VHC (VirnetX Holding) Scaled Net Operating Assets: 0.05 (As of Mar. 2026)


VHC VirnetX Holding Corp VHC
50 GF Score
Price $11.98
GF Value $86.23
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is VirnetX Holding Scaled Net Operating Assets?

VirnetX Holding VHC -2.92% 50 Scaled Net Operating Assets is 0.05 as of Mar. 2026. GuruFocus rates VHC with a GF Score™ of 50/100 and a GF Value™ of $86.23 (Possible Value Trap). The stock has 5 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.

VirnetX Holding's operating assets for the quarter that ended in Mar. 2026 was $9.47 Mil. VirnetX Holding's operating liabilities for the quarter that ended in Mar. 2026 was $7.84 Mil. VirnetX Holding's Total Assets for the quarter that ended in Dec. 2025 was $31.06 Mil. Therefore, VirnetX Holding's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.05.


VirnetX Holding Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for VirnetX Holding'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.

VirnetX Holding Scaled Net Operating Assets Chart

VirnetX Holding 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 0.07 0.00 0.02 0.03 0.02

VirnetX Holding 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 0.04 0.04 0.03 0.03 0.05

VHC vs AGPU, SKYA, RMXI: Scaled Net Operating Assets Comparison

For the Software - Infrastructure subindustry, VirnetX Holding'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.


VirnetX Holding Scaled Net Operating Assets vs Software Industry

For the Software industry and Technology sector, VirnetX Holding's Scaled Net Operating Assets distribution charts can be found below:

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


VHC
50GF Score
VirnetX Holding Corp VHC
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

VirnetX Holding 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.

VirnetX Holding'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 )
=(9.535-8.588)/49.609
=0.02

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=31.062 - 21.527
=9.535

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=8.588 - 0 - 0
=8.588

VirnetX Holding'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 )
=(9.469-7.84)/31.062
=0.05

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=26.693 - 17.224
=9.469

* 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 0.05 mean?
VirnetX Holding (VHC) has a Scaled Net Operating Assets of 0.05 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 VirnetX Holding and its competitors.
Is VirnetX Holding's Scaled Net Operating Assets too high?
VirnetX Holding's current Scaled Net Operating Assets is 0.05. Overall, VirnetX Holding has a GF Score™ of 50/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does VirnetX Holding's Scaled Net Operating Assets compare to AGPU and SKYA?
VirnetX Holding's Scaled Net Operating Assets of 0.05 can be compared against companies in the Software 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 Software company?
A good Scaled Net Operating Assets depends on the Software 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 VirnetX Holding and its competitors. VirnetX Holding's current Scaled Net Operating Assets is 0.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VirnetX Holding stock overvalued right now?
Based on GuruFocus' analysis, VirnetX Holding (VHC) is currently considered Possible Value Trap. The stock's GF Value™ is $86.23, compared to a current price of $11.98 — trading 86.1% below its estimated fair value. The current Scaled Net Operating Assets is 0.05. VirnetX Holding's overall GF Score™ is 50/100 with 5 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 VirnetX Holding (VHC), the current Scaled Net Operating Assets is 0.05 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 VirnetX Holding (VHC) Overvalued in 2026?

Based on GuruFocus' analysis, VirnetX Holding stock appears to be undervalued. The current stock price of $11.98 is trading 86.1% below its estimated GF Value™ of $86.23. GuruFocus considers VirnetX Holding to be Possible Value Trap.

Key valuation signals for VHC:

  • Scaled Net Operating Assets: 0.05
  • GF Value™: $86.23 vs. price of $11.98 (86.1% below fair value)
  • GF Score™: 50/100 with 5 warning signs

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


VirnetX Holding Business Description

Other Exchanges VN20:Germany
Address 308 Dorla Court, Suite 206, Zephyr Cove, NV, USA, 89448
VirnetX Holding Corp is engaged in the business of commercializing a portfolio of patents. It is an Internet security software and technology company with patented technology for secure communications. Its software and technology solutions, including its Secure Domain Name Registry and Technology, VirnetX One, War Room, VirnetX Matrix, and GABRIEL Connection Technology, are designed to be device and location-independent, and enable a secure real-time communication environment for all types of enterprise applications, services and critical infrastructures.
50GF Score

Get the complete analysis for VHC

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

$11.98
Price
$86.23
GF Value