Ryanair Holdings (CHIX:RYAI) Scaled Net Operating Assets: 0.50 (As of Mar. 2026)


CHIX:RYAI Ryanair Holdings PLC CHIX:RYAI
89 GF Score
Price €25.78
GF Value €24.61
Valuation Fairly Valued
! 1 Warning Sign
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What is Ryanair Holdings Scaled Net Operating Assets?

Ryanair Holdings CHIX:RYAI 89 Scaled Net Operating Assets is 0.50 as of Mar. 2026. GuruFocus rates CHIX:RYAI with a GF Score™ of 89/100 and a GF Value™ of €24.61 (Fairly Valued). 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.

Ryanair Holdings's operating assets for the quarter that ended in Mar. 2026 was €16,202 Mil. Ryanair Holdings's operating liabilities for the quarter that ended in Mar. 2026 was €8,155 Mil. Ryanair Holdings's Total Assets for the quarter that ended in Dec. 2025 was €16,044 Mil. Therefore, Ryanair Holdings's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.50.


Ryanair Holdings Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Ryanair Holdings'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.

Ryanair Holdings Scaled Net Operating Assets Chart

Ryanair Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.57 0.34 0.38 0.34 0.46

Ryanair Holdings 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 0.35 0.31 0.41 0.48 0.50

CHIX:RYAI vs DAL, UAL, LUV: Scaled Net Operating Assets Comparison

For the Airlines subindustry, Ryanair Holdings'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.


Ryanair Holdings Scaled Net Operating Assets vs Transportation Industry

For the Transportation industry and Industrials sector, Ryanair Holdings's Scaled Net Operating Assets distribution charts can be found below:

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


CHIX:RYAI
89GF Score
Ryanair Holdings PLC CHIX:RYAI
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Ryanair Holdings 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.

Ryanair Holdings's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(A: Mar. 2026 )
=(Operating Assets (A: Mar. 2026 )-Operating Liabilities (A: Mar. 2026 ))/Total Assets (A: Mar. 2025 )
=(16201.9-8154.8)/17507
=0.46

where

Operating Assets(A: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=19747.7 - 3545.8
=16201.9

Operating Liabilities(A: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=9646.3 - 252.9 - 1238.6
=8154.8

Ryanair Holdings'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 )
=(16201.9-8154.8)/16044
=0.50

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=19747.7 - 3545.8
=16201.9

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=9646.3 - 252.9 - 1238.6
=8154.8

* 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 0.50 mean?
Ryanair Holdings (CHIX:RYAI) has a Scaled Net Operating Assets of 0.50 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 Ryanair Holdings and its competitors.
Is Ryanair Holdings' Scaled Net Operating Assets too high?
Ryanair Holdings' current Scaled Net Operating Assets is 0.50. Overall, Ryanair Holdings has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ryanair Holdings' Scaled Net Operating Assets compare to DAL and UAL?
Ryanair Holdings' Scaled Net Operating Assets of 0.50 can be compared against companies in the Transportation 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 Transportation company?
A good Scaled Net Operating Assets depends on the Transportation 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 Ryanair Holdings and its competitors. Ryanair Holdings's current Scaled Net Operating Assets is 0.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ryanair Holdings stock overvalued right now?
Based on GuruFocus' analysis, Ryanair Holdings (CHIX:RYAI) is currently considered Fairly Valued. The stock's GF Value™ is €24.61, compared to a current price of €25.78 — trading 4.8% above its estimated fair value. The current Scaled Net Operating Assets is 0.50. Ryanair Holdings' overall GF Score™ is 89/100 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 Ryanair Holdings (CHIX:RYAI), the current Scaled Net Operating Assets is 0.50 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 Ryanair Holdings (CHIX:RYAI) Overvalued in 2026?

Based on GuruFocus' analysis, Ryanair Holdings stock appears to be overvalued. The current stock price of €25.78 is trading 4.8% above its estimated GF Value™ of €24.61. GuruFocus considers Ryanair Holdings to be Fairly Valued.

Key valuation signals for CHIX:RYAI:

  • Scaled Net Operating Assets: 0.50
  • GF Value™: €24.61 vs. price of €25.78 (4.8% above fair value)
  • GF Score™: 89/100 with 1 warning sign

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


Ryanair Holdings Business Description

Address Airside Business Park, Swords, County Dublin, Dublin, IRL, K67 NY94
Ryanair is Europe's largest low-cost airline, known for its extensive network and highly efficient business model. Operating over 3,600 flights daily across 240-plus destinations in 40 countries, Ryanair has built its success on offering affordable air travel while maintaining tight control over costs. The airline primarily uses Boeing 737 aircraft, including the newer 737 8-200 "Gamechanger" variant, which simplifies operations and reduces expenses. Ryanair focuses on high passenger volume, ancillary revenue, and operational efficiency, ensuring its position as a leading airline in Europe.
89GF Score

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

€25.78
Price
€24.61
GF Value