AX (Axos Financial) Scaled Net Operating Assets: 0.15 (As of Mar. 2026)


AX Axos Financial Inc AX
85 GF Score
Price $94.35
GF Value $87.65
Valuation Fairly Valued
! 4 Warning Signs
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What is Axos Financial Scaled Net Operating Assets?

Axos Financial AX +3.23% 85 Scaled Net Operating Assets is 0.15 as of Mar. 2026. GuruFocus rates AX with a GF Score™ of 85/100 and a GF Value™ of $87.65 (Fairly Valued). 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.

Axos Financial's operating assets for the quarter that ended in Mar. 2026 was $27,680 Mil. Axos Financial's operating liabilities for the quarter that ended in Mar. 2026 was $23,366 Mil. Axos Financial's Total Assets for the quarter that ended in Dec. 2025 was $28,201 Mil. Therefore, Axos Financial's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.15.

AX
85GF Score
Axos Financial Inc AX
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Axos Financial 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.

Axos Financial'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 )
=(22849.233-21729.73)/22855.334
=0.05

where

Operating Assets(A: Jun. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=24783.078 - 1933.845
=22849.233

Operating Liabilities(A: Jun. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=22102.401 - 372.671 - 0
=21729.73

Axos Financial'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 )
=(27680.016-23366.286)/28201.406
=0.15

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=29248.986 - 1568.97
=27680.016

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=26183.803 - 1072.517 - 1745
=23366.286

* 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?
Axos Financial (AX) has a Scaled Net Operating Assets of 0.15 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 Axos Financial and its competitors.
Is Axos Financial's Scaled Net Operating Assets too high?
Axos Financial's current Scaled Net Operating Assets is 0.15. Overall, Axos Financial has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Axos Financial's Scaled Net Operating Assets compare to FINN and FFIN?
Axos Financial's Scaled Net Operating Assets of 0.15 can be compared against companies in the Banks 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 Banks company?
A good Scaled Net Operating Assets depends on the Banks 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 Axos Financial and its competitors. Axos Financial'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 Axos Financial stock overvalued right now?
Based on GuruFocus' analysis, Axos Financial (AX) is currently considered Fairly Valued. The stock's GF Value™ is $87.65, compared to a current price of $94.35 — trading 7.6% above its estimated fair value. The current Scaled Net Operating Assets is 0.15. Axos Financial's overall GF Score™ is 85/100 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 Axos Financial (AX), the current Scaled Net Operating Assets is 0.15 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 Axos Financial (AX) Overvalued in 2026?

Based on GuruFocus' analysis, Axos Financial stock appears to be overvalued. The current stock price of $94.35 is trading 7.6% above its estimated GF Value™ of $87.65. GuruFocus considers Axos Financial to be Fairly Valued.

Key valuation signals for AX:

  • Scaled Net Operating Assets: 0.15
  • GF Value™: $87.65 vs. price of $94.35 (7.6% above fair value)
  • GF Score™: 85/100 with 4 warning signs

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

Axos Financial Business Description

Other Exchanges BB4:Germany
Address 9205 West Russell Road, Suite 400, Las Vegas, NV, USA, 89148
Axos Financial Inc is a bank holding company that operates through its bank subsidiary, BofI Federal Bank, a nationwide bank that provides financing for single and multifamily residential properties, small to medium-size businesses in certain sectors, and selected specialty finance receivables. Its operating segments are banking business segment and securities business segment. The bank distributed its products through a wide range of retail distribution channels, including only banking brands, affinity groups, and sales teams, among others. The majority of the bank's mortgage exposure is titled toward the state of California, particularly its southern region. Net interest income is a majority of the bank's revenue.
85GF Score

Get the complete analysis for AX

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

$94.35
Price
$87.65
GF Value