Mainland Headwear Holdings (HKSE:01100) Scaled Net Operating Assets: 0.64 (As of Dec. 2025)

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HKSE:01100 Mainland Headwear Holdings Ltd HKSE:01100
91 GF Score
Price HK$1.46
GF Value HK$1.80
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Mainland Headwear Holdings Scaled Net Operating Assets?

Mainland Headwear Holdings HKSE:01100 91 Scaled Net Operating Assets is 0.64 as of Dec. 2025. GuruFocus rates HKSE:01100 with a GF Score™ of 91/100 and a GF Value™ of HK$1.80 (Modestly Undervalued). 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.

Mainland Headwear Holdings's operating assets for the quarter that ended in Dec. 2025 was HK$1,780 Mil. Mainland Headwear Holdings's operating liabilities for the quarter that ended in Dec. 2025 was HK$525 Mil. Mainland Headwear Holdings's Total Assets for the quarter that ended in Jun. 2025 was HK$1,962 Mil. Therefore, Mainland Headwear Holdings's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.64.


Mainland Headwear Holdings Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Mainland Headwear Holdings'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.

Mainland Headwear Holdings Scaled Net Operating Assets Chart

Mainland Headwear Holdings 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 0.70 0.66 0.53 0.69 0.65

Mainland Headwear Holdings 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 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 0.56 0.66 0.69 0.63 0.64

HKSE:01100 vs NKE, DECK, ONON: Scaled Net Operating Assets Comparison

For the Footwear & Accessories subindustry, Mainland Headwear Holdings'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.


Mainland Headwear Holdings Scaled Net Operating Assets vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Mainland Headwear Holdings's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Mainland Headwear Holdings's Scaled Net Operating Assets falls into.


HKSE:01100
91GF Score
Mainland Headwear Holdings Ltd HKSE:01100
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mainland Headwear Holdings 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.

Mainland Headwear Holdings'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 )
=(1780.326-524.731)/1944.866
=0.65

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1997.767 - 217.441
=1780.326

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=713.723 - 31.286 - 157.706
=524.731

Mainland Headwear Holdings'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 )
=(1780.326-524.731)/1961.637
=0.64

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1997.767 - 217.441
=1780.326

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=713.723 - 31.286 - 157.706
=524.731

* 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?
Mainland Headwear Holdings (HKSE:01100) 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 Mainland Headwear Holdings and its competitors.
Is Mainland Headwear Holdings' Scaled Net Operating Assets too high?
Mainland Headwear Holdings' current Scaled Net Operating Assets is 0.64. Overall, Mainland Headwear Holdings has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mainland Headwear Holdings' Scaled Net Operating Assets compare to NKE and DECK?
Mainland Headwear Holdings' Scaled Net Operating Assets of 0.64 can be compared against companies in the Manufacturing - Apparel & Accessories 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 Manufacturing - Apparel & Accessories company?
A good Scaled Net Operating Assets depends on the Manufacturing - Apparel & Accessories 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 Mainland Headwear Holdings and its competitors. Mainland Headwear Holdings'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 Mainland Headwear Holdings stock overvalued right now?
Based on GuruFocus' analysis, Mainland Headwear Holdings (HKSE:01100) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$1.80, compared to a current price of HK$1.46 — trading 18.9% below its estimated fair value. The current Scaled Net Operating Assets is 0.64. Mainland Headwear Holdings' overall GF Score™ is 91/100 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 Mainland Headwear Holdings (HKSE:01100), 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 Mainland Headwear Holdings (HKSE:01100) Overvalued in 2026?

Based on GuruFocus' analysis, Mainland Headwear Holdings stock appears to be undervalued. The current stock price of HK$1.46 is trading 18.9% below its estimated GF Value™ of HK$1.80. GuruFocus considers Mainland Headwear Holdings to be Modestly Undervalued.

Key valuation signals for HKSE:01100:

  • Scaled Net Operating Assets: 0.64
  • GF Value™: HK$1.80 vs. price of HK$1.46 (18.9% below fair value)
  • GF Score™: 91/100 with 3 warning signs

No single metric tells the full story. See the HKSE:01100 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Mainland Headwear Holdings Business Description

Address 18 Sheung Yuet Road, Rooms 2301-2305, 23rd Floor, CTF Life Tower, Kowloon Bay, Kowloon, Hong Kong, HKG
Mainland Headwear Holdings Ltd is an investment holding company. The group is mainly engaged in the design, manufacture, and retail of quality casual headwear. The firm operates in two segments including Manufacturing and Trading. In the Manufacturing segment, it manufactures headwear products for sale to its Trading and Retail Business as well as to external customers. The trading segment includes trading and distribution of headwear, apparel, small leather goods, bags and accessories. The firm sells its products in overseas countries with the U.S. as the main market; followed by the European market. The key revenue is derived from the Manufacturing segment.
91GF Score

Get the complete analysis for HKSE:01100

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

HK$1.46
Price
HK$1.80
GF Value