H & M Hennes & Mauritz AB (CHIX:HMBS) Scaled Net Operating Assets: 0.44 (As of May. 2026)


CHIX:HMBS H & M Hennes & Mauritz AB CHIX:HMBS
74 GF Score
Price kr166.48
GF Value kr155.45
Valuation Fairly Valued
! 5 Warning Signs
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What is H & M Hennes & Mauritz AB Scaled Net Operating Assets?

H & M Hennes & Mauritz AB CHIX:HMBS +0.24% 74 Scaled Net Operating Assets is 0.44 as of May. 2026. GuruFocus rates CHIX:HMBS with a GF Score™ of 74/100 and a GF Value™ of kr155.45 (Fairly Valued). The stock has 5 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.

H & M Hennes & Mauritz AB's operating assets for the quarter that ended in May. 2026 was kr147,187 Mil. H & M Hennes & Mauritz AB's operating liabilities for the quarter that ended in May. 2026 was kr75,596 Mil. H & M Hennes & Mauritz AB's Total Assets for the quarter that ended in Feb. 2026 was kr164,092 Mil. Therefore, H & M Hennes & Mauritz AB's scaled net operating assets (SNOA) for the quarter that ended in May. 2026 was 0.44.


H & M Hennes & Mauritz AB Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for H & M Hennes & Mauritz AB'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.

H & M Hennes & Mauritz AB Scaled Net Operating Assets Chart

H & M Hennes & Mauritz AB Annual Data
Trend Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.57 0.57 0.54 0.58 0.55

H & M Hennes & Mauritz AB Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 0.43 0.45 0.58 0.47 0.44

CHIX:HMBS vs RL, LEVI, VFC: Scaled Net Operating Assets Comparison

For the Apparel Manufacturing subindustry, H & M Hennes & Mauritz AB'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.


H & M Hennes & Mauritz AB Scaled Net Operating Assets vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, H & M Hennes & Mauritz AB's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where H & M Hennes & Mauritz AB's Scaled Net Operating Assets falls into.


CHIX:HMBS
74GF Score
H & M Hennes & Mauritz AB CHIX:HMBS
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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H & M Hennes & Mauritz AB 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.

H & M Hennes & Mauritz AB's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Nov. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Nov. 2025 )
=(Operating Assets (A: Nov. 2025 )-Operating Liabilities (A: Nov. 2025 ))/Total Assets (A: Nov. 2024 )
=(149365-49779)/180214
=0.55

where

Operating Assets(A: Nov. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=170273 - 20908
=149365

Operating Liabilities(A: Nov. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=127326 - 63233 - 14314
=49779

H & M Hennes & Mauritz AB's Scaled Net Operating Assets (SNOA) for the quarter that ended in May. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: May. 2026 )
=(Operating Assets (Q: May. 2026 )-Operating Liabilities (Q: May. 2026 ))/Total Assets (Q: Feb. 2026 )
=(147187-75596)/164092
=0.44

where

Operating Assets(Q: May. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=165884 - 18697
=147187

Operating Liabilities(Q: May. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=131960 - 44598 - 11766
=75596

* 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 0.44 mean?
H & M Hennes & Mauritz AB (CHIX:HMBS) has a Scaled Net Operating Assets of 0.44 as of May. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on H & M Hennes & Mauritz AB and its competitors.
Is H & M Hennes & Mauritz AB's Scaled Net Operating Assets too high?
H & M Hennes & Mauritz AB's current Scaled Net Operating Assets is 0.44. Overall, H & M Hennes & Mauritz AB has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does H & M Hennes & Mauritz AB's Scaled Net Operating Assets compare to RL and LEVI?
H & M Hennes & Mauritz AB's Scaled Net Operating Assets of 0.44 can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?
A good Scaled Net Operating Assets depends on the Manufacturing - Apparel & Accessories 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 H & M Hennes & Mauritz AB and its competitors. H & M Hennes & Mauritz AB's current Scaled Net Operating Assets is 0.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is H & M Hennes & Mauritz AB stock overvalued right now?
Based on GuruFocus' analysis, H & M Hennes & Mauritz AB (CHIX:HMBS) is currently considered Fairly Valued. The stock's GF Value™ is kr155.45, compared to a current price of kr166.48 — trading 7.1% above its estimated fair value. The current Scaled Net Operating Assets is 0.44. H & M Hennes & Mauritz AB's overall GF Score™ is 74/100 with 5 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 H & M Hennes & Mauritz AB (CHIX:HMBS), the current Scaled Net Operating Assets is 0.44 as of May. 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 H & M Hennes & Mauritz AB (CHIX:HMBS) Overvalued in 2026?

Based on GuruFocus' analysis, H & M Hennes & Mauritz AB stock appears to be overvalued. The current stock price of kr166.48 is trading 7.1% above its estimated GF Value™ of kr155.45. GuruFocus considers H & M Hennes & Mauritz AB to be Fairly Valued.

Key valuation signals for CHIX:HMBS:

  • Scaled Net Operating Assets: 0.44
  • GF Value™: kr155.45 vs. price of kr166.48 (7.1% above fair value)
  • GF Score™: 74/100 with 5 warning signs

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


H & M Hennes & Mauritz AB Business Description

Address Master Samuelsgatan 46A, Stockholm, SWE, SE-106 38
The H&M Group is a global multi-brand fashion conglomerate founded in 1947. Its flagship brand, H&M, generates the majority of the group's revenue, while ARKET, COS, and the secondhand platform Sellpy represent key sources of future growth. Geographically, 34% of group revenues are generated in Western Europe, followed by North and South America at 23%, and both Southern Europe and Asia, Oceania, and Africa at 13% each. The Nordic region accounts for approximately 9% of total sales.The company operates 4,101 stores (3,660 attributable to H&M brand) across 81 markets worldwide, the majority of which are leased. Online sales contributed slightly above 30% of total group revenue in financial 2025 .
74GF Score

Get the complete analysis for CHIX:HMBS

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

kr166.48
Price
kr155.45
GF Value