Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
NEL ASA's operating assets for the quarter that ended in Mar. 2026 was $332.48 Mil. NEL ASA's operating liabilities for the quarter that ended in Mar. 2026 was $68.09 Mil. NEL ASA's Total Assets for the quarter that ended in Dec. 2025 was $490.44 Mil. Therefore, NEL ASA's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.54.
NEL ASA Scaled Net Operating Assets Related Terms
NEL ASA Scaled Net Operating Assets Historical Data
* Premium members only.
The historical data trend for NEL ASA'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.
NLLSY vs GEV, ETN, PH: Scaled Net Operating Assets Comparison
For the Specialty Industrial Machinery subindustry, NEL ASA'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.
NEL ASA Scaled Net Operating Assets vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, NEL ASA's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where NEL ASA'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 0.54 mean?
NEL ASA (NLLSY) has a Scaled Net Operating Assets of 0.54 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 NEL ASA and its competitors.
Is NEL ASA's Scaled Net Operating Assets too high?
NEL ASA's current Scaled Net Operating Assets is 0.54. Overall, NEL ASA has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NEL ASA's Scaled Net Operating Assets compare to GEV and ETN?
NEL ASA's Scaled Net Operating Assets of 0.54 can be compared against companies in the Industrial Products 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 Industrial Products company?
A good Scaled Net Operating Assets depends on the Industrial Products 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 NEL ASA and its competitors. NEL ASA's current Scaled Net Operating Assets is 0.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NEL ASA stock overvalued right now?
Based on GuruFocus' analysis, NEL ASA (NLLSY) is currently considered Fairly Valued. The stock's GF Value™ is $8.22, compared to a current price of $7.76 — trading 5.6% below its estimated fair value. The current Scaled Net Operating Assets is 0.54. NEL ASA's overall GF Score™ is 79/100 with 5 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 NEL ASA (NLLSY), the current Scaled Net Operating Assets is 0.54 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 NEL ASA (NLLSY) Overvalued in 2026?
Based on GuruFocus' analysis, NEL ASA stock appears to be undervalued.
The current stock price of $7.76 is trading 5.6% below its estimated GF Value™ of $8.22.
GuruFocus considers NEL ASA to be Fairly Valued.
Key valuation signals for NLLSY:
Scaled Net Operating Assets: 0.54
GF Value™: $8.22 vs. price of $7.76 (5.6% below fair value)
No single metric tells the full story. See the NLLSY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NEL ASA is a hydrogen company delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. It serves industries, energy, and gas companies with hydrogen technology. The company's hydrogen solutions cover the entire value chain from hydrogen production technologies to the manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles. The company's segments include Nel Alkaline Electrolyser and Nel PEM Electrolyser. It generates maximum revenue from the Nel Alkaline Electrolyser. Nel Alkaline Electrolyser is a supplier of hydrogen production equipment based on alkaline water electrolysis technology.
79GF Score
Get the complete analysis for NLLSY
Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NLLSY has been successfully added to your 
