ASAX Co (TSE:8772) Scaled Net Operating Assets: 0.96 (As of Mar. 2026)


TSE:8772 ASAX Co Ltd TSE:8772
80 GF Score
Price 円798.00
GF Value 円974.02
Valuation Modestly Undervalued
! 3 Warning Signs
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What is ASAX Co Scaled Net Operating Assets?

ASAX Co TSE:8772 +0.13% 80 Scaled Net Operating Assets is 0.96 as of Mar. 2026. GuruFocus rates TSE:8772 with a GF Score™ of 80/100 and a GF Value™ of 円974.02 (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.

ASAX Co's operating assets for the quarter that ended in Mar. 2026 was 円122,074 Mil. ASAX Co's operating liabilities for the quarter that ended in Mar. 2026 was 円2,950 Mil. ASAX Co's Total Assets for the quarter that ended in Dec. 2025 was 円123,688 Mil. Therefore, ASAX Co's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.96.


ASAX Co Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for ASAX 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.

ASAX Co Scaled Net Operating Assets Chart

ASAX Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.99 1.10 1.00 1.01 1.01

ASAX Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 0.98 0.93 0.92 0.95 0.96

TSE:8772 vs RKT, FNMA, PFSI: Scaled Net Operating Assets Comparison

For the Mortgage Finance subindustry, ASAX 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.


ASAX Co Scaled Net Operating Assets vs Banks Industry

For the Banks industry and Financial Services sector, ASAX Co's Scaled Net Operating Assets distribution charts can be found below:

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


TSE:8772
80GF Score
ASAX Co Ltd TSE:8772
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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ASAX 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.

ASAX Co's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(A: Mar. 2026 )
=(Operating Assets (A: Mar. 2026 )-Operating Liabilities (A: Mar. 2026 ))/Total Assets (A: Mar. 2025 )
=(122073.791-2950.245)/118272.009
=1.01

where

Operating Assets(A: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=130180.783 - 8106.992
=122073.791

Operating Liabilities(A: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=77391.776 - 50694.364 - 23747.167
=2950.245

ASAX Co'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 )
=(122073.791-2950.245)/123687.664
=0.96

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=130180.783 - 8106.992
=122073.791

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=77391.776 - 50694.364 - 23747.167
=2950.245

* 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 0.96 mean?
ASAX Co (TSE:8772) has a Scaled Net Operating Assets of 0.96 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 ASAX Co and its competitors.
Is ASAX Co's Scaled Net Operating Assets too high?
ASAX Co's current Scaled Net Operating Assets is 0.96. Overall, ASAX Co has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ASAX Co's Scaled Net Operating Assets compare to RKT and FNMA?
ASAX Co's Scaled Net Operating Assets of 0.96 can be compared against companies in the Banks 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 Banks company?
A good Scaled Net Operating Assets depends on the Banks 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 ASAX Co and its competitors. ASAX Co's current Scaled Net Operating Assets is 0.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASAX Co stock overvalued right now?
Based on GuruFocus' analysis, ASAX Co (TSE:8772) is currently considered Modestly Undervalued. The stock's GF Value™ is 円974.02, compared to a current price of 円798.00 — trading 18.1% below its estimated fair value. The current Scaled Net Operating Assets is 0.96. ASAX Co's overall GF Score™ is 80/100 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 ASAX Co (TSE:8772), the current Scaled Net Operating Assets is 0.96 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 ASAX Co (TSE:8772) Overvalued in 2026?

Based on GuruFocus' analysis, ASAX Co stock appears to be undervalued. The current stock price of 円798.00 is trading 18.1% below its estimated GF Value™ of 円974.02. GuruFocus considers ASAX Co to be Modestly Undervalued.

Key valuation signals for TSE:8772:

  • Scaled Net Operating Assets: 0.96
  • GF Value™: 円974.02 vs. price of 円798.00 (18.1% below fair value)
  • GF Score™: 80/100 with 3 warning signs

No single metric tells the full story. See the TSE:8772 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


ASAX Co Business Description

Address 1-3-14 Hiroo, ASAX Hiroo Building 9th Floor, Shibuya-ku, Tokyo, JPN, 150-0012
ASAX Co Ltd is a real estate secured loan provider. The company provides Real estate secured loans for businesses, Real estate secured loans for individuals, Property sale bridge loan, Real estate purchase/construction loan, and Real Estate agent loans.
80GF Score

Get the complete analysis for TSE:8772

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

円798.00
Price
円974.02
GF Value