Northland Power (TSX:NPI) Scaled Net Operating Assets: 0.78 (As of Mar. 2026)


TSX:NPI Northland Power Inc TSX:NPI
68 GF Score
Price C$22.05
GF Value C$24.17
Valuation Fairly Valued
! 7 Warning Signs
View Full Analysis

What is Northland Power Scaled Net Operating Assets?

Northland Power TSX:NPI -0.27% 68 Scaled Net Operating Assets is 0.78 as of Mar. 2026. GuruFocus rates TSX:NPI with a GF Score™ of 68/100 and a GF Value™ of C$24.17 (Fairly Valued). The stock has 7 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.

Northland Power's operating assets for the quarter that ended in Mar. 2026 was C$12,520 Mil. Northland Power's operating liabilities for the quarter that ended in Mar. 2026 was C$2,152 Mil. Northland Power's Total Assets for the quarter that ended in Dec. 2025 was C$13,238 Mil. Therefore, Northland Power's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.78.


Northland Power Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Northland Power'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.

Northland Power Scaled Net Operating Assets Chart

Northland Power 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 0.89 0.81 0.77 0.82 0.78

Northland Power 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 0.83 0.78 0.77 0.79 0.78

Northland Power Scaled Net Operating Assets Competitor Comparison

For the Utilities - Renewable subindustry, Northland Power'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.


Northland Power Scaled Net Operating Assets vs Utilities - Independent Power Producers Industry

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

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


TSX:NPI
68GF Score
Northland Power Inc TSX:NPI
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Northland Power 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.

Northland Power'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 )
=(12595.079-1955.103)/13604.338
=0.78

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=13238.364 - 643.285
=12595.079

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=8813.822 - 6071.3 - 787.419
=1955.103

Northland Power'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 )
=(12520.169-2151.587)/13238.364
=0.78

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=13479.637 - 959.468
=12520.169

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=8948.91 - 6008.531 - 788.792
=2151.587

* 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 0.78 mean?
Northland Power (TSX:NPI) has a Scaled Net Operating Assets of 0.78 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 Northland Power and its competitors.
Is Northland Power's Scaled Net Operating Assets too high?
Northland Power's current Scaled Net Operating Assets is 0.78. Overall, Northland Power has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Northland Power's Scaled Net Operating Assets compare to competitors?
Northland Power's Scaled Net Operating Assets of 0.78 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 Northland Power and its competitors. Northland Power's current Scaled Net Operating Assets is 0.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northland Power stock overvalued right now?
Based on GuruFocus' analysis, Northland Power (TSX:NPI) is currently considered Fairly Valued. The stock's GF Value™ is C$24.17, compared to a current price of C$22.05 — trading 8.8% below its estimated fair value. The current Scaled Net Operating Assets is 0.78. Northland Power's overall GF Score™ is 68/100 with 7 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 Northland Power (TSX:NPI), the current Scaled Net Operating Assets is 0.78 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 Northland Power (TSX:NPI) Overvalued in 2026?

Based on GuruFocus' analysis, Northland Power stock appears to be undervalued. The current stock price of C$22.05 is trading 8.8% below its estimated GF Value™ of C$24.17. GuruFocus considers Northland Power to be Fairly Valued.

Key valuation signals for TSX:NPI:

  • Scaled Net Operating Assets: 0.78
  • GF Value™: C$24.17 vs. price of C$22.05 (8.8% below fair value)
  • GF Score™: 68/100 with 7 warning signs

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


Northland Power Business Description

Address 30 St. Clair Avenue West, 3rd Floor, Toronto, ON, CAN, M4V 3A1
Northland Power develops, constructs, and operates sustainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company's largest segment over the long term. Northland's growth opportunities are global and span North America, Europe, Latin America, and Asia.
68GF Score

Get the complete analysis for TSX:NPI

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

C$22.05
Price
C$24.17
GF Value