First United (FRA:FU3) Scaled Net Operating Assets: 0.07 (As of Mar. 2026)


FRA:FU3 First United Corp FRA:FU3
69 GF Score
Price €37.80
GF Value €31.68
! 5 Warning Signs
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What is First United Scaled Net Operating Assets?

First United FRA:FU3 -2.58% 69 Scaled Net Operating Assets is 0.07 as of Mar. 2026. GuruFocus rates FRA:FU3 with a GF Score™ of 69/100 and a GF Value™ of €31.68. 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.

First United's operating assets for the quarter that ended in Mar. 2026 was €1,671.23 Mil. First United's operating liabilities for the quarter that ended in Mar. 2026 was €1,541.55 Mil. First United's Total Assets for the quarter that ended in Dec. 2025 was €1,782.69 Mil. Therefore, First United's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.07.

FRA:FU3
69GF Score
First United Corp FRA:FU3
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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First United 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.

First United'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 )
=(1670.288-1525.85)/1884.236
=0.08

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1782.685 - 112.397
=1670.288

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1608.781 - 82.931 - 0
=1525.85

First United'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 )
=(1671.231-1541.547)/1782.685
=0.07

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1763.744 - 92.513
=1671.231

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1586.192 - 27.701 - 16.944
=1541.547

* 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 0.07 mean?
First United (FRA:FU3) has a Scaled Net Operating Assets of 0.07 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 First United and its competitors.
Is First United's Scaled Net Operating Assets too high?
First United's current Scaled Net Operating Assets is 0.07. Overall, First United has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does First United's Scaled Net Operating Assets compare to FNRN and NASB?
First United's Scaled Net Operating Assets of 0.07 can be compared against companies in the Banks 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 Banks company?
A good Scaled Net Operating Assets depends on the Banks 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 First United and its competitors. First United's current Scaled Net Operating Assets is 0.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First United stock overvalued right now?
First United (FRA:FU3) has a current Scaled Net Operating Assets of 0.07. The stock's GF Value™ is €31.68, compared to a current price of €37.80 — trading 19.3% above its estimated fair value. The current Scaled Net Operating Assets is 0.07. First United's overall GF Score™ is 69/100 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 First United (FRA:FU3), the current Scaled Net Operating Assets is 0.07 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 First United (FRA:FU3) Overvalued in 2026?

Based on GuruFocus' analysis, First United stock appears to be overvalued. The current stock price of €37.80 is trading 19.3% above its estimated GF Value™ of €31.68.

Key valuation signals for FRA:FU3:

  • Scaled Net Operating Assets: 0.07
  • GF Value™: €31.68 vs. price of €37.80 (19.3% above fair value)
  • GF Score™: 69/100 with 5 warning signs

No single metric tells the full story. See the FRA:FU3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

First United Business Description

Other Exchanges FUNC:USA
Address 19 South Second Street, Oakland, MD, USA, 21550-0009
First United Corp is active in the financial services domain. The scope of its offering includes checking, savings, money market deposit accounts and certificates of deposit, business loans, personal loans, mortgage loans and lines of credit extended to both individuals and businesses. The bank also provides residential real estate construction loans to builders and individuals for single-family dwellings. The company's reportable operating segments include community banking and wealth management. The company generates the majority of its revenue from the Community Banking segment, which is engaged in delivering financial products and services, including various loan and deposit products, to consumer, business, and not-for-profit customers.
69GF 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.

€37.80
Price
€31.68
GF Value