Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Terna SpA's operating assets for the quarter that ended in Mar. 2026 was €24,819 Mil. Terna SpA's operating liabilities for the quarter that ended in Mar. 2026 was €3,727 Mil. Terna SpA's Total Assets for the quarter that ended in Dec. 2025 was €29,983 Mil. Therefore, Terna SpA's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.70.
Terna SpA Scaled Net Operating Assets Related Terms
Terna SpA Scaled Net Operating Assets Historical Data
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The historical data trend for Terna SpA'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.
MIL:TRN vs NEE, SO, DUK: Scaled Net Operating Assets Comparison
For the Utilities - Regulated Electric subindustry, Terna SpA'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.
Terna SpA Scaled Net Operating Assets vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Terna SpA's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Terna SpA's Scaled Net Operating Assets falls into.
* 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 0.70 mean?
Terna SpA (MIL:TRN) has a Scaled Net Operating Assets of 0.70 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 Terna SpA and its competitors.
Is Terna SpA's Scaled Net Operating Assets too high?
Terna SpA's current Scaled Net Operating Assets is 0.70. Overall, Terna SpA has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Terna SpA's Scaled Net Operating Assets compare to NEE and SO?
Terna SpA's Scaled Net Operating Assets of 0.70 can be compared against companies in the Utilities - Regulated 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 Utilities - Regulated company?
A good Scaled Net Operating Assets depends on the Utilities - Regulated 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 Terna SpA and its competitors. Terna SpA's current Scaled Net Operating Assets is 0.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Terna SpA stock overvalued right now?
Based on GuruFocus' analysis, Terna SpA (MIL:TRN) is currently considered Fairly Valued. The stock's GF Value™ is €9.86, compared to a current price of €10.10 — trading 2.4% above its estimated fair value. The current Scaled Net Operating Assets is 0.70. Terna SpA's overall GF Score™ is 86/100 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 Terna SpA (MIL:TRN), the current Scaled Net Operating Assets is 0.70 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 Terna SpA (MIL:TRN) Overvalued in 2026?
Based on GuruFocus' analysis, Terna SpA stock appears to be overvalued.
The current stock price of €10.10 is trading 2.4% above its estimated GF Value™ of €9.86.
GuruFocus considers Terna SpA to be Fairly Valued.
Key valuation signals for MIL:TRN:
Scaled Net Operating Assets: 0.70
GF Value™: €9.86 vs. price of €10.10 (2.4% above fair value)
No single metric tells the full story. See the MIL:TRN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Terna SpA is an electricity transmission system operator that owns virtually all of the Italian National Transmission Grid. With a monopoly under an Italian government license, Terna transmits and dispatches electricity throughout the country. It is also responsible for the planning, construction, and maintenance of the nation's electrical grid. Terna segments its operations into its Regulated Activities, Non-Regulated Activities, and International Activities. The company generates the vast majority of its revenue from charging transmission fees as a part of its Regulated Activities. Under its Non-Regulated Activities, Terna mainly produces and sells electricity transformers. The company has also made efforts to expand its operations into Italy's neighboring countries and North Africa.
86GF Score
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