2020 Bulkers (FRA:0FF) Scaled Net Operating Assets: 0.13 (As of Mar. 2026)


FRA:0FF 2020 Bulkers Ltd FRA:0FF
60 GF Score
Price €0.28
GF Value €6.91
Valuation Significantly Undervalued
! 4 Warning Signs
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What is 2020 Bulkers Scaled Net Operating Assets?

2020 Bulkers FRA:0FF -1.33% 60 Scaled Net Operating Assets is 0.13 as of Mar. 2026. GuruFocus rates FRA:0FF with a GF Score™ of 60/100 and a GF Value™ of €6.91 (Significantly Undervalued). The stock has 4 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.

2020 Bulkers's operating assets for the quarter that ended in Mar. 2026 was €36.59 Mil. 2020 Bulkers's operating liabilities for the quarter that ended in Mar. 2026 was €5.71 Mil. 2020 Bulkers's Total Assets for the quarter that ended in Dec. 2025 was €230.75 Mil. Therefore, 2020 Bulkers's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.13.


2020 Bulkers Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for 2020 Bulkers'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.

2020 Bulkers Scaled Net Operating Assets Chart

2020 Bulkers 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 0.98 0.98 0.86 0.68 0.80

2020 Bulkers 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 0.89 0.86 0.90 0.90 0.13

2020 Bulkers Scaled Net Operating Assets Competitor Comparison

For the Marine Shipping subindustry, 2020 Bulkers'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.


2020 Bulkers Scaled Net Operating Assets vs Transportation Industry

For the Transportation industry and Industrials sector, 2020 Bulkers's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where 2020 Bulkers's Scaled Net Operating Assets falls into.


FRA:0FF
60GF Score
2020 Bulkers Ltd FRA:0FF
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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2020 Bulkers 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.

2020 Bulkers'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 )
=(211.878-9.479)/254.603
=0.79

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=230.751 - 18.873
=211.878

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=104.017 - 0 - 94.538
=9.479

2020 Bulkers'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 )
=(36.589-5.709)/230.751
=0.13

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=273.772 - 237.183
=36.589

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=21.192 - 0 - 15.483
=5.709

* 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 0.13 mean?
2020 Bulkers (FRA:0FF) has a Scaled Net Operating Assets of 0.13 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 2020 Bulkers and its competitors.
Is 2020 Bulkers' Scaled Net Operating Assets too high?
2020 Bulkers' current Scaled Net Operating Assets is 0.13. Overall, 2020 Bulkers has a GF Score™ of 60/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does 2020 Bulkers' Scaled Net Operating Assets compare to competitors?
2020 Bulkers' Scaled Net Operating Assets of 0.13 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 2020 Bulkers and its competitors. 2020 Bulkers's current Scaled Net Operating Assets is 0.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is 2020 Bulkers stock overvalued right now?
Based on GuruFocus' analysis, 2020 Bulkers (FRA:0FF) is currently considered Significantly Undervalued. The stock's GF Value™ is €6.91, compared to a current price of €0.28 — trading 95.9% below its estimated fair value. The current Scaled Net Operating Assets is 0.13. 2020 Bulkers' overall GF Score™ is 60/100 with 4 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 2020 Bulkers (FRA:0FF), the current Scaled Net Operating Assets is 0.13 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 2020 Bulkers (FRA:0FF) Overvalued in 2026?

Based on GuruFocus' analysis, 2020 Bulkers stock appears to be undervalued. The current stock price of €0.28 is trading 95.9% below its estimated GF Value™ of €6.91. GuruFocus considers 2020 Bulkers to be Significantly Undervalued.

Key valuation signals for FRA:0FF:

  • Scaled Net Operating Assets: 0.13
  • GF Value™: €6.91 vs. price of €0.28 (95.9% below fair value)
  • GF Score™: 60/100 with 4 warning signs

No single metric tells the full story. See the FRA:0FF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


2020 Bulkers Business Description

Address Tjuvholmen alle 3, 9th floor, Oslo, NOR, 0252
2020 Bulkers Ltd is an owner and operator of large dry bulk vessels. The company has eight Newcastlemax dry bulk vessels in operation.
60GF 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.

€0.28
Price
€6.91
GF Value