Target Healthcare REIT (LSE:THRL) Scaled Net Operating Assets: 0.89 (As of Dec. 2025)


LSE:THRL Target Healthcare REIT PLC LSE:THRL
32 GF Score
Price £1.08
GF Value £0.88
Valuation Modestly Overvalued
! 7 Warning Signs
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What is Target Healthcare REIT Scaled Net Operating Assets?

Target Healthcare REIT LSE:THRL +0.37% 32 Scaled Net Operating Assets is 0.89 as of Dec. 2025. GuruFocus rates LSE:THRL with a GF Score™ of 32/100 and a GF Value™ of £0.88 (Modestly 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.

Target Healthcare REIT's operating assets for the quarter that ended in Dec. 2025 was £909.33 Mil. Target Healthcare REIT's operating liabilities for the quarter that ended in Dec. 2025 was £35.28 Mil. Target Healthcare REIT's Total Assets for the quarter that ended in Jun. 2025 was £986.19 Mil. Therefore, Target Healthcare REIT's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.89.

LSE:THRL
32GF Score
Target Healthcare REIT PLC LSE:THRL
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Target Healthcare REIT 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.

Target Healthcare REIT's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Jun. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Jun. 2025 )
=(Operating Assets (A: Jun. 2025 )-Operating Liabilities (A: Jun. 2025 ))/Total Assets (A: Jun. 2024 )
=(946.547-33.435)/967.37
=0.94

where

Operating Assets(A: Jun. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=986.186 - 39.639
=946.547

Operating Liabilities(A: Jun. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=273.726 - 240.291 - 0
=33.435

Target Healthcare REIT'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 )
=(909.333-35.283)/986.186
=0.89

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=976.506 - 67.173
=909.333

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=236.222 - 200.939 - 0
=35.283

* 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 0.89 mean?
Target Healthcare REIT (LSE:THRL) has a Scaled Net Operating Assets of 0.89 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 Target Healthcare REIT and its competitors.
Is Target Healthcare REIT's Scaled Net Operating Assets too high?
Target Healthcare REIT's current Scaled Net Operating Assets is 0.89. Overall, Target Healthcare REIT has a GF Score™ of 32/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Target Healthcare REIT's Scaled Net Operating Assets compare to WELL and VTR?
Target Healthcare REIT's Scaled Net Operating Assets of 0.89 can be compared against companies in the REITs 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 REITs company?
A good Scaled Net Operating Assets depends on the REITs 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 Target Healthcare REIT and its competitors. Target Healthcare REIT's current Scaled Net Operating Assets is 0.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Target Healthcare REIT stock overvalued right now?
Based on GuruFocus' analysis, Target Healthcare REIT (LSE:THRL) is currently considered Modestly Overvalued. The stock's GF Value™ is £0.88, compared to a current price of £1.08 — trading 23% above its estimated fair value. The current Scaled Net Operating Assets is 0.89. Target Healthcare REIT's overall GF Score™ is 32/100 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 Target Healthcare REIT (LSE:THRL), the current Scaled Net Operating Assets is 0.89 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 Target Healthcare REIT (LSE:THRL) Overvalued in 2026?

Based on GuruFocus' analysis, Target Healthcare REIT stock appears to be overvalued. The current stock price of £1.08 is trading 23% above its estimated GF Value™ of £0.88. GuruFocus considers Target Healthcare REIT to be Modestly Overvalued.

Key valuation signals for LSE:THRL:

  • Scaled Net Operating Assets: 0.89
  • GF Value™: £0.88 vs. price of £1.08 (23% above fair value)
  • GF Score™: 32/100 with 7 warning signs

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

Target Healthcare REIT Business Description

Industry Real EstateREITs
Address 69 Old Broad Street, Level 4, Dashwood House, London, GBR, EC2M 1QS
Target Healthcare REIT PLC is an investment company that acts as a long-term investor in care homes in the United Kingdom. The investment objective of the company is to provide shareholders with an attractive level of income together with the potential for capital and income growth from investing in a diversified portfolio of freehold and long-leasehold care homes, which are let to care home operators, and other healthcare assets in the United Kingdom.
32GF 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.

£1.08
Price
£0.88
GF Value