FSRCY (First Resources) Scaled Net Operating Assets: 0.85 (As of Dec. 2025)

What is First Resources Scaled Net Operating Assets?

First Resources FSRCY 80 Scaled Net Operating Assets is 0.85 as of Dec. 2025. GuruFocus rates FSRCY with a GF Score™ of 80/100 and a GF Value™ of $189.83 (Modestly Overvalued). 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.

First Resources's operating assets for the quarter that ended in Dec. 2025 was $2,603 Mil. First Resources's operating liabilities for the quarter that ended in Dec. 2025 was $270 Mil. First Resources's Total Assets for the quarter that ended in Jun. 2025 was $2,748 Mil. Therefore, First Resources's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.85.

First Resources Scaled Net Operating Assets Related Terms

First Resources Scaled Net Operating Assets Historical Data

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The historical data trend for First Resources'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.

First Resources Scaled Net Operating Assets Chart

First Resources Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Scaled Net Operating Assets

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0.73

0.67

0.83

0.93

1.20

First Resources 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															0.85	0.86	0.94	1.20	0.85

FSRCY vs KHC, GIS: Scaled Net Operating Assets Comparison

For the Packaged Foods subindustry, First Resources'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.

First Resources Scaled Net Operating Assets vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, First Resources's Scaled Net Operating Assets distribution charts can be found below:

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

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First Resources Ltd FSRCY

Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.

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First Resources 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 Resources'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 )
=	(2603.156	-	270.497)	/	1951.82
=	1.20

where

	Operating Assets		(A: Dec. 2025 )
=	Total Assets	-	Cash, Cash Equivalents, Marketable Securities
=	2892.558	-	289.402
=	2603.156

	Operating Liabilities		(A: Dec. 2025 )
=	Total Liabilities	-	Long-Term Debt & Capital Lease Obligation	-	Short-Term Debt & Capital Lease Obligation
=	1224.928	-	857.619	-	96.812
=	270.497

First Resources'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 )
=	(2603.156	-	270.497)	/	2747.873
=	0.85

where

	Operating Assets		(Q: Dec. 2025 )
=	Total Assets	-	Cash, Cash Equivalents, Marketable Securities
=	2892.558	-	289.402
=	2603.156

	Operating Liabilities		(Q: Dec. 2025 )
=	Total Liabilities	-	Long-Term Debt & Capital Lease Obligation	-	Short-Term Debt & Capital Lease Obligation
=	1224.928	-	857.619	-	96.812
=	270.497

Frequently Asked Questions Learn more about Scaled Net Operating Assets →

What does a Scaled Net Operating Assets of 0.85 mean?

First Resources (FSRCY) has a Scaled Net Operating Assets of 0.85 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 First Resources and its competitors.

Is First Resources' Scaled Net Operating Assets too high?

First Resources' current Scaled Net Operating Assets is 0.85. Overall, First Resources has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does First Resources' Scaled Net Operating Assets compare to KHC and GIS?

First Resources' Scaled Net Operating Assets of 0.85 can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?

A good Scaled Net Operating Assets depends on the Consumer Packaged Goods 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 Resources and its competitors. First Resources's current Scaled Net Operating Assets is 0.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is First Resources stock overvalued right now?

Based on GuruFocus' analysis, First Resources (FSRCY) is currently considered Modestly Overvalued. The stock's GF Value™ is $189.83, compared to a current price of $238.46 — trading 25.6% above its estimated fair value. The current Scaled Net Operating Assets is 0.85. First Resources' overall GF Score™ is 80/100 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 First Resources (FSRCY), the current Scaled Net Operating Assets is 0.85 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 First Resources (FSRCY) Overvalued in 2026?

Based on GuruFocus' analysis, First Resources stock appears to be overvalued. The current stock price of $238.46 is trading 25.6% above its estimated GF Value™ of $189.83. GuruFocus considers First Resources to be Modestly Overvalued.

Key valuation signals for FSRCY:

Scaled Net Operating Assets: 0.85
GF Value™: $189.83 vs. price of $238.46 (25.6% above fair value)
GF Score™: 80/100 with 3 warning signs

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

First Resources Business Description

Industry Consumer Defensive Consumer Packaged Goods

Comparable Companies SGX:F99 SGX:Q01 SGX:5JS SGX:MV4 SGX:Y03 SGX:D03 SGX:BQD SGX:42W SGX:OTS SGX:LGH XSWX:NESN XPAR:BN BOG:NUTRESA TSE:2802 SHSE:603288 NSE:NESTLEIND KHC SHSE:600887 SZSE:300999 GIS

Other Exchanges EB5:Singapore 5F1:Germany

Address 7 Temasek Boulevard, No. 24-01, Suntec Tower One, Singapore, SGP, 038987

Website https://www.first-resources.com

First Resources Ltd manages hectares of oil palm plantations located in Indonesia and mills fresh fruit bunches into crude palm oil and palm kernel. In addition, the group also processes crude palm oil and palm kernel into higher-value palm-based products such as refined, bleached, and deodorized olein and biodiesel. The operating segment of the company is Plantations, Palm Oil Mills & Refinery and Processing. The plantations and palm oil mills segment is principally involved in the cultivation and maintenance of oil palm plantations and the operation of palm oil mills. Refinery and processing segment markets and sells processed palm-based products produced from the refinery, fractionation and biodiesel plants, and other downstream processing facilities.

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$238.46

Price

$189.83

GF Value

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