Victory Securities (Holdings) Co (HKSE:08540) Scaled Net Operating Assets: 0.34 (As of Dec. 2025)

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HKSE:08540 Victory Securities (Holdings) Co Ltd HKSE:08540
64 GF Score
Price HK$4.45
GF Value HK$8.55
Valuation Significantly Undervalued
! 1 Warning Sign
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What is Victory Securities (Holdings) Co Scaled Net Operating Assets?

Victory Securities (Holdings) Co HKSE:08540 -0.34% 64 Scaled Net Operating Assets is 0.34 as of Dec. 2025. GuruFocus rates HKSE:08540 with a GF Score™ of 64/100 and a GF Value™ of HK$8.55 (Significantly Undervalued). The stock has 1 warning sign investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Victory Securities (Holdings) Co's operating assets for the quarter that ended in Dec. 2025 was HK$422.6 Mil. Victory Securities (Holdings) Co's operating liabilities for the quarter that ended in Dec. 2025 was HK$181.9 Mil. Victory Securities (Holdings) Co's Total Assets for the quarter that ended in Jun. 2025 was HK$702.0 Mil. Therefore, Victory Securities (Holdings) Co's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.34.

HKSE:08540
64GF Score
Victory Securities (Holdings) Co Ltd HKSE:08540
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Victory Securities (Holdings) 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.

Victory Securities (Holdings) 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 )
=(422.583-181.883)/520.043
=0.46

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=515.434 - 92.851
=422.583

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=276.758 - 94.875 - 0
=181.883

Victory Securities (Holdings) 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 )
=(422.583-181.883)/702.012
=0.34

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=515.434 - 92.851
=422.583

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=276.758 - 94.875 - 0
=181.883

* 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 0.34 mean?
Victory Securities (Holdings) Co (HKSE:08540) has a Scaled Net Operating Assets of 0.34 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 Victory Securities (Holdings) Co and its competitors.
Is Victory Securities (Holdings) Co's Scaled Net Operating Assets too high?
Victory Securities (Holdings) Co's current Scaled Net Operating Assets is 0.34. Overall, Victory Securities (Holdings) Co has a GF Score™ of 64/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Victory Securities (Holdings) Co's Scaled Net Operating Assets compare to MS and GS?
Victory Securities (Holdings) Co's Scaled Net Operating Assets of 0.34 can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Scaled Net Operating Assets depends on the Capital Markets 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 Victory Securities (Holdings) Co and its competitors. Victory Securities (Holdings) Co's current Scaled Net Operating Assets is 0.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Victory Securities (Holdings) Co stock overvalued right now?
Based on GuruFocus' analysis, Victory Securities (Holdings) Co (HKSE:08540) is currently considered Significantly Undervalued. The stock's GF Value™ is HK$8.55, compared to a current price of HK$4.45 — trading 48% below its estimated fair value. The current Scaled Net Operating Assets is 0.34. Victory Securities (Holdings) Co's overall GF Score™ is 64/100 with 1 warning sign 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 Victory Securities (Holdings) Co (HKSE:08540), the current Scaled Net Operating Assets is 0.34 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 Victory Securities (Holdings) Co (HKSE:08540) Overvalued in 2026?

Based on GuruFocus' analysis, Victory Securities (Holdings) Co stock appears to be undervalued. The current stock price of HK$4.45 is trading 48% below its estimated GF Value™ of HK$8.55. GuruFocus considers Victory Securities (Holdings) Co to be Significantly Undervalued.

Key valuation signals for HKSE:08540:

  • Scaled Net Operating Assets: 0.34
  • GF Value™: HK$8.55 vs. price of HK$4.45 (48% below fair value)
  • GF Score™: 64/100 with 1 warning sign

No single metric tells the full story. See the HKSE:08540 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Victory Securities (Holdings) Co Business Description

Address No. 308 Des Voeux Road Central, 20th Floor, 308 Central Des Voeux, Sheung Wan, Hong Kong, HKG
Victory Securities (Holdings) Co Ltd is an investment holding company engaged in the businesses of securities futures insurance policies broking, placing and underwriting services and advising on securities services, financing services, asset management services, financial advisory services, and investment consultancy services in Hong Kong. The company has five operating segments: Securities/ futures broking services; Financing services; Asset management services; Insurance consultancy services, Financial advisory services, and Virtual asset services. It generates maximum revenue from the Securities/ futures broking services segment. The Group operates in Hong Kong and its revenue is derived from its operations in Hong Kong.
64GF Score

Get the complete analysis for HKSE:08540

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

HK$4.45
Price
HK$8.55
GF Value