SF Real Estate Investment Trust (FRA:8ET) Scaled Net Operating Assets: 0.85 (As of Dec. 2025)


FRA:8ET SF Real Estate Investment Trust FRA:8ET
34 GF Score
Price €0.26
GF Value €0.27
Valuation Fairly Valued
! 5 Warning Signs
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What is SF Real Estate Investment Trust Scaled Net Operating Assets?

SF Real Estate Investment Trust FRA:8ET +0.78% 34 Scaled Net Operating Assets is 0.85 as of Dec. 2025. GuruFocus rates FRA:8ET with a GF Score™ of 34/100 and a GF Value™ of €0.27 (Fairly Valued). The stock has 5 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.

SF Real Estate Investment Trust's operating assets for the quarter that ended in Dec. 2025 was €689.54 Mil. SF Real Estate Investment Trust's operating liabilities for the quarter that ended in Dec. 2025 was €83.21 Mil. SF Real Estate Investment Trust's Total Assets for the quarter that ended in Jun. 2025 was €712.02 Mil. Therefore, SF Real Estate Investment Trust's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.85.


SF Real Estate Investment Trust Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for SF Real Estate Investment Trust'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.

SF Real Estate Investment Trust Scaled Net Operating Assets Chart

SF Real Estate Investment Trust Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial 1.01 1.01 0.82 0.82 0.71

SF Real Estate Investment Trust Semi-Annual Data
Dec18 Dec19 Dec20 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.85 0.86 0.83 0.72 0.85

FRA:8ET vs PLD, PSA, EXR: Scaled Net Operating Assets Comparison

For the REIT - Industrial subindustry, SF Real Estate Investment Trust'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.


SF Real Estate Investment Trust Scaled Net Operating Assets vs REITs Industry

For the REITs industry and Real Estate sector, SF Real Estate Investment Trust's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where SF Real Estate Investment Trust's Scaled Net Operating Assets falls into.


FRA:8ET
34GF Score
SF Real Estate Investment Trust FRA:8ET
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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SF Real Estate Investment Trust 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.

SF Real Estate Investment Trust'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 )
=(689.542-83.205)/857.782
=0.71

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=703.695 - 14.153
=689.542

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=354.35 - 266.715 - 4.43
=83.205

SF Real Estate Investment Trust's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Dec. 2025 )
=(Operating Assets (Q: Dec. 2025 )-Operating Liabilities (Q: Dec. 2025 ))/Total Assets (Q: Jun. 2025 )
=(689.542-83.205)/712.021
=0.85

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=703.695 - 14.153
=689.542

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=354.35 - 266.715 - 4.43
=83.205

* 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 0.85 mean?
SF Real Estate Investment Trust (FRA:8ET) has a Scaled Net Operating Assets of 0.85 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on SF Real Estate Investment Trust and its competitors.
Is SF Real Estate Investment Trust's Scaled Net Operating Assets too high?
SF Real Estate Investment Trust's current Scaled Net Operating Assets is 0.85. Overall, SF Real Estate Investment Trust has a GF Score™ of 34/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SF Real Estate Investment Trust's Scaled Net Operating Assets compare to PLD and PSA?
SF Real Estate Investment Trust's Scaled Net Operating Assets of 0.85 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 SF Real Estate Investment Trust and its competitors. SF Real Estate Investment Trust's current Scaled Net Operating Assets is 0.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SF Real Estate Investment Trust stock overvalued right now?
Based on GuruFocus' analysis, SF Real Estate Investment Trust (FRA:8ET) is currently considered Fairly Valued. The stock's GF Value™ is €0.27, compared to a current price of €0.26 — trading 3.8% below its estimated fair value. The current Scaled Net Operating Assets is 0.85. SF Real Estate Investment Trust's overall GF Score™ is 34/100 with 5 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 SF Real Estate Investment Trust (FRA:8ET), the current Scaled Net Operating Assets is 0.85 as of Dec. 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.

Is SF Real Estate Investment Trust (FRA:8ET) Overvalued in 2026?

Based on GuruFocus' analysis, SF Real Estate Investment Trust stock appears to be undervalued. The current stock price of €0.26 is trading 3.8% below its estimated GF Value™ of €0.27. GuruFocus considers SF Real Estate Investment Trust to be Fairly Valued.

Key valuation signals for FRA:8ET:

  • Scaled Net Operating Assets: 0.85
  • GF Value™: €0.27 vs. price of €0.26 (3.8% below fair value)
  • GF Score™: 34/100 with 5 warning signs

No single metric tells the full story. See the FRA:8ET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SF Real Estate Investment Trust Business Description

Industry Real EstateREITs
Other Exchanges 02191:Hong Kong
Address 111 Leighton Road, Room 2002, 20th Floor, Lee Garden Six, Causeway Bay, Hong Kong, HKG
SF Real Estate Investment Trust is an investment holding company. It is engaged in property investments in Hong Kong, and in Foshan, Wuhu, and Changsha of the People's Republic of China. The Group holds one property company in Hong Kong and three property companies in Mainland China. It has two reportable segments of its business, Hong Kong and Mainland China. Key revenue is generated from Hong Kong.
34GF 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.

€0.26
Price
€0.27
GF Value