Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Ninety One's operating assets for the quarter that ended in Mar. 2026 was €875.3 Mil. Ninety One's operating liabilities for the quarter that ended in Mar. 2026 was €16,226.7 Mil. Ninety One's Total Assets for the quarter that ended in Sep. 2025 was €15,706.9 Mil. Therefore, Ninety One's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was -0.98.
Ninety One Scaled Net Operating Assets Related Terms
Ninety One Scaled Net Operating Assets Historical Data
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The historical data trend for Ninety One'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.
FRA:L91 vs BLK, BX, KKR: Scaled Net Operating Assets Comparison
For the Asset Management subindustry, Ninety One'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.
Ninety One Scaled Net Operating Assets vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Ninety One's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Ninety One's Scaled Net Operating Assets falls into.
* 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 -0.98 mean?
Ninety One (FRA:L91) has a Scaled Net Operating Assets of -0.98 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 Ninety One and its competitors.
Is Ninety One's Scaled Net Operating Assets too high?
Ninety One's current Scaled Net Operating Assets is -0.98. Overall, Ninety One has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Ninety One's Scaled Net Operating Assets compare to BLK and BX?
Ninety One's Scaled Net Operating Assets of -0.98 can be compared against companies in the Asset Management 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 an Asset Management company?
A good Scaled Net Operating Assets depends on the Asset Management 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 Ninety One and its competitors. Ninety One's current Scaled Net Operating Assets is -0.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ninety One stock overvalued right now?
Ninety One (FRA:L91) has a current Scaled Net Operating Assets of -0.98. The stock's GF Value™ is €2.12, compared to a current price of €2.22 — trading 4.7% above its estimated fair value. The current Scaled Net Operating Assets is -0.98. Ninety One's overall GF Score™ is 74/100 with 7 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 Ninety One (FRA:L91), the current Scaled Net Operating Assets is -0.98 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 Ninety One (FRA:L91) Overvalued in 2026?
Based on GuruFocus' analysis, Ninety One stock appears to be overvalued.
The current stock price of €2.22 is trading 4.7% above its estimated GF Value™ of €2.12.
Key valuation signals for FRA:L91:
Scaled Net Operating Assets: -0.98
GF Value™: €2.12 vs. price of €2.22 (4.7% above fair value)
No single metric tells the full story. See the FRA:L91 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ninety One Ltd is an asset manager. The company provides a range of differentiated strategies managed by its specialist investment teams, providing access to a diverse range of asset classes and regions. It serves its client base via five regional teams namely Africa, the United Kingdom, Asia Pacific, the Americas and Europe and across two distribution channels Institutional and Advisor. Institutional clients include private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations and central banks, while Advisor clients include large retail groups, wealth managers, private banks and intermediaries serving individual investors.
74GF 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.
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