PT Adhi Karya (Persero) Tbk (ISX:ADHI) Scaled Net Operating Assets: 0.36 (As of Mar. 2026)

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ISX:ADHI PT Adhi Karya (Persero) Tbk ISX:ADHI
58 GF Score
Price Rp166.00
GF Value Rp194.09
Valuation Modestly Undervalued
! 5 Warning Signs
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What is PT Adhi Karya (Persero) Tbk Scaled Net Operating Assets?

PT Adhi Karya (Persero) Tbk ISX:ADHI +1.22% 58 Scaled Net Operating Assets is 0.36 as of Mar. 2026. GuruFocus rates ISX:ADHI with a GF Score™ of 58/100 and a GF Value™ of Rp194.09 (Modestly Undervalued). The stock has 5 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.

PT Adhi Karya (Persero) Tbk's operating assets for the quarter that ended in Mar. 2026 was Rp26,818,739 Mil. PT Adhi Karya (Persero) Tbk's operating liabilities for the quarter that ended in Mar. 2026 was Rp16,332,782 Mil. PT Adhi Karya (Persero) Tbk's Total Assets for the quarter that ended in Dec. 2025 was Rp28,793,940 Mil. Therefore, PT Adhi Karya (Persero) Tbk's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.36.


PT Adhi Karya (Persero) Tbk Scaled Net Operating Assets Historical Data

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The historical data trend for PT Adhi Karya (Persero) Tbk'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.

PT Adhi Karya (Persero) Tbk Scaled Net Operating Assets Chart

PT Adhi Karya (Persero) Tbk 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 0.34 0.37 0.40 0.38 0.27

PT Adhi Karya (Persero) Tbk Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.47 0.48 0.48 0.27 0.36

ISX:ADHI vs PWR, FIX, EME: Scaled Net Operating Assets Comparison

For the Engineering & Construction subindustry, PT Adhi Karya (Persero) Tbk'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.


PT Adhi Karya (Persero) Tbk Scaled Net Operating Assets vs Construction Industry

For the Construction industry and Industrials sector, PT Adhi Karya (Persero) Tbk's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where PT Adhi Karya (Persero) Tbk's Scaled Net Operating Assets falls into.


ISX:ADHI
58GF Score
PT Adhi Karya (Persero) Tbk ISX:ADHI
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Adhi Karya (Persero) Tbk 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.

PT Adhi Karya (Persero) Tbk'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 )
=(26723649.136-17536272.362)/34645591.977
=0.27

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=28793939.611 - 2070290.475
=26723649.136

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=25496596.473 - 4822633.03 - 3137691.081
=17536272.362

PT Adhi Karya (Persero) Tbk's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(26818738.676-16332781.865)/28793939.611
=0.36

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=28100367.256 - 1281628.58
=26818738.676

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=24645012.863 - 5964602.899 - 2347628.099
=16332781.865

* 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 0.36 mean?
PT Adhi Karya (Persero) Tbk (ISX:ADHI) has a Scaled Net Operating Assets of 0.36 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on PT Adhi Karya (Persero) Tbk and its competitors.
Is PT Adhi Karya (Persero) Tbk's Scaled Net Operating Assets too high?
PT Adhi Karya (Persero) Tbk's current Scaled Net Operating Assets is 0.36. Overall, PT Adhi Karya (Persero) Tbk has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Adhi Karya (Persero) Tbk's Scaled Net Operating Assets compare to PWR and FIX?
PT Adhi Karya (Persero) Tbk's Scaled Net Operating Assets of 0.36 can be compared against companies in the Construction 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 Construction company?
A good Scaled Net Operating Assets depends on the Construction 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 PT Adhi Karya (Persero) Tbk and its competitors. PT Adhi Karya (Persero) Tbk's current Scaled Net Operating Assets is 0.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Adhi Karya (Persero) Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Adhi Karya (Persero) Tbk (ISX:ADHI) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp194.09, compared to a current price of Rp166.00 — trading 14.5% below its estimated fair value. The current Scaled Net Operating Assets is 0.36. PT Adhi Karya (Persero) Tbk's overall GF Score™ is 58/100 with 5 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 PT Adhi Karya (Persero) Tbk (ISX:ADHI), the current Scaled Net Operating Assets is 0.36 as of Mar. 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.

Is PT Adhi Karya (Persero) Tbk (ISX:ADHI) Overvalued in 2026?

Based on GuruFocus' analysis, PT Adhi Karya (Persero) Tbk stock appears to be undervalued. The current stock price of Rp166.00 is trading 14.5% below its estimated GF Value™ of Rp194.09. GuruFocus considers PT Adhi Karya (Persero) Tbk to be Modestly Undervalued.

Key valuation signals for ISX:ADHI:

  • Scaled Net Operating Assets: 0.36
  • GF Value™: Rp194.09 vs. price of Rp166.00 (14.5% below fair value)
  • GF Score™: 58/100 with 5 warning signs

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


PT Adhi Karya (Persero) Tbk Business Description

Other Exchanges KM6:Germany
Address Jalan Raya Pasar Minggu Km. 18, Harmonis Building, Jakata, IDN, 12510
PT Adhi Karya (Persero) Tbk is an Indonesia-based company that provides construction services. The company operates through segments namely the Engineering and Infrastructure segment, Property and Hospitality, Manufacturing, Investments and Concessions. The company generates majority of its revenue from the Engineering and Infrastructure segment.
58GF Score

Get the complete analysis for ISX:ADHI

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

Rp166.00
Price
Rp194.09
GF Value