ATEYY (Advantest) Scaled Net Operating Assets: 0.46 (As of Mar. 2026)


ATEYY Advantest Corp ATEYY
87 GF Score
Price $192.75
GF Value $103.66
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Advantest Scaled Net Operating Assets?

Advantest ATEYY +1.21% 87 Scaled Net Operating Assets is 0.46 as of Mar. 2026. GuruFocus rates ATEYY with a GF Score™ of 87/100 and a GF Value™ of $103.66 (Significantly Overvalued). The stock has 5 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.

Advantest's operating assets for the quarter that ended in Mar. 2026 was $5,242 Mil. Advantest's operating liabilities for the quarter that ended in Mar. 2026 was $2,243 Mil. Advantest's Total Assets for the quarter that ended in Dec. 2025 was $6,545 Mil. Therefore, Advantest's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.46.

Advantest Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Advantest'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.

Advantest Scaled Net Operating Assets Chart

Advantest Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.48 0.60 0.62 0.51 0.52

Advantest Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.44 0.47 0.44 0.41 0.46

ATEYY vs LRCX, AMAT, KLAC: Scaled Net Operating Assets Comparison

For the Semiconductor Equipment & Materials subindustry, Advantest'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.

Advantest Scaled Net Operating Assets vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Advantest's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Advantest's Scaled Net Operating Assets falls into.


ATEYY
87GF Score
Advantest Corp ATEYY
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Advantest 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.

Advantest's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(A: Mar. 2026 )
=(Operating Assets (A: Mar. 2026 )-Operating Liabilities (A: Mar. 2026 ))/Total Assets (A: Mar. 2025 )
=(5242.223-2242.829)/5730.738
=0.52

where

Operating Assets(A: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=7384.649 - 2142.426
=5242.223

Operating Liabilities(A: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2370.076 - 95.952 - 31.295
=2242.829

Advantest's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(5242.223-2242.829)/6545.329
=0.46

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=7384.649 - 2142.426
=5242.223

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2370.076 - 95.952 - 31.295
=2242.829

* 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 0.46 mean?
Advantest (ATEYY) has a Scaled Net Operating Assets of 0.46 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 Advantest and its competitors.
Is Advantest's Scaled Net Operating Assets too high?
Advantest's current Scaled Net Operating Assets is 0.46. Overall, Advantest has a GF Score™ of 87/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Advantest's Scaled Net Operating Assets compare to LRCX and AMAT?
Advantest's Scaled Net Operating Assets of 0.46 can be compared against companies in the Semiconductors 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 Semiconductors company?
A good Scaled Net Operating Assets depends on the Semiconductors 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 Advantest and its competitors. Advantest's current Scaled Net Operating Assets is 0.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Advantest stock overvalued right now?
Based on GuruFocus' analysis, Advantest (ATEYY) is currently considered Significantly Overvalued. The stock's GF Value™ is $103.66, compared to a current price of $192.75 — trading 85.9% above its estimated fair value. The current Scaled Net Operating Assets is 0.46. Advantest's overall GF Score™ is 87/100 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 Advantest (ATEYY), the current Scaled Net Operating Assets is 0.46 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 Advantest (ATEYY) Overvalued in 2026?

Based on GuruFocus' analysis, Advantest stock appears to be overvalued. The current stock price of $192.75 is trading 85.9% above its estimated GF Value™ of $103.66. GuruFocus considers Advantest to be Significantly Overvalued.

Key valuation signals for ATEYY:

  • Scaled Net Operating Assets: 0.46
  • GF Value™: $103.66 vs. price of $192.75 (85.9% above fair value)
  • GF Score™: 87/100 with 5 warning signs

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

Advantest Business Description

Address 1-6-2, Marunouchi, Shin-Marunouchi Center Building, Chiyoda-ku, Tokyo, JPN, 100-0005
Founded in 1954 and headquartered in Tokyo, Advantest specializes in semiconductor test systems and is a well-known leader in automated test equipment, or ATE. Advantest also has a high market share in test systems for nonmemory semiconductors, including application processors for mobile phones. The company is also involved in peripheral businesses, such as semiconductor device transport equipment. Following its acquisition of Verigy in July 2011, Advantest holds a market share of over 50% in the ATE market.
87GF Score

Get the complete analysis for ATEYY

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

$192.75
Price
$103.66
GF Value