NBH (Neuberger Berman Municipal Fund) Scaled Net Operating Assets: 0.59 (As of Oct. 2025)


NBH Neuberger Berman Municipal Fund Inc NBH
58 GF Score
Price $10.52
GF Value $12.91
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Neuberger Berman Municipal Fund Scaled Net Operating Assets?

Neuberger Berman Municipal Fund NBH +0.77% 58 Scaled Net Operating Assets is 0.59 as of Oct. 2025. GuruFocus rates NBH with a GF Score™ of 58/100 and a GF Value™ of $12.91 (Modestly Undervalued). The stock has 4 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.

Neuberger Berman Municipal Fund's operating assets for the quarter that ended in Oct. 2025 was $569.46 Mil. Neuberger Berman Municipal Fund's operating liabilities for the quarter that ended in Oct. 2025 was $231.69 Mil. Neuberger Berman Municipal Fund's Total Assets for the quarter that ended in Apr. 2025 was $567.89 Mil. Therefore, Neuberger Berman Municipal Fund's scaled net operating assets (SNOA) for the quarter that ended in Oct. 2025 was 0.59.

NBH
58GF Score
Neuberger Berman Municipal Fund Inc NBH
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Neuberger Berman Municipal Fund 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.

Neuberger Berman Municipal Fund's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Oct. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Oct. 2025 )
=(Operating Assets (A: Oct. 2025 )-Operating Liabilities (A: Oct. 2025 ))/Total Assets (A: Oct. 2024 )
=(569.459-231.686)/586.933
=0.58

where

Operating Assets(A: Oct. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=569.514 - 0.055
=569.459

Operating Liabilities(A: Oct. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=231.686 - 0 - 0
=231.686

Neuberger Berman Municipal Fund's Scaled Net Operating Assets (SNOA) for the quarter that ended in Oct. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Oct. 2025 )
=(Operating Assets (Q: Oct. 2025 )-Operating Liabilities (Q: Oct. 2025 ))/Total Assets (Q: Apr. 2025 )
=(569.459-231.686)/567.885
=0.59

where

Operating Assets(Q: Oct. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=569.514 - 0.055
=569.459

Operating Liabilities(Q: Oct. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=231.686 - 0 - 0
=231.686

* 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?
Neuberger Berman Municipal Fund (NBH) has a Scaled Net Operating Assets of 0.59 as of Oct. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Neuberger Berman Municipal Fund and its competitors.
Is Neuberger Berman Municipal Fund's Scaled Net Operating Assets too high?
Neuberger Berman Municipal Fund's current Scaled Net Operating Assets is 0.59. Overall, Neuberger Berman Municipal Fund has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Neuberger Berman Municipal Fund's Scaled Net Operating Assets compare to NCA and FUND?
Neuberger Berman Municipal Fund's Scaled Net Operating Assets of 0.59 can be compared against companies in the Asset Management 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 Asset Management company?
A good Scaled Net Operating Assets depends on the Asset Management 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 Neuberger Berman Municipal Fund and its competitors. Neuberger Berman Municipal Fund'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 Neuberger Berman Municipal Fund stock overvalued right now?
Based on GuruFocus' analysis, Neuberger Berman Municipal Fund (NBH) is currently considered Modestly Undervalued. The stock's GF Value™ is $12.91, compared to a current price of $10.52 — trading 18.5% below its estimated fair value. The current Scaled Net Operating Assets is 0.59. Neuberger Berman Municipal Fund's overall GF Score™ is 58/100 with 4 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 Neuberger Berman Municipal Fund (NBH), the current Scaled Net Operating Assets is 0.59 as of Oct. 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 Neuberger Berman Municipal Fund (NBH) Overvalued in 2026?

Based on GuruFocus' analysis, Neuberger Berman Municipal Fund stock appears to be undervalued. The current stock price of $10.52 is trading 18.5% below its estimated GF Value™ of $12.91. GuruFocus considers Neuberger Berman Municipal Fund to be Modestly Undervalued.

Key valuation signals for NBH:

  • Scaled Net Operating Assets: 0.59
  • GF Value™: $12.91 vs. price of $10.52 (18.5% below fair value)
  • GF Score™: 58/100 with 4 warning signs

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

Neuberger Berman Municipal Fund Business Description

Address c/o Neuberger Berman Investment Advisers LLC, 1290 Avenue of the Americas, New York, NY, USA, 10104-0002
Neuberger Berman Municipal Fund Inc is a closed-end management investment company that invests mainly in municipal securities. The company aims to provide common stockholders a high level of current income exempt from Federal income tax.
58GF Score

Get the complete analysis for NBH

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

$10.52
Price
$12.91
GF Value