ZEAL Network SE (STU:TIM) Scaled Net Operating Assets: 0.40 (As of Mar. 2026)


STU:TIM ZEAL Network SE STU:TIM
87 GF Score
Price €42.00
GF Value €68.99
Valuation Significantly Undervalued
! 2 Warning Signs
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What is ZEAL Network SE Scaled Net Operating Assets?

ZEAL Network SE STU:TIM -0.47% 87 Scaled Net Operating Assets is 0.40 as of Mar. 2026. GuruFocus rates STU:TIM with a GF Score™ of 87/100 and a GF Value™ of €68.99 (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.

ZEAL Network SE's operating assets for the quarter that ended in Mar. 2026 was €299.8 Mil. ZEAL Network SE's operating liabilities for the quarter that ended in Mar. 2026 was €120.1 Mil. ZEAL Network SE's Total Assets for the quarter that ended in Dec. 2025 was €454.3 Mil. Therefore, ZEAL Network SE's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.40.


ZEAL Network SE Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for ZEAL Network SE'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.

ZEAL Network SE Scaled Net Operating Assets Chart

ZEAL Network SE 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 0.62 0.60 0.50 0.54 0.42

ZEAL Network SE 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 0.43 0.43 0.43 0.45 0.40

STU:TIM vs FLUT, DKNG, SGHC: Scaled Net Operating Assets Comparison

For the Gambling subindustry, ZEAL Network SE'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.


ZEAL Network SE Scaled Net Operating Assets vs Travel & Leisure Industry

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

* The bar in red indicates where ZEAL Network SE's Scaled Net Operating Assets falls into.


STU:TIM
87GF Score
ZEAL Network SE STU:TIM
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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ZEAL Network SE 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.

ZEAL Network SE'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 )
=(328.909-135.674)/457.533
=0.42

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=454.259 - 125.35
=328.909

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=223.751 - 76.765 - 11.312
=135.674

ZEAL Network SE'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 )
=(299.829-120.085)/454.259
=0.40

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=444.617 - 144.788
=299.829

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=205.36 - 73.968 - 11.307
=120.085

* 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 0.40 mean?
ZEAL Network SE (STU:TIM) has a Scaled Net Operating Assets of 0.40 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 ZEAL Network SE and its competitors.
Is ZEAL Network SE's Scaled Net Operating Assets too high?
ZEAL Network SE's current Scaled Net Operating Assets is 0.40. Overall, ZEAL Network SE has a GF Score™ of 87/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ZEAL Network SE's Scaled Net Operating Assets compare to FLUT and DKNG?
ZEAL Network SE's Scaled Net Operating Assets of 0.40 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 ZEAL Network SE and its competitors. ZEAL Network SE's current Scaled Net Operating Assets is 0.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ZEAL Network SE stock overvalued right now?
Based on GuruFocus' analysis, ZEAL Network SE (STU:TIM) is currently considered Significantly Undervalued. The stock's GF Value™ is €68.99, compared to a current price of €42.00 — trading 39.1% below its estimated fair value. The current Scaled Net Operating Assets is 0.40. ZEAL Network SE's overall GF Score™ is 87/100 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 ZEAL Network SE (STU:TIM), the current Scaled Net Operating Assets is 0.40 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 ZEAL Network SE (STU:TIM) Overvalued in 2026?

Based on GuruFocus' analysis, ZEAL Network SE stock appears to be undervalued. The current stock price of €42.00 is trading 39.1% below its estimated GF Value™ of €68.99. GuruFocus considers ZEAL Network SE to be Significantly Undervalued.

Key valuation signals for STU:TIM:

  • Scaled Net Operating Assets: 0.40
  • GF Value™: €68.99 vs. price of €42.00 (39.1% below fair value)
  • GF Score™: 87/100 with 2 warning signs

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


ZEAL Network SE Business Description

Address Strassenbahnring 11, Hamburg, NI, DEU, 20251
ZEAL Network SE is an e-commerce group of companies company specializing in the area of online lottery. The company offers consumer-facing lottery-based games as well as business-to-business solutions. The operating business segments are Germany and Other. The ZEAL group now has more than one million active customers. ZEAL allows the participation in state-licensed lotteries via the LOTTO24 and Tipp24 brands and also offers its own lottery products. ZEAL operates under its owns brands namely ZEAL Instant Games, ZEAL Ventures and ZEAL Iberia.
87GF Score

Get the complete analysis for STU:TIM

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

€42.00
Price
€68.99
GF Value