Tivoli AS (OCSE:TIV) Scaled Net Operating Assets: 0.82 (As of Mar. 2026)

Tivoli AS OCSE:TIV 82 Scaled Net Operating Assets is 0.82 as of Mar. 2026. GuruFocus rates OCSE:TIV with a GF Score™ of 82/100 and a GF Value™ of kr740.13 (Modestly Undervalued). 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.

Tivoli AS's operating assets for the quarter that ended in Mar. 2026 was kr1,852 Mil. Tivoli AS's operating liabilities for the quarter that ended in Mar. 2026 was kr321 Mil. Tivoli AS's Total Assets for the quarter that ended in Dec. 2025 was kr1,864 Mil. Therefore, Tivoli AS's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.82.

Tivoli AS Scaled Net Operating Assets Related Terms

Tivoli AS Scaled Net Operating Assets Historical Data

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The historical data trend for Tivoli AS'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.

Tivoli AS Scaled Net Operating Assets Chart

Tivoli AS Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Scaled Net Operating Assets

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0.73

0.82

0.79

0.82

0.83

Tivoli AS Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Scaled Net Operating Assets	Get a 7-Day Free Trial															0.79	0.84	0.82	0.83	0.82

OCSE:TIV vs AS, HAS, LTH: Scaled Net Operating Assets Comparison

For the Leisure subindustry, Tivoli AS'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.

Tivoli AS Scaled Net Operating Assets vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Tivoli AS's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Tivoli AS's Scaled Net Operating Assets falls into.

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82GF Score

Tivoli AS OCSE:TIV

Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.

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Tivoli AS 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.

Tivoli AS'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 )
=	(1819.8	-	327.7)	/	1792.7
=	0.83

where

	Operating Assets		(A: Dec. 2025 )
=	Total Assets	-	Cash, Cash Equivalents, Marketable Securities
=	1864.4	-	44.6
=	1819.8

	Operating Liabilities		(A: Dec. 2025 )
=	Total Liabilities	-	Long-Term Debt & Capital Lease Obligation	-	Short-Term Debt & Capital Lease Obligation
=	624	-	257	-	39.3
=	327.7

Tivoli AS'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 )
=	(1852.2	-	320.8)	/	1864.4
=	0.82

where

	Operating Assets		(Q: Mar. 2026 )
=	Total Assets	-	Cash, Cash Equivalents, Marketable Securities
=	1875.2	-	23
=	1852.2

	Operating Liabilities		(Q: Mar. 2026 )
=	Total Liabilities	-	Long-Term Debt & Capital Lease Obligation	-	Short-Term Debt & Capital Lease Obligation
=	740	-	306.5	-	112.7
=	320.8

Frequently Asked Questions Learn more about Scaled Net Operating Assets →

What does a Scaled Net Operating Assets of 0.82 mean?

Tivoli AS (OCSE:TIV) has a Scaled Net Operating Assets of 0.82 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 Tivoli AS and its competitors.

Is Tivoli AS's Scaled Net Operating Assets too high?

Tivoli AS's current Scaled Net Operating Assets is 0.82. Overall, Tivoli AS has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Tivoli AS's Scaled Net Operating Assets compare to AS and HAS?

Tivoli AS's Scaled Net Operating Assets of 0.82 can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?

A good Scaled Net Operating Assets depends on the Travel & Leisure 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 Tivoli AS and its competitors. Tivoli AS's current Scaled Net Operating Assets is 0.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Tivoli AS stock overvalued right now?

Based on GuruFocus' analysis, Tivoli AS (OCSE:TIV) is currently considered Modestly Undervalued. The stock's GF Value™ is kr740.13, compared to a current price of kr632.00 — trading 14.6% below its estimated fair value. The current Scaled Net Operating Assets is 0.82. Tivoli AS's overall GF Score™ is 82/100 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 Tivoli AS (OCSE:TIV), the current Scaled Net Operating Assets is 0.82 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 Tivoli AS (OCSE:TIV) Overvalued in 2026?

Based on GuruFocus' analysis, Tivoli AS stock appears to be undervalued. The current stock price of kr632.00 is trading 14.6% below its estimated GF Value™ of kr740.13. GuruFocus considers Tivoli AS to be Modestly Undervalued.

Key valuation signals for OCSE:TIV:

Scaled Net Operating Assets: 0.82
GF Value™: kr740.13 vs. price of kr632.00 (14.6% below fair value)
GF Score™: 82/100 with 1 warning sign

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

Tivoli AS Business Description

Industry Consumer Cyclical Travel & Leisure

Comparable Companies OCSE:AAB HKSE:09992 TSE:4661 HKSE:02020 AS TSE:7832 HAS LSE:GAW TSE:7309 LTH GOLF HKSE:02331 TSE:7731 WAR:BFT XMAD:FDR PLNT MAT SHSE:689009 YETI OSTO:ASMDEE B

Address Vesterbrogade 3, Copenhagen, DNK, 1630

Website https://www.tivoli.dk

Tivoli AS operates Tivoli amusement park, located in central Copenhagen. It provides services like rides, music, entertainment, food, and drink. Its amusement park includes a green park, a concert hall, a theatre, and a circus. The company operates in six business segments: Games, Food & Beverage, High-End, Enterprise Rental, Sales, and Culture. It generates the majority of its revenue from the Sales segment.

82GF Score

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kr632.00

Price

kr740.13

GF Value

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