International Biotechnology Trust (LSE:IBT) Scaled Net Operating Assets: 1.21 (As of Feb. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

LSE:IBT International Biotechnology Trust PLC LSE:IBT
36 GF Score
Price £10.85
! 4 Warning Signs
View Full Analysis

What is International Biotechnology Trust Scaled Net Operating Assets?

International Biotechnology Trust LSE:IBT +0.46% 36 Scaled Net Operating Assets is 1.21 as of Feb. 2026. GuruFocus rates LSE:IBT with a GF Score™ of 36/100. The stock has 4 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.

International Biotechnology Trust's operating assets for the quarter that ended in Feb. 2026 was £344.36 Mil. International Biotechnology Trust's operating liabilities for the quarter that ended in Feb. 2026 was £0.00 Mil. International Biotechnology Trust's Total Assets for the quarter that ended in Aug. 2025 was £284.04 Mil. Therefore, International Biotechnology Trust's scaled net operating assets (SNOA) for the quarter that ended in Feb. 2026 was 1.21.

LSE:IBT
36GF Score
International Biotechnology Trust PLC LSE:IBT
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

International Biotechnology Trust 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.

International Biotechnology Trust's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Aug. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Aug. 2025 )
=(Operating Assets (A: Aug. 2025 )-Operating Liabilities (A: Aug. 2025 ))/Total Assets (A: Aug. 2024 )
=(269.056-5.02)/308.155
=0.86

where

Operating Assets(A: Aug. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=284.036 - 14.98
=269.056

Operating Liabilities(A: Aug. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=34.627 - 29.607 - 0
=5.02

International Biotechnology Trust's Scaled Net Operating Assets (SNOA) for the quarter that ended in Feb. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Feb. 2026 )
=(Operating Assets (Q: Feb. 2026 )-Operating Liabilities (Q: Feb. 2026 ))/Total Assets (Q: Aug. 2025 )
=(344.356-0)/284.036
=1.21

where

Operating Assets(Q: Feb. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=347.324 - 2.968
=344.356

Operating Liabilities(Q: Feb. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=31.963 - 31.963 - 0
=0

* 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 1.21 mean?
International Biotechnology Trust (LSE:IBT) has a Scaled Net Operating Assets of 1.21 as of Feb. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on International Biotechnology Trust and its competitors.
Is International Biotechnology Trust's Scaled Net Operating Assets too high?
International Biotechnology Trust's current Scaled Net Operating Assets is 1.21. Overall, International Biotechnology Trust has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.
How does International Biotechnology Trust's Scaled Net Operating Assets compare to VRTX and REGN?
International Biotechnology Trust's Scaled Net Operating Assets of 1.21 can be compared against companies in the Biotechnology 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 Biotechnology company?
A good Scaled Net Operating Assets depends on the Biotechnology 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 International Biotechnology Trust and its competitors. International Biotechnology Trust's current Scaled Net Operating Assets is 1.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is International Biotechnology Trust stock overvalued right now?
International Biotechnology Trust (LSE:IBT) has a current Scaled Net Operating Assets of 1.21. The current Scaled Net Operating Assets is 1.21. International Biotechnology Trust's overall GF Score™ is 36/100 with 4 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 International Biotechnology Trust (LSE:IBT), the current Scaled Net Operating Assets is 1.21 as of Feb. 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.

International Biotechnology Trust Business Description

Address 1 London Wall Place, London, GBR, EC2Y 5AU
International Biotechnology Trust PLC is an investment trust company. It aims at achieving long-term capital growth by investing in biotechnology and other life sciences companies. It seeks to achieve its objective by investing in a diversified portfolio of companies which has good growth prospects. It focuses on investments in biotechnology companies which are engaged in on drug discovery and development, medical devices companies and healthcare services provider. The invests in various financial instruments such as equities, index-linked securities, debt securities, cash deposits, money market instruments ,and foreign currency exchange transactions. Its revenue comprises of dividend, interest and other income from investment made.
36GF Score

Get the complete analysis for LSE:IBT

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

£10.85
Price