Melco Resorts and Entertainment (STU:MAS) Scaled Net Operating Assets: 0.68 (As of Mar. 2026)


STU:MAS Melco Resorts and Entertainment Ltd STU:MAS
62 GF Score
Price €4.80
GF Value €11.04
Valuation Possible Value Trap
! 4 Warning Signs
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What is Melco Resorts and Entertainment Scaled Net Operating Assets?

Melco Resorts and Entertainment STU:MAS +1.27% 62 Scaled Net Operating Assets is 0.68 as of Mar. 2026. GuruFocus rates STU:MAS with a GF Score™ of 62/100 and a GF Value™ of €11.04 (Possible Value Trap). The stock has 4 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.

Melco Resorts and Entertainment's operating assets for the quarter that ended in Mar. 2026 was €5,583 Mil. Melco Resorts and Entertainment's operating liabilities for the quarter that ended in Mar. 2026 was €1,170 Mil. Melco Resorts and Entertainment's Total Assets for the quarter that ended in Dec. 2025 was €6,488 Mil. Therefore, Melco Resorts and Entertainment's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.68.


Melco Resorts and Entertainment Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Melco Resorts and Entertainment'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.

Melco Resorts and Entertainment Scaled Net Operating Assets Chart

Melco Resorts and Entertainment 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 0.74 0.79 0.59 0.67 0.57

Melco Resorts and Entertainment 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 0.66 0.62 0.65 0.63 0.68

STU:MAS vs MCRI, PENN, VAC: Scaled Net Operating Assets Comparison

For the Resorts & Casinos subindustry, Melco Resorts and Entertainment'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.


Melco Resorts and Entertainment Scaled Net Operating Assets vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Melco Resorts and Entertainment's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Melco Resorts and Entertainment's Scaled Net Operating Assets falls into.


STU:MAS
62GF Score
Melco Resorts and Entertainment Ltd STU:MAS
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Melco Resorts and Entertainment 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.

Melco Resorts and Entertainment'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 )
=(5614.614-1260.825)/7626.003
=0.57

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6488.426 - 873.812
=5614.614

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=7260.125 - 5954.614 - 44.686
=1260.825

Melco Resorts and Entertainment'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 )
=(5582.512-1169.652)/6488.426
=0.68

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6397.659 - 815.147
=5582.512

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=7171.429 - 5657.658 - 344.119
=1169.652

* 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 0.68 mean?
Melco Resorts and Entertainment (STU:MAS) has a Scaled Net Operating Assets of 0.68 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 Melco Resorts and Entertainment and its competitors.
Is Melco Resorts and Entertainment's Scaled Net Operating Assets too high?
Melco Resorts and Entertainment's current Scaled Net Operating Assets is 0.68. Overall, Melco Resorts and Entertainment has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Melco Resorts and Entertainment's Scaled Net Operating Assets compare to MCRI and PENN?
Melco Resorts and Entertainment's Scaled Net Operating Assets of 0.68 can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Scaled Net Operating Assets depends on the Travel & Leisure 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 Melco Resorts and Entertainment and its competitors. Melco Resorts and Entertainment's current Scaled Net Operating Assets is 0.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Melco Resorts and Entertainment stock overvalued right now?
Based on GuruFocus' analysis, Melco Resorts and Entertainment (STU:MAS) is currently considered Possible Value Trap. The stock's GF Value™ is €11.04, compared to a current price of €4.80 — trading 56.5% below its estimated fair value. The current Scaled Net Operating Assets is 0.68. Melco Resorts and Entertainment's overall GF Score™ is 62/100 with 4 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 Melco Resorts and Entertainment (STU:MAS), the current Scaled Net Operating Assets is 0.68 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 Melco Resorts and Entertainment (STU:MAS) Overvalued in 2026?

Based on GuruFocus' analysis, Melco Resorts and Entertainment stock appears to be undervalued. The current stock price of €4.80 is trading 56.5% below its estimated GF Value™ of €11.04. GuruFocus considers Melco Resorts and Entertainment to be Possible Value Trap.

Key valuation signals for STU:MAS:

  • Scaled Net Operating Assets: 0.68
  • GF Value™: €11.04 vs. price of €4.80 (56.5% below fair value)
  • GF Score™: 62/100 with 4 warning signs

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


Melco Resorts and Entertainment Business Description

Address 60 Wyndham Street, 38th Floor, The Centrium, Central, Hong Kong, HKG
Melco Resorts & Entertainment is one of only six licensed casino operators in Macao. It operates Altira, a complex focused on premium customers; City of Dreams, an integrated resort in Cotai serving both mass-market and premium patrons; and Mocha Clubs' electronic gaming machines. The company also has a majority interest in Studio City, which opened in 2015. Outside Macao, Melco owns City of Dreams Manila in the Philippines and City of Dreams Mediterranean in Cyprus. The business mix in terms of adjusted EBITDA was about 84% from Macao, with the rest from overseas as of 2025.
62GF Score

Get the complete analysis for STU:MAS

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

€4.80
Price
€11.04
GF Value