KGHPF (KGHM Polska Miedz) Scaled Net Operating Assets: 0.73 (As of Mar. 2026)


KGHPF KGHM Polska Miedz SA KGHPF
69 GF Score
Price $87.52
GF Value $41.51
Valuation Significantly Overvalued
! 6 Warning Signs
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What is KGHM Polska Miedz Scaled Net Operating Assets?

KGHM Polska Miedz KGHPF 69 Scaled Net Operating Assets is 0.73 as of Mar. 2026. GuruFocus rates KGHPF with a GF Score™ of 69/100 and a GF Value™ of $41.51 (Significantly Overvalued). The stock has 6 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.

KGHM Polska Miedz's operating assets for the quarter that ended in Mar. 2026 was $16,705 Mil. KGHM Polska Miedz's operating liabilities for the quarter that ended in Mar. 2026 was $5,375 Mil. KGHM Polska Miedz's Total Assets for the quarter that ended in Dec. 2025 was $15,523 Mil. Therefore, KGHM Polska Miedz's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.73.

KGHM Polska Miedz Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for KGHM Polska Miedz'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.

KGHM Polska Miedz Scaled Net Operating Assets Chart

KGHM Polska Miedz 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 0.72 0.78 0.61 0.71 0.71

KGHM Polska Miedz 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 0.68 0.69 0.69 0.69 0.73

KGHPF vs SCCO, FCX: Scaled Net Operating Assets Comparison

For the Copper subindustry, KGHM Polska Miedz'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.

KGHM Polska Miedz Scaled Net Operating Assets vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, KGHM Polska Miedz's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where KGHM Polska Miedz's Scaled Net Operating Assets falls into.


KGHPF
69GF Score
KGHM Polska Miedz SA KGHPF
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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KGHM Polska Miedz 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.

KGHM Polska Miedz'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 )
=(15394.932-5195.523)/14363.984
=0.71

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=15522.868 - 127.936
=15394.932

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=6754.473 - 1341.726 - 217.224
=5195.523

KGHM Polska Miedz'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 )
=(16704.674-5375.432)/15522.868
=0.73

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=16912.836 - 208.162
=16704.674

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=7048.192 - 1290.552 - 382.208
=5375.432

* 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 0.73 mean?
KGHM Polska Miedz (KGHPF) has a Scaled Net Operating Assets of 0.73 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 KGHM Polska Miedz and its competitors.
Is KGHM Polska Miedz's Scaled Net Operating Assets too high?
KGHM Polska Miedz's current Scaled Net Operating Assets is 0.73. Overall, KGHM Polska Miedz has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does KGHM Polska Miedz's Scaled Net Operating Assets compare to SCCO and FCX?
KGHM Polska Miedz's Scaled Net Operating Assets of 0.73 can be compared against companies in the Metals & Mining 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 Metals & Mining company?
A good Scaled Net Operating Assets depends on the Metals & Mining 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 KGHM Polska Miedz and its competitors. KGHM Polska Miedz's current Scaled Net Operating Assets is 0.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KGHM Polska Miedz stock overvalued right now?
Based on GuruFocus' analysis, KGHM Polska Miedz (KGHPF) is currently considered Significantly Overvalued. The stock's GF Value™ is $41.51, compared to a current price of $87.52 — trading 110.8% above its estimated fair value. The current Scaled Net Operating Assets is 0.73. KGHM Polska Miedz's overall GF Score™ is 69/100 with 6 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 KGHM Polska Miedz (KGHPF), the current Scaled Net Operating Assets is 0.73 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 KGHM Polska Miedz (KGHPF) Overvalued in 2026?

Based on GuruFocus' analysis, KGHM Polska Miedz stock appears to be overvalued. The current stock price of $87.52 is trading 110.8% above its estimated GF Value™ of $41.51. GuruFocus considers KGHM Polska Miedz to be Significantly Overvalued.

Key valuation signals for KGHPF:

  • Scaled Net Operating Assets: 0.73
  • GF Value™: $41.51 vs. price of $87.52 (110.8% above fair value)
  • GF Score™: 69/100 with 6 warning signs

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

KGHM Polska Miedz Business Description

Address 48 M.Sklodowskiej-Curie Street, Lubin, POL, 59-301
KGHM Polska Miedz SA engages in copper ore mining and copper production predominantly in South-Western Poland. The company also produces precious metals such as silver, which is typically used for coins, jewelry, photography products, and industrial purposes. The bulk of group revenue is generated through copper sales, and the remainder is through sales of silver, while a minor portion is generated through the production of gold, salt, and casting of light metals. The materials are sold domestically, and exported to Germany, China, the U.S., the United Kingdom, and the Czech Republic, among many other European nations.
69GF Score

Get the complete analysis for KGHPF

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

$87.52
Price
$41.51
GF Value