DLHC (DLH Holdings) Scaled Net Operating Assets: 0.90 (As of Mar. 2026)


DLHC DLH Holdings Corp DLHC
74 GF Score
Price $5.25
GF Value $5.48
Valuation Fairly Valued
! 7 Warning Signs
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What is DLH Holdings Scaled Net Operating Assets?

DLH Holdings DLHC -0.94% 74 Scaled Net Operating Assets is 0.90 as of Mar. 2026. GuruFocus rates DLHC with a GF Score™ of 74/100 and a GF Value™ of $5.48 (Fairly Valued). The stock has 7 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.

DLH Holdings's operating assets for the quarter that ended in Mar. 2026 was $276.6 Mil. DLH Holdings's operating liabilities for the quarter that ended in Mar. 2026 was $20.9 Mil. DLH Holdings's Total Assets for the quarter that ended in Dec. 2025 was $283.5 Mil. Therefore, DLH Holdings's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.90.


DLH Holdings Scaled Net Operating Assets Historical Data

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The historical data trend for DLH 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.

DLH Holdings Scaled Net Operating Assets Chart

DLH Holdings Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.59 0.66 1.74 0.81 0.82

DLH 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 0.85 0.88 0.86 0.90 0.90

DLHC vs TISI, ANPA, WFCF: Scaled Net Operating Assets Comparison

For the Specialty Business Services subindustry, DLH 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.


DLH Holdings Scaled Net Operating Assets vs Business Services Industry

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

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


DLHC
74GF Score
DLH Holdings Corp DLHC
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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DLH 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.

DLH Holdings's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Sep. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Sep. 2025 )
=(Operating Assets (A: Sep. 2025 )-Operating Liabilities (A: Sep. 2025 ))/Total Assets (A: Sep. 2024 )
=(290.538-32.732)/314.381
=0.82

where

Operating Assets(A: Sep. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=290.663 - 0.125
=290.538

Operating Liabilities(A: Sep. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=177.705 - 133.988 - 10.985
=32.732

DLH 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 )
=(276.581-20.864)/283.508
=0.90

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=276.712 - 0.131
=276.581

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=166.442 - 123.106 - 22.472
=20.864

* 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 0.90 mean?
DLH Holdings (DLHC) has a Scaled Net Operating Assets of 0.90 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 DLH Holdings and its competitors.
Is DLH Holdings' Scaled Net Operating Assets too high?
DLH Holdings' current Scaled Net Operating Assets is 0.90. Overall, DLH Holdings has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does DLH Holdings' Scaled Net Operating Assets compare to TISI and ANPA?
DLH Holdings' Scaled Net Operating Assets of 0.90 can be compared against companies in the Business Services 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 Business Services company?
A good Scaled Net Operating Assets depends on the Business Services 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 DLH Holdings and its competitors. DLH Holdings's current Scaled Net Operating Assets is 0.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DLH Holdings stock overvalued right now?
Based on GuruFocus' analysis, DLH Holdings (DLHC) is currently considered Fairly Valued. The stock's GF Value™ is $5.48, compared to a current price of $5.25 — trading 4.2% below its estimated fair value. The current Scaled Net Operating Assets is 0.90. DLH Holdings' overall GF Score™ is 74/100 with 7 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 DLH Holdings (DLHC), the current Scaled Net Operating Assets is 0.90 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 DLH Holdings (DLHC) Overvalued in 2026?

Based on GuruFocus' analysis, DLH Holdings stock appears to be undervalued. The current stock price of $5.25 is trading 4.2% below its estimated GF Value™ of $5.48. GuruFocus considers DLH Holdings to be Fairly Valued.

Key valuation signals for DLHC:

  • Scaled Net Operating Assets: 0.90
  • GF Value™: $5.48 vs. price of $5.25 (4.2% below fair value)
  • GF Score™: 74/100 with 7 warning signs

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


DLH Holdings Business Description

Other Exchanges TS8A:Germany
Address 3565 Piedmont Road, Building 3, Suite 700, Atlanta, GA, USA, 30305
DLH Holdings Corp delivers health and readiness solutions for federal government customers through digital transformation and cyber security, science research and development, and systems engineering and integration. It provides technology-enabled business process, program management, and digital transformation solutions to U.S. government agencies, focusing on large-scale, technology-powered health and defense initiatives for agencies including HHS, VA, DoD, and their sub-agencies. Its revenues come from technology-enabled business process outsourcing, program management solutions, and public health research and analytics under time-and-materials, cost-reimbursable, and firm-fixed-price contracts.
74GF Score

Get the complete analysis for DLHC

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

$5.25
Price
$5.48
GF Value