Kumulus Vape (XPAR:ALVAP) Scaled Net Operating Assets: 0.52 (As of Dec. 2025)


XPAR:ALVAP Kumulus Vape XPAR:ALVAP
76 GF Score
Price €3.00
GF Value €6.30
Valuation Significantly Undervalued
! 4 Warning Signs
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What is Kumulus Vape Scaled Net Operating Assets?

Kumulus Vape XPAR:ALVAP 76 Scaled Net Operating Assets is 0.52 as of Dec. 2025. GuruFocus rates XPAR:ALVAP with a GF Score™ of 76/100 and a GF Value™ of €6.30 (Significantly Undervalued). 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.

Kumulus Vape's operating assets for the quarter that ended in Dec. 2025 was €21.06 Mil. Kumulus Vape's operating liabilities for the quarter that ended in Dec. 2025 was €7.09 Mil. Kumulus Vape's Total Assets for the quarter that ended in Jun. 2025 was €27.04 Mil. Therefore, Kumulus Vape's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.52.

Kumulus Vape Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Kumulus Vape'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.

Kumulus Vape Scaled Net Operating Assets Chart

Kumulus Vape 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 0.89 0.97 0.65 0.64 0.52

Kumulus Vape Semi-Annual Data
Dec16 Dec17 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 0.65 0.59 0.62 0.63 0.52

XPAR:ALVAP vs AMZN, BABA, PDD: Scaled Net Operating Assets Comparison

For the Internet Retail subindustry, Kumulus Vape'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.

Kumulus Vape Scaled Net Operating Assets vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Kumulus Vape's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Kumulus Vape's Scaled Net Operating Assets falls into.


XPAR:ALVAP
76GF Score
Kumulus Vape XPAR:ALVAP
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Kumulus Vape 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.

Kumulus Vape'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 )
=(21.057-7.093)/26.946
=0.52

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=27.525 - 6.468
=21.057

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=10.574 - 2.529 - 0.952
=7.093

Kumulus Vape'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 )
=(21.057-7.093)/27.039
=0.52

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=27.525 - 6.468
=21.057

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=10.574 - 2.529 - 0.952
=7.093

* 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 0.52 mean?
Kumulus Vape (XPAR:ALVAP) has a Scaled Net Operating Assets of 0.52 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 Kumulus Vape and its competitors.
Is Kumulus Vape's Scaled Net Operating Assets too high?
Kumulus Vape's current Scaled Net Operating Assets is 0.52. Overall, Kumulus Vape has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kumulus Vape's Scaled Net Operating Assets compare to AMZN and BABA?
Kumulus Vape's Scaled Net Operating Assets of 0.52 can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good Scaled Net Operating Assets depends on the Retail - Cyclical 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 Kumulus Vape and its competitors. Kumulus Vape's current Scaled Net Operating Assets is 0.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kumulus Vape stock overvalued right now?
Based on GuruFocus' analysis, Kumulus Vape (XPAR:ALVAP) is currently considered Significantly Undervalued. The stock's GF Value™ is €6.30, compared to a current price of €3.00 — trading 52.4% below its estimated fair value. The current Scaled Net Operating Assets is 0.52. Kumulus Vape's overall GF Score™ is 76/100 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 Kumulus Vape (XPAR:ALVAP), the current Scaled Net Operating Assets is 0.52 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 Kumulus Vape (XPAR:ALVAP) Overvalued in 2026?

Based on GuruFocus' analysis, Kumulus Vape stock appears to be undervalued. The current stock price of €3.00 is trading 52.4% below its estimated GF Value™ of €6.30. GuruFocus considers Kumulus Vape to be Significantly Undervalued.

Key valuation signals for XPAR:ALVAP:

  • Scaled Net Operating Assets: 0.52
  • GF Value™: €6.30 vs. price of €3.00 (52.4% below fair value)
  • GF Score™: 76/100 with 4 warning signs

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

Kumulus Vape Business Description

Other Exchanges 8E9:Germany
Address 21 rue Marcel Merieux, Corbas, FRA, 69960
Kumulus Vape specializes in the online distribution of electronic cigarettes and related products (equipment, e-liquids, and accessories). The activity is organized around two business areas: BtoC: the company commercializes its retail products on its online platform; BtoB: the KMLS PRO platform is the central purchase platform for professionals (networks of several outlets or independent shops) in the vape sector.
76GF Score

Get the complete analysis for XPAR:ALVAP

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

€3.00
Price
€6.30
GF Value