Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Naturgy Energy Group's operating assets for the quarter that ended in Dec. 2025 was €34,464 Mil. Naturgy Energy Group's operating liabilities for the quarter that ended in Dec. 2025 was €10,981 Mil. Naturgy Energy Group's Total Assets for the quarter that ended in Jun. 2025 was €36,507 Mil. Therefore, Naturgy Energy Group's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.64.
Naturgy Energy Group Scaled Net Operating Assets Related Terms
Naturgy Energy Group Scaled Net Operating Assets Historical Data
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The historical data trend for Naturgy Energy Group'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.
Naturgy Energy Group Scaled Net Operating Assets Chart
HAM:GAN vs ATO, NI, UGI: Scaled Net Operating Assets Comparison
For the Utilities - Regulated Gas subindustry, Naturgy Energy Group'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.
Naturgy Energy Group Scaled Net Operating Assets vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Naturgy Energy Group's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Naturgy Energy Group'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 0.64 mean?
Naturgy Energy Group (HAM:GAN) has a Scaled Net Operating Assets of 0.64 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 Naturgy Energy Group and its competitors.
Is Naturgy Energy Group's Scaled Net Operating Assets too high?
Naturgy Energy Group's current Scaled Net Operating Assets is 0.64. Overall, Naturgy Energy Group has a GF Score™ of 65/100, reflecting its overall financial health beyond just this single metric.
How does Naturgy Energy Group's Scaled Net Operating Assets compare to ATO and NI?
Naturgy Energy Group's Scaled Net Operating Assets of 0.64 can be compared against companies in the Utilities - Regulated 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 Utilities - Regulated company?
A good Scaled Net Operating Assets depends on the Utilities - Regulated 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 Naturgy Energy Group and its competitors. Naturgy Energy Group's current Scaled Net Operating Assets is 0.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Naturgy Energy Group stock overvalued right now?
Naturgy Energy Group (HAM:GAN) has a current Scaled Net Operating Assets of 0.64. The stock's GF Value™ is €22.19, compared to a current price of €27.36 — trading 23.3% above its estimated fair value. The current Scaled Net Operating Assets is 0.64. Naturgy Energy Group's overall GF Score™ is 65/100 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 Naturgy Energy Group (HAM:GAN), the current Scaled Net Operating Assets is 0.64 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 Naturgy Energy Group (HAM:GAN) Overvalued in 2026?
Based on GuruFocus' analysis, Naturgy Energy Group stock appears to be overvalued.
The current stock price of €27.36 is trading 23.3% above its estimated GF Value™ of €22.19.
Key valuation signals for HAM:GAN:
Scaled Net Operating Assets: 0.64
GF Value™: €22.19 vs. price of €27.36 (23.3% above fair value)
No single metric tells the full story. See the HAM:GAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Naturgy stems from the 2008 acquisition of Union Fenosa. The company operates across the gas value chain, from procurement to distribution and marketing. It owns and operates the largest gas distribution network in Spain, where it is also the leading retail gas supplier. The company additionally operates gas and electricity distribution networks across several Latin American countries. It owns 17.9 GW of generation capacity, including 7.3 GW of wind and solar.
65GF Score
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