BH Macro (CHIX:BHMGL) Scaled Net Operating Assets: 0.94 (As of Dec. 2025)


CHIX:BHMGL BH Macro Ltd CHIX:BHMGL
56 GF Score
Price £3.74
GF Value £6.81
! 3 Warning Signs
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What is BH Macro Scaled Net Operating Assets?

BH Macro CHIX:BHMGL 56 Scaled Net Operating Assets is 0.94 as of Dec. 2025. GuruFocus rates CHIX:BHMGL with a GF Score™ of 56/100 and a GF Value™ of £6.81. 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.

BH Macro's operating assets for the quarter that ended in Dec. 2025 was £1,462.1 Mil. BH Macro's operating liabilities for the quarter that ended in Dec. 2025 was £5.7 Mil. BH Macro's Total Assets for the quarter that ended in Jun. 2025 was £1,545.6 Mil. Therefore, BH Macro's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.94.

CHIX:BHMGL
56GF Score
BH Macro Ltd CHIX:BHMGL
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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BH Macro 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.

BH Macro'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 )
=(1462.117-5.704)/1583.869
=0.92

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1485.563 - 23.446
=1462.117

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=5.704 - 0 - 0
=5.704

BH Macro'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 )
=(1462.117-5.704)/1545.615
=0.94

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1485.563 - 23.446
=1462.117

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=5.704 - 0 - 0
=5.704

* 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 0.94 mean?
BH Macro (CHIX:BHMGL) has a Scaled Net Operating Assets of 0.94 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 BH Macro and its competitors.
Is BH Macro's Scaled Net Operating Assets too high?
BH Macro's current Scaled Net Operating Assets is 0.94. Overall, BH Macro has a GF Score™ of 56/100, reflecting its overall financial health beyond just this single metric.
How does BH Macro's Scaled Net Operating Assets compare to BLK and BX?
BH Macro's Scaled Net Operating Assets of 0.94 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 BH Macro and its competitors. BH Macro's current Scaled Net Operating Assets is 0.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BH Macro stock overvalued right now?
BH Macro (CHIX:BHMGL) has a current Scaled Net Operating Assets of 0.94. The stock's GF Value™ is £6.81, compared to a current price of £3.74 — trading 45.2% below its estimated fair value. The current Scaled Net Operating Assets is 0.94. BH Macro's overall GF Score™ is 56/100 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 BH Macro (CHIX:BHMGL), the current Scaled Net Operating Assets is 0.94 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 BH Macro (CHIX:BHMGL) Overvalued in 2026?

Based on GuruFocus' analysis, BH Macro stock appears to be undervalued. The current stock price of £3.74 is trading 45.2% below its estimated GF Value™ of £6.81.

Key valuation signals for CHIX:BHMGL:

  • Scaled Net Operating Assets: 0.94
  • GF Value™: £6.81 vs. price of £3.74 (45.2% below fair value)
  • GF Score™: 56/100 with 3 warning signs

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

BH Macro Business Description

Other Exchanges BHMU:UKBHMG:UK
Address Trafalgar Court, Les Banques, P.O. Box 255, Saint Peter Port, GGY, GY1 3QL
BH Macro Ltd is a closed-ended investment company. Its investment objective is to generate long-term growth through active leveraged trading on a world-wide basis. As per the investment policy of the company it invests all of its assets in the master fund. The master fund is managed by company's investment manager. The master fund has the flexibility to invest in instruments such as debt securities, obligations, bank loans, listed and unlisted equities, other collective investment schemes, currencies, commodities, futures, options warrants, swaps, and other derivative instruments.
56GF Score

Get the complete analysis for CHIX:BHMGL

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

£3.74
Price
£6.81
GF Value