Nykode Therapeutics AS (CHIX:NYKDO) Scaled Net Operating Assets: 0.37 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

CHIX:NYKDO Nykode Therapeutics AS CHIX:NYKDO
48 GF Score
Price kr18.69
GF Value kr42.15
! 1 Warning Sign
View Full Analysis

What is Nykode Therapeutics AS Scaled Net Operating Assets?

Nykode Therapeutics AS CHIX:NYKDO 48 Scaled Net Operating Assets is 0.37 as of Mar. 2026. GuruFocus rates CHIX:NYKDO with a GF Score™ of 48/100 and a GF Value™ of kr42.15. The stock has 1 warning sign investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Nykode Therapeutics AS's operating assets for the quarter that ended in Mar. 2026 was kr411.32 Mil. Nykode Therapeutics AS's operating liabilities for the quarter that ended in Mar. 2026 was kr38.86 Mil. Nykode Therapeutics AS's Total Assets for the quarter that ended in Dec. 2025 was kr1,010.24 Mil. Therefore, Nykode Therapeutics AS's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.37.


Nykode Therapeutics AS Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Nykode Therapeutics AS'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.

Nykode Therapeutics AS Scaled Net Operating Assets Chart

Nykode Therapeutics AS Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only -0.12 -0.18 0.07 0.13 0.20

Nykode Therapeutics AS 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 0.19 0.23 0.34 0.33 0.37

CHIX:NYKDO vs VRTX, REGN, ALNY: Scaled Net Operating Assets Comparison

For the Biotechnology subindustry, Nykode Therapeutics AS'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.


Nykode Therapeutics AS Scaled Net Operating Assets vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Nykode Therapeutics AS's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Nykode Therapeutics AS's Scaled Net Operating Assets falls into.


CHIX:NYKDO
48GF Score
Nykode Therapeutics AS CHIX:NYKDO
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nykode Therapeutics AS 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.

Nykode Therapeutics AS'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 )
=(405.226-59.307)/1722.118
=0.20

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1010.235 - 605.009
=405.226

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=85.08 - 13.139 - 12.634
=59.307

Nykode Therapeutics AS'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 )
=(411.321-38.857)/1010.235
=0.37

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=906.633 - 495.312
=411.321

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=61.38 - 9.948 - 12.575
=38.857

* 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 0.37 mean?
Nykode Therapeutics AS (CHIX:NYKDO) has a Scaled Net Operating Assets of 0.37 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 Nykode Therapeutics AS and its competitors.
Is Nykode Therapeutics AS's Scaled Net Operating Assets too high?
Nykode Therapeutics AS's current Scaled Net Operating Assets is 0.37. Overall, Nykode Therapeutics AS has a GF Score™ of 48/100, reflecting its overall financial health beyond just this single metric.
How does Nykode Therapeutics AS's Scaled Net Operating Assets compare to VRTX and REGN?
Nykode Therapeutics AS's Scaled Net Operating Assets of 0.37 can be compared against companies in the Biotechnology 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 Biotechnology company?
A good Scaled Net Operating Assets depends on the Biotechnology 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 Nykode Therapeutics AS and its competitors. Nykode Therapeutics AS's current Scaled Net Operating Assets is 0.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nykode Therapeutics AS stock overvalued right now?
Nykode Therapeutics AS (CHIX:NYKDO) has a current Scaled Net Operating Assets of 0.37. The stock's GF Value™ is kr42.15, compared to a current price of kr18.69 — trading 55.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.37. Nykode Therapeutics AS's overall GF Score™ is 48/100 with 1 warning sign 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 Nykode Therapeutics AS (CHIX:NYKDO), the current Scaled Net Operating Assets is 0.37 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 Nykode Therapeutics AS (CHIX:NYKDO) Overvalued in 2026?

Based on GuruFocus' analysis, Nykode Therapeutics AS stock appears to be undervalued. The current stock price of kr18.69 is trading 55.7% below its estimated GF Value™ of kr42.15.

Key valuation signals for CHIX:NYKDO:

  • Scaled Net Operating Assets: 0.37
  • GF Value™: kr42.15 vs. price of kr18.69 (55.7% below fair value)
  • GF Score™: 48/100 with 1 warning sign

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


Nykode Therapeutics AS Business Description

Address Gaustadalleen 21, Oslo Research Park, Oslo, NOR, 0349
Nykode Therapeutics AS is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immunotherapies. The company is developing individualized cancer neoantigen vaccines and is using the Vaccibody technology to generate therapeutics to treat cancers with a high unmet medical need using it's modular immunotherapy technology, specifically targeting antigens to Antigen Presenting Cells, which are essential for inducing rapid and long-lasting immune responses. It operates in United States of America.
48GF Score

Get the complete analysis for CHIX:NYKDO

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

kr18.69
Price
kr42.15
GF Value