FTEK (Fuel Tech) Scaled Net Operating Assets: 0.37 (As of Mar. 2026)


FTEK Fuel Tech Inc FTEK
57 GF Score
Price $2.21
GF Value $1.13
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Fuel Tech Scaled Net Operating Assets?

Fuel Tech FTEK -0.22% 57 Scaled Net Operating Assets is 0.37 as of Mar. 2026. GuruFocus rates FTEK with a GF Score™ of 57/100 and a GF Value™ of $1.13 (Significantly 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.

Fuel Tech's operating assets for the quarter that ended in Mar. 2026 was $22.91 Mil. Fuel Tech's operating liabilities for the quarter that ended in Mar. 2026 was $5.37 Mil. Fuel Tech's Total Assets for the quarter that ended in Dec. 2025 was $47.18 Mil. Therefore, Fuel Tech's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.37.

Fuel Tech Scaled Net Operating Assets Historical Data

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The historical data trend for Fuel Tech'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.

Fuel Tech Scaled Net Operating Assets Chart

Fuel Tech 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 0.35 0.38 0.29 0.47 0.32

Fuel Tech 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 0.42 0.39 0.34 0.33 0.37

FTEK vs BCHT, SCWO, ARQ: Scaled Net Operating Assets Comparison

For the Pollution & Treatment Controls subindustry, Fuel Tech'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.

Fuel Tech Scaled Net Operating Assets vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Fuel Tech's Scaled Net Operating Assets distribution charts can be found below:

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


FTEK
57GF Score
Fuel Tech Inc FTEK
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Fuel Tech 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.

Fuel Tech'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 )
=(22.298-6.667)/48.797
=0.32

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=47.179 - 24.881
=22.298

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=7.247 - 0.491 - 0.089
=6.667

Fuel Tech'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 )
=(22.908-5.374)/47.179
=0.37

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=44.487 - 21.579
=22.908

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=5.931 - 0.465 - 0.092
=5.374

* 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 0.37 mean?
Fuel Tech (FTEK) has a Scaled Net Operating Assets of 0.37 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 Fuel Tech and its competitors.
Is Fuel Tech's Scaled Net Operating Assets too high?
Fuel Tech's current Scaled Net Operating Assets is 0.37. Overall, Fuel Tech has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fuel Tech's Scaled Net Operating Assets compare to BCHT and SCWO?
Fuel Tech's Scaled Net Operating Assets of 0.37 can be compared against companies in the Industrial Products 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 Industrial Products company?
A good Scaled Net Operating Assets depends on the Industrial Products 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 Fuel Tech and its competitors. Fuel Tech's current Scaled Net Operating Assets is 0.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fuel Tech stock overvalued right now?
Based on GuruFocus' analysis, Fuel Tech (FTEK) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.13, compared to a current price of $2.21 — trading 95.6% above its estimated fair value. The current Scaled Net Operating Assets is 0.37. Fuel Tech's overall GF Score™ is 57/100 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 Fuel Tech (FTEK), the current Scaled Net Operating Assets is 0.37 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 Fuel Tech (FTEK) Overvalued in 2026?

Based on GuruFocus' analysis, Fuel Tech stock appears to be overvalued. The current stock price of $2.21 is trading 95.6% above its estimated GF Value™ of $1.13. GuruFocus considers Fuel Tech to be Significantly Overvalued.

Key valuation signals for FTEK:

  • Scaled Net Operating Assets: 0.37
  • GF Value™: $1.13 vs. price of $2.21 (95.6% above fair value)
  • GF Score™: 57/100 with 3 warning signs

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

Fuel Tech Business Description

Other Exchanges FUE1:Germany
Address 27601 Bella Vista Parkway, Warrenville, IL, USA, 60555-1617
Fuel Tech Inc is a technology provider of boiler optimization, efficiency improvement, and air pollution reduction to utility and industrial customers. The company operates in two segments, Air Pollution Control and Fuel Chem. The Air Pollution Control technology segment includes technologies to reduce NOx emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources. The Fuel Chem technology segment uses chemical processes in combination with Computational Fluid Dynamics and Chemical Kinetics Modeling for boiler modeling for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in furnaces and boilers through the addition of chemicals into the furnace using TIFI Targeted In-Furnace Injection technology.
57GF 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.

$2.21
Price
$1.13
GF Value