JAPSY (Japan Airlines Co) Scaled Net Operating Assets: 0.38 (As of Mar. 2026)


JAPSY Japan Airlines Co Ltd JAPSY
83 GF Score
Price $8.80
GF Value $9.69
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is Japan Airlines Co Scaled Net Operating Assets?

Japan Airlines Co JAPSY +2.21% 83 Scaled Net Operating Assets is 0.38 as of Mar. 2026. GuruFocus rates JAPSY with a GF Score™ of 83/100 and a GF Value™ of $9.69 (Fairly Valued). The stock has 3 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.

Japan Airlines Co's operating assets for the quarter that ended in Mar. 2026 was $13,595 Mil. Japan Airlines Co's operating liabilities for the quarter that ended in Mar. 2026 was $6,227 Mil. Japan Airlines Co's Total Assets for the quarter that ended in Dec. 2025 was $19,490 Mil. Therefore, Japan Airlines Co's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.38.


Japan Airlines Co Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Japan Airlines 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.

Japan Airlines Co Scaled Net Operating Assets Chart

Japan Airlines Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.54 0.42 0.39 0.44 0.39

Japan Airlines Co 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 0.43 0.42 0.39 0.38 0.38

JAPSY vs DAL, UAL, LUV: Scaled Net Operating Assets Comparison

For the Airlines subindustry, Japan Airlines 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.


Japan Airlines Co Scaled Net Operating Assets vs Transportation Industry

For the Transportation industry and Industrials sector, Japan Airlines Co's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Japan Airlines Co's Scaled Net Operating Assets falls into.


JAPSY
83GF Score
Japan Airlines Co Ltd JAPSY
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Japan Airlines 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.

Japan Airlines Co's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(A: Mar. 2026 )
=(Operating Assets (A: Mar. 2026 )-Operating Liabilities (A: Mar. 2026 ))/Total Assets (A: Mar. 2025 )
=(13595.407-6226.735)/18750.557
=0.39

where

Operating Assets(A: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=20158.196 - 6562.789
=13595.407

Operating Liabilities(A: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=11746.662 - 4575.382 - 944.545
=6226.735

Japan Airlines Co'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 )
=(13595.407-6226.735)/19490.241
=0.38

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=20158.196 - 6562.789
=13595.407

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=11746.662 - 4575.382 - 944.545
=6226.735

* 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 0.38 mean?
Japan Airlines Co (JAPSY) has a Scaled Net Operating Assets of 0.38 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 Japan Airlines Co and its competitors.
Is Japan Airlines Co's Scaled Net Operating Assets too high?
Japan Airlines Co's current Scaled Net Operating Assets is 0.38. Overall, Japan Airlines Co has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Japan Airlines Co's Scaled Net Operating Assets compare to DAL and UAL?
Japan Airlines Co's Scaled Net Operating Assets of 0.38 can be compared against companies in the Transportation 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 Transportation company?
A good Scaled Net Operating Assets depends on the Transportation 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 Japan Airlines Co and its competitors. Japan Airlines Co's current Scaled Net Operating Assets is 0.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Airlines Co stock overvalued right now?
Based on GuruFocus' analysis, Japan Airlines Co (JAPSY) is currently considered Fairly Valued. The stock's GF Value™ is $9.69, compared to a current price of $8.80 — trading 9.2% below its estimated fair value. The current Scaled Net Operating Assets is 0.38. Japan Airlines Co's overall GF Score™ is 83/100 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 Japan Airlines Co (JAPSY), the current Scaled Net Operating Assets is 0.38 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 Japan Airlines Co (JAPSY) Overvalued in 2026?

Based on GuruFocus' analysis, Japan Airlines Co stock appears to be undervalued. The current stock price of $8.80 is trading 9.2% below its estimated GF Value™ of $9.69. GuruFocus considers Japan Airlines Co to be Fairly Valued.

Key valuation signals for JAPSY:

  • Scaled Net Operating Assets: 0.38
  • GF Value™: $9.69 vs. price of $8.80 (9.2% below fair value)
  • GF Score™: 83/100 with 3 warning signs

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


Japan Airlines Co Business Description

Address 2-4-11 Higashi-Shinagawa, Nomura Real Estate Building, Shinagawa-ku, Tokyo, JPN, 140-8605
Japan Airlines Co Ltd is an international air transport services company. It offers scheduled and non-scheduled air transport services and aerial work services. The company operates large aircraft, medium-sized aircraft, small aircraft, and regional jets. The company is also engaged in the travel planning and sales business, which covers travel planning and sales, baggage delivery, system development and operation, ticketing systems for the travel industry, and credit card services related to air travel.
83GF Score

Get the complete analysis for JAPSY

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

$8.80
Price
$9.69
GF Value