SPGGF (SP Group AS) Scaled Net Operating Assets: 0.53 (As of Mar. 2026)


SPGGF SP Group AS SPGGF
95 GF Score
Price $29.71
GF Value $23.63
! 8 Warning Signs
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What is SP Group AS Scaled Net Operating Assets?

SP Group AS SPGGF 95 Scaled Net Operating Assets is 0.53 as of Mar. 2026. GuruFocus rates SPGGF with a GF Score™ of 95/100 and a GF Value™ of $23.63. The stock has 8 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.

SP Group AS's operating assets for the quarter that ended in Mar. 2026 was $612.4 Mil. SP Group AS's operating liabilities for the quarter that ended in Mar. 2026 was $283.4 Mil. SP Group AS's Total Assets for the quarter that ended in Dec. 2025 was $626.2 Mil. Therefore, SP Group AS's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.53.

SP Group AS Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for SP Group AS'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.

SP Group AS Scaled Net Operating Assets Chart

SP Group AS 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 0.77 0.85 0.86 0.80 1.15

SP Group AS 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 0.64 0.64 0.64 1.02 0.53

SPGGF vs LIN, SHW, ECL: Scaled Net Operating Assets Comparison

For the Specialty Chemicals subindustry, SP Group AS'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.

SP Group AS Scaled Net Operating Assets vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, SP Group AS's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where SP Group AS's Scaled Net Operating Assets falls into.


SPGGF
95GF Score
SP Group AS SPGGF
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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SP Group AS 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.

SP Group AS'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 )
=(609.101-98.892)/443.943
=1.15

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=626.234 - 17.133
=609.101

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=342.608 - 169.214 - 74.502
=98.892

SP Group AS'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 )
=(612.423-283.42)/626.234
=0.53

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=633.52 - 21.097
=612.423

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=345.119 - 0 - 61.699
=283.42

* 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 0.53 mean?
SP Group AS (SPGGF) has a Scaled Net Operating Assets of 0.53 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 SP Group AS and its competitors.
Is SP Group AS's Scaled Net Operating Assets too high?
SP Group AS's current Scaled Net Operating Assets is 0.53. Overall, SP Group AS has a GF Score™ of 95/100, reflecting its overall financial health beyond just this single metric.
How does SP Group AS's Scaled Net Operating Assets compare to LIN and SHW?
SP Group AS's Scaled Net Operating Assets of 0.53 can be compared against companies in the Chemicals 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 Chemicals company?
A good Scaled Net Operating Assets depends on the Chemicals 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 SP Group AS and its competitors. SP Group AS's current Scaled Net Operating Assets is 0.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SP Group AS stock overvalued right now?
SP Group AS (SPGGF) has a current Scaled Net Operating Assets of 0.53. The stock's GF Value™ is $23.63, compared to a current price of $29.71 — trading 25.7% above its estimated fair value. The current Scaled Net Operating Assets is 0.53. SP Group AS's overall GF Score™ is 95/100 with 8 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 SP Group AS (SPGGF), the current Scaled Net Operating Assets is 0.53 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 SP Group AS (SPGGF) Overvalued in 2026?

Based on GuruFocus' analysis, SP Group AS stock appears to be overvalued. The current stock price of $29.71 is trading 25.7% above its estimated GF Value™ of $23.63.

Key valuation signals for SPGGF:

  • Scaled Net Operating Assets: 0.53
  • GF Value™: $23.63 vs. price of $29.71 (25.7% above fair value)
  • GF Score™: 95/100 with 8 warning signs

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

SP Group AS Business Description

Other Exchanges SPG:Denmark1PU2:Germany
Address Snavevej 6-10, Sonderso, DNK, 5471
SP Group AS develops and manufactures solutions in plastics using multiple production technologies. It is a supplier of manufactured plastic products for the manufacturing industries. Its solutions include 3D print, Assembly, Blow Moulding, Injection Moulding, , Precision Plastic Machining, among others. Its segments include Denmark, Norway, Sweden, Finland, Latvia, Slovakia, The Netherlands, Poland, North America, China, and Thailand, with Denmark generating the majority of the revenue.
95GF 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.

$29.71
Price
$23.63
GF Value