Nacon (XPAR:NACON) Scaled Net Operating Assets: 0.79 (As of Sep. 2025)

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XPAR:NACON Nacon SA XPAR:NACON
48 GF Score
Price €0.16
GF Value €0.98
Valuation Possible Value Trap
! 4 Warning Signs
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What is Nacon Scaled Net Operating Assets?

Nacon XPAR:NACON -2.44% 48 Scaled Net Operating Assets is 0.79 as of Sep. 2025. GuruFocus rates XPAR:NACON with a GF Score™ of 48/100 and a GF Value™ of €0.98 (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.

Nacon's operating assets for the quarter that ended in Sep. 2025 was €500.0 Mil. Nacon's operating liabilities for the quarter that ended in Sep. 2025 was €97.1 Mil. Nacon's Total Assets for the quarter that ended in Mar. 2025 was €512.9 Mil. Therefore, Nacon's scaled net operating assets (SNOA) for the quarter that ended in Sep. 2025 was 0.79.


Nacon Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Nacon'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.

Nacon Scaled Net Operating Assets Chart

Nacon Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only 0.59 0.92 0.88 0.79 0.85

Nacon Semi-Annual Data
Mar17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
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 0.78 0.81 0.86 0.80 0.79

XPAR:NACON vs NTES, EA, TTWO: Scaled Net Operating Assets Comparison

For the Electronic Gaming & Multimedia subindustry, Nacon'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.


Nacon Scaled Net Operating Assets vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Nacon's Scaled Net Operating Assets distribution charts can be found below:

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


XPAR:NACON
48GF Score
Nacon SA XPAR:NACON
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nacon 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.

Nacon's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Mar. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Mar. 2025 )
=(Operating Assets (A: Mar. 2025 )-Operating Liabilities (A: Mar. 2025 ))/Total Assets (A: Mar. 2024 )
=(483.662-78.894)/478.958
=0.85

where

Operating Assets(A: Mar. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=512.934 - 29.272
=483.662

Operating Liabilities(A: Mar. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=228.571 - 98.934 - 50.743
=78.894

Nacon's Scaled Net Operating Assets (SNOA) for the quarter that ended in Sep. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Sep. 2025 )
=(Operating Assets (Q: Sep. 2025 )-Operating Liabilities (Q: Sep. 2025 ))/Total Assets (Q: Mar. 2025 )
=(500.04-97.096)/512.934
=0.79

where

Operating Assets(Q: Sep. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=516.515 - 16.475
=500.04

Operating Liabilities(Q: Sep. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=233.257 - 85.872 - 50.289
=97.096

* 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 0.79 mean?
Nacon (XPAR:NACON) has a Scaled Net Operating Assets of 0.79 as of Sep. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Nacon and its competitors.
Is Nacon's Scaled Net Operating Assets too high?
Nacon's current Scaled Net Operating Assets is 0.79. Overall, Nacon has a GF Score™ of 48/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Nacon's Scaled Net Operating Assets compare to NTES and EA?
Nacon's Scaled Net Operating Assets of 0.79 can be compared against companies in the Interactive Media 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 Interactive Media company?
A good Scaled Net Operating Assets depends on the Interactive Media 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 Nacon and its competitors. Nacon's current Scaled Net Operating Assets is 0.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nacon stock overvalued right now?
Based on GuruFocus' analysis, Nacon (XPAR:NACON) is currently considered Possible Value Trap. The stock's GF Value™ is €0.98, compared to a current price of €0.16 — trading 83.7% below its estimated fair value. The current Scaled Net Operating Assets is 0.79. Nacon's overall GF Score™ is 48/100 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 Nacon (XPAR:NACON), the current Scaled Net Operating Assets is 0.79 as of Sep. 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 Nacon (XPAR:NACON) Overvalued in 2026?

Based on GuruFocus' analysis, Nacon stock appears to be undervalued. The current stock price of €0.16 is trading 83.7% below its estimated GF Value™ of €0.98. GuruFocus considers Nacon to be Possible Value Trap.

Key valuation signals for XPAR:NACON:

  • Scaled Net Operating Assets: 0.79
  • GF Value™: €0.98 vs. price of €0.16 (83.7% below fair value)
  • GF Score™: 48/100 with 4 warning signs

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


Nacon Business Description

Other Exchanges 0A9N:UK4AW:Germany
Address 396/466, Rue de la Voyette, CRT 2, Fretin, FRA, 59273
Nacon SA is engaged in the development, publishing, marketing, and distribution of video games in physical and digital formats and the design, development, manufacturing, and distribution of video game accessories. Products/services: The Group offers video game software for consoles and PC, including internally and externally developed titles, and a range of gaming accessories such as controllers and related peripherals. Segments: It operates through two main segments, comprising video games (development and publishing) and gaming accessories. The Group operates internationally, with activities covering Europe, North America, and other international markets through digital platforms, distributors, and subsidiaries.
48GF Score

Get the complete analysis for XPAR:NACON

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

€0.16
Price
€0.98
GF Value