Pershing Square Holdings (XAMS:PSH) Scaled Net Operating Assets: 0.94 (As of Dec. 2025)


XAMS:PSH Pershing Square Holdings Ltd XAMS:PSH
25 GF Score
Price $51.60
! 5 Warning Signs
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What is Pershing Square Holdings Scaled Net Operating Assets?

Pershing Square Holdings XAMS:PSH 25 Scaled Net Operating Assets is 0.94 as of Dec. 2025. GuruFocus rates XAMS:PSH with a GF Score™ of 25/100. 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.

Pershing Square Holdings's operating assets for the quarter that ended in Dec. 2025 was $18,220 Mil. Pershing Square Holdings's operating liabilities for the quarter that ended in Dec. 2025 was $643 Mil. Pershing Square Holdings's Total Assets for the quarter that ended in Jun. 2025 was $18,702 Mil. Therefore, Pershing Square Holdings's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.94.

XAMS:PSH
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Pershing Square Holdings Ltd XAMS:PSH
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Pershing Square Holdings 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.

Pershing Square Holdings'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 )
=(18219.994-642.979)/15632.386
=1.12

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=19361.496 - 1141.502
=18219.994

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4312.089 - 3669.11 - 0
=642.979

Pershing Square Holdings's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Dec. 2025 )
=(Operating Assets (Q: Dec. 2025 )-Operating Liabilities (Q: Dec. 2025 ))/Total Assets (Q: Jun. 2025 )
=(18219.994-642.979)/18701.878
=0.94

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=19361.496 - 1141.502
=18219.994

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4312.089 - 3669.11 - 0
=642.979

* 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 0.94 mean?
Pershing Square Holdings (XAMS:PSH) has a Scaled Net Operating Assets of 0.94 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Pershing Square Holdings and its competitors.
Is Pershing Square Holdings' Scaled Net Operating Assets too high?
Pershing Square Holdings' current Scaled Net Operating Assets is 0.94. Overall, Pershing Square Holdings has a GF Score™ of 25/100, reflecting its overall financial health beyond just this single metric.
How does Pershing Square Holdings' Scaled Net Operating Assets compare to BLK and BX?
Pershing Square Holdings' Scaled Net Operating Assets of 0.94 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 Pershing Square Holdings and its competitors. Pershing Square Holdings's current Scaled Net Operating Assets is 0.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pershing Square Holdings stock overvalued right now?
Pershing Square Holdings (XAMS:PSH) has a current Scaled Net Operating Assets of 0.94. The current Scaled Net Operating Assets is 0.94. Pershing Square Holdings' overall GF Score™ is 25/100 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 Pershing Square Holdings (XAMS:PSH), the current Scaled Net Operating Assets is 0.94 as of Dec. 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.

Pershing Square Holdings Business Description

Other Exchanges PSH:UK
Address Les Banques, Trafalgar Court, Channel Islands, Saint Peter Port, GGY, GY1 3QL
Pershing Square Holdings Ltd is a closed-ended investment scheme. The company's investment objective is to preserve capital and to seek maximum, long-term capital appreciation commensurate with reasonable risk. It seeks to achieve its investment objective through long and occasionally short positions in equity or debt securities of public U.S. and non-U.S. issuers, derivative instruments, and other financial instruments.
25GF Score

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