Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Manila Electric Co's operating assets for the quarter that ended in Mar. 2026 was ₱716,722 Mil. Manila Electric Co's operating liabilities for the quarter that ended in Mar. 2026 was ₱376,021 Mil. Manila Electric Co's Total Assets for the quarter that ended in Dec. 2025 was ₱823,879 Mil. Therefore, Manila Electric Co's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.41.
Manila Electric Co Scaled Net Operating Assets Related Terms
Manila Electric Co Scaled Net Operating Assets Historical Data
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The historical data trend for Manila Electric Co'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.
Manila Electric Co Scaled Net Operating Assets Chart
PHS:MER vs NEE, SO, DUK: Scaled Net Operating Assets Comparison
For the Utilities - Regulated Electric subindustry, Manila Electric Co'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.
Manila Electric Co Scaled Net Operating Assets vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Manila Electric Co's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Manila Electric Co'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 0.41 mean?
Manila Electric Co (PHS:MER) has a Scaled Net Operating Assets of 0.41 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 Manila Electric Co and its competitors.
Is Manila Electric Co's Scaled Net Operating Assets too high?
Manila Electric Co's current Scaled Net Operating Assets is 0.41. Overall, Manila Electric Co has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Manila Electric Co's Scaled Net Operating Assets compare to NEE and SO?
Manila Electric Co's Scaled Net Operating Assets of 0.41 can be compared against companies in the Utilities - Regulated 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 Utilities - Regulated company?
A good Scaled Net Operating Assets depends on the Utilities - Regulated 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 Manila Electric Co and its competitors. Manila Electric Co's current Scaled Net Operating Assets is 0.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Manila Electric Co stock overvalued right now?
Based on GuruFocus' analysis, Manila Electric Co (PHS:MER) is currently considered Fairly Valued. The stock's GF Value™ is ₱528.22, compared to a current price of ₱573.00 — trading 8.5% above its estimated fair value. The current Scaled Net Operating Assets is 0.41. Manila Electric Co's overall GF Score™ is 93/100 with 9 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 Manila Electric Co (PHS:MER), the current Scaled Net Operating Assets is 0.41 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 Manila Electric Co (PHS:MER) Overvalued in 2026?
Based on GuruFocus' analysis, Manila Electric Co stock appears to be overvalued.
The current stock price of ₱573.00 is trading 8.5% above its estimated GF Value™ of ₱528.22.
GuruFocus considers Manila Electric Co to be Fairly Valued.
Key valuation signals for PHS:MER:
Scaled Net Operating Assets: 0.41
GF Value™: ₱528.22 vs. price of ₱573.00 (8.5% above fair value)
No single metric tells the full story. See the PHS:MER stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Manila Electric Co is an electric utility company operating in the Philippines. Along with its subsidiaries, it is mainly engaged in the distribution and sale of electric energy through the distribution network facilities in its franchise area. The company's market is categorized into four classes, namely, residential, commercial, industrial, and streetlights. Additionally, it is involved in certain unregulated activities, which consist of power generation; retail electricity supply (RES); energy infrastructure, payment fulfilment, bills collection, after-the-meter and energy management, telecommunications services, insurance and re-insurance, and other businesses. The group's reportable segments are: Power and Other Services. The majority of its revenue is derived from the Power segment.
93GF Score
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