SL Gemini Energy Co (HKSE:02481) Scaled Net Operating Assets: 0.27 (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.

HKSE:02481 SL Gemini Energy Co Ltd HKSE:02481
83 GF Score
Price HK$2.55
GF Value HK$2.50
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is SL Gemini Energy Co Scaled Net Operating Assets?

SL Gemini Energy Co HKSE:02481 +1.19% 83 Scaled Net Operating Assets is 0.27 as of Dec. 2025. GuruFocus rates HKSE:02481 with a GF Score™ of 83/100 and a GF Value™ of HK$2.50 (Fairly Valued). 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.

SL Gemini Energy Co's operating assets for the quarter that ended in Dec. 2025 was HK$5,809 Mil. SL Gemini Energy Co's operating liabilities for the quarter that ended in Dec. 2025 was HK$4,200 Mil. SL Gemini Energy Co's Total Assets for the quarter that ended in Jun. 2025 was HK$6,033 Mil. Therefore, SL Gemini Energy Co's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.27.


SL Gemini Energy Co Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for SL Gemini Energy Co'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.

SL Gemini Energy Co Scaled Net Operating Assets Chart

SL Gemini Energy Co Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial 0.35 0.27 0.25 0.26 0.25

SL Gemini Energy Co Semi-Annual Data
Dec20 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 0.26 0.28 0.27 0.33 0.27

HKSE:02481 vs CEG, VST, NRG: Scaled Net Operating Assets Comparison

For the Utilities - Independent Power Producers subindustry, SL Gemini Energy Co'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.


SL Gemini Energy Co Scaled Net Operating Assets vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, SL Gemini Energy Co's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where SL Gemini Energy Co's Scaled Net Operating Assets falls into.


HKSE:02481
83GF Score
SL Gemini Energy Co Ltd HKSE:02481
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SL Gemini Energy Co 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.

SL Gemini Energy Co'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 )
=(5809.271-4199.88)/6370.445
=0.25

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6755.449 - 946.178
=5809.271

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4965.524 - 417.927 - 347.717
=4199.88

SL Gemini Energy Co'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 )
=(5809.271-4199.88)/6032.94
=0.27

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6755.449 - 946.178
=5809.271

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4965.524 - 417.927 - 347.717
=4199.88

* 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 0.27 mean?
SL Gemini Energy Co (HKSE:02481) has a Scaled Net Operating Assets of 0.27 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 SL Gemini Energy Co and its competitors.
Is SL Gemini Energy Co's Scaled Net Operating Assets too high?
SL Gemini Energy Co's current Scaled Net Operating Assets is 0.27. Overall, SL Gemini Energy Co has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SL Gemini Energy Co's Scaled Net Operating Assets compare to CEG and VST?
SL Gemini Energy Co's Scaled Net Operating Assets of 0.27 can be compared against companies in the Utilities - Independent Power Producers 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 - Independent Power Producers company?
A good Scaled Net Operating Assets depends on the Utilities - Independent Power Producers 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 SL Gemini Energy Co and its competitors. SL Gemini Energy Co's current Scaled Net Operating Assets is 0.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SL Gemini Energy Co stock overvalued right now?
Based on GuruFocus' analysis, SL Gemini Energy Co (HKSE:02481) is currently considered Fairly Valued. The stock's GF Value™ is HK$2.50, compared to a current price of HK$2.55 — trading 2% above its estimated fair value. The current Scaled Net Operating Assets is 0.27. SL Gemini Energy Co's overall GF Score™ is 83/100 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 SL Gemini Energy Co (HKSE:02481), the current Scaled Net Operating Assets is 0.27 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 SL Gemini Energy Co (HKSE:02481) Overvalued in 2026?

Based on GuruFocus' analysis, SL Gemini Energy Co stock appears to be overvalued. The current stock price of HK$2.55 is trading 2% above its estimated GF Value™ of HK$2.50. GuruFocus considers SL Gemini Energy Co to be Fairly Valued.

Key valuation signals for HKSE:02481:

  • Scaled Net Operating Assets: 0.27
  • GF Value™: HK$2.50 vs. price of HK$2.55 (2% above fair value)
  • GF Score™: 83/100 with 3 warning signs

No single metric tells the full story. See the HKSE:02481 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SL Gemini Energy Co Business Description

Address No. 15 Shuangliang Road, Ligang Street, Room 202, 2nd Floor, Jiangsu Province, Jiangyin, CHN
SL Gemini Energy Co Ltd is engaged in clean energy and combined energy heating in China. Its activities include clean energy heating projects involving renewable and new energy sources, as well as technologies such as combined heat and power, waste heat recovery, and geothermal heating. The company develops and applies integrated energy and heating technologies across multiple regions in China.
83GF Score

Get the complete analysis for HKSE:02481

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

HK$2.55
Price
HK$2.50
GF Value