Capital Securities (SHSE:601136) Scaled Net Operating Assets: 0.36 (As of Mar. 2026)

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SHSE:601136 Capital Securities Corp Ltd SHSE:601136
50 GF Score
Price ¥13.94
GF Value ¥23.56
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Capital Securities Scaled Net Operating Assets?

Capital Securities SHSE:601136 -0.92% 50 Scaled Net Operating Assets is 0.36 as of Mar. 2026. GuruFocus rates SHSE:601136 with a GF Score™ of 50/100 and a GF Value™ of ¥23.56 (Significantly Undervalued). The stock has 2 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.

Capital Securities's operating assets for the quarter that ended in Mar. 2026 was ¥41,449 Mil. Capital Securities's operating liabilities for the quarter that ended in Mar. 2026 was ¥22,538 Mil. Capital Securities's Total Assets for the quarter that ended in Dec. 2025 was ¥52,379 Mil. Therefore, Capital Securities's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.36.

SHSE:601136
50GF Score
Capital Securities Corp Ltd SHSE:601136
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Capital Securities 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.

Capital Securities'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 )
=(36297.886-19190.055)/46855.781
=0.37

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=52378.727 - 16080.841
=36297.886

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=38607.417 - 19417.362 - 0
=19190.055

Capital Securities'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 )
=(41448.741-22537.673)/52378.727
=0.36

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=58534.817 - 17086.076
=41448.741

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=42373.078 - 19835.405 - 0
=22537.673

* 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 0.36 mean?
Capital Securities (SHSE:601136) has a Scaled Net Operating Assets of 0.36 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 Capital Securities and its competitors.
Is Capital Securities' Scaled Net Operating Assets too high?
Capital Securities' current Scaled Net Operating Assets is 0.36. Overall, Capital Securities has a GF Score™ of 50/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Capital Securities' Scaled Net Operating Assets compare to MS and GS?
Capital Securities' Scaled Net Operating Assets of 0.36 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 Capital Securities and its competitors. Capital Securities's current Scaled Net Operating Assets is 0.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Capital Securities stock overvalued right now?
Based on GuruFocus' analysis, Capital Securities (SHSE:601136) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥23.56, compared to a current price of ¥13.94 — trading 40.8% below its estimated fair value. The current Scaled Net Operating Assets is 0.36. Capital Securities' overall GF Score™ is 50/100 with 2 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 Capital Securities (SHSE:601136), the current Scaled Net Operating Assets is 0.36 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 Capital Securities (SHSE:601136) Overvalued in 2026?

Based on GuruFocus' analysis, Capital Securities stock appears to be undervalued. The current stock price of ¥13.94 is trading 40.8% below its estimated GF Value™ of ¥23.56. GuruFocus considers Capital Securities to be Significantly Undervalued.

Key valuation signals for SHSE:601136:

  • Scaled Net Operating Assets: 0.36
  • GF Value™: ¥23.56 vs. price of ¥13.94 (40.8% below fair value)
  • GF Score™: 50/100 with 2 warning signs

No single metric tells the full story. See the SHSE:601136 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Capital Securities Business Description

Address Yard 5, Anding Road, Floor 11-21, Block A, Building 13, Chaoyang District, Beijing, CHN, 100029
Capital Securities Corp Ltd is a security company. The company's business scope includes securities brokerage, securities investment consulting, financial advisory related to securities trading and securities investment activities, securities underwriting and sponsorship, securities proprietary trading, securities investment fund sales, securities asset management, margin financing and securities lending, agency sales of financial products, Futures companies provide various financial services such as intermediary introduction business.
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.

¥13.94
Price
¥23.56
GF Value