RVT (Royce Small-Cap Trust) Scaled Net Operating Assets: 1.06 (As of Dec. 2025)


RVT Royce Small-Cap Trust Inc RVT
51 GF Score
Price $18.06
GF Value $16.62
Valuation Fairly Valued
! 4 Warning Signs
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What is Royce Small-Cap Trust Scaled Net Operating Assets?

Royce Small-Cap Trust RVT +0.95% 51 Scaled Net Operating Assets is 1.06 as of Dec. 2025. GuruFocus rates RVT with a GF Score™ of 51/100 and a GF Value™ of $16.62 (Fairly Valued). 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.

Royce Small-Cap Trust's operating assets for the quarter that ended in Dec. 2025 was $2,168.82 Mil. Royce Small-Cap Trust's operating liabilities for the quarter that ended in Dec. 2025 was $4.50 Mil. Royce Small-Cap Trust's Total Assets for the quarter that ended in Dec. 2024 was $2,036.29 Mil. Therefore, Royce Small-Cap Trust's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 1.06.

RVT
51GF Score
Royce Small-Cap Trust Inc RVT
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Royce Small-Cap Trust 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.

Royce Small-Cap Trust'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 )
=(2168.824-4.502)/2036.294
=1.06

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=2168.94 - 0.116
=2168.824

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4.502 - 0 - 0
=4.502

Royce Small-Cap Trust'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: Dec. 2024 )
=(2168.824-4.502)/2036.294
=1.06

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=2168.94 - 0.116
=2168.824

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4.502 - 0 - 0
=4.502

* 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 1.06 mean?
Royce Small-Cap Trust (RVT) has a Scaled Net Operating Assets of 1.06 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 Royce Small-Cap Trust and its competitors.
Is Royce Small-Cap Trust's Scaled Net Operating Assets too high?
Royce Small-Cap Trust's current Scaled Net Operating Assets is 1.06. Overall, Royce Small-Cap Trust has a GF Score™ of 51/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Royce Small-Cap Trust's Scaled Net Operating Assets compare to CLM and KYN?
Royce Small-Cap Trust's Scaled Net Operating Assets of 1.06 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 Royce Small-Cap Trust and its competitors. Royce Small-Cap Trust's current Scaled Net Operating Assets is 1.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Royce Small-Cap Trust stock overvalued right now?
Based on GuruFocus' analysis, Royce Small-Cap Trust (RVT) is currently considered Fairly Valued. The stock's GF Value™ is $16.62, compared to a current price of $18.06 — trading 8.7% above its estimated fair value. The current Scaled Net Operating Assets is 1.06. Royce Small-Cap Trust's overall GF Score™ is 51/100 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 Royce Small-Cap Trust (RVT), the current Scaled Net Operating Assets is 1.06 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 Royce Small-Cap Trust (RVT) Overvalued in 2026?

Based on GuruFocus' analysis, Royce Small-Cap Trust stock appears to be overvalued. The current stock price of $18.06 is trading 8.7% above its estimated GF Value™ of $16.62. GuruFocus considers Royce Small-Cap Trust to be Fairly Valued.

Key valuation signals for RVT:

  • Scaled Net Operating Assets: 1.06
  • GF Value™: $16.62 vs. price of $18.06 (8.7% above fair value)
  • GF Score™: 51/100 with 4 warning signs

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

Royce Small-Cap Trust Business Description

Address One Madison Avenue, New York, NY, USA, 10010
Royce Small-Cap Trust Inc is a diversified closed-end investment company that invests in equity securities of small-cap companies. The company portfolio includes sectors such as Industrials, Financials, Information Technology, Health Care, and Consumer Discretionary.
51GF 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.

$18.06
Price
$16.62
GF Value