Netbay PCL (BKK:NETBAY) Scaled Net Operating Assets: 0.19 (As of Mar. 2026)


BKK:NETBAY Netbay PCL BKK:NETBAY
78 GF Score
Price ฿9.85
GF Value ฿21.55
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Netbay PCL Scaled Net Operating Assets?

Netbay PCL BKK:NETBAY +1.03% 78 Scaled Net Operating Assets is 0.19 as of Mar. 2026. GuruFocus rates BKK:NETBAY with a GF Score™ of 78/100 and a GF Value™ of ฿21.55 (Significantly 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.

Netbay PCL's operating assets for the quarter that ended in Mar. 2026 was ฿311.8 Mil. Netbay PCL's operating liabilities for the quarter that ended in Mar. 2026 was ฿172.2 Mil. Netbay PCL's Total Assets for the quarter that ended in Dec. 2025 was ฿721.3 Mil. Therefore, Netbay PCL's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.19.

Netbay PCL Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Netbay 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.

Netbay PCL Scaled Net Operating Assets Chart

Netbay 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 0.12 0.24 0.25 0.16 0.16

Netbay 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 0.17 0.17 0.20 0.18 0.19

BKK:NETBAY vs CRM, SHOP, UBER: Scaled Net Operating Assets Comparison

For the Software - Application subindustry, Netbay 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.

Netbay PCL Scaled Net Operating Assets vs Software Industry

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

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


BKK:NETBAY
78GF Score
Netbay PCL BKK:NETBAY
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Netbay 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.

Netbay 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 )
=(314.222-195.103)/770.41
=0.15

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=721.252 - 407.03
=314.222

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=217.005 - 13.722 - 8.18
=195.103

Netbay 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 )
=(311.82-172.201)/721.252
=0.19

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=730.193 - 418.373
=311.82

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=192.286 - 11.846 - 8.239
=172.201

* 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 0.19 mean?
Netbay PCL (BKK:NETBAY) has a Scaled Net Operating Assets of 0.19 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 Netbay PCL and its competitors.
Is Netbay PCL's Scaled Net Operating Assets too high?
Netbay PCL's current Scaled Net Operating Assets is 0.19. Overall, Netbay PCL has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Netbay PCL's Scaled Net Operating Assets compare to CRM and SHOP?
Netbay PCL's Scaled Net Operating Assets of 0.19 can be compared against companies in the Software 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 Software company?
A good Scaled Net Operating Assets depends on the Software 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 Netbay PCL and its competitors. Netbay PCL's current Scaled Net Operating Assets is 0.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netbay PCL stock overvalued right now?
Based on GuruFocus' analysis, Netbay PCL (BKK:NETBAY) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿21.55, compared to a current price of ฿9.85 — trading 54.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.19. Netbay PCL's overall GF Score™ is 78/100 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 Netbay PCL (BKK:NETBAY), the current Scaled Net Operating Assets is 0.19 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 Netbay PCL (BKK:NETBAY) Overvalued in 2026?

Based on GuruFocus' analysis, Netbay PCL stock appears to be undervalued. The current stock price of ฿9.85 is trading 54.3% below its estimated GF Value™ of ฿21.55. GuruFocus considers Netbay PCL to be Significantly Undervalued.

Key valuation signals for BKK:NETBAY:

  • Scaled Net Operating Assets: 0.19
  • GF Value™: ฿21.55 vs. price of ฿9.85 (54.3% below fair value)
  • GF Score™: 78/100 with 3 warning signs

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

Netbay PCL Business Description

Address No. 719/5, 8-9, Rama 6 Road, Wang Mai Sub-district, Pathumwan District, Bangkok, THA, 10330
Netbay PCL is a Thailand-based company engaged in the provision and development of computer software used in the transmission of information electronically. The company creates, designs, and develops a digital business technology platform and omnichannel connectivity gateway. It operates in two segments: The e-Business segment, which develops an e-Business product in the form of services (SaaS: Software As A Service), and the e-Service segment, which rendered an e-Business service for the Business segment to Government (B2G) transaction, and Business segment to Business segment (B2B) transaction. The company operates only in Thailand and generates the majority of its revenue from the e-Business segment.
78GF Score

Get the complete analysis for BKK:NETBAY

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

฿9.85
Price
฿21.55
GF Value