The Hongkong and Shanghai Hotels (FRA:HSG) Scaled Net Operating Assets: 0.92 (As of Dec. 2025)


FRA:HSG The Hongkong and Shanghai Hotels Ltd FRA:HSG
48 GF Score
Price €0.57
GF Value €0.63
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is The Hongkong and Shanghai Hotels Scaled Net Operating Assets?

The Hongkong and Shanghai Hotels FRA:HSG +0.89% 48 Scaled Net Operating Assets is 0.92 as of Dec. 2025. GuruFocus rates FRA:HSG with a GF Score™ of 48/100 and a GF Value™ of €0.63 (Modestly Undervalued). The stock has 3 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.

The Hongkong and Shanghai Hotels's operating assets for the quarter that ended in Dec. 2025 was €5,958.6 Mil. The Hongkong and Shanghai Hotels's operating liabilities for the quarter that ended in Dec. 2025 was €303.7 Mil. The Hongkong and Shanghai Hotels's Total Assets for the quarter that ended in Jun. 2025 was €6,180.1 Mil. Therefore, The Hongkong and Shanghai Hotels's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.92.


The Hongkong and Shanghai Hotels Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for The Hongkong and Shanghai Hotels'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.

The Hongkong and Shanghai Hotels Scaled Net Operating Assets Chart

The Hongkong and Shanghai Hotels 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 1.05 1.03 0.93 0.91 0.85

The Hongkong and Shanghai Hotels Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.92 0.92 0.93 0.87 0.92

FRA:HSG vs MAR, HLT, H: Scaled Net Operating Assets Comparison

For the Lodging subindustry, The Hongkong and Shanghai Hotels'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.


The Hongkong and Shanghai Hotels Scaled Net Operating Assets vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, The Hongkong and Shanghai Hotels's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where The Hongkong and Shanghai Hotels's Scaled Net Operating Assets falls into.


FRA:HSG
48GF Score
The Hongkong and Shanghai Hotels Ltd FRA:HSG
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

The Hongkong and Shanghai Hotels 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.

The Hongkong and Shanghai Hotels'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 )
=(5958.617-303.699)/6655.785
=0.85

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6042.252 - 83.635
=5958.617

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2073.646 - 1146.855 - 623.092
=303.699

The Hongkong and Shanghai Hotels'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 )
=(5958.617-303.699)/6180.106
=0.92

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6042.252 - 83.635
=5958.617

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2073.646 - 1146.855 - 623.092
=303.699

* 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 0.92 mean?
The Hongkong and Shanghai Hotels (FRA:HSG) has a Scaled Net Operating Assets of 0.92 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 The Hongkong and Shanghai Hotels and its competitors.
Is The Hongkong and Shanghai Hotels' Scaled Net Operating Assets too high?
The Hongkong and Shanghai Hotels' current Scaled Net Operating Assets is 0.92. Overall, The Hongkong and Shanghai Hotels has a GF Score™ of 48/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does The Hongkong and Shanghai Hotels' Scaled Net Operating Assets compare to MAR and HLT?
The Hongkong and Shanghai Hotels' Scaled Net Operating Assets of 0.92 can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Scaled Net Operating Assets depends on the Travel & Leisure 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 The Hongkong and Shanghai Hotels and its competitors. The Hongkong and Shanghai Hotels's current Scaled Net Operating Assets is 0.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Hongkong and Shanghai Hotels stock overvalued right now?
Based on GuruFocus' analysis, The Hongkong and Shanghai Hotels (FRA:HSG) is currently considered Modestly Undervalued. The stock's GF Value™ is €0.63, compared to a current price of €0.57 — trading 10.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.92. The Hongkong and Shanghai Hotels' overall GF Score™ is 48/100 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 The Hongkong and Shanghai Hotels (FRA:HSG), the current Scaled Net Operating Assets is 0.92 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 The Hongkong and Shanghai Hotels (FRA:HSG) Overvalued in 2026?

Based on GuruFocus' analysis, The Hongkong and Shanghai Hotels stock appears to be undervalued. The current stock price of €0.57 is trading 10.3% below its estimated GF Value™ of €0.63. GuruFocus considers The Hongkong and Shanghai Hotels to be Modestly Undervalued.

Key valuation signals for FRA:HSG:

  • Scaled Net Operating Assets: 0.92
  • GF Value™: €0.63 vs. price of €0.57 (10.3% below fair value)
  • GF Score™: 48/100 with 3 warning signs

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


The Hongkong and Shanghai Hotels Business Description

Other Exchanges HKSHY:USA00045:Hong Kong
Address 2 Ice House Street, 8th Floor, St. George’s Building, Central, Hong Kong, HKG
The Hongkong and Shanghai Hotels Ltd is a luxury hospitality and real estate group. It owns and operates hotel properties under the Peninsula brand located in city centres across Asia, the U.S., and Europe. The company's assets comprise a small number of ultra-luxury hotels, real estate assets, and tourism assets, including The Peak Tram, one of Hong Kong's tourist attractions. The group's reportable segments are: Hotels, Commercial Properties, Peak Tram, Retail, and Others. Maximum revenue is generated from its Hotels segment, which includes revenue generated from operating hotels, leasing of commercial shopping arcades, and office premises located within the hotel buildings. Geographically, the group generates the majority of its revenue from Greater China.
48GF Score

Get the complete analysis for FRA:HSG

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

€0.57
Price
€0.63
GF Value