Brunner Investment Trust (The) (LSE:BUT) Scaled Net Operating Assets: 1.06 (As of Nov. 2025)


LSE:BUT Brunner Investment Trust (The) PLC LSE:BUT
61 GF Score
Price £14.84
GF Value £24.43
Valuation Significantly Undervalued
! 5 Warning Signs
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What is Brunner Investment Trust (The) Scaled Net Operating Assets?

Brunner Investment Trust (The) LSE:BUT -0.27% 61 Scaled Net Operating Assets is 1.06 as of Nov. 2025. GuruFocus rates LSE:BUT with a GF Score™ of 61/100 and a GF Value™ of £24.43 (Significantly 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.

Brunner Investment Trust (The)'s operating assets for the quarter that ended in Nov. 2025 was £679.77 Mil. Brunner Investment Trust (The)'s operating liabilities for the quarter that ended in Nov. 2025 was £5.48 Mil. Brunner Investment Trust (The)'s Total Assets for the quarter that ended in May. 2025 was £635.78 Mil. Therefore, Brunner Investment Trust (The)'s scaled net operating assets (SNOA) for the quarter that ended in Nov. 2025 was 1.06.

LSE:BUT
61GF Score
Brunner Investment Trust (The) PLC LSE:BUT
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Brunner Investment Trust (The) 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.

Brunner Investment Trust (The)'s Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Nov. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Nov. 2025 )
=(Operating Assets (A: Nov. 2025 )-Operating Liabilities (A: Nov. 2025 ))/Total Assets (A: Nov. 2024 )
=(679.77-5.479)/655.02
=1.03

where

Operating Assets(A: Nov. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=697.373 - 17.603
=679.77

Operating Liabilities(A: Nov. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=30.15 - 24.671 - 0
=5.479

Brunner Investment Trust (The)'s Scaled Net Operating Assets (SNOA) for the quarter that ended in Nov. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Nov. 2025 )
=(Operating Assets (Q: Nov. 2025 )-Operating Liabilities (Q: Nov. 2025 ))/Total Assets (Q: May. 2025 )
=(679.77-5.479)/635.783
=1.06

where

Operating Assets(Q: Nov. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=697.373 - 17.603
=679.77

Operating Liabilities(Q: Nov. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=30.15 - 24.671 - 0
=5.479

* 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 1.06 mean?
Brunner Investment Trust (The) (LSE:BUT) has a Scaled Net Operating Assets of 1.06 as of Nov. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Brunner Investment Trust (The) and its competitors.
Is Brunner Investment Trust (The)'s Scaled Net Operating Assets too high?
Brunner Investment Trust (The)'s current Scaled Net Operating Assets is 1.06. Overall, Brunner Investment Trust (The) has a GF Score™ of 61/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Brunner Investment Trust (The)'s Scaled Net Operating Assets compare to BLK and BX?
Brunner Investment Trust (The)'s Scaled Net Operating Assets of 1.06 can be compared against companies in the Asset Management 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 Asset Management company?
A good Scaled Net Operating Assets depends on the Asset Management 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 Brunner Investment Trust (The) and its competitors. Brunner Investment Trust (The)'s current Scaled Net Operating Assets is 1.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Brunner Investment Trust (The) stock overvalued right now?
Based on GuruFocus' analysis, Brunner Investment Trust (The) (LSE:BUT) is currently considered Significantly Undervalued. The stock's GF Value™ is £24.43, compared to a current price of £14.84 — trading 39.3% below its estimated fair value. The current Scaled Net Operating Assets is 1.06. Brunner Investment Trust (The)'s overall GF Score™ is 61/100 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 Brunner Investment Trust (The) (LSE:BUT), the current Scaled Net Operating Assets is 1.06 as of Nov. 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 Brunner Investment Trust (The) (LSE:BUT) Overvalued in 2026?

Based on GuruFocus' analysis, Brunner Investment Trust (The) stock appears to be undervalued. The current stock price of £14.84 is trading 39.3% below its estimated GF Value™ of £24.43. GuruFocus considers Brunner Investment Trust (The) to be Significantly Undervalued.

Key valuation signals for LSE:BUT:

  • Scaled Net Operating Assets: 1.06
  • GF Value™: £24.43 vs. price of £14.84 (39.3% below fair value)
  • GF Score™: 61/100 with 5 warning signs

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

Brunner Investment Trust (The) Business Description

Address 199 Bishopsgate, London, GBR, EC2M 3TY
Brunner Investment Trust (The) PLC is a United Kingdom-based investment trust. It aims to provide growth in capital value and dividends over the long term by investing in UK securities and international securities. The benchmark against which performance is measured is 70% FTSE World ex-UK Index and 30% FTSE All-Share Index. Its portfolio consists of securities from Industrials, Financials, Communication Services, Utilities, Health Care, Energy, and other industries.
61GF Score

Get the complete analysis for LSE:BUT

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

£14.84
Price
£24.43
GF Value