Clientele (JSE:CLI) Scaled Net Operating Assets: 0.37 (As of Dec. 2025)


JSE:CLI Clientele Ltd JSE:CLI
58 GF Score
Price R19.71
GF Value R18.45
Valuation Fairly Valued
! 8 Warning Signs
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What is Clientele Scaled Net Operating Assets?

Clientele JSE:CLI 58 Scaled Net Operating Assets is 0.37 as of Dec. 2025. GuruFocus rates JSE:CLI with a GF Score™ of 58/100 and a GF Value™ of R18.45 (Fairly Valued). The stock has 8 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.

Clientele's operating assets for the quarter that ended in Dec. 2025 was R21,982 Mil. Clientele's operating liabilities for the quarter that ended in Dec. 2025 was R14,480 Mil. Clientele's Total Assets for the quarter that ended in Jun. 2025 was R20,075 Mil. Therefore, Clientele's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.37.

JSE:CLI
58GF Score
Clientele Ltd JSE:CLI
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Clientele 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.

Clientele's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Jun. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Jun. 2025 )
=(Operating Assets (A: Jun. 2025 )-Operating Liabilities (A: Jun. 2025 ))/Total Assets (A: Jun. 2024 )
=(19199.148-13372.237)/11290.938
=0.52

where

Operating Assets(A: Jun. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=20074.663 - 875.515
=19199.148

Operating Liabilities(A: Jun. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=14165.099 - 750.582 - 42.28
=13372.237

Clientele'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 )
=(21981.887-14479.736)/20074.663
=0.37

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=22440.412 - 458.525
=21981.887

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=15283.447 - 803.711 - 0
=14479.736

* 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 0.37 mean?
Clientele (JSE:CLI) has a Scaled Net Operating Assets of 0.37 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 Clientele and its competitors.
Is Clientele's Scaled Net Operating Assets too high?
Clientele's current Scaled Net Operating Assets is 0.37. Overall, Clientele has a GF Score™ of 58/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Clientele's Scaled Net Operating Assets compare to BRK.A and AIG?
Clientele's Scaled Net Operating Assets of 0.37 can be compared against companies in the Insurance 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 Insurance company?
A good Scaled Net Operating Assets depends on the Insurance 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 Clientele and its competitors. Clientele's current Scaled Net Operating Assets is 0.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Clientele stock overvalued right now?
Based on GuruFocus' analysis, Clientele (JSE:CLI) is currently considered Fairly Valued. The stock's GF Value™ is R18.45, compared to a current price of R19.71 — trading 6.8% above its estimated fair value. The current Scaled Net Operating Assets is 0.37. Clientele's overall GF Score™ is 58/100 with 8 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 Clientele (JSE:CLI), the current Scaled Net Operating Assets is 0.37 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 Clientele (JSE:CLI) Overvalued in 2026?

Based on GuruFocus' analysis, Clientele stock appears to be overvalued. The current stock price of R19.71 is trading 6.8% above its estimated GF Value™ of R18.45. GuruFocus considers Clientele to be Fairly Valued.

Key valuation signals for JSE:CLI:

  • Scaled Net Operating Assets: 0.37
  • GF Value™: R18.45 vs. price of R19.71 (6.8% above fair value)
  • GF Score™: 58/100 with 8 warning signs

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

Clientele Business Description

Address Corner Rivonia and Alon Roads Morningside, Clientele Office Park, Johannesburg, GT, ZAF, 2196
Clientele Ltd is a diversified financial services group. It markets, distributes, and underwrites insurance and investment products. The company's operating segment includes Clientele Life Insurance, 1Life Insurance, Non-Life Insurance, Emerald Life Insurance, and CBC Rewards, Mobile & Direct Rewards. Its insurance products and services include Legal, Mobile, Wealth, Credit Life, Investments, and others. It generates maximum revenue from the 1Life insurance segment, which involves the sale and administration of long-term insurance risk policies. The group currently operates in the South African market only.
58GF Score

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

R19.71
Price
R18.45
GF Value