Fundo Investimento Imobiliario SC 401 (BSP:FISC11) Scaled Net Operating Assets: 0.95 (As of Dec. 2025)


BSP:FISC11 Fundo Investimento Imobiliario SC 401 BSP:FISC11
71 GF Score
Price R$68.25
GF Value R$95.51
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Fundo Investimento Imobiliario SC 401 Scaled Net Operating Assets?

Fundo Investimento Imobiliario SC 401 BSP:FISC11 +0.01% 71 Scaled Net Operating Assets is 0.95 as of Dec. 2025. GuruFocus rates BSP:FISC11 with a GF Score™ of 71/100 and a GF Value™ of R$95.51 (Modestly Undervalued). The stock has 2 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.

Fundo Investimento Imobiliario SC 401's operating assets for the quarter that ended in Dec. 2025 was R$187.82 Mil. Fundo Investimento Imobiliario SC 401's operating liabilities for the quarter that ended in Dec. 2025 was R$0.64 Mil. Fundo Investimento Imobiliario SC 401's Total Assets for the quarter that ended in Dec. 2024 was R$196.22 Mil. Therefore, Fundo Investimento Imobiliario SC 401's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.95.


Fundo Investimento Imobiliario SC 401 Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Fundo Investimento Imobiliario SC 401'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.

Fundo Investimento Imobiliario SC 401 Scaled Net Operating Assets Chart

Fundo Investimento Imobiliario SC 401 Annual Data
Trend Dec15 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 0.73 1.01 1.02 0.92 0.95

Fundo Investimento Imobiliario SC 401 Semi-Annual Data
Dec12 Dec13 Dec14 Dec15 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 Premium Member Only Premium Member Only Premium Member Only 0.73 1.01 1.02 0.92 0.95

BSP:FISC11 vs VICI, WPC: Scaled Net Operating Assets Comparison

For the REIT - Diversified subindustry, Fundo Investimento Imobiliario SC 401'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.


Fundo Investimento Imobiliario SC 401 Scaled Net Operating Assets vs REITs Industry

For the REITs industry and Real Estate sector, Fundo Investimento Imobiliario SC 401's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Fundo Investimento Imobiliario SC 401's Scaled Net Operating Assets falls into.


BSP:FISC11
71GF Score
Fundo Investimento Imobiliario SC 401 BSP:FISC11
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Fundo Investimento Imobiliario SC 401 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.

Fundo Investimento Imobiliario SC 401'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 )
=(187.817-0.642)/196.217
=0.95

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=189.458 - 1.641
=187.817

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=0.642 - 0 - 0
=0.642

Fundo Investimento Imobiliario SC 401'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: Dec. 2024 )
=(187.817-0.642)/196.217
=0.95

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=189.458 - 1.641
=187.817

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=0.642 - 0 - 0
=0.642

* 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 0.95 mean?
Fundo Investimento Imobiliario SC 401 (BSP:FISC11) has a Scaled Net Operating Assets of 0.95 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 Fundo Investimento Imobiliario SC 401 and its competitors.
Is Fundo Investimento Imobiliario SC 401's Scaled Net Operating Assets too high?
Fundo Investimento Imobiliario SC 401's current Scaled Net Operating Assets is 0.95. Overall, Fundo Investimento Imobiliario SC 401 has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fundo Investimento Imobiliario SC 401's Scaled Net Operating Assets compare to VICI and WPC?
Fundo Investimento Imobiliario SC 401's Scaled Net Operating Assets of 0.95 can be compared against companies in the REITs 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 REITs company?
A good Scaled Net Operating Assets depends on the REITs 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 Fundo Investimento Imobiliario SC 401 and its competitors. Fundo Investimento Imobiliario SC 401's current Scaled Net Operating Assets is 0.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fundo Investimento Imobiliario SC 401 stock overvalued right now?
Based on GuruFocus' analysis, Fundo Investimento Imobiliario SC 401 (BSP:FISC11) is currently considered Modestly Undervalued. The stock's GF Value™ is R$95.51, compared to a current price of R$68.25 — trading 28.5% below its estimated fair value. The current Scaled Net Operating Assets is 0.95. Fundo Investimento Imobiliario SC 401's overall GF Score™ is 71/100 with 2 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 Fundo Investimento Imobiliario SC 401 (BSP:FISC11), the current Scaled Net Operating Assets is 0.95 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 Fundo Investimento Imobiliario SC 401 (BSP:FISC11) Overvalued in 2026?

Based on GuruFocus' analysis, Fundo Investimento Imobiliario SC 401 stock appears to be undervalued. The current stock price of R$68.25 is trading 28.5% below its estimated GF Value™ of R$95.51. GuruFocus considers Fundo Investimento Imobiliario SC 401 to be Modestly Undervalued.

Key valuation signals for BSP:FISC11:

  • Scaled Net Operating Assets: 0.95
  • GF Value™: R$95.51 vs. price of R$68.25 (28.5% below fair value)
  • GF Score™: 71/100 with 2 warning signs

No single metric tells the full story. See the BSP:FISC11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fundo Investimento Imobiliario SC 401 Business Description

Industry Real EstateREITs
Address RUA SURUBIM, 577 - 10th Floor - CJ. 101, CIDADE MONCOES, SAO PAULO, SP, BRA, 4571050
Fundo Investimento Imobiliario SC 401 is a structured fund operated by UNITS BR-CAPITAL. The fund owns stores and office complexes for the lease of Square SC, a multipurpose development located in Florianopolis/SC, and Mall W Tower, a mall located in Caxias do Sul/RS. The fund owns stores and corporate offices in Square SC, in addition to owning the rotating parking lot and owns stores in the Mall W Tower and the rotating parking in the Mall.
71GF Score

Get the complete analysis for BSP:FISC11

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

R$68.25
Price
R$95.51
GF Value