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Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
SPIE's operating assets for the quarter that ended in Jun. 2026 was €10,796 Mil. SPIE's operating liabilities for the quarter that ended in Jun. 2026 was €5,740 Mil. SPIE's Total Assets for the quarter that ended in Dec. 2025 was €10,295 Mil. Therefore, SPIE's scaled net operating assets (SNOA) for the quarter that ended in Jun. 2026 was 0.49.
The historical data trend for SPIE'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.
FRA:4SP vs PWR, FIX, EME: Scaled Net Operating Assets Comparison
For the Engineering & Construction subindustry, SPIE'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.
SPIE Scaled Net Operating Assets vs Construction Industry
For the Construction industry and Industrials sector, SPIE's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where SPIE's Scaled Net Operating Assets falls into.
* 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?
SPIE (FRA:4SP) has a Scaled Net Operating Assets of 0.49 as of Jun. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on SPIE and its competitors.
Is SPIE's Scaled Net Operating Assets too high?
SPIE's current Scaled Net Operating Assets is 0.49. Overall, SPIE has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SPIE's Scaled Net Operating Assets compare to PWR and FIX?
SPIE's Scaled Net Operating Assets of 0.49 can be compared against companies in the Construction 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 Construction company?
A good Scaled Net Operating Assets depends on the Construction 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 SPIE and its competitors. SPIE'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 SPIE stock overvalued right now?
Based on GuruFocus' analysis, SPIE (FRA:4SP) is currently considered Modestly Overvalued. The stock's GF Value™ is €43.43, compared to a current price of €47.54 — trading 9.5% above its estimated fair value. The current Scaled Net Operating Assets is 0.49. SPIE's overall GF Score™ is 87/100 with 3 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 SPIE (FRA:4SP), the current Scaled Net Operating Assets is 0.49 as of Jun. 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 SPIE (FRA:4SP) Overvalued in 2026?
Based on GuruFocus' analysis, SPIE stock appears to be overvalued.
The current stock price of €47.54 is trading 9.5% above its estimated GF Value™ of €43.43.
GuruFocus considers SPIE to be Modestly Overvalued.
Key valuation signals for FRA:4SP:
Scaled Net Operating Assets: 0.49
GF Value™: €43.43 vs. price of €47.54 (9.5% above fair value)
No single metric tells the full story. See the FRA:4SP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SPIE SA is a European provider of multi-technical services in electrical, mechanical, and HVAC engineering and communication systems as well as specialized energy-related services. It helps its customers design, build, operate and maintain facilities that are energy-efficient and environmentally friendly. The group structures its activities around operating segments: France, North-Western Europe, Germany, Central Europe, and Global Services Energy. The majority of its revenue is derived from the Germany segment. It has a geographic presence in Europe, Africa, North, America, Asia-Pacific and Middle East.
87GF Score
Get the complete analysis for FRA:4SP
Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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