Asulina Co (TSE:3647) Scaled Net Operating Assets: 0.37 (As of Feb. 2026)


TSE:3647 Asulina Co Ltd TSE:3647
49 GF Score
Price 円136.00
GF Value 円157.91
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Asulina Co Scaled Net Operating Assets?

Asulina Co TSE:3647 +4.62% 49 Scaled Net Operating Assets is 0.37 as of Feb. 2026. GuruFocus rates TSE:3647 with a GF Score™ of 49/100 and a GF Value™ of 円157.91 (Modestly 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.

Asulina Co's operating assets for the quarter that ended in Feb. 2026 was 円926.3 Mil. Asulina Co's operating liabilities for the quarter that ended in Feb. 2026 was 円468.2 Mil. Asulina Co's Total Assets for the quarter that ended in Aug. 2025 was 円1,223.8 Mil. Therefore, Asulina Co's scaled net operating assets (SNOA) for the quarter that ended in Feb. 2026 was 0.37.


Asulina Co Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Asulina Co'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.

Asulina Co Scaled Net Operating Assets Chart

Asulina Co Annual Data
Trend Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.24 0.24 0.48 0.34 0.11

Asulina Co Semi-Annual Data
Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
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 0.59 0.35 0.45 0.13 0.37

Asulina Co Scaled Net Operating Assets Competitor Comparison

For the Utilities - Renewable subindustry, Asulina Co'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.


Asulina Co Scaled Net Operating Assets vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Asulina Co's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Asulina Co's Scaled Net Operating Assets falls into.


TSE:3647
49GF Score
Asulina Co Ltd TSE:3647
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Asulina Co 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.

Asulina Co's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Aug. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Aug. 2025 )
=(Operating Assets (A: Aug. 2025 )-Operating Liabilities (A: Aug. 2025 ))/Total Assets (A: Aug. 2024 )
=(666.951-497.06)/1550.708
=0.11

where

Operating Assets(A: Aug. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1223.824 - 556.873
=666.951

Operating Liabilities(A: Aug. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=528.078 - 16.135 - 14.883
=497.06

Asulina Co's Scaled Net Operating Assets (SNOA) for the quarter that ended in Feb. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Feb. 2026 )
=(Operating Assets (Q: Feb. 2026 )-Operating Liabilities (Q: Feb. 2026 ))/Total Assets (Q: Aug. 2025 )
=(926.263-468.174)/1223.824
=0.37

where

Operating Assets(Q: Feb. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1349.311 - 423.048
=926.263

Operating Liabilities(Q: Feb. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=488.603 - 13.53 - 6.899
=468.174

* 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 0.37 mean?
Asulina Co (TSE:3647) has a Scaled Net Operating Assets of 0.37 as of Feb. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Asulina Co and its competitors.
Is Asulina Co's Scaled Net Operating Assets too high?
Asulina Co's current Scaled Net Operating Assets is 0.37. Overall, Asulina Co has a GF Score™ of 49/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Asulina Co's Scaled Net Operating Assets compare to competitors?
Asulina Co's Scaled Net Operating Assets of 0.37 can be compared against companies in the Utilities - Independent Power Producers 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 an Utilities - Independent Power Producers company?
A good Scaled Net Operating Assets depends on the Utilities - Independent Power Producers 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 Asulina Co and its competitors. Asulina Co's current Scaled Net Operating Assets is 0.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asulina Co stock overvalued right now?
Based on GuruFocus' analysis, Asulina Co (TSE:3647) is currently considered Modestly Undervalued. The stock's GF Value™ is 円157.91, compared to a current price of 円136.00 — trading 13.9% below its estimated fair value. The current Scaled Net Operating Assets is 0.37. Asulina Co's overall GF Score™ is 49/100 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 Asulina Co (TSE:3647), the current Scaled Net Operating Assets is 0.37 as of Feb. 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 Asulina Co (TSE:3647) Overvalued in 2026?

Based on GuruFocus' analysis, Asulina Co stock appears to be undervalued. The current stock price of 円136.00 is trading 13.9% below its estimated GF Value™ of 円157.91. GuruFocus considers Asulina Co to be Modestly Undervalued.

Key valuation signals for TSE:3647:

  • Scaled Net Operating Assets: 0.37
  • GF Value™: 円157.91 vs. price of 円136.00 (13.9% below fair value)
  • GF Score™: 49/100 with 3 warning signs

No single metric tells the full story. See the TSE:3647 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Asulina Co Business Description

Address 2-3-14 Higashishinagawa, Shinagawa-ku, Tokyo Front Terrace 12th floor, Tokyo, JPN, 140-0002
Asulina Co Ltd is engaged in Renewable energy business, new energy business and sustainable business.
49GF Score

Get the complete analysis for TSE:3647

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

円136.00
Price
円157.91
GF Value