LODE (Comstock) Scaled Net Operating Assets: 0.82 (As of Mar. 2026)


LODE Comstock Inc LODE
47 GF Score
Price $4.11
GF Value $0.73
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Comstock Scaled Net Operating Assets?

Comstock LODE -3.97% 47 Scaled Net Operating Assets is 0.82 as of Mar. 2026. GuruFocus rates LODE with a GF Score™ of 47/100 and a GF Value™ of $0.73 (Significantly Overvalued). 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.

Comstock's operating assets for the quarter that ended in Mar. 2026 was $165.17 Mil. Comstock's operating liabilities for the quarter that ended in Mar. 2026 was $26.92 Mil. Comstock's Total Assets for the quarter that ended in Dec. 2025 was $169.61 Mil. Therefore, Comstock's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.82.


Comstock Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Comstock'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.

Comstock Scaled Net Operating Assets Chart

Comstock 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 2.40 0.49 0.66 0.68 1.37

Comstock 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 0.98 0.93 0.79 0.71 0.82

LODE vs GORO, THMG, ACRG: Scaled Net Operating Assets Comparison

For the Other Precious Metals & Mining subindustry, Comstock'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.


Comstock Scaled Net Operating Assets vs Metals & Mining Industry

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

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


LODE
47GF Score
Comstock Inc LODE
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Comstock 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.

Comstock'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 )
=(152.653-27.99)/91.31
=1.37

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=169.605 - 16.952
=152.653

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=58.704 - 30.173 - 0.541
=27.99

Comstock'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 )
=(165.166-26.92)/169.605
=0.82

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=218.134 - 52.968
=165.166

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=58.379 - 30.663 - 0.796
=26.92

* 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 0.82 mean?
Comstock (LODE) has a Scaled Net Operating Assets of 0.82 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 Comstock and its competitors.
Is Comstock's Scaled Net Operating Assets too high?
Comstock's current Scaled Net Operating Assets is 0.82. Overall, Comstock has a GF Score™ of 47/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Comstock's Scaled Net Operating Assets compare to GORO and THMG?
Comstock's Scaled Net Operating Assets of 0.82 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 Comstock and its competitors. Comstock's current Scaled Net Operating Assets is 0.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Comstock stock overvalued right now?
Based on GuruFocus' analysis, Comstock (LODE) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.73, compared to a current price of $4.11 — trading 463% above its estimated fair value. The current Scaled Net Operating Assets is 0.82. Comstock's overall GF Score™ is 47/100 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 Comstock (LODE), the current Scaled Net Operating Assets is 0.82 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 Comstock (LODE) Overvalued in 2026?

Based on GuruFocus' analysis, Comstock stock appears to be overvalued. The current stock price of $4.11 is trading 463% above its estimated GF Value™ of $0.73. GuruFocus considers Comstock to be Significantly Overvalued.

Key valuation signals for LODE:

  • Scaled Net Operating Assets: 0.82
  • GF Value™: $0.73 vs. price of $4.11 (463% above fair value)
  • GF Score™: 47/100 with 5 warning signs

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


Comstock Business Description

Other Exchanges GSP0:Germany
Address 117 American Flat Road, Virginia City, NV, USA, 89440
Comstock Inc commercializes technologies that convert underutilized waste and natural resources into clean energy and supporting products, including electrification, metals, and minerals from end-of-life solar panels. Its subsidiary focuses on producing renewable fuels from waste, energy crops, and woody biomass, supported by facilities in Wisconsin, pilot farms, a biorefinery site in Tulsa, and solar panel recycling operations in Nevada. The Company operates through two high-growth segments and a corporate segment, with its activities grouped into Metals, which generates the majority of revenue, Fuels, Mining, Strategic Investments, and Corporate Services.
47GF Score

Get the complete analysis for LODE

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

$4.11
Price
$0.73
GF Value