Scottish Mortgage Investment Trust plc (SMT) — Net Asset Quality Index
Scottish Mortgage Investment Trust plc (SMT) has a Net Asset Quality Index of 89.6% as of September 2025. This metric measures the proportion of total assets financed by shareholders' equity — total assets of GBX15.57 Billion minus total liabilities of GBX1.62 Billion yields net assets of GBX13.94 Billion. A higher index indicates a stronger, lower-leverage balance sheet. Check SMT cash flow quality index to evaluate the quality of earnings relative to operating cash generation.
Quality Index
Net Assets
Total Assets
Total Liabilities
Scottish Mortgage Investment Trust plc Net Asset Quality Index Over Time (2000–2025)
This chart shows how Scottish Mortgage Investment Trust plc's Net Asset Quality Index has evolved across 26 annual periods from 2000 to 2025. As of September 2025, the index stands at 89.6%, representing net assets of GBX13.94 Billion against total assets of GBX15.57 Billion GBX. See net assets of Scottish Mortgage Investment Trust plc for net asset value and shareholders' equity analysis.
Annual Net Asset Quality Index for Scottish Mortgage Investment Trust plc (2000–2025)
The table below presents the year-by-year Net Asset Quality Index for Scottish Mortgage Investment Trust plc from 2000 to 2025, covering 26 annual filings. Each row shows total assets, total liabilities, net assets, the quality index percentage, and the change in percentage points compared to the prior year. For live market cap and overall valuation, see Scottish Mortgage Investment Trust plc (SMT) total market value.
| Year | Quality Index | Net Assets (GBX) | Total Assets | Total Liabilities | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 87.9% | GBX12.08 Billion | GBX13.74 Billion | GBX1.66 Billion | ▲ +0.9 pp |
| 2024 | 87.1% | GBX12.63 Billion | GBX14.51 Billion | GBX1.88 Billion | ▲ +0.9 pp |
| 2023 | 86.1% | GBX11.50 Billion | GBX13.35 Billion | GBX1.85 Billion | ▼ -1.1 pp |
| 2022 | 87.2% | GBX14.76 Billion | GBX16.91 Billion | GBX2.16 Billion | ▼ -5.7 pp |
| 2021 | 93.0% | GBX16.99 Billion | GBX18.28 Billion | GBX1.29 Billion | ▲ +3.0 pp |
| 2020 | 89.9% | GBX8.24 Billion | GBX9.17 Billion | GBX921.96 Million | ▼ -1.1 pp |
| 2019 | 91.0% | GBX7.43 Billion | GBX8.16 Billion | GBX732.37 Million | ▼ -1.6 pp |
| 2018 | 92.6% | GBX6.19 Billion | GBX6.68 Billion | GBX496.00 Million | ▲ +2.2 pp |
| 2017 | 90.4% | GBX4.87 Billion | GBX5.39 Billion | GBX517.68 Million | ▲ +3.3 pp |
| 2016 | 87.1% | GBX3.46 Billion | GBX3.97 Billion | GBX512.70 Million | ▲ +0.0 pp |
| 2015 | 87.1% | GBX3.33 Billion | GBX3.83 Billion | GBX494.31 Million | ▲ +0.7 pp |
| 2014 | 86.4% | GBX2.60 Billion | GBX3.01 Billion | GBX409.72 Million | ▲ +1.1 pp |
| 2013 | 85.3% | GBX2.22 Billion | GBX2.60 Billion | GBX382.75 Million | ▲ +1.1 pp |
| 2012 | 84.2% | GBX2.01 Billion | GBX2.39 Billion | GBX378.49 Million | ▼ -0.6 pp |
| 2011 | 84.7% | GBX2.13 Billion | GBX2.52 Billion | GBX384.12 Million | ▼ -0.5 pp |
| 2010 | 85.2% | GBX1.84 Billion | GBX2.16 Billion | GBX319.30 Million | ▲ +8.4 pp |
| 2009 | 76.8% | GBX1.08 Billion | GBX1.41 Billion | GBX326.50 Million | ▼ -3.3 pp |
| 2008 | 80.1% | GBX1.84 Billion | GBX2.29 Billion | GBX456.09 Million | ▼ -5.1 pp |
| 2007 | 85.2% | GBX1.77 Billion | GBX2.08 Billion | GBX306.24 Million | ▼ -2.9 pp |
| 2006 | 88.1% | GBX1.75 Billion | GBX1.99 Billion | GBX235.80 Million | ▲ +3.5 pp |
| 2005 | 84.6% | GBX1.24 Billion | GBX1.47 Billion | GBX225.92 Million | ▲ +2.6 pp |
| 2004 | 82.0% | GBX1.13 Billion | GBX1.38 Billion | GBX247.51 Million | ▲ +3.6 pp |
| 2003 | 78.4% | GBX844.32 Million | GBX1.08 Billion | GBX232.70 Million | ▼ -6.9 pp |
| 2002 | 85.3% | GBX1.30 Billion | GBX1.53 Billion | GBX225.21 Million | ▼ -2.0 pp |
| 2001 | 87.3% | GBX1.46 Billion | GBX1.68 Billion | GBX213.64 Million | ▲ +0.7 pp |
| 2000 | 86.5% | GBX1.93 Billion | GBX2.23 Billion | GBX300.36 Million | — |