Xerox Holdings (XTER:XER2) Scaled Net Operating Assets: 0.45 (As of Mar. 2026)


XTER:XER2 Xerox Holdings Corp XTER:XER2
55 GF Score
Price €13.85
GF Value €52.35
! 6 Warning Signs
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What is Xerox Holdings Scaled Net Operating Assets?

Xerox Holdings XTER:XER2 55 Scaled Net Operating Assets is 0.45 as of Mar. 2026. GuruFocus rates XTER:XER2 with a GF Score™ of 55/100 and a GF Value™ of €52.35. The stock has 6 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.

Xerox Holdings's operating assets for the quarter that ended in Mar. 2026 was €8,059 Mil. Xerox Holdings's operating liabilities for the quarter that ended in Mar. 2026 was €4,262 Mil. Xerox Holdings's Total Assets for the quarter that ended in Dec. 2025 was €8,389 Mil. Therefore, Xerox Holdings's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.45.

Xerox Holdings Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Xerox Holdings'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.

Xerox Holdings Scaled Net Operating Assets Chart

Xerox Holdings 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 0.52 0.52 0.48 0.45 0.51

Xerox Holdings 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 0.49 0.55 0.50 0.47 0.45

XTER:XER2 vs ACTG, ACCO, EBF: Scaled Net Operating Assets Comparison

For the Business Equipment & Supplies subindustry, Xerox Holdings'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.

Xerox Holdings Scaled Net Operating Assets vs Industrial Products Industry

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

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


XTER:XER2
55GF Score
Xerox Holdings Corp XTER:XER2
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Xerox Holdings 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.

Xerox Holdings'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 )
=(7951.594-3907.904)/7988.575
=0.51

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=8388.842 - 437.248
=7951.594

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=7814.1 - 3654.266 - 251.93
=3907.904

Xerox Holdings'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 )
=(8059.205-4261.855)/8388.842
=0.45

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=8565.23 - 506.025
=8059.205

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=8107.645 - 3703.065 - 142.725
=4261.855

* 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 0.45 mean?
Xerox Holdings (XTER:XER2) has a Scaled Net Operating Assets of 0.45 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 Xerox Holdings and its competitors.
Is Xerox Holdings' Scaled Net Operating Assets too high?
Xerox Holdings' current Scaled Net Operating Assets is 0.45. Overall, Xerox Holdings has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does Xerox Holdings' Scaled Net Operating Assets compare to ACTG and ACCO?
Xerox Holdings' Scaled Net Operating Assets of 0.45 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 Xerox Holdings and its competitors. Xerox Holdings's current Scaled Net Operating Assets is 0.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Xerox Holdings stock overvalued right now?
Xerox Holdings (XTER:XER2) has a current Scaled Net Operating Assets of 0.45. The stock's GF Value™ is €52.35, compared to a current price of €13.85 — trading 73.5% below its estimated fair value. The current Scaled Net Operating Assets is 0.45. Xerox Holdings' overall GF Score™ is 55/100 with 6 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 Xerox Holdings (XTER:XER2), the current Scaled Net Operating Assets is 0.45 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 Xerox Holdings (XTER:XER2) Overvalued in 2026?

Based on GuruFocus' analysis, Xerox Holdings stock appears to be undervalued. The current stock price of €13.85 is trading 73.5% below its estimated GF Value™ of €52.35.

Key valuation signals for XTER:XER2:

  • Scaled Net Operating Assets: 0.45
  • GF Value™: €52.35 vs. price of €13.85 (73.5% below fair value)
  • GF Score™: 55/100 with 6 warning signs

No single metric tells the full story. See the XTER:XER2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Xerox Holdings Business Description

Address 401 MERRITT 7, P.O. Box 4505, Norwalk, CT, USA, 06851-1056
Xerox Holdings Corp is a workplace technology company, building and integrating services-led, software-enabled, workplace solutions for enterprises large and small. It provide advance document technology, services, software, and integrated IT infrastructure solutions for a range of customers including small and mid-sized businesses, large enterprises, governments and graphic communications providers, and for partners who serve them. Xerox serves customers globally in North America, Europe, Latin America, Brazil, Asia Pacific (APAC), the Middle East, Africa, and India.
55GF Score

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

€13.85
Price
€52.35
GF Value