Energy Focus (FRA:FI4A) Scaled Net Operating Assets: 0.60 (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:FI4A Energy Focus Inc FRA:FI4A
38 GF Score
Price €1.81
GF Value €0.41
! 2 Warning Signs
View Full Analysis

What is Energy Focus Scaled Net Operating Assets?

Energy Focus FRA:FI4A 38 Scaled Net Operating Assets is 0.60 as of Mar. 2026. GuruFocus rates FRA:FI4A with a GF Score™ of 38/100 and a GF Value™ of €0.41. The stock has 2 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.

Energy Focus's operating assets for the quarter that ended in Mar. 2026 was €4.17 Mil. Energy Focus's operating liabilities for the quarter that ended in Mar. 2026 was €1.56 Mil. Energy Focus's Total Assets for the quarter that ended in Dec. 2025 was €4.36 Mil. Therefore, Energy Focus's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.60.


Energy Focus Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Energy Focus'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.

Energy Focus Scaled Net Operating Assets Chart

Energy Focus Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.61 0.41 0.39 0.28 0.52

Energy Focus 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 0.47 0.46 0.52 0.63 0.60

FRA:FI4A vs NTZ, MWYN, ATER: Scaled Net Operating Assets Comparison

For the Furnishings, Fixtures & Appliances subindustry, Energy Focus'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.


Energy Focus Scaled Net Operating Assets vs Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Energy Focus's Scaled Net Operating Assets distribution charts can be found below:

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


FRA:FI4A
38GF Score
Energy Focus Inc FRA:FI4A
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Energy Focus 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.

Energy Focus'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 )
=(3.454-0.668)/5.359
=0.52

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=4.363 - 0.909
=3.454

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=0.854 - 0.067 - 0.119
=0.668

Energy Focus'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 )
=(4.174-1.555)/4.363
=0.60

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=5.148 - 0.974
=4.174

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1.715 - 0.035 - 0.125
=1.555

* 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 0.60 mean?
Energy Focus (FRA:FI4A) has a Scaled Net Operating Assets of 0.60 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 Energy Focus and its competitors.
Is Energy Focus' Scaled Net Operating Assets too high?
Energy Focus' current Scaled Net Operating Assets is 0.60. Overall, Energy Focus has a GF Score™ of 38/100, reflecting its overall financial health beyond just this single metric.
How does Energy Focus' Scaled Net Operating Assets compare to NTZ and MWYN?
Energy Focus' Scaled Net Operating Assets of 0.60 can be compared against companies in the Furnishings, Fixtures & Appliances 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 Furnishings, Fixtures & Appliances company?
A good Scaled Net Operating Assets depends on the Furnishings, Fixtures & Appliances 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 Energy Focus and its competitors. Energy Focus's current Scaled Net Operating Assets is 0.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Energy Focus stock overvalued right now?
Energy Focus (FRA:FI4A) has a current Scaled Net Operating Assets of 0.60. The stock's GF Value™ is €0.41, compared to a current price of €1.81 — trading 341.5% above its estimated fair value. The current Scaled Net Operating Assets is 0.60. Energy Focus' overall GF Score™ is 38/100 with 2 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 Energy Focus (FRA:FI4A), the current Scaled Net Operating Assets is 0.60 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 Energy Focus (FRA:FI4A) Overvalued in 2026?

Based on GuruFocus' analysis, Energy Focus stock appears to be overvalued. The current stock price of €1.81 is trading 341.5% above its estimated GF Value™ of €0.41.

Key valuation signals for FRA:FI4A:

  • Scaled Net Operating Assets: 0.60
  • GF Value™: €0.41 vs. price of €1.81 (341.5% above fair value)
  • GF Score™: 38/100 with 2 warning signs

No single metric tells the full story. See the FRA:FI4A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Energy Focus Business Description

Other Exchanges EFOI:USA
Address 32000 Aurora Road, Suite B, Solon, OH, USA, 44139
Energy Focus Inc specializes in designing, developing, manufacturing, and selling energy-efficient lighting systems and controls. It provides LED lighting solutions for both commercial and military maritime markets (MMM). Its core products include robust lighting fixtures and lamps for navy and military applications, Energy Storage Systems (ESS), Uninterruptible Power Supply (UPS), and tubular LED (TLED) lighting products, including battery backup units as well as general commercial and maritime lighting fixtures. The company operates in a single business segment that includes the marketing and sale of commercial and MMM lighting products and controls. The company generates a majority of its revenue from the sales of military maritime products in the United States.
38GF Score

Get the complete analysis for FRA:FI4A

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

€1.81
Price
€0.41
GF Value