PAI (Western Asset Investment Gradeome Fund) Scaled Net Operating Assets: 0.98 (As of Dec. 2025)

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PAI Western Asset Investment Grade Income Fund Inc PAI
57 GF Score
Price $11.89
GF Value $16.49
Valuation Modestly Undervalued
! 1 Warning Sign
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What is Western Asset Investment Gradeome Fund Scaled Net Operating Assets?

Western Asset Investment Gradeome Fund PAI -0.17% 57 Scaled Net Operating Assets is 0.98 as of Dec. 2025. GuruFocus rates PAI with a GF Score™ of 57/100 and a GF Value™ of $16.49 (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.

Western Asset Investment Gradeome Fund's operating assets for the quarter that ended in Dec. 2025 was $127.41 Mil. Western Asset Investment Gradeome Fund's operating liabilities for the quarter that ended in Dec. 2025 was $1.54 Mil. Western Asset Investment Gradeome Fund's Total Assets for the quarter that ended in Jun. 2025 was $128.78 Mil. Therefore, Western Asset Investment Gradeome Fund's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.98.

PAI
57GF Score
Western Asset Investment Grade Income Fund Inc PAI
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Western Asset Investment Gradeome 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.

Western Asset Investment Gradeome Fund'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 )
=(127.414-1.539)/122.89
=1.02

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=127.431 - 0.017
=127.414

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1.539 - 0 - 0
=1.539

Western Asset Investment Gradeome Fund'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: Jun. 2025 )
=(127.414-1.539)/128.783
=0.98

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=127.431 - 0.017
=127.414

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1.539 - 0 - 0
=1.539

* 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 0.98 mean?
Western Asset Investment Gradeome Fund (PAI) has a Scaled Net Operating Assets of 0.98 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 Western Asset Investment Gradeome Fund and its competitors.
Is Western Asset Investment Gradeome Fund's Scaled Net Operating Assets too high?
Western Asset Investment Gradeome Fund's current Scaled Net Operating Assets is 0.98. Overall, Western Asset Investment Gradeome Fund has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Western Asset Investment Gradeome Fund's Scaled Net Operating Assets compare to MCN and JHI?
Western Asset Investment Gradeome Fund's Scaled Net Operating Assets of 0.98 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 Western Asset Investment Gradeome Fund and its competitors. Western Asset Investment Gradeome Fund's current Scaled Net Operating Assets is 0.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Western Asset Investment Gradeome Fund stock overvalued right now?
Based on GuruFocus' analysis, Western Asset Investment Gradeome Fund (PAI) is currently considered Modestly Undervalued. The stock's GF Value™ is $16.49, compared to a current price of $11.89 — trading 27.9% below its estimated fair value. The current Scaled Net Operating Assets is 0.98. Western Asset Investment Gradeome Fund's overall GF Score™ is 57/100 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 Western Asset Investment Gradeome Fund (PAI), the current Scaled Net Operating Assets is 0.98 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 Western Asset Investment Gradeome Fund (PAI) Overvalued in 2026?

Based on GuruFocus' analysis, Western Asset Investment Gradeome Fund stock appears to be undervalued. The current stock price of $11.89 is trading 27.9% below its estimated GF Value™ of $16.49. GuruFocus considers Western Asset Investment Gradeome Fund to be Modestly Undervalued.

Key valuation signals for PAI:

  • Scaled Net Operating Assets: 0.98
  • GF Value™: $16.49 vs. price of $11.89 (27.9% below fair value)
  • GF Score™: 57/100 with 1 warning sign

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


Western Asset Investment Gradeome Fund Business Description

Address One Madison Avenue, 17th Floor, New York, NY, USA, 10010
Western Asset Investment Grade Income Fund Inc is a closed-end diversified investment company. Its primary investment objective is to seek a high level of current income, consistent with prudent investment risk, through investment in a diversified portfolio of debt securities. To a lesser extent, the fund also invests in privately placed debt securities and in certain equity securities. Capital appreciation is its secondary investment objective. The fund invests a majority of its net assets in fixed income securities that are rated in the Baa or BBB categories or above at the time of purchase by one or more Nationally Recognized Statistical Rating Organizations (NRSROs) or unrated securities of comparable quality at the time of purchase (as determined by the investment adviser).
57GF Score

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

$11.89
Price
$16.49
GF Value