Maybank Securities (Thailand) PCL (BKK:MST-R) Scaled Net Operating Assets: 0.74 (As of Mar. 2026)


BKK:MST-R Maybank Securities (Thailand) PCL BKK:MST-R
59 GF Score
Price ฿6.85
GF Value ฿6.44
! 7 Warning Signs
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What is Maybank Securities (Thailand) PCL Scaled Net Operating Assets?

Maybank Securities (Thailand) PCL BKK:MST-R 59 Scaled Net Operating Assets is 0.74 as of Mar. 2026. GuruFocus rates BKK:MST-R with a GF Score™ of 59/100 and a GF Value™ of ฿6.44. The stock has 7 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.

Maybank Securities (Thailand) PCL's operating assets for the quarter that ended in Mar. 2026 was ฿17,992 Mil. Maybank Securities (Thailand) PCL's operating liabilities for the quarter that ended in Mar. 2026 was ฿7,074 Mil. Maybank Securities (Thailand) PCL's Total Assets for the quarter that ended in Dec. 2025 was ฿14,804 Mil. Therefore, Maybank Securities (Thailand) PCL's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.74.


Maybank Securities (Thailand) PCL Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Maybank Securities (Thailand) 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.

Maybank Securities (Thailand) PCL Scaled Net Operating Assets Chart

Maybank Securities (Thailand) 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 1.14 0.66 0.69 0.84 0.54

Maybank Securities (Thailand) 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 0.82 0.65 0.63 0.77 0.74

BKK:MST-R vs MS, GS, SCHW: Scaled Net Operating Assets Comparison

For the Capital Markets subindustry, Maybank Securities (Thailand) 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.


Maybank Securities (Thailand) PCL Scaled Net Operating Assets vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Maybank Securities (Thailand) PCL's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Maybank Securities (Thailand) PCL's Scaled Net Operating Assets falls into.


BKK:MST-R
59GF Score
Maybank Securities (Thailand) PCL BKK:MST-R
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Maybank Securities (Thailand) 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.

Maybank Securities (Thailand) 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 )
=(14427.124-3901.148)/19485.306
=0.54

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=14803.555 - 376.431
=14427.124

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=9723.643 - 26 - 5796.495
=3901.148

Maybank Securities (Thailand) 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 )
=(17992.104-7074.203)/14803.555
=0.74

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=18874.313 - 882.209
=17992.104

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=13618.671 - 1141.145 - 5403.323
=7074.203

* 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 0.74 mean?
Maybank Securities (Thailand) PCL (BKK:MST-R) has a Scaled Net Operating Assets of 0.74 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 Maybank Securities (Thailand) PCL and its competitors.
Is Maybank Securities (Thailand) PCL's Scaled Net Operating Assets too high?
Maybank Securities (Thailand) PCL's current Scaled Net Operating Assets is 0.74. Overall, Maybank Securities (Thailand) PCL has a GF Score™ of 59/100, reflecting its overall financial health beyond just this single metric.
How does Maybank Securities (Thailand) PCL's Scaled Net Operating Assets compare to MS and GS?
Maybank Securities (Thailand) PCL's Scaled Net Operating Assets of 0.74 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 Maybank Securities (Thailand) PCL and its competitors. Maybank Securities (Thailand) PCL's current Scaled Net Operating Assets is 0.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maybank Securities (Thailand) PCL stock overvalued right now?
Maybank Securities (Thailand) PCL (BKK:MST-R) has a current Scaled Net Operating Assets of 0.74. The stock's GF Value™ is ฿6.44, compared to a current price of ฿6.85 — trading 6.4% above its estimated fair value. The current Scaled Net Operating Assets is 0.74. Maybank Securities (Thailand) PCL's overall GF Score™ is 59/100 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 Maybank Securities (Thailand) PCL (BKK:MST-R), the current Scaled Net Operating Assets is 0.74 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 Maybank Securities (Thailand) PCL (BKK:MST-R) Overvalued in 2026?

Based on GuruFocus' analysis, Maybank Securities (Thailand) PCL stock appears to be overvalued. The current stock price of ฿6.85 is trading 6.4% above its estimated GF Value™ of ฿6.44.

Key valuation signals for BKK:MST-R:

  • Scaled Net Operating Assets: 0.74
  • GF Value™: ฿6.44 vs. price of ฿6.85 (6.4% above fair value)
  • GF Score™: 59/100 with 7 warning signs

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


Maybank Securities (Thailand) PCL Business Description

Other Exchanges MST:Thailand
Address Rama 1 Road, 20th - 21st Floor and 25th Floor, 999/9 The Offices at Central World Building, Pathumwan, Bangkok, THA, 10330
Maybank Securities (Thailand) PCL is a public limited company incorporated and domiciled in Thailand. The company has licenses for securities business, which are securities brokerage, securities trading, underwriting, investment advisory, corporate finance advisory, securities registrar, derivatives brokerage, and securities borrowing and lending. The company is organized into business units based on its products and services and has two segments, namely the Securities Business segment, which also generates key revenue, provides services like securities brokering, derivative brokering, securities borrowing and lending, and the Investment Banking segment, which provides underwriting, investment advisory, securities borrowing and lending, and corporate finance advisory services.
59GF Score

Get the complete analysis for BKK:MST-R

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

฿6.85
Price
฿6.44
GF Value