True Partner Capital Holding (HKSE:08657) Scaled Net Operating Assets: 0.05 (As of Dec. 2025)

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HKSE:08657 True Partner Capital Holding Ltd HKSE:08657
39 GF Score
Price HK$0.31
GF Value HK$0.27
Valuation Modestly Overvalued
! 2 Warning Signs
View Full Analysis

What is True Partner Capital Holding Scaled Net Operating Assets?

True Partner Capital Holding HKSE:08657 +3.33% 39 Scaled Net Operating Assets is 0.05 as of Dec. 2025. GuruFocus rates HKSE:08657 with a GF Score™ of 39/100 and a GF Value™ of HK$0.27 (Modestly Overvalued). The stock has 2 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.

True Partner Capital Holding's operating assets for the quarter that ended in Dec. 2025 was HK$6.03 Mil. True Partner Capital Holding's operating liabilities for the quarter that ended in Dec. 2025 was HK$3.77 Mil. True Partner Capital Holding's Total Assets for the quarter that ended in Jun. 2025 was HK$42.73 Mil. Therefore, True Partner Capital Holding's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.05.


True Partner Capital Holding Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for True Partner Capital Holding'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.

True Partner Capital Holding Scaled Net Operating Assets Chart

True Partner Capital Holding Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial 0.14 0.19 0.18 0.13 0.04

True Partner Capital Holding Semi-Annual Data
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 0.22 0.15 0.18 0.18 0.05

HKSE:08657 vs BLK, BX, KKR: Scaled Net Operating Assets Comparison

For the Asset Management subindustry, True Partner Capital Holding'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.


True Partner Capital Holding Scaled Net Operating Assets vs Asset Management Industry

For the Asset Management industry and Financial Services sector, True Partner Capital Holding's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where True Partner Capital Holding's Scaled Net Operating Assets falls into.


HKSE:08657
39GF Score
True Partner Capital Holding Ltd HKSE:08657
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

True Partner Capital Holding 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.

True Partner Capital Holding'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 )
=(6.033-3.766)/53.224
=0.04

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=24.292 - 18.259
=6.033

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3.766 - 0 - 0
=3.766

True Partner Capital Holding'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 )
=(6.033-3.766)/42.728
=0.05

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=24.292 - 18.259
=6.033

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3.766 - 0 - 0
=3.766

* 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 0.05 mean?
True Partner Capital Holding (HKSE:08657) has a Scaled Net Operating Assets of 0.05 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 True Partner Capital Holding and its competitors.
Is True Partner Capital Holding's Scaled Net Operating Assets too high?
True Partner Capital Holding's current Scaled Net Operating Assets is 0.05. Overall, True Partner Capital Holding has a GF Score™ of 39/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does True Partner Capital Holding's Scaled Net Operating Assets compare to BLK and BX?
True Partner Capital Holding's Scaled Net Operating Assets of 0.05 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 True Partner Capital Holding and its competitors. True Partner Capital Holding's current Scaled Net Operating Assets is 0.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is True Partner Capital Holding stock overvalued right now?
Based on GuruFocus' analysis, True Partner Capital Holding (HKSE:08657) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$0.27, compared to a current price of HK$0.31 — trading 14.8% above its estimated fair value. The current Scaled Net Operating Assets is 0.05. True Partner Capital Holding's overall GF Score™ is 39/100 with 2 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 True Partner Capital Holding (HKSE:08657), the current Scaled Net Operating Assets is 0.05 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 True Partner Capital Holding (HKSE:08657) Overvalued in 2026?

Based on GuruFocus' analysis, True Partner Capital Holding stock appears to be overvalued. The current stock price of HK$0.31 is trading 14.8% above its estimated GF Value™ of HK$0.27. GuruFocus considers True Partner Capital Holding to be Modestly Overvalued.

Key valuation signals for HKSE:08657:

  • Scaled Net Operating Assets: 0.05
  • GF Value™: HK$0.27 vs. price of HK$0.31 (14.8% above fair value)
  • GF Score™: 39/100 with 2 warning signs

No single metric tells the full story. See the HKSE:08657 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


True Partner Capital Holding Business Description

Address The Gateway, Suite A123, 16th Floor, Tower 5, Harbour City, Kowloon, Hong Kong, HKG
True Partner Capital Holding Ltd is an investment holding company. Through its subsidiaries, it is principally engaged in the fund management business, derivative trading, and providing consultancy services. The Group trades in listed derivatives across different financial markets to generate uncorrelated returns for its clients and investors, with an emphasis on outperformance in times of market turmoil, and also provides specifically engineered solutions for qualified investors seeking to optimize the risk-reward profile of their portfolios. Its operating segments are: Asset management and consultancy services, which generate maximum revenue, and Derivative trading. Geographically, the Group generates maximum revenue from Hong Kong and the rest from Chicago.
39GF Score

Get the complete analysis for HKSE:08657

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

HK$0.31
Price
HK$0.27
GF Value