Asia Plus Group Holdings PCL (BKK:ASP) Scaled Net Operating Assets: 0.31 (As of Mar. 2026)


BKK:ASP Asia Plus Group Holdings PCL BKK:ASP
69 GF Score
Price ฿2.16
GF Value ฿2.20
Valuation Fairly Valued
! 6 Warning Signs
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What is Asia Plus Group Holdings PCL Scaled Net Operating Assets?

Asia Plus Group Holdings PCL BKK:ASP 69 Scaled Net Operating Assets is 0.31 as of Mar. 2026. GuruFocus rates BKK:ASP with a GF Score™ of 69/100 and a GF Value™ of ฿2.20 (Fairly Valued). The stock has 6 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.

Asia Plus Group Holdings PCL's operating assets for the quarter that ended in Mar. 2026 was ฿7,702 Mil. Asia Plus Group Holdings PCL's operating liabilities for the quarter that ended in Mar. 2026 was ฿4,785 Mil. Asia Plus Group Holdings PCL's Total Assets for the quarter that ended in Dec. 2025 was ฿9,283 Mil. Therefore, Asia Plus Group Holdings PCL's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.31.


Asia Plus Group Holdings PCL Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Asia Plus Group Holdings PCL'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.

Asia Plus Group Holdings PCL Scaled Net Operating Assets Chart

Asia Plus Group Holdings PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.90 0.65 0.49 0.50 0.41

Asia Plus Group Holdings PCL 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 0.38 0.15 0.23 0.35 0.31

BKK:ASP vs MS, GS, SCHW: Scaled Net Operating Assets Comparison

For the Capital Markets subindustry, Asia Plus Group Holdings PCL'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.


Asia Plus Group Holdings PCL Scaled Net Operating Assets vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Asia Plus Group Holdings PCL's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Asia Plus Group Holdings PCL's Scaled Net Operating Assets falls into.


BKK:ASP
69GF Score
Asia Plus Group Holdings PCL BKK:ASP
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Asia Plus Group Holdings PCL 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.

Asia Plus Group Holdings PCL'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 )
=(5936.019-1046.308)/12012.722
=0.41

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=9283.404 - 3347.385
=5936.019

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4525.851 - 129.078 - 3350.465
=1046.308

Asia Plus Group Holdings PCL'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 )
=(7702.1-4785.337)/9283.404
=0.31

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=11353.564 - 3651.464
=7702.1

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=6496.77 - 161.876 - 1549.557
=4785.337

* 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 0.31 mean?
Asia Plus Group Holdings PCL (BKK:ASP) has a Scaled Net Operating Assets of 0.31 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 Asia Plus Group Holdings PCL and its competitors.
Is Asia Plus Group Holdings PCL's Scaled Net Operating Assets too high?
Asia Plus Group Holdings PCL's current Scaled Net Operating Assets is 0.31. Overall, Asia Plus Group Holdings PCL has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Asia Plus Group Holdings PCL's Scaled Net Operating Assets compare to MS and GS?
Asia Plus Group Holdings PCL's Scaled Net Operating Assets of 0.31 can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Scaled Net Operating Assets depends on the Capital Markets 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 Asia Plus Group Holdings PCL and its competitors. Asia Plus Group Holdings PCL's current Scaled Net Operating Assets is 0.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asia Plus Group Holdings PCL stock overvalued right now?
Based on GuruFocus' analysis, Asia Plus Group Holdings PCL (BKK:ASP) is currently considered Fairly Valued. The stock's GF Value™ is ฿2.20, compared to a current price of ฿2.16 — trading 1.8% below its estimated fair value. The current Scaled Net Operating Assets is 0.31. Asia Plus Group Holdings PCL's overall GF Score™ is 69/100 with 6 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 Asia Plus Group Holdings PCL (BKK:ASP), the current Scaled Net Operating Assets is 0.31 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 Asia Plus Group Holdings PCL (BKK:ASP) Overvalued in 2026?

Based on GuruFocus' analysis, Asia Plus Group Holdings PCL stock appears to be undervalued. The current stock price of ฿2.16 is trading 1.8% below its estimated GF Value™ of ฿2.20. GuruFocus considers Asia Plus Group Holdings PCL to be Fairly Valued.

Key valuation signals for BKK:ASP:

  • Scaled Net Operating Assets: 0.31
  • GF Value™: ฿2.20 vs. price of ฿2.16 (1.8% below fair value)
  • GF Score™: 69/100 with 6 warning signs

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


Asia Plus Group Holdings PCL Business Description

Address No. 175, South Sathorn Road, 3/1 Floor, Sathorn City Tower, Thungmahamek, Sathorn, Bangkok, THA, 10120
Asia Plus Group Holdings PCL is a Thailand-based company engaged in investing. It is involved in the business activities of securities brokerage, securities trading, investment advisory, underwriting, securities borrowing and lending, private fund management, mutual fund management, and venture capital management. All the business operations of the company are principally carried out in Thailand. The operating segments of the group are Securities and derivatives brokerage, Investment banking, Fund Management, Investment trading, and others. It generates the majority of its revenue from the Fund Management segment.
69GF Score

Get the complete analysis for BKK:ASP

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

฿2.16
Price
฿2.20
GF Value