MCHVF (MGM China Holdings) Scaled Net Operating Assets: 0.59 (As of Dec. 2025)


MCHVF MGM China Holdings Ltd MCHVF
79 GF Score
Price $1.28
GF Value $2.25
Valuation Significantly Undervalued
! 3 Warning Signs
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What is MGM China Holdings Scaled Net Operating Assets?

MGM China Holdings MCHVF -14.67% 79 Scaled Net Operating Assets is 0.59 as of Dec. 2025. GuruFocus rates MCHVF with a GF Score™ of 79/100 and a GF Value™ of $2.25 (Significantly Undervalued). 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.

MGM China Holdings's operating assets for the quarter that ended in Dec. 2025 was $3,249 Mil. MGM China Holdings's operating liabilities for the quarter that ended in Dec. 2025 was $933 Mil. MGM China Holdings's Total Assets for the quarter that ended in Jun. 2025 was $3,932 Mil. Therefore, MGM China Holdings's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.59.

MGM China Holdings Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for MGM China 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.

MGM China Holdings Scaled Net Operating Assets Chart

MGM China 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 0.75 0.78 0.60 0.63 0.59

MGM China 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 0.65 0.64 0.61 0.59 0.59

MCHVF vs LVS, MGM, WYNN: Scaled Net Operating Assets Comparison

For the Resorts & Casinos subindustry, MGM China 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.

MGM China Holdings Scaled Net Operating Assets vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, MGM China Holdings's Scaled Net Operating Assets distribution charts can be found below:

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


MCHVF
79GF Score
MGM China Holdings Ltd MCHVF
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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MGM China 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.

MGM China 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 )
=(3248.639-932.739)/3936.971
=0.59

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=3813.698 - 565.059
=3248.639

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3396.33 - 1710.295 - 753.296
=932.739

MGM China 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 )
=(3248.639-932.739)/3932.325
=0.59

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=3813.698 - 565.059
=3248.639

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3396.33 - 1710.295 - 753.296
=932.739

* 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 0.59 mean?
MGM China Holdings (MCHVF) has a Scaled Net Operating Assets of 0.59 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 MGM China Holdings and its competitors.
Is MGM China Holdings' Scaled Net Operating Assets too high?
MGM China Holdings' current Scaled Net Operating Assets is 0.59. Overall, MGM China Holdings has a GF Score™ of 79/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does MGM China Holdings' Scaled Net Operating Assets compare to LVS and MGM?
MGM China Holdings' Scaled Net Operating Assets of 0.59 can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Scaled Net Operating Assets depends on the Travel & Leisure 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 MGM China Holdings and its competitors. MGM China Holdings's current Scaled Net Operating Assets is 0.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MGM China Holdings stock overvalued right now?
Based on GuruFocus' analysis, MGM China Holdings (MCHVF) is currently considered Significantly Undervalued. The stock's GF Value™ is $2.25, compared to a current price of $1.28 — trading 43.1% below its estimated fair value. The current Scaled Net Operating Assets is 0.59. MGM China Holdings' overall GF Score™ is 79/100 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 MGM China Holdings (MCHVF), the current Scaled Net Operating Assets is 0.59 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 MGM China Holdings (MCHVF) Overvalued in 2026?

Based on GuruFocus' analysis, MGM China Holdings stock appears to be undervalued. The current stock price of $1.28 is trading 43.1% below its estimated GF Value™ of $2.25. GuruFocus considers MGM China Holdings to be Significantly Undervalued.

Key valuation signals for MCHVF:

  • Scaled Net Operating Assets: 0.59
  • GF Value™: $2.25 vs. price of $1.28 (43.1% below fair value)
  • GF Score™: 79/100 with 3 warning signs

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

MGM China Holdings Business Description

Address Avenida Dr. Sun Yat Sen, Edificio MGM MACAU NAPE, Macao, MAC
MGM China is one of six casino license holders in Macao. It operates two integrated resorts: the MGM Macau in the Peninsula and MGM Cotai in Cotai. The company is allowed to operate 750 gaming tables during its new 10-year concession period of 2023-32.
79GF Score

Get the complete analysis for MCHVF

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

$1.28
Price
$2.25
GF Value