-based accounting software, Xero has grown quickly to achieve dominant market share in New Zealand and Australia, displacing legacy providers. Xero has also expanded beyond its home region toward other English-speaking countries, primarily the UK and the US.
81GF 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.
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