Southwest Securities Co (SHSE:600369) Scaled Net Operating Assets: 0.04 (As of Mar. 2026)

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SHSE:600369 Southwest Securities Co Ltd SHSE:600369
52 GF Score
Price ¥4.08
GF Value ¥6.41
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Southwest Securities Co Scaled Net Operating Assets?

Southwest Securities Co SHSE:600369 -0.73% 52 Scaled Net Operating Assets is 0.04 as of Mar. 2026. GuruFocus rates SHSE:600369 with a GF Score™ of 52/100 and a GF Value™ of ¥6.41 (Significantly Undervalued). The stock has 3 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.

Southwest Securities Co's operating assets for the quarter that ended in Mar. 2026 was ¥53,780 Mil. Southwest Securities Co's operating liabilities for the quarter that ended in Mar. 2026 was ¥49,232 Mil. Southwest Securities Co's Total Assets for the quarter that ended in Dec. 2025 was ¥104,742 Mil. Therefore, Southwest Securities Co's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.04.

SHSE:600369
52GF Score
Southwest Securities Co Ltd SHSE:600369
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Southwest Securities 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.

Southwest Securities 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 )
=(55402.57-48709.883)/83249.447
=0.08

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=104741.556 - 49338.986
=55402.57

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=78492.21 - 29782.327 - 0
=48709.883

Southwest Securities 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 )
=(53779.652-49232.199)/104741.556
=0.04

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=105930.202 - 52150.55
=53779.652

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=79329.136 - 30096.937 - 0
=49232.199

* 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 0.04 mean?
Southwest Securities Co (SHSE:600369) has a Scaled Net Operating Assets of 0.04 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 Southwest Securities Co and its competitors.
Is Southwest Securities Co's Scaled Net Operating Assets too high?
Southwest Securities Co's current Scaled Net Operating Assets is 0.04. Overall, Southwest Securities Co has a GF Score™ of 52/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Southwest Securities Co's Scaled Net Operating Assets compare to MS and GS?
Southwest Securities Co's Scaled Net Operating Assets of 0.04 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 Southwest Securities Co and its competitors. Southwest Securities Co's current Scaled Net Operating Assets is 0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Southwest Securities Co stock overvalued right now?
Based on GuruFocus' analysis, Southwest Securities Co (SHSE:600369) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥6.41, compared to a current price of ¥4.08 — trading 36.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.04. Southwest Securities Co's overall GF Score™ is 52/100 with 3 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 Southwest Securities Co (SHSE:600369), the current Scaled Net Operating Assets is 0.04 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 Southwest Securities Co (SHSE:600369) Overvalued in 2026?

Based on GuruFocus' analysis, Southwest Securities Co stock appears to be undervalued. The current stock price of ¥4.08 is trading 36.3% below its estimated GF Value™ of ¥6.41. GuruFocus considers Southwest Securities Co to be Significantly Undervalued.

Key valuation signals for SHSE:600369:

  • Scaled Net Operating Assets: 0.04
  • GF Value™: ¥6.41 vs. price of ¥4.08 (36.3% below fair value)
  • GF Score™: 52/100 with 3 warning signs

No single metric tells the full story. See the SHSE:600369 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Southwest Securities Co Business Description

Address No. 32, Jinshamen Road, Southwest Securities Headquarters Building, Jiangbei District, Chongqing, CHN, 400025
Southwest Securities Co Ltd is a national securities company. Its business includes securities brokerage, securities underwriting and sponsorship, financial consulting, asset management, and margin financing. Through asset management, the company provides customers with its special and professional asset management services. It generates the majority of its revenue from the Brokerage business.
52GF Score

Get the complete analysis for SHSE:600369

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

¥4.08
Price
¥6.41
GF Value