Net Operating Assets
Total capital employed in business operations: combines Working Capital (short-term needs) plus Other Capital (long-term investments). This is what you're trying to generate returns on.
- How it's worked out
- Working Capital + Other Capital (or Total Assets − Non-Operating Assets)
- Which way is better
- Lower is betterLower is better for cash.
Written by Mandy Walker, founder of Focus on Cash. Updated October 2026. This explanation comes from the glossary inside Focus on Cash, so it matches the words you see in the app.
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