FNCSF (North American Financial 15 Split) Scaled Net Operating Assets: 0.49 (As of Nov. 2025)


FNCSF North American Financial 15 Split Corp FNCSF
36 GF Score
Price $8.26
! 7 Warning Signs
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What is North American Financial 15 Split Scaled Net Operating Assets?

North American Financial 15 Split FNCSF +0.44% 36 Scaled Net Operating Assets is 0.49 as of Nov. 2025. GuruFocus rates FNCSF with a GF Score™ of 36/100. 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.

North American Financial 15 Split's operating assets for the quarter that ended in Nov. 2025 was $791.2 Mil. North American Financial 15 Split's operating liabilities for the quarter that ended in Nov. 2025 was $436.2 Mil. North American Financial 15 Split's Total Assets for the quarter that ended in May. 2025 was $725.2 Mil. Therefore, North American Financial 15 Split's scaled net operating assets (SNOA) for the quarter that ended in Nov. 2025 was 0.49.

FNCSF
36GF Score
North American Financial 15 Split Corp FNCSF
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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North American Financial 15 Split 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.

North American Financial 15 Split'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 )
=(791.188-436.162)/781.897
=0.45

where

Operating Assets(A: Nov. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=856.816 - 65.628
=791.188

Operating Liabilities(A: Nov. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=436.162 - 0 - 0
=436.162

North American Financial 15 Split's Scaled Net Operating Assets (SNOA) for the quarter that ended in Nov. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Nov. 2025 )
=(Operating Assets (Q: Nov. 2025 )-Operating Liabilities (Q: Nov. 2025 ))/Total Assets (Q: May. 2025 )
=(791.188-436.162)/725.181
=0.49

where

Operating Assets(Q: Nov. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=856.816 - 65.628
=791.188

Operating Liabilities(Q: Nov. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=436.162 - 0 - 0
=436.162

* 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 0.49 mean?
North American Financial 15 Split (FNCSF) has a Scaled Net Operating Assets of 0.49 as of Nov. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on North American Financial 15 Split and its competitors.
Is North American Financial 15 Split's Scaled Net Operating Assets too high?
North American Financial 15 Split's current Scaled Net Operating Assets is 0.49. Overall, North American Financial 15 Split has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.
How does North American Financial 15 Split's Scaled Net Operating Assets compare to BLK and BX?
North American Financial 15 Split's Scaled Net Operating Assets of 0.49 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 North American Financial 15 Split and its competitors. North American Financial 15 Split's current Scaled Net Operating Assets is 0.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is North American Financial 15 Split stock overvalued right now?
North American Financial 15 Split (FNCSF) has a current Scaled Net Operating Assets of 0.49. The current Scaled Net Operating Assets is 0.49. North American Financial 15 Split's overall GF Score™ is 36/100 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 North American Financial 15 Split (FNCSF), the current Scaled Net Operating Assets is 0.49 as of Nov. 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.

North American Financial 15 Split Business Description

Address 200 Front Street West, Suite 2510, P.O. Box 51, Toronto, ON, CAN, M5V 3K2
North American Financial 15 Split Corp is a mutual fund corporation. It invests in an actively managed portfolio of common shares comprised of core large-capitalization Canadian and United States financial services companies. It also invests in equity securities of issuers. The company's investment objective is to provide holders of Preferred Shares with cumulative preferential monthly cash dividends and to provide holders of Class A shares with regular monthly cash distributions.
36GF 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.

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