Shandong Iron & Steel Co (SHSE:600022) Scaled Net Operating Assets: 0.56 (As of Mar. 2026)


SHSE:600022 Shandong Iron & Steel Co Ltd SHSE:600022
50 GF Score
Price ¥1.27
GF Value ¥1.10
Valuation Modestly Overvalued
! 9 Warning Signs
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What is Shandong Iron & Steel Co Scaled Net Operating Assets?

Shandong Iron & Steel Co SHSE:600022 50 Scaled Net Operating Assets is 0.56 as of Mar. 2026. GuruFocus rates SHSE:600022 with a GF Score™ of 50/100 and a GF Value™ of ¥1.10 (Modestly Overvalued). 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.

Shandong Iron & Steel Co's operating assets for the quarter that ended in Mar. 2026 was ¥75,993 Mil. Shandong Iron & Steel Co's operating liabilities for the quarter that ended in Mar. 2026 was ¥30,659 Mil. Shandong Iron & Steel Co's Total Assets for the quarter that ended in Dec. 2025 was ¥81,200 Mil. Therefore, Shandong Iron & Steel Co's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.56.


Shandong Iron & Steel Co Scaled Net Operating Assets Historical Data

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The historical data trend for Shandong Iron & Steel 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.

Shandong Iron & Steel Co Scaled Net Operating Assets Chart

Shandong Iron & Steel Co 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 0.52 0.51 0.53 0.71 0.54

Shandong Iron & Steel Co 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 0.42 0.51 0.53 0.67 0.56

SHSE:600022 vs NUE, STLD, RS: Scaled Net Operating Assets Comparison

For the Steel subindustry, Shandong Iron & Steel 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.


Shandong Iron & Steel Co Scaled Net Operating Assets vs Steel Industry

For the Steel industry and Basic Materials sector, Shandong Iron & Steel Co's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Shandong Iron & Steel Co's Scaled Net Operating Assets falls into.


SHSE:600022
50GF Score
Shandong Iron & Steel Co Ltd SHSE:600022
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Shandong Iron & Steel Co 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.

Shandong Iron & Steel Co'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 )
=(75188.351-30369.385)/83635.577
=0.54

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=81199.915 - 6011.564
=75188.351

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=52545.899 - 7733.845 - 14442.669
=30369.385

Shandong Iron & Steel Co'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 )
=(75993.193-30658.878)/81199.915
=0.56

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=81698.03 - 5704.837
=75993.193

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=53230.413 - 8492.183 - 14079.352
=30658.878

* 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 0.56 mean?
Shandong Iron & Steel Co (SHSE:600022) has a Scaled Net Operating Assets of 0.56 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 Shandong Iron & Steel Co and its competitors.
Is Shandong Iron & Steel Co's Scaled Net Operating Assets too high?
Shandong Iron & Steel Co's current Scaled Net Operating Assets is 0.56. Overall, Shandong Iron & Steel Co has a GF Score™ of 50/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shandong Iron & Steel Co's Scaled Net Operating Assets compare to NUE and STLD?
Shandong Iron & Steel Co's Scaled Net Operating Assets of 0.56 can be compared against companies in the Steel 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 Steel company?
A good Scaled Net Operating Assets depends on the Steel 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 Shandong Iron & Steel Co and its competitors. Shandong Iron & Steel Co's current Scaled Net Operating Assets is 0.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shandong Iron & Steel Co stock overvalued right now?
Based on GuruFocus' analysis, Shandong Iron & Steel Co (SHSE:600022) is currently considered Modestly Overvalued. The stock's GF Value™ is ¥1.10, compared to a current price of ¥1.27 — trading 15.5% above its estimated fair value. The current Scaled Net Operating Assets is 0.56. Shandong Iron & Steel Co's overall GF Score™ is 50/100 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 Shandong Iron & Steel Co (SHSE:600022), the current Scaled Net Operating Assets is 0.56 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 Shandong Iron & Steel Co (SHSE:600022) Overvalued in 2026?

Based on GuruFocus' analysis, Shandong Iron & Steel Co stock appears to be overvalued. The current stock price of ¥1.27 is trading 15.5% above its estimated GF Value™ of ¥1.10. GuruFocus considers Shandong Iron & Steel Co to be Modestly Overvalued.

Key valuation signals for SHSE:600022:

  • Scaled Net Operating Assets: 0.56
  • GF Value™: ¥1.10 vs. price of ¥1.27 (15.5% above fair value)
  • GF Score™: 50/100 with 9 warning signs

No single metric tells the full story. See the SHSE:600022 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Shandong Iron & Steel Co Business Description

Address No. 21, Gongye North Road, Licheng District, Shandong Province, Jinan, CHN, 250101
Shandong Iron & Steel Co Ltd is a China-based company engaged in manufacturing and marketing steel materials. The company produces cold-formed steel, galvanized coil, composite board, hot rolled equal angle steel, hot-rolled channel steel and other products.
50GF 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.

¥1.27
Price
¥1.10
GF Value