Keihan Holdings Co (TSE:9045) Scaled Net Operating Assets: 0.82 (As of Sep. 2025)


TSE:9045 Keihan Holdings Co Ltd TSE:9045
72 GF Score
Price 円3,157.00
GF Value 円3,901.51
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Keihan Holdings Co Scaled Net Operating Assets?

Keihan Holdings Co TSE:9045 +0.77% 72 Scaled Net Operating Assets is 0.82 as of Sep. 2025. GuruFocus rates TSE:9045 with a GF Score™ of 72/100 and a GF Value™ of 円3,901.51 (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.

Keihan Holdings Co's operating assets for the quarter that ended in Sep. 2025 was 円865,328 Mil. Keihan Holdings Co's operating liabilities for the quarter that ended in Sep. 2025 was 円156,214 Mil. Keihan Holdings Co's Total Assets for the quarter that ended in Jun. 2025 was 円868,503 Mil. Therefore, Keihan Holdings Co's scaled net operating assets (SNOA) for the quarter that ended in Sep. 2025 was 0.82.


Keihan Holdings Co Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Keihan Holdings 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.

Keihan Holdings Co Scaled Net Operating Assets Chart

Keihan Holdings Co Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.78 0.76 0.83 0.81 0.83

Keihan Holdings Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 0.81 0.80 0.82 0.82 0.82

TSE:9045 vs HON, MMM: Scaled Net Operating Assets Comparison

For the Conglomerates subindustry, Keihan Holdings 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.


Keihan Holdings Co Scaled Net Operating Assets vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Keihan Holdings Co's Scaled Net Operating Assets distribution charts can be found below:

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


TSE:9045
72GF Score
Keihan Holdings Co Ltd TSE:9045
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Keihan Holdings 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.

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

Scaled Net Operating Assets (SNOA)(A: Mar. 2025 )
=(Operating Assets (A: Mar. 2025 )-Operating Liabilities (A: Mar. 2025 ))/Total Assets (A: Mar. 2024 )
=(844060-163820)/820224
=0.83

where

Operating Assets(A: Mar. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=859860 - 15800
=844060

Operating Liabilities(A: Mar. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=545355 - 289105 - 92430
=163820

Keihan Holdings Co's Scaled Net Operating Assets (SNOA) for the quarter that ended in Sep. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Sep. 2025 )
=(Operating Assets (Q: Sep. 2025 )-Operating Liabilities (Q: Sep. 2025 ))/Total Assets (Q: Jun. 2025 )
=(865328-156214)/868503
=0.82

where

Operating Assets(Q: Sep. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=879405 - 14077
=865328

Operating Liabilities(Q: Sep. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=553668 - 320015 - 77439
=156214

* 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 0.82 mean?
Keihan Holdings Co (TSE:9045) has a Scaled Net Operating Assets of 0.82 as of Sep. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Keihan Holdings Co and its competitors.
Is Keihan Holdings Co's Scaled Net Operating Assets too high?
Keihan Holdings Co's current Scaled Net Operating Assets is 0.82. Overall, Keihan Holdings Co has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Keihan Holdings Co's Scaled Net Operating Assets compare to HON and MMM?
Keihan Holdings Co's Scaled Net Operating Assets of 0.82 can be compared against companies in the Conglomerates 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 Conglomerates company?
A good Scaled Net Operating Assets depends on the Conglomerates 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 Keihan Holdings Co and its competitors. Keihan Holdings Co's current Scaled Net Operating Assets is 0.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keihan Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Keihan Holdings Co (TSE:9045) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,901.51, compared to a current price of 円3,157.00 — trading 19.1% below its estimated fair value. The current Scaled Net Operating Assets is 0.82. Keihan Holdings Co's overall GF Score™ is 72/100 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 Keihan Holdings Co (TSE:9045), the current Scaled Net Operating Assets is 0.82 as of Sep. 2025. 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 Keihan Holdings Co (TSE:9045) Overvalued in 2026?

Based on GuruFocus' analysis, Keihan Holdings Co stock appears to be undervalued. The current stock price of 円3,157.00 is trading 19.1% below its estimated GF Value™ of 円3,901.51. GuruFocus considers Keihan Holdings Co to be Modestly Undervalued.

Key valuation signals for TSE:9045:

  • Scaled Net Operating Assets: 0.82
  • GF Value™: 円3,901.51 vs. price of 円3,157.00 (19.1% below fair value)
  • GF Score™: 72/100 with 3 warning signs

No single metric tells the full story. See the TSE:9045 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Keihan Holdings Co Business Description

Address 1-7-31 Otemae, Chuo-ku, Osaka, JPN, 540-6591
Keihan Holdings Co Ltd is a Japanese conglomerate engaged in transportation, real estate, distribution, leisure, and other related businesses. The company operates through four segments. The Distribution segment manages department stores, shops, and malls. The Leisure and Service Industry segment covers hotels and sightseeing boats. The Real Estate segment handles sales, leasing, building materials, and design, and the Transportation segment operates railways and buses. Other Businesses include the operation of GOOD NATURE STATION, a commercial complex focused on sustainable experiences. It generates the majority of its revenue from the Real estate business segment.
72GF Score

Get the complete analysis for TSE:9045

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

円3,157.00
Price
円3,901.51
GF Value