GBK Beteiligungen AG (HAM:GBQ) Scaled Net Operating Assets: 0.73 (As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HAM:GBQ GBK Beteiligungen AG HAM:GBQ
48 GF Score
Price €5.25
GF Value €0.64
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is GBK Beteiligungen AG Scaled Net Operating Assets?

GBK Beteiligungen AG HAM:GBQ +0.96% 48 Scaled Net Operating Assets is 0.73 as of Dec. 2025. GuruFocus rates HAM:GBQ with a GF Score™ of 48/100 and a GF Value™ of €0.64 (Significantly Overvalued). The stock has 5 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.

GBK Beteiligungen AG's operating assets for the quarter that ended in Dec. 2025 was €40.50 Mil. GBK Beteiligungen AG's operating liabilities for the quarter that ended in Dec. 2025 was €2.72 Mil. GBK Beteiligungen AG's Total Assets for the quarter that ended in Dec. 2024 was €51.74 Mil. Therefore, GBK Beteiligungen AG's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.73.


GBK Beteiligungen AG Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for GBK Beteiligungen AG'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.

GBK Beteiligungen AG Scaled Net Operating Assets Chart

GBK Beteiligungen AG 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 1.04 0.72 0.81 0.65 0.73

GBK Beteiligungen AG Semi-Annual Data
Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.04 0.72 0.81 0.65 0.73

HAM:GBQ vs BLK, BX, KKR: Scaled Net Operating Assets Comparison

For the Asset Management subindustry, GBK Beteiligungen AG'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.


GBK Beteiligungen AG Scaled Net Operating Assets vs Asset Management Industry

For the Asset Management industry and Financial Services sector, GBK Beteiligungen AG's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where GBK Beteiligungen AG's Scaled Net Operating Assets falls into.


HAM:GBQ
48GF Score
GBK Beteiligungen AG HAM:GBQ
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

GBK Beteiligungen AG 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.

GBK Beteiligungen AG'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 )
=(40.5-2.715)/51.74
=0.73

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=52.201 - 11.701
=40.5

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2.715 - 0 - 0
=2.715

GBK Beteiligungen AG'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: Dec. 2024 )
=(40.5-2.715)/51.74
=0.73

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=52.201 - 11.701
=40.5

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=2.715 - 0 - 0
=2.715

* 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 0.73 mean?
GBK Beteiligungen AG (HAM:GBQ) has a Scaled Net Operating Assets of 0.73 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 GBK Beteiligungen AG and its competitors.
Is GBK Beteiligungen AG's Scaled Net Operating Assets too high?
GBK Beteiligungen AG's current Scaled Net Operating Assets is 0.73. Overall, GBK Beteiligungen AG has a GF Score™ of 48/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does GBK Beteiligungen AG's Scaled Net Operating Assets compare to BLK and BX?
GBK Beteiligungen AG's Scaled Net Operating Assets of 0.73 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 GBK Beteiligungen AG and its competitors. GBK Beteiligungen AG's current Scaled Net Operating Assets is 0.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GBK Beteiligungen AG stock overvalued right now?
Based on GuruFocus' analysis, GBK Beteiligungen AG (HAM:GBQ) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.64, compared to a current price of €5.25 — trading 720.3% above its estimated fair value. The current Scaled Net Operating Assets is 0.73. GBK Beteiligungen AG's overall GF Score™ is 48/100 with 5 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 GBK Beteiligungen AG (HAM:GBQ), the current Scaled Net Operating Assets is 0.73 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 GBK Beteiligungen AG (HAM:GBQ) Overvalued in 2026?

Based on GuruFocus' analysis, GBK Beteiligungen AG stock appears to be overvalued. The current stock price of €5.25 is trading 720.3% above its estimated GF Value™ of €0.64. GuruFocus considers GBK Beteiligungen AG to be Significantly Overvalued.

Key valuation signals for HAM:GBQ:

  • Scaled Net Operating Assets: 0.73
  • GF Value™: €0.64 vs. price of €5.25 (720.3% above fair value)
  • GF Score™: 48/100 with 5 warning signs

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


GBK Beteiligungen AG Business Description

Other Exchanges GBQ:Germany
Address Guenther-Wagner-Allee 17, Hannover, DEU, 30177
GBK Beteiligungen AG is a investment company. The company provides capital for German companies.
48GF Score

Get the complete analysis for HAM:GBQ

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

€5.25
Price
€0.64
GF Value