The Philippine Stock Exchange (PHS:PSE) Scaled Net Operating Assets: 0.24 (As of Mar. 2026)


PHS:PSE The Philippine Stock Exchange Inc PHS:PSE
91 GF Score
Price ₱202.80
GF Value ₱377.51
Valuation Significantly Undervalued
! 4 Warning Signs
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What is The Philippine Stock Exchange Scaled Net Operating Assets?

The Philippine Stock Exchange PHS:PSE +1.40% 91 Scaled Net Operating Assets is 0.24 as of Mar. 2026. GuruFocus rates PHS:PSE with a GF Score™ of 91/100 and a GF Value™ of ₱377.51 (Significantly Undervalued). The stock has 4 warning signs investors should review.

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

The Philippine Stock Exchange's operating assets for the quarter that ended in Mar. 2026 was ₱4,615 Mil. The Philippine Stock Exchange's operating liabilities for the quarter that ended in Mar. 2026 was ₱2,484 Mil. The Philippine Stock Exchange's Total Assets for the quarter that ended in Dec. 2025 was ₱8,751 Mil. Therefore, The Philippine Stock Exchange's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.24.


The Philippine Stock Exchange Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for The Philippine Stock Exchange'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.

The Philippine Stock Exchange Scaled Net Operating Assets Chart

The Philippine Stock Exchange Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.19 0.25 0.25 0.38 0.28

The Philippine Stock Exchange 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.22 0.20 0.23 0.28 0.24

PHS:PSE vs SPGI, CME, ICE: Scaled Net Operating Assets Comparison

For the Financial Data & Stock Exchanges subindustry, The Philippine Stock Exchange'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.


The Philippine Stock Exchange Scaled Net Operating Assets vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, The Philippine Stock Exchange's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where The Philippine Stock Exchange's Scaled Net Operating Assets falls into.


PHS:PSE
91GF Score
The Philippine Stock Exchange Inc PHS:PSE
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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The Philippine Stock Exchange 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.

The Philippine Stock Exchange'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 )
=(4643.381-2245.3)/8537.563
=0.28

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=8750.901 - 4107.52
=4643.381

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3234.161 - 870.688 - 118.173
=2245.3

The Philippine Stock Exchange'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 )
=(4615.488-2483.85)/8750.901
=0.24

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=9261.823 - 4646.335
=4615.488

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3378.075 - 779.038 - 115.187
=2483.85

* 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 0.24 mean?
The Philippine Stock Exchange (PHS:PSE) has a Scaled Net Operating Assets of 0.24 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 The Philippine Stock Exchange and its competitors.
Is The Philippine Stock Exchange's Scaled Net Operating Assets too high?
The Philippine Stock Exchange's current Scaled Net Operating Assets is 0.24. Overall, The Philippine Stock Exchange has a GF Score™ of 91/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does The Philippine Stock Exchange's Scaled Net Operating Assets compare to SPGI and CME?
The Philippine Stock Exchange's Scaled Net Operating Assets of 0.24 can be compared against companies in the Capital Markets 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 Capital Markets company?
A good Scaled Net Operating Assets depends on the Capital Markets 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 The Philippine Stock Exchange and its competitors. The Philippine Stock Exchange's current Scaled Net Operating Assets is 0.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Philippine Stock Exchange stock overvalued right now?
Based on GuruFocus' analysis, The Philippine Stock Exchange (PHS:PSE) is currently considered Significantly Undervalued. The stock's GF Value™ is ₱377.51, compared to a current price of ₱202.80 — trading 46.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.24. The Philippine Stock Exchange's overall GF Score™ is 91/100 with 4 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 The Philippine Stock Exchange (PHS:PSE), the current Scaled Net Operating Assets is 0.24 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 The Philippine Stock Exchange (PHS:PSE) Overvalued in 2026?

Based on GuruFocus' analysis, The Philippine Stock Exchange stock appears to be undervalued. The current stock price of ₱202.80 is trading 46.3% below its estimated GF Value™ of ₱377.51. GuruFocus considers The Philippine Stock Exchange to be Significantly Undervalued.

Key valuation signals for PHS:PSE:

  • Scaled Net Operating Assets: 0.24
  • GF Value™: ₱377.51 vs. price of ₱202.80 (46.3% below fair value)
  • GF Score™: 91/100 with 4 warning signs

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


The Philippine Stock Exchange Business Description

Address 28th Street, 5th Avenue corner, 6th to 10th floors, PSE Tower, Bonifacio Global City, Taguig, PHL, 1634
The Philippine Stock Exchange Inc is a Philippines-based stock corporation. The company's business is to provide and maintain a convenient and suitable market for the exchange, purchase, and sale of all types of securities and other instruments. The company's business segments include: Equity, Clearing and Settlement Business; and Depository and Fixed Income Business. It derives maximum revenue from Equity, Clearing and Settlement Business. The sources of revenue also consist of listing-related fees for initial public offerings, annual listing maintenance membership, transactions, data feeds, and miscellaneous fees.
91GF Score

Get the complete analysis for PHS:PSE

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

₱202.80
Price
₱377.51
GF Value