Fraser & Neave Holdings Bhd (XKLS:3689) Scaled Net Operating Assets: 0.68 (As of Mar. 2026)


XKLS:3689 Fraser & Neave Holdings Bhd XKLS:3689
86 GF Score
Price RM27.92
GF Value RM28.08
Valuation Fairly Valued
! 2 Warning Signs
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What is Fraser & Neave Holdings Bhd Scaled Net Operating Assets?

Fraser & Neave Holdings Bhd XKLS:3689 +0.22% 86 Scaled Net Operating Assets is 0.68 as of Mar. 2026. GuruFocus rates XKLS:3689 with a GF Score™ of 86/100 and a GF Value™ of RM28.08 (Fairly Valued). The stock has 2 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.

Fraser & Neave Holdings Bhd's operating assets for the quarter that ended in Mar. 2026 was RM5,180 Mil. Fraser & Neave Holdings Bhd's operating liabilities for the quarter that ended in Mar. 2026 was RM1,222 Mil. Fraser & Neave Holdings Bhd's Total Assets for the quarter that ended in Dec. 2025 was RM5,848 Mil. Therefore, Fraser & Neave Holdings Bhd's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.68.


Fraser & Neave Holdings Bhd Scaled Net Operating Assets Historical Data

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The historical data trend for Fraser & Neave Holdings Bhd'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.

Fraser & Neave Holdings Bhd Scaled Net Operating Assets Chart

Fraser & Neave Holdings Bhd Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.66 0.78 0.74 0.63 0.71

Fraser & Neave Holdings Bhd 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 0.62 0.64 0.68 0.70 0.68

XKLS:3689 vs KO, PEP, MNST: Scaled Net Operating Assets Comparison

For the Beverages - Non-Alcoholic subindustry, Fraser & Neave Holdings Bhd'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.


Fraser & Neave Holdings Bhd Scaled Net Operating Assets vs Beverages - Non-Alcoholic Industry

For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Fraser & Neave Holdings Bhd's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Fraser & Neave Holdings Bhd's Scaled Net Operating Assets falls into.


XKLS:3689
86GF Score
Fraser & Neave Holdings Bhd XKLS:3689
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Fraser & Neave Holdings Bhd 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.

Fraser & Neave Holdings Bhd's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Sep. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Sep. 2025 )
=(Operating Assets (A: Sep. 2025 )-Operating Liabilities (A: Sep. 2025 ))/Total Assets (A: Sep. 2024 )
=(4987.924-1078.483)/5474.477
=0.71

where

Operating Assets(A: Sep. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=5613.785 - 625.861
=4987.924

Operating Liabilities(A: Sep. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1734.648 - 392.481 - 263.684
=1078.483

Fraser & Neave Holdings Bhd'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 )
=(5179.65-1221.93)/5848.023
=0.68

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=5785.775 - 606.125
=5179.65

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1870.32 - 385.229 - 263.161
=1221.93

* 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 0.68 mean?
Fraser & Neave Holdings Bhd (XKLS:3689) has a Scaled Net Operating Assets of 0.68 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 Fraser & Neave Holdings Bhd and its competitors.
Is Fraser & Neave Holdings Bhd's Scaled Net Operating Assets too high?
Fraser & Neave Holdings Bhd's current Scaled Net Operating Assets is 0.68. Overall, Fraser & Neave Holdings Bhd has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Fraser & Neave Holdings Bhd's Scaled Net Operating Assets compare to KO and PEP?
Fraser & Neave Holdings Bhd's Scaled Net Operating Assets of 0.68 can be compared against companies in the Beverages - Non-Alcoholic 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 Beverages - Non-Alcoholic company?
A good Scaled Net Operating Assets depends on the Beverages - Non-Alcoholic 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 Fraser & Neave Holdings Bhd and its competitors. Fraser & Neave Holdings Bhd's current Scaled Net Operating Assets is 0.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fraser & Neave Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, Fraser & Neave Holdings Bhd (XKLS:3689) is currently considered Fairly Valued. The stock's GF Value™ is RM28.08, compared to a current price of RM27.92 — trading 0.6% below its estimated fair value. The current Scaled Net Operating Assets is 0.68. Fraser & Neave Holdings Bhd's overall GF Score™ is 86/100 with 2 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 Fraser & Neave Holdings Bhd (XKLS:3689), the current Scaled Net Operating Assets is 0.68 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 Fraser & Neave Holdings Bhd (XKLS:3689) Overvalued in 2026?

Based on GuruFocus' analysis, Fraser & Neave Holdings Bhd stock appears to be undervalued. The current stock price of RM27.92 is trading 0.6% below its estimated GF Value™ of RM28.08. GuruFocus considers Fraser & Neave Holdings Bhd to be Fairly Valued.

Key valuation signals for XKLS:3689:

  • Scaled Net Operating Assets: 0.68
  • GF Value™: RM28.08 vs. price of RM27.92 (0.6% below fair value)
  • GF Score™: 86/100 with 2 warning signs

No single metric tells the full story. See the XKLS:3689 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fraser & Neave Holdings Bhd Business Description

Address No. 1 Jalan Bukit Belimbing 26/38, Persiaran Kuala Selangor, Seksyen 26, Shah Alam, SGR, MYS, 40400
Fraser & Neave Holdings Bhd manufactures and sells canned milk, both condensed and evaporated and other dairy products and soft drinks. The company manufactures its products in Malaysia and Thailand and operates through four main segments: F&B Malaysia, which generates maximum revenue, F&B Thailand, Property, and Others. F&B Malaysia and F&B Thailand manufacture both soft drinks and dairies. Its core soft drink brands include 100PLUS, F&N Fun Flavours, F&N NutriSoy, F&N Seasons, F&N Ice Mountain, and others. Its dairy brands include Carnation, Magnolia, Teapot, Farmhouse, Gold Coin, and F&N Fruit Tree, among others. Geographically, the company derives a majority of its revenue from Southeast Asia and the rest from other regions.
86GF Score

Get the complete analysis for XKLS:3689

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

RM27.92
Price
RM28.08
GF Value