MAQAF (Atlas Arteria) Scaled Net Operating Assets: 0.93 (As of Dec. 2025)


MAQAF Atlas Arteria Ltd MAQAF
75 GF Score
Price $3.58
GF Value $4.12
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Atlas Arteria Scaled Net Operating Assets?

Atlas Arteria MAQAF 75 Scaled Net Operating Assets is 0.93 as of Dec. 2025. GuruFocus rates MAQAF with a GF Score™ of 75/100 and a GF Value™ of $4.12 (Modestly Undervalued). The stock has 6 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.

Atlas Arteria's operating assets for the quarter that ended in Dec. 2025 was $4,904.6 Mil. Atlas Arteria's operating liabilities for the quarter that ended in Dec. 2025 was $76.5 Mil. Atlas Arteria's Total Assets for the quarter that ended in Jun. 2025 was $5,180.6 Mil. Therefore, Atlas Arteria's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.93.


Atlas Arteria Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Atlas Arteria'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.

Atlas Arteria Scaled Net Operating Assets Chart

Atlas Arteria 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 0.90 1.39 0.91 0.92 0.92

Atlas Arteria 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 0.91 0.93 0.94 0.94 0.93

Atlas Arteria Scaled Net Operating Assets Competitor Comparison

For the Infrastructure Operations subindustry, Atlas Arteria'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.


Atlas Arteria Scaled Net Operating Assets vs Construction Industry

For the Construction industry and Industrials sector, Atlas Arteria's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Atlas Arteria's Scaled Net Operating Assets falls into.


MAQAF
75GF Score
Atlas Arteria Ltd MAQAF
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Atlas Arteria 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.

Atlas Arteria'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 )
=(4904.584-76.478)/5232.426
=0.92

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=5086.91 - 182.326
=4904.584

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1231.561 - 1084.319 - 70.764
=76.478

Atlas Arteria'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 )
=(4904.584-76.478)/5180.599
=0.93

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=5086.91 - 182.326
=4904.584

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1231.561 - 1084.319 - 70.764
=76.478

* 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 0.93 mean?
Atlas Arteria (MAQAF) has a Scaled Net Operating Assets of 0.93 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 Atlas Arteria and its competitors.
Is Atlas Arteria's Scaled Net Operating Assets too high?
Atlas Arteria's current Scaled Net Operating Assets is 0.93. Overall, Atlas Arteria has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Atlas Arteria's Scaled Net Operating Assets compare to competitors?
Atlas Arteria's Scaled Net Operating Assets of 0.93 can be compared against companies in the Construction 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 Construction company?
A good Scaled Net Operating Assets depends on the Construction 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 Atlas Arteria and its competitors. Atlas Arteria's current Scaled Net Operating Assets is 0.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Atlas Arteria stock overvalued right now?
Based on GuruFocus' analysis, Atlas Arteria (MAQAF) is currently considered Modestly Undervalued. The stock's GF Value™ is $4.12, compared to a current price of $3.58 — trading 13.2% below its estimated fair value. The current Scaled Net Operating Assets is 0.93. Atlas Arteria's overall GF Score™ is 75/100 with 6 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 Atlas Arteria (MAQAF), the current Scaled Net Operating Assets is 0.93 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 Atlas Arteria (MAQAF) Overvalued in 2026?

Based on GuruFocus' analysis, Atlas Arteria stock appears to be undervalued. The current stock price of $3.58 is trading 13.2% below its estimated GF Value™ of $4.12. GuruFocus considers Atlas Arteria to be Modestly Undervalued.

Key valuation signals for MAQAF:

  • Scaled Net Operating Assets: 0.93
  • GF Value™: $4.12 vs. price of $3.58 (13.2% below fair value)
  • GF Score™: 75/100 with 6 warning signs

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


Atlas Arteria Business Description

Other Exchanges M82:GermanyALX:Australia
Address 180 Flinders Street, Level 1, Melbourne, VIC, AUS, 3000
Atlas Arteria is a global toll-road investor created out of the reorganization of Macquarie Infrastructure Group in 2010. The firm's main asset is a 30.82% stake in APRR. APRR owns concessions to toll more than 2,300 kilometers of motorways in eastern France, most ending by late 2035. The firm also wholly owns the Dulles Greenway and 66.67% of the Chicago Skyway, both in the US.
75GF 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.

$3.58
Price
$4.12
GF Value