ENCE Energia y Celulosa (XMAD:ENC) Scaled Net Operating Assets: 0.59 (As of Mar. 2026)


XMAD:ENC ENCE Energia y Celulosa SA XMAD:ENC
63 GF Score
Price €2.29
GF Value €2.51
Valuation Fairly Valued
! 4 Warning Signs
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What is ENCE Energia y Celulosa Scaled Net Operating Assets?

ENCE Energia y Celulosa XMAD:ENC +0.44% 63 Scaled Net Operating Assets is 0.59 as of Mar. 2026. GuruFocus rates XMAD:ENC with a GF Score™ of 63/100 and a GF Value™ of €2.51 (Fairly Valued). 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.

ENCE Energia y Celulosa's operating assets for the quarter that ended in Mar. 2026 was €1,448.9 Mil. ENCE Energia y Celulosa's operating liabilities for the quarter that ended in Mar. 2026 was €489.3 Mil. ENCE Energia y Celulosa's Total Assets for the quarter that ended in Dec. 2025 was €1,636.9 Mil. Therefore, ENCE Energia y Celulosa's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.59.


ENCE Energia y Celulosa Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for ENCE Energia y Celulosa'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.

ENCE Energia y Celulosa Scaled Net Operating Assets Chart

ENCE Energia y Celulosa Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.36 0.45 0.48 0.52 0.53

ENCE Energia y Celulosa 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 0.60 0.54 0.58 0.53 0.59

ENCE Energia y Celulosa Scaled Net Operating Assets Competitor Comparison

For the Paper & Paper Products subindustry, ENCE Energia y Celulosa'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.


ENCE Energia y Celulosa Scaled Net Operating Assets vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, ENCE Energia y Celulosa's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where ENCE Energia y Celulosa's Scaled Net Operating Assets falls into.


XMAD:ENC
63GF Score
ENCE Energia y Celulosa SA XMAD:ENC
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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ENCE Energia y Celulosa 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.

ENCE Energia y Celulosa'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 )
=(1406.949-510.992)/1682.447
=0.53

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1636.87 - 229.921
=1406.949

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1070.205 - 434.311 - 124.902
=510.992

ENCE Energia y Celulosa'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 )
=(1448.9-489.3)/1636.87
=0.59

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1646.1 - 197.2
=1448.9

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=1100.9 - 491 - 120.6
=489.3

* 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 0.59 mean?
ENCE Energia y Celulosa (XMAD:ENC) has a Scaled Net Operating Assets of 0.59 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 ENCE Energia y Celulosa and its competitors.
Is ENCE Energia y Celulosa's Scaled Net Operating Assets too high?
ENCE Energia y Celulosa's current Scaled Net Operating Assets is 0.59. Overall, ENCE Energia y Celulosa has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does ENCE Energia y Celulosa's Scaled Net Operating Assets compare to competitors?
ENCE Energia y Celulosa's Scaled Net Operating Assets of 0.59 can be compared against companies in the Forest 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 a Forest Products company?
A good Scaled Net Operating Assets depends on the Forest 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 ENCE Energia y Celulosa and its competitors. ENCE Energia y Celulosa's current Scaled Net Operating Assets is 0.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ENCE Energia y Celulosa stock overvalued right now?
Based on GuruFocus' analysis, ENCE Energia y Celulosa (XMAD:ENC) is currently considered Fairly Valued. The stock's GF Value™ is €2.51, compared to a current price of €2.29 — trading 8.8% below its estimated fair value. The current Scaled Net Operating Assets is 0.59. ENCE Energia y Celulosa's overall GF Score™ is 63/100 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 ENCE Energia y Celulosa (XMAD:ENC), the current Scaled Net Operating Assets is 0.59 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 ENCE Energia y Celulosa (XMAD:ENC) Overvalued in 2026?

Based on GuruFocus' analysis, ENCE Energia y Celulosa stock appears to be undervalued. The current stock price of €2.29 is trading 8.8% below its estimated GF Value™ of €2.51. GuruFocus considers ENCE Energia y Celulosa to be Fairly Valued.

Key valuation signals for XMAD:ENC:

  • Scaled Net Operating Assets: 0.59
  • GF Value™: €2.51 vs. price of €2.29 (8.8% below fair value)
  • GF Score™: 63/100 with 4 warning signs

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


ENCE Energia y Celulosa Business Description

Other Exchanges 0K96:UKENCA:Germany
Address Estebanez Calderon 3-5, 2nd floor, Madrid, ESP, 28020
ENCE Energia y Celulosa SA produces and sells pulp. The company has two segments namely ENCE Pulp and ENCE Renewables. ENCE Pulp segment includes pulp production and sale activities. ENCE Renewables segment involves Biomass, Biomethane, and production of renewable industrial heat.
63GF Score

Get the complete analysis for XMAD:ENC

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

€2.29
Price
€2.51
GF Value