Industrial & Infrastructure Fund Investment (FRA:2ES) Scaled Net Operating Assets: 0.88 (As of Jan. 2026)


FRA:2ES Industrial & Infrastructure Fund Investment Corp FRA:2ES
77 GF Score
Price €775.00
GF Value €754.11
! 11 Warning Signs
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What is Industrial & Infrastructure Fund Investment Scaled Net Operating Assets?

Industrial & Infrastructure Fund Investment FRA:2ES +0.65% 77 Scaled Net Operating Assets is 0.88 as of Jan. 2026. GuruFocus rates FRA:2ES with a GF Score™ of 77/100 and a GF Value™ of €754.11. The stock has 11 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.

Industrial & Infrastructure Fund Investment's operating assets for the quarter that ended in Jan. 2026 was €2,967.8 Mil. Industrial & Infrastructure Fund Investment's operating liabilities for the quarter that ended in Jan. 2026 was €132.3 Mil. Industrial & Infrastructure Fund Investment's Total Assets for the quarter that ended in Jul. 2025 was €3,226.1 Mil. Therefore, Industrial & Infrastructure Fund Investment's scaled net operating assets (SNOA) for the quarter that ended in Jan. 2026 was 0.88.


Industrial & Infrastructure Fund Investment Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Industrial & Infrastructure Fund Investment'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.

Industrial & Infrastructure Fund Investment Scaled Net Operating Assets Chart

Industrial & Infrastructure Fund Investment Annual Data
Trend Dec16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.95 0.82 0.80 1.06 0.92

Industrial & Infrastructure Fund Investment Semi-Annual Data
Jun16 Dec16 Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jul23 Jan24 Jul24 Jan25 Jul25 Jan26
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 0.86 1.06 0.97 0.87 0.88

FRA:2ES vs PLD, PSA, EXR: Scaled Net Operating Assets Comparison

For the REIT - Industrial subindustry, Industrial & Infrastructure Fund Investment'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.


Industrial & Infrastructure Fund Investment Scaled Net Operating Assets vs REITs Industry

For the REITs industry and Real Estate sector, Industrial & Infrastructure Fund Investment's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Industrial & Infrastructure Fund Investment's Scaled Net Operating Assets falls into.


FRA:2ES
77GF Score
Industrial & Infrastructure Fund Investment Corp FRA:2ES
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Industrial & Infrastructure Fund Investment 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.

Industrial & Infrastructure Fund Investment's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Jul. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Jul. 2025 )
=(Operating Assets (A: Jul. 2025 )-Operating Liabilities (A: Jul. 2025 ))/Total Assets (A: Jul. 2024 )
=(3134.17-153.271)/3251.136
=0.92

where

Operating Assets(A: Jul. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=3226.092 - 91.922
=3134.17

Operating Liabilities(A: Jul. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1791.18 - 1472.565 - 165.344
=153.271

Industrial & Infrastructure Fund Investment's Scaled Net Operating Assets (SNOA) for the quarter that ended in Jan. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Jan. 2026 )
=(Operating Assets (Q: Jan. 2026 )-Operating Liabilities (Q: Jan. 2026 ))/Total Assets (Q: Jul. 2025 )
=(2967.778-132.285)/3226.092
=0.88

where

Operating Assets(Q: Jan. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=3075.838 - 108.06
=2967.778

Operating Liabilities(Q: Jan. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1730.698 - 1371.336 - 227.077
=132.285

* 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 0.88 mean?
Industrial & Infrastructure Fund Investment (FRA:2ES) has a Scaled Net Operating Assets of 0.88 as of Jan. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Industrial & Infrastructure Fund Investment and its competitors.
Is Industrial & Infrastructure Fund Investment's Scaled Net Operating Assets too high?
Industrial & Infrastructure Fund Investment's current Scaled Net Operating Assets is 0.88. Overall, Industrial & Infrastructure Fund Investment has a GF Score™ of 77/100, reflecting its overall financial health beyond just this single metric.
How does Industrial & Infrastructure Fund Investment's Scaled Net Operating Assets compare to PLD and PSA?
Industrial & Infrastructure Fund Investment's Scaled Net Operating Assets of 0.88 can be compared against companies in the REITs 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 REITs company?
A good Scaled Net Operating Assets depends on the REITs 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 Industrial & Infrastructure Fund Investment and its competitors. Industrial & Infrastructure Fund Investment's current Scaled Net Operating Assets is 0.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Industrial & Infrastructure Fund Investment stock overvalued right now?
Industrial & Infrastructure Fund Investment (FRA:2ES) has a current Scaled Net Operating Assets of 0.88. The stock's GF Value™ is €754.11, compared to a current price of €775.00 — trading 2.8% above its estimated fair value. The current Scaled Net Operating Assets is 0.88. Industrial & Infrastructure Fund Investment's overall GF Score™ is 77/100 with 11 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 Industrial & Infrastructure Fund Investment (FRA:2ES), the current Scaled Net Operating Assets is 0.88 as of Jan. 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 Industrial & Infrastructure Fund Investment (FRA:2ES) Overvalued in 2026?

Based on GuruFocus' analysis, Industrial & Infrastructure Fund Investment stock appears to be overvalued. The current stock price of €775.00 is trading 2.8% above its estimated GF Value™ of €754.11.

Key valuation signals for FRA:2ES:

  • Scaled Net Operating Assets: 0.88
  • GF Value™: €754.11 vs. price of €775.00 (2.8% above fair value)
  • GF Score™: 77/100 with 11 warning signs

No single metric tells the full story. See the FRA:2ES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Industrial & Infrastructure Fund Investment Business Description

Industry Real EstateREITs
Other Exchanges 3249:Japan
Address Tokyo Building 7-3, Marunouchi 2-chome, Chiyoda-ku, Tokyo, JPN, 100-6420
Industrial & Infrastructure Fund Investment Corp operates as a J-REIT specializing in industrial properties. The company focuses on industrial properties including logistic facilities, manufacturing and R&D facilities, and infrastructures.
77GF Score

Get the complete analysis for FRA:2ES

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

€775.00
Price
€754.11
GF Value