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Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
NetEase Cloud Music's operating assets for the quarter that ended in Dec. 2025 was HK$4,735 Mil. NetEase Cloud Music's operating liabilities for the quarter that ended in Dec. 2025 was HK$3,961 Mil. NetEase Cloud Music's Total Assets for the quarter that ended in Jun. 2025 was HK$16,710 Mil. Therefore, NetEase Cloud Music's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.05.
NetEase Cloud Music Scaled Net Operating Assets Related Terms
NetEase Cloud Music Scaled Net Operating Assets Historical Data
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The historical data trend for NetEase Cloud Music'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.
NetEase Cloud Music Scaled Net Operating Assets Chart
HKSE:09899 vs GOOGL, META, SPOT: Scaled Net Operating Assets Comparison
For the Internet Content & Information subindustry, NetEase Cloud Music'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.
NetEase Cloud Music Scaled Net Operating Assets vs Interactive Media Industry
For the Interactive Media industry and Communication Services sector, NetEase Cloud Music's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where NetEase Cloud Music's Scaled Net Operating Assets falls into.
* 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?
NetEase Cloud Music (HKSE:09899) 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 NetEase Cloud Music and its competitors.
Is NetEase Cloud Music's Scaled Net Operating Assets too high?
NetEase Cloud Music's current Scaled Net Operating Assets is 0.05. Overall, NetEase Cloud Music has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NetEase Cloud Music's Scaled Net Operating Assets compare to GOOGL and META?
NetEase Cloud Music's Scaled Net Operating Assets of 0.05 can be compared against companies in the Interactive Media 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 Interactive Media company?
A good Scaled Net Operating Assets depends on the Interactive Media 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 NetEase Cloud Music and its competitors. NetEase Cloud Music'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 NetEase Cloud Music stock overvalued right now?
Based on GuruFocus' analysis, NetEase Cloud Music (HKSE:09899) is currently considered Fairly Valued. The stock's GF Value™ is HK$107.58, compared to a current price of HK$115.90 — trading 7.7% above its estimated fair value. The current Scaled Net Operating Assets is 0.05. NetEase Cloud Music's overall GF Score™ is 72/100 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 NetEase Cloud Music (HKSE:09899), 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 NetEase Cloud Music (HKSE:09899) Overvalued in 2026?
Based on GuruFocus' analysis, NetEase Cloud Music stock appears to be overvalued.
The current stock price of HK$115.90 is trading 7.7% above its estimated GF Value™ of HK$107.58.
GuruFocus considers NetEase Cloud Music to be Fairly Valued.
Key valuation signals for HKSE:09899:
Scaled Net Operating Assets: 0.05
GF Value™: HK$107.58 vs. price of HK$115.90 (7.7% above fair value)
No single metric tells the full story. See the HKSE:09899 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AddressNo. 353 Benjing Avenue, Room 1201, Block A, Hangzhou International Expo Center, Qianjiang Century City, Xiaoshan District, Zhejiang Province, Hangzhou, CHN
NetEase Cloud Music is China's second-largest music streaming platform, founded in 2013 as a subsidiary of NetEase. NetEase remains the controlling shareholder with a 59.4% stake. The company is headquartered in Hangzhou.The platform's business model revolves around a core music streaming service sold on a subscription basis, paired with a live streaming service where users purchase virtual items and gift them to performers.
72GF Score
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