HOVR (New Horizon Aircraft) Scaled Net Operating Assets: -0.22 (As of Feb. 2026)


HOVR New Horizon Aircraft Ltd HOVR
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What is New Horizon Aircraft Scaled Net Operating Assets?

New Horizon Aircraft HOVR +2.34% 14 Scaled Net Operating Assets is -0.22 as of Feb. 2026. GuruFocus rates HOVR with a GF Score™ of 14/100. 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.

New Horizon Aircraft's operating assets for the quarter that ended in Feb. 2026 was $1.64 Mil. New Horizon Aircraft's operating liabilities for the quarter that ended in Feb. 2026 was $5.69 Mil. New Horizon Aircraft's Total Assets for the quarter that ended in Nov. 2025 was $18.24 Mil. Therefore, New Horizon Aircraft's scaled net operating assets (SNOA) for the quarter that ended in Feb. 2026 was -0.22.

New Horizon Aircraft Scaled Net Operating Assets Historical Data

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The historical data trend for New Horizon Aircraft'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.

New Horizon Aircraft Scaled Net Operating Assets Chart

New Horizon Aircraft Annual Data
Trend May22 May23 May24 May25
Scaled Net Operating Assets
0.84 0.79 -13.78 -0.98

New Horizon Aircraft Quarterly Data
May22 Dec22 May23 Dec23 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.08 -0.49 -0.65 -0.57 -0.22

HOVR vs VWAV, CODA, BYRN: Scaled Net Operating Assets Comparison

For the Aerospace & Defense subindustry, New Horizon Aircraft'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.

New Horizon Aircraft Scaled Net Operating Assets vs Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, New Horizon Aircraft's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where New Horizon Aircraft's Scaled Net Operating Assets falls into.


HOVR
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New Horizon Aircraft Ltd HOVR
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New Horizon Aircraft 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.

New Horizon Aircraft's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in May. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: May. 2025 )
=(Operating Assets (A: May. 2025 )-Operating Liabilities (A: May. 2025 ))/Total Assets (A: May. 2024 )
=(0.624-4.176)/3.617
=-0.98

where

Operating Assets(A: May. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6.066 - 5.442
=0.624

Operating Liabilities(A: May. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4.198 - 0.006 - 0.016
=4.176

New Horizon Aircraft's Scaled Net Operating Assets (SNOA) for the quarter that ended in Feb. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Feb. 2026 )
=(Operating Assets (Q: Feb. 2026 )-Operating Liabilities (Q: Feb. 2026 ))/Total Assets (Q: Nov. 2025 )
=(1.637-5.69)/18.24
=-0.22

where

Operating Assets(Q: Feb. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=16.052 - 14.415
=1.637

Operating Liabilities(Q: Feb. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=5.7 - 0 - 0.01
=5.69

* 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 -0.22 mean?
New Horizon Aircraft (HOVR) has a Scaled Net Operating Assets of -0.22 as of Feb. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on New Horizon Aircraft and its competitors.
Is New Horizon Aircraft's Scaled Net Operating Assets too high?
New Horizon Aircraft's current Scaled Net Operating Assets is -0.22. Overall, New Horizon Aircraft has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does New Horizon Aircraft's Scaled Net Operating Assets compare to VWAV and CODA?
New Horizon Aircraft's Scaled Net Operating Assets of -0.22 can be compared against companies in the Aerospace & Defense 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 Aerospace & Defense company?
A good Scaled Net Operating Assets depends on the Aerospace & Defense 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 New Horizon Aircraft and its competitors. New Horizon Aircraft's current Scaled Net Operating Assets is -0.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Horizon Aircraft stock overvalued right now?
New Horizon Aircraft (HOVR) has a current Scaled Net Operating Assets of -0.22. The current Scaled Net Operating Assets is -0.22. New Horizon Aircraft's overall GF Score™ is 14/100 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 New Horizon Aircraft (HOVR), the current Scaled Net Operating Assets is -0.22 as of Feb. 2026. 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.

New Horizon Aircraft Business Description

Address 3187 Highway 35, Lindsay, ON, CAN, K9V 4R1
New Horizon Aircraft Ltd is an aerospace Original Equipment Manufacturer that is designing and building a next-generation hybrid electric vertical take-off and landing aircraft for the regional air mobility market. Its aircraft will offer a more efficient way to move people and goods at a regional scale, help to connect remote communities, and advance its ability to deal with an increasing number of climate-related natural disasters such as wildfires, floods, and droughts. The company aims to deliver a hybrid electric 7-seat aircraft, called the Cavorite X7, that can take off and land vertically like and helicopter.
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