Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110) Scaled Net Operating Assets: 0.26 (As of Mar. 2026)


TPE:9110 Vietnam Manufacturing and Export Processing (Holdings) Ltd TPE:9110
54 GF Score
Price NT$3.39
GF Value NT$5.25
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Vietnam Manufacturing and Export Processing (Holdings) Scaled Net Operating Assets?

Vietnam Manufacturing and Export Processing (Holdings) TPE:9110 +0.59% 54 Scaled Net Operating Assets is 0.26 as of Mar. 2026. GuruFocus rates TPE:9110 with a GF Score™ of 54/100 and a GF Value™ of NT$5.25 (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.

Vietnam Manufacturing and Export Processing (Holdings)'s operating assets for the quarter that ended in Mar. 2026 was NT$1,262 Mil. Vietnam Manufacturing and Export Processing (Holdings)'s operating liabilities for the quarter that ended in Mar. 2026 was NT$411 Mil. Vietnam Manufacturing and Export Processing (Holdings)'s Total Assets for the quarter that ended in Dec. 2025 was NT$3,253 Mil. Therefore, Vietnam Manufacturing and Export Processing (Holdings)'s scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.26.


Vietnam Manufacturing and Export Processing (Holdings) Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Vietnam Manufacturing and Export Processing (Holdings)'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.

Vietnam Manufacturing and Export Processing (Holdings) Scaled Net Operating Assets Chart

Vietnam Manufacturing and Export Processing (Holdings) 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 0.36 0.37 0.34 0.26 0.26

Vietnam Manufacturing and Export Processing (Holdings) Quarterly Data
Jun20 Dec20 Jun21 Dec21 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 0.33 0.27 0.32 0.27 0.26

TPE:9110 vs BC, PII, THO: Scaled Net Operating Assets Comparison

For the Recreational Vehicles subindustry, Vietnam Manufacturing and Export Processing (Holdings)'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.


Vietnam Manufacturing and Export Processing (Holdings) Scaled Net Operating Assets vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Vietnam Manufacturing and Export Processing (Holdings)'s Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Vietnam Manufacturing and Export Processing (Holdings)'s Scaled Net Operating Assets falls into.


TPE:9110
54GF Score
Vietnam Manufacturing and Export Processing (Holdings) Ltd TPE:9110
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vietnam Manufacturing and Export Processing (Holdings) 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.

Vietnam Manufacturing and Export Processing (Holdings)'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 )
=(1405.586-545.562)/3366.815
=0.26

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=3252.738 - 1847.152
=1405.586

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1731.964 - 20.504 - 1165.898
=545.562

Vietnam Manufacturing and Export Processing (Holdings)'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 )
=(1261.861-410.772)/3252.738
=0.26

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=2683.709 - 1421.848
=1261.861

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1149.041 - 20.62 - 717.649
=410.772

* 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 0.26 mean?
Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110) has a Scaled Net Operating Assets of 0.26 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 Vietnam Manufacturing and Export Processing (Holdings) and its competitors.
Is Vietnam Manufacturing and Export Processing (Holdings)'s Scaled Net Operating Assets too high?
Vietnam Manufacturing and Export Processing (Holdings)'s current Scaled Net Operating Assets is 0.26. Overall, Vietnam Manufacturing and Export Processing (Holdings) has a GF Score™ of 54/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vietnam Manufacturing and Export Processing (Holdings)'s Scaled Net Operating Assets compare to BC and PII?
Vietnam Manufacturing and Export Processing (Holdings)'s Scaled Net Operating Assets of 0.26 can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Scaled Net Operating Assets depends on the Vehicles & Parts 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 Vietnam Manufacturing and Export Processing (Holdings) and its competitors. Vietnam Manufacturing and Export Processing (Holdings)'s current Scaled Net Operating Assets is 0.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vietnam Manufacturing and Export Processing (Holdings) stock overvalued right now?
Based on GuruFocus' analysis, Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$5.25, compared to a current price of NT$3.39 — trading 35.4% below its estimated fair value. The current Scaled Net Operating Assets is 0.26. Vietnam Manufacturing and Export Processing (Holdings)'s overall GF Score™ is 54/100 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 Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110), the current Scaled Net Operating Assets is 0.26 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 Vietnam Manufacturing and Export Processing (Holdings) (TPE:9110) Overvalued in 2026?

Based on GuruFocus' analysis, Vietnam Manufacturing and Export Processing (Holdings) stock appears to be undervalued. The current stock price of NT$3.39 is trading 35.4% below its estimated GF Value™ of NT$5.25. GuruFocus considers Vietnam Manufacturing and Export Processing (Holdings) to be Significantly Undervalued.

Key valuation signals for TPE:9110:

  • Scaled Net Operating Assets: 0.26
  • GF Value™: NT$5.25 vs. price of NT$3.39 (35.4% below fair value)
  • GF Score™: 54/100 with 3 warning signs

No single metric tells the full story. See the TPE:9110 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Vietnam Manufacturing and Export Processing (Holdings) Business Description

Other Exchanges 00422:Hong Kong
Address Section 5, Tam Hiep Ward, Dong Nai, Bien Hoa, VNM
Vietnam Manufacturing and Export Processing (Holdings) Ltd is engaged in manufacturing and sales of motorbikes, and related spare parts and engines. Its segments include Manufacturing and sale of motorbikes segment that includes motorbikes manufactured for the Vietnamese market and exports it to other countries including Malaysia, the Philippines, Thailand, Italy, Greece, United Arab Emirates and Singapore; and Manufacturing; and Sale of spare parts and engines segment manufactures engines for use in the group's motorbikes, while the group also exports engines to third parties. It manufactures parts for use in repair servicing and product assembly. Geographically, it operates in Vietnam, Malaysia, Philippines, United Arab Emirates, Greece, Thailand, Italy, Singapore, and Other Countries.
54GF Score

Get the complete analysis for TPE:9110

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

NT$3.39
Price
NT$5.25
GF Value