HOKCF (Hong Kong and China Gas Co) Scaled Net Operating Assets: 0.77 (As of Dec. 2025)


HOKCF Hong Kong and China Gas Co Ltd HOKCF
52 GF Score
Price $0.90
GF Value $0.84
Valuation Fairly Valued
! 7 Warning Signs
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What is Hong Kong and China Gas Co Scaled Net Operating Assets?

Hong Kong and China Gas Co HOKCF 52 Scaled Net Operating Assets is 0.77 as of Dec. 2025. GuruFocus rates HOKCF with a GF Score™ of 52/100 and a GF Value™ of $0.84 (Fairly Valued). The stock has 7 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.

Hong Kong and China Gas Co's operating assets for the quarter that ended in Dec. 2025 was $19,991 Mil. Hong Kong and China Gas Co's operating liabilities for the quarter that ended in Dec. 2025 was $4,005 Mil. Hong Kong and China Gas Co's Total Assets for the quarter that ended in Jun. 2025 was $20,694 Mil. Therefore, Hong Kong and China Gas Co's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.77.


Hong Kong and China Gas Co Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Hong Kong and China Gas 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.

Hong Kong and China Gas Co Scaled Net Operating Assets Chart

Hong Kong and China Gas Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.84 0.73 0.70 0.74 0.79

Hong Kong and China Gas Co Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.73 0.73 0.75 0.76 0.77

HOKCF vs ATO, NI: Scaled Net Operating Assets Comparison

For the Utilities - Regulated Gas subindustry, Hong Kong and China Gas 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.


Hong Kong and China Gas Co Scaled Net Operating Assets vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Hong Kong and China Gas Co's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Hong Kong and China Gas Co's Scaled Net Operating Assets falls into.


HOKCF
52GF Score
Hong Kong and China Gas Co Ltd HOKCF
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Hong Kong and China Gas 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.

Hong Kong and China Gas 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 )
=(19990.798-4005.18)/20360.28
=0.79

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=21020.345 - 1029.547
=19990.798

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=11845.286 - 5619.409 - 2220.697
=4005.18

Hong Kong and China Gas 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 )
=(19990.798-4005.18)/20693.742
=0.77

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=21020.345 - 1029.547
=19990.798

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=11845.286 - 5619.409 - 2220.697
=4005.18

* 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 0.77 mean?
Hong Kong and China Gas Co (HOKCF) has a Scaled Net Operating Assets of 0.77 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 Hong Kong and China Gas Co and its competitors.
Is Hong Kong and China Gas Co's Scaled Net Operating Assets too high?
Hong Kong and China Gas Co's current Scaled Net Operating Assets is 0.77. Overall, Hong Kong and China Gas Co has a GF Score™ of 52/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hong Kong and China Gas Co's Scaled Net Operating Assets compare to ATO and NI?
Hong Kong and China Gas Co's Scaled Net Operating Assets of 0.77 can be compared against companies in the Utilities - Regulated 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 - Regulated company?
A good Scaled Net Operating Assets depends on the Utilities - Regulated 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 Hong Kong and China Gas Co and its competitors. Hong Kong and China Gas Co's current Scaled Net Operating Assets is 0.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hong Kong and China Gas Co stock overvalued right now?
Based on GuruFocus' analysis, Hong Kong and China Gas Co (HOKCF) is currently considered Fairly Valued. The stock's GF Value™ is $0.84, compared to a current price of $0.90 — trading 7.5% above its estimated fair value. The current Scaled Net Operating Assets is 0.77. Hong Kong and China Gas Co's overall GF Score™ is 52/100 with 7 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 Hong Kong and China Gas Co (HOKCF), the current Scaled Net Operating Assets is 0.77 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 Hong Kong and China Gas Co (HOKCF) Overvalued in 2026?

Based on GuruFocus' analysis, Hong Kong and China Gas Co stock appears to be overvalued. The current stock price of $0.90 is trading 7.5% above its estimated GF Value™ of $0.84. GuruFocus considers Hong Kong and China Gas Co to be Fairly Valued.

Key valuation signals for HOKCF:

  • Scaled Net Operating Assets: 0.77
  • GF Value™: $0.84 vs. price of $0.90 (7.5% above fair value)
  • GF Score™: 52/100 with 7 warning signs

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


Hong Kong and China Gas Co Business Description

Address 363 Java Road, 23rd Floor, North Point, Hong Kong, HKG
Hong Kong and China Gas Co Ltd, is the oldest public utility company in Hong Kong. The company's core business comprises the production and distribution of town gas in Hong Kong, with a monopoly on distribution and retail. The company is also investing in water, upstream gas, and new energies. The Group's principal activities are the production, distribution, and marketing of gas and related products or services, water supply and waste treatment, renewable energy businesses, extended businesses, and fuels businesses (Green Fuels) in Hong Kong and the Chinese mainland. The company operates in three segments: Gas, water and waste treatment, renewable energy, extended businesses, and related businesses, Green Fuels, and Property.
52GF Score

Get the complete analysis for HOKCF

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

$0.90
Price
$0.84
GF Value