Uniteds (TSX:UNC) Scaled Net Operating Assets: 0.85 (As of Mar. 2026)


TSX:UNC United Corporations Ltd TSX:UNC
50 GF Score
Price C$15.30
GF Value C$11.16
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Uniteds Scaled Net Operating Assets?

Uniteds TSX:UNC +2.00% 50 Scaled Net Operating Assets is 0.85 as of Mar. 2026. GuruFocus rates TSX:UNC with a GF Score™ of 50/100 and a GF Value™ of C$11.16 (Significantly Overvalued). 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.

Uniteds's operating assets for the quarter that ended in Mar. 2026 was C$2,383.0 Mil. Uniteds's operating liabilities for the quarter that ended in Mar. 2026 was C$106.1 Mil. Uniteds's Total Assets for the quarter that ended in Dec. 2025 was C$2,665.3 Mil. Therefore, Uniteds's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.85.

TSX:UNC
50GF Score
United Corporations Ltd TSX:UNC
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Uniteds 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.

Uniteds's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Mar. 2024 is calculated as

Scaled Net Operating Assets (SNOA)(A: Mar. 2024 )
=(Operating Assets (A: Mar. 2024 )-Operating Liabilities (A: Mar. 2024 ))/Total Assets (A: Mar. 2023 )
=(2240.075-86.613)/1951.85
=1.10

where

Operating Assets(A: Mar. 2024 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=2295.119 - 55.044
=2240.075

Operating Liabilities(A: Mar. 2024 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=86.613 - 0 - 0
=86.613

Uniteds'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 )
=(2382.962-106.132)/2665.254
=0.85

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=2432.247 - 49.285
=2382.962

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=106.132 - 0 - 0
=106.132

* 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 0.85 mean?
Uniteds (TSX:UNC) has a Scaled Net Operating Assets of 0.85 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 Uniteds and its competitors.
Is Uniteds' Scaled Net Operating Assets too high?
Uniteds' current Scaled Net Operating Assets is 0.85. Overall, Uniteds has a GF Score™ of 50/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Uniteds' Scaled Net Operating Assets compare to BLK and BX?
Uniteds' Scaled Net Operating Assets of 0.85 can be compared against companies in the Asset Management 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 Asset Management company?
A good Scaled Net Operating Assets depends on the Asset Management 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 Uniteds and its competitors. Uniteds's current Scaled Net Operating Assets is 0.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Uniteds stock overvalued right now?
Based on GuruFocus' analysis, Uniteds (TSX:UNC) is currently considered Significantly Overvalued. The stock's GF Value™ is C$11.16, compared to a current price of C$15.30 — trading 37.1% above its estimated fair value. The current Scaled Net Operating Assets is 0.85. Uniteds' overall GF Score™ is 50/100 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 Uniteds (TSX:UNC), the current Scaled Net Operating Assets is 0.85 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 Uniteds (TSX:UNC) Overvalued in 2026?

Based on GuruFocus' analysis, Uniteds stock appears to be overvalued. The current stock price of C$15.30 is trading 37.1% above its estimated GF Value™ of C$11.16. GuruFocus considers Uniteds to be Significantly Overvalued.

Key valuation signals for TSX:UNC:

  • Scaled Net Operating Assets: 0.85
  • GF Value™: C$11.16 vs. price of C$15.30 (37.1% above fair value)
  • GF Score™: 50/100 with 3 warning signs

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

Uniteds Business Description

Address 165 University Avenue, 10th Floor, Toronto, ON, CAN, M5H 3B8
United Corporations Ltd is a closed-end investment company. Its investment objective is to earn an above-average rate of return through long-term capital appreciation and dividend income. The investment portfolio of the company comprises mainly foreign equities. It seeks long-term growth through investments in common equities cause management believes that in the long term common equities will outperform fixed-income instruments or balanced funds. The company invests in the United States, Europe, United Kingdom, Canada, Australia and Japan.
50GF Score

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

C$15.30
Price
C$11.16
GF Value