XE (X-Energy) Scaled Net Operating Assets: 0.64 (As of Dec. 2025)


XE X-Energy Inc XE
12 GF Score
Price $18.84
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What is X-Energy Scaled Net Operating Assets?

X-Energy XE +2.16% 12 Scaled Net Operating Assets is 0.64 as of Dec. 2025. GuruFocus rates XE with a GF Score™ of 12/100. 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.

X-Energy's operating assets for the quarter that ended in Dec. 2025 was $444.12 Mil. X-Energy's operating liabilities for the quarter that ended in Dec. 2025 was $71.03 Mil. X-Energy's Total Assets for the quarter that ended in Dec. 2024 was $579.51 Mil. Therefore, X-Energy's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.64.

X-Energy Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for X-Energy'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.

X-Energy Scaled Net Operating Assets Chart

X-Energy Annual Data
Trend Dec21 Dec22 Dec24 Dec25
Scaled Net Operating Assets
-3.46 -3.62 -9.76 0.64

X-Energy Semi-Annual Data
Dec21 Dec22 Dec24 Dec25
Scaled Net Operating Assets -3.46 -3.62 -9.76 0.64

XE vs MIDD, JBTM, AOS: Scaled Net Operating Assets Comparison

For the Specialty Industrial Machinery subindustry, X-Energy'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.

X-Energy Scaled Net Operating Assets vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, X-Energy's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where X-Energy's Scaled Net Operating Assets falls into.


XE
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X-Energy Inc XE
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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X-Energy 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.

X-Energy'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 )
=(444.122-71.032)/579.51
=0.64

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=2157.997 - 1713.875
=444.122

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=91.919 - 20.887 - 0
=71.032

X-Energy'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: Dec. 2024 )
=(444.122-71.032)/579.51
=0.64

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=2157.997 - 1713.875
=444.122

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=91.919 - 20.887 - 0
=71.032

* 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 0.64 mean?
X-Energy (XE) has a Scaled Net Operating Assets of 0.64 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 X-Energy and its competitors.
Is X-Energy's Scaled Net Operating Assets too high?
X-Energy's current Scaled Net Operating Assets is 0.64. Overall, X-Energy has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does X-Energy's Scaled Net Operating Assets compare to MIDD and JBTM?
X-Energy's Scaled Net Operating Assets of 0.64 can be compared against companies in the Industrial Products 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 Industrial Products company?
A good Scaled Net Operating Assets depends on the Industrial Products 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 X-Energy and its competitors. X-Energy's current Scaled Net Operating Assets is 0.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is X-Energy stock overvalued right now?
X-Energy (XE) has a current Scaled Net Operating Assets of 0.64. The current Scaled Net Operating Assets is 0.64. X-Energy's overall GF Score™ is 12/100 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 X-Energy (XE), the current Scaled Net Operating Assets is 0.64 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.

X-Energy Business Description

Address 801 Thompson Avenue, Suite 400, Rockville, MD, USA, 20852-1627
X-Energy Inc is a leading developer of advanced SMR and fuel technology for clean energy generation. It is seeking to redefine the nuclear energy industry through its flagship product, the Xe-100, an advanced small modular HTGR designed to generate up to 80 megawatts of electric power and/or up to 200 megawatts of thermal output, depending on the configuration. X-energy's simple and intrinsically safe advanced SMR designs, like the Xe-100, significantly expand the applications and markets for nuclear technology with enhanced safety, lower cost and faster construction timelines when compared with conventional nuclear energy sources and broader use cases when compared with other SMRs.
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