FEG Holdings (HKSE:01413) Scaled Net Operating Assets: 0.65 (As of Mar. 2026)

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.

HKSE:01413 FEG Holdings Corp Ltd HKSE:01413
43 GF Score
Price HK$0.21
GF Value HK$0.25
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is FEG Holdings Scaled Net Operating Assets?

FEG Holdings HKSE:01413 43 Scaled Net Operating Assets is 0.65 as of Mar. 2026. GuruFocus rates HKSE:01413 with a GF Score™ of 43/100 and a GF Value™ of HK$0.25 (Modestly Undervalued). The stock has 6 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.

FEG Holdings's operating assets for the quarter that ended in Mar. 2026 was HK$240.9 Mil. FEG Holdings's operating liabilities for the quarter that ended in Mar. 2026 was HK$61.5 Mil. FEG Holdings's Total Assets for the quarter that ended in Sep. 2025 was HK$275.2 Mil. Therefore, FEG Holdings's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.65.


FEG Holdings Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for FEG 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.

FEG Holdings Scaled Net Operating Assets Chart

FEG Holdings Annual Data
Trend Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only 0.81 0.73 0.93 0.53 0.60

FEG Holdings Semi-Annual Data
Mar18 Mar19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 0.83 0.78 0.51 0.69 0.65

HKSE:01413 vs PWR, FIX, EME: Scaled Net Operating Assets Comparison

For the Engineering & Construction subindustry, FEG 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.


FEG Holdings Scaled Net Operating Assets vs Construction Industry

For the Construction industry and Industrials sector, FEG Holdings's Scaled Net Operating Assets distribution charts can be found below:

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


HKSE:01413
43GF Score
FEG Holdings Corp Ltd HKSE:01413
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

FEG 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.

FEG Holdings's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(A: Mar. 2026 )
=(Operating Assets (A: Mar. 2026 )-Operating Liabilities (A: Mar. 2026 ))/Total Assets (A: Mar. 2025 )
=(240.86-61.496)/298.613
=0.60

where

Operating Assets(A: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=274.134 - 33.274
=240.86

Operating Liabilities(A: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=65.624 - 1.581 - 2.547
=61.496

FEG Holdings'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: Sep. 2025 )
=(240.86-61.496)/275.243
=0.65

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=274.134 - 33.274
=240.86

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=65.624 - 1.581 - 2.547
=61.496

* 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 0.65 mean?
FEG Holdings (HKSE:01413) has a Scaled Net Operating Assets of 0.65 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 FEG Holdings and its competitors.
Is FEG Holdings' Scaled Net Operating Assets too high?
FEG Holdings' current Scaled Net Operating Assets is 0.65. Overall, FEG Holdings has a GF Score™ of 43/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does FEG Holdings' Scaled Net Operating Assets compare to PWR and FIX?
FEG Holdings' Scaled Net Operating Assets of 0.65 can be compared against companies in the Construction 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 Construction company?
A good Scaled Net Operating Assets depends on the Construction 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 FEG Holdings and its competitors. FEG Holdings's current Scaled Net Operating Assets is 0.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FEG Holdings stock overvalued right now?
Based on GuruFocus' analysis, FEG Holdings (HKSE:01413) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$0.25, compared to a current price of HK$0.21 — trading 18% below its estimated fair value. The current Scaled Net Operating Assets is 0.65. FEG Holdings' overall GF Score™ is 43/100 with 6 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 FEG Holdings (HKSE:01413), the current Scaled Net Operating Assets is 0.65 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 FEG Holdings (HKSE:01413) Overvalued in 2026?

Based on GuruFocus' analysis, FEG Holdings stock appears to be undervalued. The current stock price of HK$0.21 is trading 18% below its estimated GF Value™ of HK$0.25. GuruFocus considers FEG Holdings to be Modestly Undervalued.

Key valuation signals for HKSE:01413:

  • Scaled Net Operating Assets: 0.65
  • GF Value™: HK$0.25 vs. price of HK$0.21 (18% below fair value)
  • GF Score™: 43/100 with 6 warning signs

No single metric tells the full story. See the HKSE:01413 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


FEG Holdings Business Description

Address 138 Queen's Road Central, Room 1801, 18th Floor, Wei Xiang Building, Hong Kong, HKG
FEG Holdings Corp Ltd is a foundation works contractor in Hong Kong. The foundation work of the company is mainly comprised of excavation and lateral support, as well as other related projects, including pile cap engineering, underground drainage engineering, and site leveling engineering. The group's operations are located in Hong Kong.
43GF Score

Get the complete analysis for HKSE:01413

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

HK$0.21
Price
HK$0.25
GF Value