Nanhua Futures Co (FRA:8OR) Scaled Net Operating Assets: -0.59 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:8OR Nanhua Futures Co Ltd FRA:8OR
52 GF Score
Price €0.62
GF Value €0.12
! 1 Warning Sign
View Full Analysis

What is Nanhua Futures Co Scaled Net Operating Assets?

Nanhua Futures Co FRA:8OR -1.59% 52 Scaled Net Operating Assets is -0.59 as of Mar. 2026. GuruFocus rates FRA:8OR with a GF Score™ of 52/100 and a GF Value™ of €0.12. The stock has 1 warning sign investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Nanhua Futures Co's operating assets for the quarter that ended in Mar. 2026 was €4,223.3 Mil. Nanhua Futures Co's operating liabilities for the quarter that ended in Mar. 2026 was €8,922.3 Mil. Nanhua Futures Co's Total Assets for the quarter that ended in Dec. 2025 was €7,938.7 Mil. Therefore, Nanhua Futures Co's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was -0.59.

FRA:8OR
52GF Score
Nanhua Futures Co Ltd FRA:8OR
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nanhua Futures Co 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.

Nanhua Futures Co'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 )
=(3044.464-7118.298)/6409.349
=-0.64

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=7938.669 - 4894.205
=3044.464

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=7258.953 - 140.655 - 0
=7118.298

Nanhua Futures Co'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 )
=(4223.255-8922.321)/7938.669
=-0.59

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=9804.715 - 5581.46
=4223.255

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=9080.823 - 158.502 - 0
=8922.321

* 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 -0.59 mean?
Nanhua Futures Co (FRA:8OR) has a Scaled Net Operating Assets of -0.59 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 Nanhua Futures Co and its competitors.
Is Nanhua Futures Co's Scaled Net Operating Assets too high?
Nanhua Futures Co's current Scaled Net Operating Assets is -0.59. Overall, Nanhua Futures Co has a GF Score™ of 52/100, reflecting its overall financial health beyond just this single metric.
How does Nanhua Futures Co's Scaled Net Operating Assets compare to MS and GS?
Nanhua Futures Co's Scaled Net Operating Assets of -0.59 can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Scaled Net Operating Assets depends on the Capital Markets 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 Nanhua Futures Co and its competitors. Nanhua Futures Co's current Scaled Net Operating Assets is -0.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nanhua Futures Co stock overvalued right now?
Nanhua Futures Co (FRA:8OR) has a current Scaled Net Operating Assets of -0.59. The stock's GF Value™ is €0.12, compared to a current price of €0.62 — trading 416.7% above its estimated fair value. The current Scaled Net Operating Assets is -0.59. Nanhua Futures Co's overall GF Score™ is 52/100 with 1 warning sign 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 Nanhua Futures Co (FRA:8OR), the current Scaled Net Operating Assets is -0.59 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 Nanhua Futures Co (FRA:8OR) Overvalued in 2026?

Based on GuruFocus' analysis, Nanhua Futures Co stock appears to be overvalued. The current stock price of €0.62 is trading 416.7% above its estimated GF Value™ of €0.12.

Key valuation signals for FRA:8OR:

  • Scaled Net Operating Assets: -0.59
  • GF Value™: €0.12 vs. price of €0.62 (416.7% above fair value)
  • GF Score™: 52/100 with 1 warning sign

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

Nanhua Futures Co Business Description

Other Exchanges 02691:Hong Kong603093:China
Address Hengdian Building, Room 301, Room 401, Room 501, Room 701, Room 901, Room 1001, Room 1101, Room 1201, Shangcheng District, Hangzhou, CHN, 310000
Nanhua Futures Co Ltd is a China based company engaged in the various financial activities. The company is mainly engaged in commodity futures brokerage, financial futures brokerage, futures investment consulting, asset management business, and securities investment fund sales agency business.
52GF Score

Get the complete analysis for FRA:8OR

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

€0.62
Price
€0.12
GF Value