Mulkia Gulf Real Estate REIT (SAU:4336) Scaled Net Operating Assets: 0.96 (As of Dec. 2025)


SAU:4336 Mulkia Gulf Real Estate REIT SAU:4336
67 GF Score
Price ﷼4.59
GF Value ﷼5.51
Valuation Modestly Undervalued
! 9 Warning Signs
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What is Mulkia Gulf Real Estate REIT Scaled Net Operating Assets?

Mulkia Gulf Real Estate REIT SAU:4336 -0.43% 67 Scaled Net Operating Assets is 0.96 as of Dec. 2025. GuruFocus rates SAU:4336 with a GF Score™ of 67/100 and a GF Value™ of ﷼5.51 (Modestly Undervalued). The stock has 9 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.

Mulkia Gulf Real Estate REIT's operating assets for the quarter that ended in Dec. 2025 was ﷼1,460.4 Mil. Mulkia Gulf Real Estate REIT's operating liabilities for the quarter that ended in Dec. 2025 was ﷼49.8 Mil. Mulkia Gulf Real Estate REIT's Total Assets for the quarter that ended in Jun. 2025 was ﷼1,469.7 Mil. Therefore, Mulkia Gulf Real Estate REIT's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.96.


Mulkia Gulf Real Estate REIT Scaled Net Operating Assets Historical Data

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The historical data trend for Mulkia Gulf Real Estate REIT'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.

Mulkia Gulf Real Estate REIT Scaled Net Operating Assets Chart

Mulkia Gulf Real Estate REIT Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only 0.76 1.16 0.93 1.10 0.93

Mulkia Gulf Real Estate REIT Semi-Annual Data
Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 0.87 0.95 1.11 0.92 0.96

SAU:4336 vs VICI, WPC: Scaled Net Operating Assets Comparison

For the REIT - Diversified subindustry, Mulkia Gulf Real Estate REIT'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.


Mulkia Gulf Real Estate REIT Scaled Net Operating Assets vs REITs Industry

For the REITs industry and Real Estate sector, Mulkia Gulf Real Estate REIT's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Mulkia Gulf Real Estate REIT's Scaled Net Operating Assets falls into.


SAU:4336
67GF Score
Mulkia Gulf Real Estate REIT SAU:4336
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Mulkia Gulf Real Estate REIT 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.

Mulkia Gulf Real Estate REIT'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 )
=(1460.357-49.751)/1523.924
=0.93

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1477.8 - 17.443
=1460.357

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=769.895 - 699.851 - 20.293
=49.751

Mulkia Gulf Real Estate REIT'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 )
=(1460.357-49.751)/1469.729
=0.96

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1477.8 - 17.443
=1460.357

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=769.895 - 699.851 - 20.293
=49.751

* 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 0.96 mean?
Mulkia Gulf Real Estate REIT (SAU:4336) has a Scaled Net Operating Assets of 0.96 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 Mulkia Gulf Real Estate REIT and its competitors.
Is Mulkia Gulf Real Estate REIT's Scaled Net Operating Assets too high?
Mulkia Gulf Real Estate REIT's current Scaled Net Operating Assets is 0.96. Overall, Mulkia Gulf Real Estate REIT has a GF Score™ of 67/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mulkia Gulf Real Estate REIT's Scaled Net Operating Assets compare to VICI and WPC?
Mulkia Gulf Real Estate REIT's Scaled Net Operating Assets of 0.96 can be compared against companies in the REITs 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 REITs company?
A good Scaled Net Operating Assets depends on the REITs 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 Mulkia Gulf Real Estate REIT and its competitors. Mulkia Gulf Real Estate REIT's current Scaled Net Operating Assets is 0.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mulkia Gulf Real Estate REIT stock overvalued right now?
Based on GuruFocus' analysis, Mulkia Gulf Real Estate REIT (SAU:4336) is currently considered Modestly Undervalued. The stock's GF Value™ is ﷼5.51, compared to a current price of ﷼4.59 — trading 16.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.96. Mulkia Gulf Real Estate REIT's overall GF Score™ is 67/100 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 Mulkia Gulf Real Estate REIT (SAU:4336), the current Scaled Net Operating Assets is 0.96 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 Mulkia Gulf Real Estate REIT (SAU:4336) Overvalued in 2026?

Based on GuruFocus' analysis, Mulkia Gulf Real Estate REIT stock appears to be undervalued. The current stock price of ﷼4.59 is trading 16.7% below its estimated GF Value™ of ﷼5.51. GuruFocus considers Mulkia Gulf Real Estate REIT to be Modestly Undervalued.

Key valuation signals for SAU:4336:

  • Scaled Net Operating Assets: 0.96
  • GF Value™: ﷼5.51 vs. price of ﷼4.59 (16.7% below fair value)
  • GF Score™: 67/100 with 9 warning signs

No single metric tells the full story. See the SAU:4336 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Mulkia Gulf Real Estate REIT Business Description

Industry Real EstateREITs
Address Prince Abdul Aziz Bin Musaid Bin Jalawi, The Elite Building No. 8565, 1st floor, secondary Number: 2874, Al Sulaimaniayah District, Al-Olaya Area, Riyadh, SAU, 12234
Mulkia Gulf Real Estate REIT is a closed-end real estate investment fund company. The objective of the Fund is to acquire pre-developed real estate properties to obtain regular rental income. The company is engaged in acquiring several income-generating real estate properties. It generates the majority of its revenue from Rental contract income. It also generates a small portion of revenue from hotel operations.
67GF Score

Get the complete analysis for SAU:4336

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

﷼4.59
Price
﷼5.51
GF Value