Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
Kernel Holding's operating assets for the quarter that ended in Mar. 2026 was zł10,787 Mil. Kernel Holding's operating liabilities for the quarter that ended in Mar. 2026 was zł2,350 Mil. Kernel Holding's Total Assets for the quarter that ended in Dec. 2025 was zł12,709 Mil. Therefore, Kernel Holding's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.66.
Kernel Holding Scaled Net Operating Assets Related Terms
Kernel Holding Scaled Net Operating Assets Historical Data
* Premium members only.
The historical data trend for Kernel 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.
WAR:KER vs SYY, USFD, PFGC: Scaled Net Operating Assets Comparison
For the Food Distribution subindustry, Kernel 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.
Kernel Holding Scaled Net Operating Assets vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Kernel Holding's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where Kernel Holding's Scaled Net Operating Assets falls into.
* 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 0.66 mean?
Kernel Holding (WAR:KER) has a Scaled Net Operating Assets of 0.66 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 Kernel Holding and its competitors.
Is Kernel Holding's Scaled Net Operating Assets too high?
Kernel Holding's current Scaled Net Operating Assets is 0.66. Overall, Kernel Holding has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kernel Holding's Scaled Net Operating Assets compare to SYY and USFD?
Kernel Holding's Scaled Net Operating Assets of 0.66 can be compared against companies in the Retail - Defensive 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 Retail - Defensive company?
A good Scaled Net Operating Assets depends on the Retail - Defensive 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 Kernel Holding and its competitors. Kernel Holding's current Scaled Net Operating Assets is 0.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kernel Holding stock overvalued right now?
Based on GuruFocus' analysis, Kernel Holding (WAR:KER) is currently considered Significantly Overvalued. The stock's GF Value™ is zł13.24, compared to a current price of zł19.50 — trading 47.3% above its estimated fair value. The current Scaled Net Operating Assets is 0.66. Kernel Holding's overall GF Score™ is 64/100 with 1 warning sign 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 Kernel Holding (WAR:KER), the current Scaled Net Operating Assets is 0.66 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 Kernel Holding (WAR:KER) Overvalued in 2026?
Based on GuruFocus' analysis, Kernel Holding stock appears to be overvalued.
The current stock price of zł19.50 is trading 47.3% above its estimated GF Value™ of zł13.24.
GuruFocus considers Kernel Holding to be Significantly Overvalued.
Key valuation signals for WAR:KER:
Scaled Net Operating Assets: 0.66
GF Value™: zł13.24 vs. price of zł19.50 (47.3% above fair value)
No single metric tells the full story. See the WAR:KER stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kernel Holding SA is an investment holding company. The company's segment includes Oilseed Processing; Infrastructure and Trading and Farming. It generates maximum revenue from the Infrastructure and Trading segment. The Infrastructure and Trading segment includes sourcing and merchandising of wholesale edible oils, grain, provision of silo services, grain handling and transshipment services.
64GF Score
Get the complete analysis for WAR:KER
Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
WAR:KER has been successfully added to your 
