Tetragon Financial Group (XAMS:TFG) Scaled Net Operating Assets: 1.01 (As of Dec. 2025)


XAMS:TFG Tetragon Financial Group Ltd XAMS:TFG
43 GF Score
Price $13.00
GF Value $40.21
Valuation Possible Value Trap
! 4 Warning Signs
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What is Tetragon Financial Group Scaled Net Operating Assets?

Tetragon Financial Group XAMS:TFG -1.14% 43 Scaled Net Operating Assets is 1.01 as of Dec. 2025. GuruFocus rates XAMS:TFG with a GF Score™ of 43/100 and a GF Value™ of $40.21 (Possible Value Trap). The stock has 4 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.

Tetragon Financial Group's operating assets for the quarter that ended in Dec. 2025 was $4,229.4 Mil. Tetragon Financial Group's operating liabilities for the quarter that ended in Dec. 2025 was $14.7 Mil. Tetragon Financial Group's Total Assets for the quarter that ended in Jun. 2025 was $4,153.8 Mil. Therefore, Tetragon Financial Group's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 1.01.

XAMS:TFG
43GF Score
Tetragon Financial Group Ltd XAMS:TFG
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Tetragon Financial Group 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.

Tetragon Financial Group'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 )
=(4229.4-14.7)/3564.9
=1.18

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=4256.5 - 27.1
=4229.4

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=364.7 - 350 - 0
=14.7

Tetragon Financial Group'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 )
=(4229.4-14.7)/4153.8
=1.01

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=4256.5 - 27.1
=4229.4

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=364.7 - 350 - 0
=14.7

* 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 1.01 mean?
Tetragon Financial Group (XAMS:TFG) has a Scaled Net Operating Assets of 1.01 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 Tetragon Financial Group and its competitors.
Is Tetragon Financial Group's Scaled Net Operating Assets too high?
Tetragon Financial Group's current Scaled Net Operating Assets is 1.01. Overall, Tetragon Financial Group has a GF Score™ of 43/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Tetragon Financial Group's Scaled Net Operating Assets compare to BLK and BX?
Tetragon Financial Group's Scaled Net Operating Assets of 1.01 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 Tetragon Financial Group and its competitors. Tetragon Financial Group's current Scaled Net Operating Assets is 1.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tetragon Financial Group stock overvalued right now?
Based on GuruFocus' analysis, Tetragon Financial Group (XAMS:TFG) is currently considered Possible Value Trap. The stock's GF Value™ is $40.21, compared to a current price of $13.00 — trading 67.7% below its estimated fair value. The current Scaled Net Operating Assets is 1.01. Tetragon Financial Group's overall GF Score™ is 43/100 with 4 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 Tetragon Financial Group (XAMS:TFG), the current Scaled Net Operating Assets is 1.01 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.

Is Tetragon Financial Group (XAMS:TFG) Overvalued in 2026?

Based on GuruFocus' analysis, Tetragon Financial Group stock appears to be undervalued. The current stock price of $13.00 is trading 67.7% below its estimated GF Value™ of $40.21. GuruFocus considers Tetragon Financial Group to be Possible Value Trap.

Key valuation signals for XAMS:TFG:

  • Scaled Net Operating Assets: 1.01
  • GF Value™: $40.21 vs. price of $13.00 (67.7% below fair value)
  • GF Score™: 43/100 with 4 warning signs

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

Tetragon Financial Group Business Description

Other Exchanges TFG:UK
Address La Charroterie, Mill Court, Channel Islands, St. Peter Port, GGY, GY1 1EJ
Tetragon Financial Group Ltd is a Guernsey closed-ended investment company. The company's investment objective is to generate distributable income and capital appreciation. It provides stable returns to investors across various credit, equity, interest rate, and inflation cycles. The firm's investment portfolio comprises of assets, including a diversified alternative asset management business, TFG Asset Management, and covers bank loans, real estate, equities, credit, convertible bonds, hedge funds, and infrastructure.
43GF 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.

$13.00
Price
$40.21
GF Value