BCAT (BlackRock Capital Allocation Trust) Scaled Net Operating Assets: 0.85 (As of Dec. 2025)


BCAT BlackRock Capital Allocation Trust BCAT
59 GF Score
Price $15.76
GF Value $17.85
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is BlackRock Capital Allocation Trust Scaled Net Operating Assets?

BlackRock Capital Allocation Trust BCAT +0.64% 59 Scaled Net Operating Assets is 0.85 as of Dec. 2025. GuruFocus rates BCAT with a GF Score™ of 59/100 and a GF Value™ of $17.85 (Modestly Undervalued). The stock has 3 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.

BlackRock Capital Allocation Trust's operating assets for the quarter that ended in Dec. 2025 was $1,959.0 Mil. BlackRock Capital Allocation Trust's operating liabilities for the quarter that ended in Dec. 2025 was $370.4 Mil. BlackRock Capital Allocation Trust's Total Assets for the quarter that ended in Jun. 2025 was $1,865.8 Mil. Therefore, BlackRock Capital Allocation Trust's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.85.

BCAT
59GF Score
BlackRock Capital Allocation Trust BCAT
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BlackRock Capital Allocation Trust 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.

BlackRock Capital Allocation Trust's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(1958.964-370.425)/1924.31
=0.83

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1965.718 - 6.754
=1958.964

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=370.425 - 0 - 0
=370.425

BlackRock Capital Allocation Trust'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 )
=(1958.964-370.425)/1865.763
=0.85

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1965.718 - 6.754
=1958.964

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=370.425 - 0 - 0
=370.425

* 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 0.85 mean?
BlackRock Capital Allocation Trust (BCAT) has a Scaled Net Operating Assets of 0.85 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 BlackRock Capital Allocation Trust and its competitors.
Is BlackRock Capital Allocation Trust's Scaled Net Operating Assets too high?
BlackRock Capital Allocation Trust's current Scaled Net Operating Assets is 0.85. Overall, BlackRock Capital Allocation Trust has a GF Score™ of 59/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does BlackRock Capital Allocation Trust's Scaled Net Operating Assets compare to STEW and BDJ?
BlackRock Capital Allocation Trust's Scaled Net Operating Assets of 0.85 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 BlackRock Capital Allocation Trust and its competitors. BlackRock Capital Allocation Trust's current Scaled Net Operating Assets is 0.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BlackRock Capital Allocation Trust stock overvalued right now?
Based on GuruFocus' analysis, BlackRock Capital Allocation Trust (BCAT) is currently considered Modestly Undervalued. The stock's GF Value™ is $17.85, compared to a current price of $15.76 — trading 11.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.85. BlackRock Capital Allocation Trust's overall GF Score™ is 59/100 with 3 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 BlackRock Capital Allocation Trust (BCAT), the current Scaled Net Operating Assets is 0.85 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 BlackRock Capital Allocation Trust (BCAT) Overvalued in 2026?

Based on GuruFocus' analysis, BlackRock Capital Allocation Trust stock appears to be undervalued. The current stock price of $15.76 is trading 11.7% below its estimated GF Value™ of $17.85. GuruFocus considers BlackRock Capital Allocation Trust to be Modestly Undervalued.

Key valuation signals for BCAT:

  • Scaled Net Operating Assets: 0.85
  • GF Value™: $17.85 vs. price of $15.76 (11.7% below fair value)
  • GF Score™: 59/100 with 3 warning signs

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

BlackRock Capital Allocation Trust Business Description

Address 100 Bellevue Parkway, Wilmington, DE, USA, 19809
BlackRock Capital Allocation Trust is a non-diversified, closed-end management investment company. The investment objective is to provide total return and income through a combination of current income, current gains and long-term capital appreciation.
59GF Score

Get the complete analysis for BCAT

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

$15.76
Price
$17.85
GF Value