Scottish Mortgage Investment Trust plc (SMT) — Tangible Net Worth Ratio
Scottish Mortgage Investment Trust plc (SMT) has a Tangible Net Worth Ratio of 100.0% as of September 2025. This metric is calculated by deducting intangible assets (GBX0.00) from net assets (GBX13.94 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. For live market cap and overall valuation, see Scottish Mortgage Investment Trust plc (SMT) market capitalisation.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Scottish Mortgage Investment Trust plc Tangible Net Worth Ratio (2000–2025)
This chart shows how Scottish Mortgage Investment Trust plc's Tangible Net Worth Ratio has changed across 26 annual periods from 2000 to 2025. As of September 2025, the ratio stands at 100.0%, reflecting net assets of GBX13.94 Billion with intangible assets of GBX0.00 GBX. Also explore net asset momentum of Scottish Mortgage Investment Trust plc to track the company's year-over-year net asset growth rate.
Annual Tangible Net Worth Ratio for Scottish Mortgage Investment Trust plc (2000–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Scottish Mortgage Investment Trust plc from 2000 to 2025, covering 26 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. See Scottish Mortgage Investment Trust plc (SMT) financial flexibility to measure the company's free cash flow as a share of total liabilities.
| Year | Tangible NW Ratio | Net Assets (GBX) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 100.0% | GBX12.08 Billion | GBX0.00 | GBX13.74 Billion | ▲ +0.0 pp |
| 2024 | 100.0% | GBX12.63 Billion | GBX0.00 | GBX14.51 Billion | ▲ +0.0 pp |
| 2023 | 100.0% | GBX11.50 Billion | GBX0.00 | GBX13.35 Billion | ▲ +0.0 pp |
| 2022 | 100.0% | GBX14.76 Billion | GBX0.00 | GBX16.91 Billion | ▲ +0.0 pp |
| 2021 | 100.0% | GBX16.99 Billion | GBX0.00 | GBX18.28 Billion | ▲ +0.0 pp |
| 2020 | 100.0% | GBX8.24 Billion | GBX0.00 | GBX9.17 Billion | ▲ +0.0 pp |
| 2019 | 100.0% | GBX7.43 Billion | GBX0.00 | GBX8.16 Billion | ▲ +0.0 pp |
| 2018 | 100.0% | GBX6.19 Billion | GBX0.00 | GBX6.68 Billion | ▲ +0.0 pp |
| 2017 | 100.0% | GBX4.87 Billion | GBX0.00 | GBX5.39 Billion | ▲ +0.0 pp |
| 2016 | 100.0% | GBX3.46 Billion | GBX0.00 | GBX3.97 Billion | ▲ +0.0 pp |
| 2015 | 100.0% | GBX3.33 Billion | GBX0.00 | GBX3.83 Billion | ▲ +0.0 pp |
| 2014 | 100.0% | GBX2.60 Billion | GBX0.00 | GBX3.01 Billion | ▲ +0.0 pp |
| 2013 | 100.0% | GBX2.22 Billion | GBX0.00 | GBX2.60 Billion | ▲ +0.0 pp |
| 2012 | 100.0% | GBX2.01 Billion | GBX0.00 | GBX2.39 Billion | ▲ +0.0 pp |
| 2011 | 100.0% | GBX2.13 Billion | GBX0.00 | GBX2.52 Billion | ▲ +0.0 pp |
| 2010 | 100.0% | GBX1.84 Billion | GBX0.00 | GBX2.16 Billion | ▲ +0.0 pp |
| 2009 | 100.0% | GBX1.08 Billion | GBX0.00 | GBX1.41 Billion | ▲ +0.0 pp |
| 2008 | 100.0% | GBX1.84 Billion | GBX0.00 | GBX2.29 Billion | ▲ +0.0 pp |
| 2007 | 100.0% | GBX1.77 Billion | GBX0.00 | GBX2.08 Billion | ▲ +0.0 pp |
| 2006 | 100.0% | GBX1.75 Billion | GBX0.00 | GBX1.99 Billion | ▲ +0.0 pp |
| 2005 | 100.0% | GBX1.24 Billion | GBX0.00 | GBX1.47 Billion | ▲ +0.0 pp |
| 2004 | 100.0% | GBX1.13 Billion | GBX0.00 | GBX1.38 Billion | ▲ +0.0 pp |
| 2003 | 100.0% | GBX844.32 Million | GBX0.00 | GBX1.08 Billion | ▲ +0.0 pp |
| 2002 | 100.0% | GBX1.30 Billion | GBX0.00 | GBX1.53 Billion | ▲ +0.0 pp |
| 2001 | 100.0% | GBX1.46 Billion | GBX0.00 | GBX1.68 Billion | ▲ +0.0 pp |
| 2000 | 100.0% | GBX1.93 Billion | GBX0.00 | GBX2.23 Billion | — |