Jardine Matheson Holdings (LSE:JAR) Scaled Net Operating Assets: 0.75 (As of Dec. 2025)


LSE:JAR Jardine Matheson Holdings Ltd LSE:JAR
69 GF Score
Price $62.50
GF Value $40.75
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Jardine Matheson Holdings Scaled Net Operating Assets?

Jardine Matheson Holdings LSE:JAR 69 Scaled Net Operating Assets is 0.75 as of Dec. 2025. GuruFocus rates LSE:JAR with a GF Score™ of 69/100 and a GF Value™ of $40.75 (Significantly Overvalued). The stock has 3 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.

Jardine Matheson Holdings's operating assets for the quarter that ended in Dec. 2025 was $77,200 Mil. Jardine Matheson Holdings's operating liabilities for the quarter that ended in Dec. 2025 was $13,338 Mil. Jardine Matheson Holdings's Total Assets for the quarter that ended in Jun. 2025 was $85,525 Mil. Therefore, Jardine Matheson Holdings's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.75.


Jardine Matheson Holdings Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Jardine Matheson Holdings'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.

Jardine Matheson Holdings Scaled Net Operating Assets Chart

Jardine Matheson Holdings 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 0.77 0.77 0.80 0.75 0.74

Jardine Matheson Holdings Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 0.81 0.76 0.79 0.77 0.75

LSE:JAR vs HON, MMM: Scaled Net Operating Assets Comparison

For the Conglomerates subindustry, Jardine Matheson Holdings'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.


Jardine Matheson Holdings Scaled Net Operating Assets vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Jardine Matheson Holdings's Scaled Net Operating Assets distribution charts can be found below:

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


LSE:JAR
69GF Score
Jardine Matheson Holdings Ltd LSE:JAR
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Jardine Matheson Holdings 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.

Jardine Matheson Holdings'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 )
=(77200-13338)/86779
=0.74

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=86136 - 8936
=77200

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=31489 - 12549 - 5602
=13338

Jardine Matheson Holdings'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 )
=(77200-13338)/85525
=0.75

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=86136 - 8936
=77200

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=31489 - 12549 - 5602
=13338

* 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 0.75 mean?
Jardine Matheson Holdings (LSE:JAR) has a Scaled Net Operating Assets of 0.75 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 Jardine Matheson Holdings and its competitors.
Is Jardine Matheson Holdings' Scaled Net Operating Assets too high?
Jardine Matheson Holdings' current Scaled Net Operating Assets is 0.75. Overall, Jardine Matheson Holdings has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Jardine Matheson Holdings' Scaled Net Operating Assets compare to HON and MMM?
Jardine Matheson Holdings' Scaled Net Operating Assets of 0.75 can be compared against companies in the Conglomerates 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 Conglomerates company?
A good Scaled Net Operating Assets depends on the Conglomerates 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 Jardine Matheson Holdings and its competitors. Jardine Matheson Holdings's current Scaled Net Operating Assets is 0.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jardine Matheson Holdings stock overvalued right now?
Based on GuruFocus' analysis, Jardine Matheson Holdings (LSE:JAR) is currently considered Significantly Overvalued. The stock's GF Value™ is $40.75, compared to a current price of $62.50 — trading 53.4% above its estimated fair value. The current Scaled Net Operating Assets is 0.75. Jardine Matheson Holdings' overall GF Score™ is 69/100 with 3 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 Jardine Matheson Holdings (LSE:JAR), the current Scaled Net Operating Assets is 0.75 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 Jardine Matheson Holdings (LSE:JAR) Overvalued in 2026?

Based on GuruFocus' analysis, Jardine Matheson Holdings stock appears to be overvalued. The current stock price of $62.50 is trading 53.4% above its estimated GF Value™ of $40.75. GuruFocus considers Jardine Matheson Holdings to be Significantly Overvalued.

Key valuation signals for LSE:JAR:

  • Scaled Net Operating Assets: 0.75
  • GF Value™: $40.75 vs. price of $62.50 (53.4% above fair value)
  • GF Score™: 69/100 with 3 warning signs

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


Jardine Matheson Holdings Business Description

Address 33-35 Reid Street, 4th Floor, Jardine House, P.O. Box HM 1068, Hamilton, BMU, HM 12
Jardine Matheson Holdings Ltd is a conglomerate of businesses operating in Greater China and Southeast Asia. The affiliates offer products and services in motor vehicles and related operations, property investment and development, food retailing, home furnishing, engineering and construction, transport services, insurance broking, restaurants, luxury hotels, financial services, heavy equipment, mining, and agribusiness. In terms of net income, key businesses within the group are Hong Kong Land and Dairy Farm, which are property investment firms and food retailers, respectively.
69GF 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.

$62.50
Price
$40.75
GF Value