Mutual Benefits Assurance (NSA:MBAS) Scaled Net Operating Assets: 0.10 (As of Dec. 2025)


NSA:MBAS Mutual Benefits Assurance PLC NSA:MBAS
59 GF Score
Price ₦3.65
GF Value ₦2.25
Valuation Significantly Overvalued
! 1 Warning Sign
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What is Mutual Benefits Assurance Scaled Net Operating Assets?

Mutual Benefits Assurance NSA:MBAS -4.95% 59 Scaled Net Operating Assets is 0.10 as of Dec. 2025. GuruFocus rates NSA:MBAS with a GF Score™ of 59/100 and a GF Value™ of ₦2.25 (Significantly Overvalued). The stock has 1 warning sign investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Mutual Benefits Assurance's operating assets for the quarter that ended in Dec. 2025 was ₦91,077.96 Mil. Mutual Benefits Assurance's operating liabilities for the quarter that ended in Dec. 2025 was ₦74,805.02 Mil. Mutual Benefits Assurance's Total Assets for the quarter that ended in Sep. 2025 was ₦168,467.80 Mil. Therefore, Mutual Benefits Assurance's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.10.

NSA:MBAS
59GF Score
Mutual Benefits Assurance PLC NSA:MBAS
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Mutual Benefits Assurance 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.

Mutual Benefits Assurance'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 )
=(91168.502-74805.024)/98603.556
=0.17

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=116659.069 - 25490.567
=91168.502

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=74805.024 - 0 - 0
=74805.024

Mutual Benefits Assurance'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: Sep. 2025 )
=(91077.959-74805.024)/168467.799
=0.10

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=116659.069 - 25581.11
=91077.959

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=74805.024 - 0 - 0
=74805.024

* 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 0.10 mean?
Mutual Benefits Assurance (NSA:MBAS) has a Scaled Net Operating Assets of 0.10 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 Mutual Benefits Assurance and its competitors.
Is Mutual Benefits Assurance's Scaled Net Operating Assets too high?
Mutual Benefits Assurance's current Scaled Net Operating Assets is 0.10. Overall, Mutual Benefits Assurance has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mutual Benefits Assurance's Scaled Net Operating Assets compare to BRK.A and AIG?
Mutual Benefits Assurance's Scaled Net Operating Assets of 0.10 can be compared against companies in the Insurance 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 Insurance company?
A good Scaled Net Operating Assets depends on the Insurance 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 Mutual Benefits Assurance and its competitors. Mutual Benefits Assurance's current Scaled Net Operating Assets is 0.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mutual Benefits Assurance stock overvalued right now?
Based on GuruFocus' analysis, Mutual Benefits Assurance (NSA:MBAS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦2.25, compared to a current price of ₦3.65 — trading 62.2% above its estimated fair value. The current Scaled Net Operating Assets is 0.10. Mutual Benefits Assurance's overall GF Score™ is 59/100 with 1 warning sign 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 Mutual Benefits Assurance (NSA:MBAS), the current Scaled Net Operating Assets is 0.10 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 Mutual Benefits Assurance (NSA:MBAS) Overvalued in 2026?

Based on GuruFocus' analysis, Mutual Benefits Assurance stock appears to be overvalued. The current stock price of ₦3.65 is trading 62.2% above its estimated GF Value™ of ₦2.25. GuruFocus considers Mutual Benefits Assurance to be Significantly Overvalued.

Key valuation signals for NSA:MBAS:

  • Scaled Net Operating Assets: 0.10
  • GF Value™: ₦2.25 vs. price of ₦3.65 (62.2% above fair value)
  • GF Score™: 59/100 with 1 warning sign

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

Mutual Benefits Assurance Business Description

Address 233 Ikorodu Road, Aret Adams House, Ilupeju, Lagos, NGA
Mutual Benefits Assurance PLC is a financial and wealth protection company in Nigeria. The principal objective of the Company is to render qualitative life related insurance & risks management services. It is a premium provider of life insurance, annuity and investment products and services. It has four reportable operating segments; assurance business, real estate, microfinance bank, and oil and gas exploration and production. The majority of revenue comes from Assurance business which covers the protection of customers' assets (Particularly their properties, both for personal and commercial business) and indemnification of other parties that have suffered damage as a result of customers accident. It has presence in Nigeria, and Liberia.
59GF Score

Get the complete analysis for NSA:MBAS

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

₦3.65
Price
₦2.25
GF Value