Manchester & London Investment Trust (LSE:MNL) Scaled Net Operating Assets: 0.91 (As of Jan. 2026)


LSE:MNL Manchester & London Investment Trust PLC LSE:MNL
44 GF Score
Price £11.35
GF Value £5.83
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Manchester & London Investment Trust Scaled Net Operating Assets?

Manchester & London Investment Trust LSE:MNL -1.30% 44 Scaled Net Operating Assets is 0.91 as of Jan. 2026. GuruFocus rates LSE:MNL with a GF Score™ of 44/100 and a GF Value™ of £5.83 (Significantly Overvalued). The stock has 7 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.

Manchester & London Investment Trust's operating assets for the quarter that ended in Jan. 2026 was £395.53 Mil. Manchester & London Investment Trust's operating liabilities for the quarter that ended in Jan. 2026 was £11.81 Mil. Manchester & London Investment Trust's Total Assets for the quarter that ended in Jul. 2025 was £420.90 Mil. Therefore, Manchester & London Investment Trust's scaled net operating assets (SNOA) for the quarter that ended in Jan. 2026 was 0.91.

LSE:MNL
44GF Score
Manchester & London Investment Trust PLC LSE:MNL
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Manchester & London Investment 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.

Manchester & London Investment Trust's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Jul. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Jul. 2025 )
=(Operating Assets (A: Jul. 2025 )-Operating Liabilities (A: Jul. 2025 ))/Total Assets (A: Jul. 2024 )
=(403.467-7.659)/337.845
=1.17

where

Operating Assets(A: Jul. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=420.896 - 17.429
=403.467

Operating Liabilities(A: Jul. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=7.768 - 0.109 - 0
=7.659

Manchester & London Investment Trust's Scaled Net Operating Assets (SNOA) for the quarter that ended in Jan. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Jan. 2026 )
=(Operating Assets (Q: Jan. 2026 )-Operating Liabilities (Q: Jan. 2026 ))/Total Assets (Q: Jul. 2025 )
=(395.525-11.811)/420.896
=0.91

where

Operating Assets(Q: Jan. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=412.721 - 17.196
=395.525

Operating Liabilities(Q: Jan. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=13.778 - 1.967 - 0
=11.811

* 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 0.91 mean?
Manchester & London Investment Trust (LSE:MNL) has a Scaled Net Operating Assets of 0.91 as of Jan. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Manchester & London Investment Trust and its competitors.
Is Manchester & London Investment Trust's Scaled Net Operating Assets too high?
Manchester & London Investment Trust's current Scaled Net Operating Assets is 0.91. Overall, Manchester & London Investment Trust has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Manchester & London Investment Trust's Scaled Net Operating Assets compare to BLK and BX?
Manchester & London Investment Trust's Scaled Net Operating Assets of 0.91 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 Manchester & London Investment Trust and its competitors. Manchester & London Investment Trust's current Scaled Net Operating Assets is 0.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Manchester & London Investment Trust stock overvalued right now?
Based on GuruFocus' analysis, Manchester & London Investment Trust (LSE:MNL) is currently considered Significantly Overvalued. The stock's GF Value™ is £5.83, compared to a current price of £11.35 — trading 94.7% above its estimated fair value. The current Scaled Net Operating Assets is 0.91. Manchester & London Investment Trust's overall GF Score™ is 44/100 with 7 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 Manchester & London Investment Trust (LSE:MNL), the current Scaled Net Operating Assets is 0.91 as of Jan. 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 Manchester & London Investment Trust (LSE:MNL) Overvalued in 2026?

Based on GuruFocus' analysis, Manchester & London Investment Trust stock appears to be overvalued. The current stock price of £11.35 is trading 94.7% above its estimated GF Value™ of £5.83. GuruFocus considers Manchester & London Investment Trust to be Significantly Overvalued.

Key valuation signals for LSE:MNL:

  • Scaled Net Operating Assets: 0.91
  • GF Value™: £5.83 vs. price of £11.35 (94.7% above fair value)
  • GF Score™: 44/100 with 7 warning signs

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

Manchester & London Investment Trust Business Description

Address 12a Princes Gate Mews, London, GBR, SW7 2PS
Manchester & London Investment Trust PLC is an investment company. It invests in companies whose shares are admitted to trading on a regulated market. The investment objective of the company is to achieve capital appreciation together with a reasonable level of income. It may invest in derivatives, money market instruments, currency instruments, contracts for differences (CFDs), futures, forwards, and options for the purposes of holding investments and hedging positions against movements in equity markets, currencies, and interest rates.
44GF 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.

£11.35
Price
£5.83
GF Value