Nu Holdings (MEX:NUN) Scaled Net Operating Assets: -0.21 (As of Mar. 2026)


MEX:NUN Nu Holdings Ltd MEX:NUN
73 GF Score
Price MXN220.80
GF Value MXN444.06
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Nu Holdings Scaled Net Operating Assets?

Nu Holdings MEX:NUN -1.04% 73 Scaled Net Operating Assets is -0.21 as of Mar. 2026. GuruFocus rates MEX:NUN with a GF Score™ of 73/100 and a GF Value™ of MXN444.06 (Significantly Undervalued). The stock has 2 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.

Nu Holdings's operating assets for the quarter that ended in Mar. 2026 was MXN849,987 Mil. Nu Holdings's operating liabilities for the quarter that ended in Mar. 2026 was MXN1,135,105 Mil. Nu Holdings's Total Assets for the quarter that ended in Dec. 2025 was MXN1,348,517 Mil. Therefore, Nu Holdings's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was -0.21.

MEX:NUN
73GF Score
Nu Holdings Ltd MEX:NUN
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Nu 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.

Nu 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 )
=(971659.091-1110492.402)/1041350.419
=-0.13

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1348516.682 - 376857.591
=971659.091

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1144664.033 - 5383.758 - 28787.873
=1110492.402

Nu Holdings's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(849986.716-1135104.711)/1348516.682
=-0.21

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=1396748.152 - 546761.436
=849986.716

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1169683.531 - 891.158 - 33687.662
=1135104.711

* 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 -0.21 mean?
Nu Holdings (MEX:NUN) has a Scaled Net Operating Assets of -0.21 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Nu Holdings and its competitors.
Is Nu Holdings' Scaled Net Operating Assets too high?
Nu Holdings' current Scaled Net Operating Assets is -0.21. Overall, Nu Holdings has a GF Score™ of 73/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nu Holdings' Scaled Net Operating Assets compare to TFC and FITB?
Nu Holdings' Scaled Net Operating Assets of -0.21 can be compared against companies in the Banks 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 Banks company?
A good Scaled Net Operating Assets depends on the Banks 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 Nu Holdings and its competitors. Nu Holdings's current Scaled Net Operating Assets is -0.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nu Holdings stock overvalued right now?
Based on GuruFocus' analysis, Nu Holdings (MEX:NUN) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN444.06, compared to a current price of MXN220.80 — trading 50.3% below its estimated fair value. The current Scaled Net Operating Assets is -0.21. Nu Holdings' overall GF Score™ is 73/100 with 2 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 Nu Holdings (MEX:NUN), the current Scaled Net Operating Assets is -0.21 as of Mar. 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 Nu Holdings (MEX:NUN) Overvalued in 2026?

Based on GuruFocus' analysis, Nu Holdings stock appears to be undervalued. The current stock price of MXN220.80 is trading 50.3% below its estimated GF Value™ of MXN444.06. GuruFocus considers Nu Holdings to be Significantly Undervalued.

Key valuation signals for MEX:NUN:

  • Scaled Net Operating Assets: -0.21
  • GF Value™: MXN444.06 vs. price of MXN220.80 (50.3% below fair value)
  • GF Score™: 73/100 with 2 warning signs

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

Nu Holdings Business Description

Address c/o Campbells Corporate Services Limited, Willow House, Cricket Square, 4th Floor, Grand Cayman, CYM, KY1-9010
Nu Holdings Ltd is a Brazilian financial technology firm that offers digital banking services. Its services include Retail credit, SME credit, Payments, Customer assets, Insurance brokerage, E-commerce marketplace, and Mobile virtual network operator. It operates in single operating segment and geographically it operates in Brazil, Mexico, and Other countries with the majority of revenue deriving from Brazil.
73GF Score

Get the complete analysis for MEX:NUN

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

MXN220.80
Price
MXN444.06
GF Value