Groove Botanicals (Groove Botanicals) Return-on-Tangible-Asset : -7,000.00% (As of Sep. 2023)

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What is Groove Botanicals Return-on-Tangible-Asset?

Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Groove Botanicals's annualized Net Income for the quarter that ended in Sep. 2023 was $-0.21 Mil. Groove Botanicals's average total tangible assets for the quarter that ended in Sep. 2023 was $0.00 Mil. Therefore, Groove Botanicals's annualized Return-on-Tangible-Asset for the quarter that ended in Sep. 2023 was -7,000.00%.

The historical rank and industry rank for Groove Botanicals's Return-on-Tangible-Asset or its related term are showing as below:

GRVE' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -3500 Med: -61.71 Max: 3.75
Current: -3500

During the past 13 years, Groove Botanicals's highest Return-on-Tangible-Asset was 3.75%. The lowest was -3500.00%. And the median was -61.71%.

GRVE's Return-on-Tangible-Asset is ranked worse than
99.63% of 1087 companies
in the Oil & Gas industry
Industry Median: 2.6 vs GRVE: -3500.00

Groove Botanicals Return-on-Tangible-Asset Historical Data

The historical data trend for Groove Botanicals's Return-on-Tangible-Asset 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.

* Premium members only.

Groove Botanicals Return-on-Tangible-Asset Chart

Groove Botanicals Annual Data

Trend

Mar08

Mar09

Mar10

Mar11

Mar12

Mar13

Mar14

Mar15

Mar16

Mar17

Return-on-Tangible-Asset

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-30.81

-31.05

3.75

-163.23

-67.24

Groove Botanicals Semi-Annual Data
	Mar09	Sep09	Mar10	Sep10	Mar11	Sep11	Mar12	Sep12	Mar13	Sep13	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Sep22	Sep23
Return-on-Tangible-Asset	Get a 7-Day Free Trial															-33.29	-101.75	-40.45	-52.35	-7,000.00

Competitive Comparison of Groove Botanicals's Return-on-Tangible-Asset

For the Oil & Gas E&P subindustry, Groove Botanicals's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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.

Groove Botanicals's Return-on-Tangible-Asset Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Groove Botanicals's Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where Groove Botanicals's Return-on-Tangible-Asset falls into.

Groove Botanicals Return-on-Tangible-Asset Calculation

Groove Botanicals's annualized Return-on-Tangible-Asset for the fiscal year that ended in Mar. 2017 is calculated as:

Return-on-Tangible-Asset	=	Net Income	/	( (Total Tangible Assets	+	Total Tangible Assets)	/ count )
		(A: Mar. 2017 )		(A: Mar. 2016 )		(A: Mar. 2017 )
	=	Net Income	/	( (Total Assets - Intangible Assets	+	Total Assets - Intangible Assets)	/ count )
		(A: Mar. 2017 )		(A: Mar. 2016 )		(A: Mar. 2017 )
	=	-0.235	/	( (0.374	+	0.325)	/ 2 )
	=	-0.235	/	0.3495
	=	-67.24 %

Groove Botanicals's annualized Return-on-Tangible-Asset for the quarter that ended in Sep. 2023 is calculated as:

Return-on-Tangible-Asset	=	Net Income	/	( (Total Tangible Assets	+	Total Tangible Assets)	/ count )
		(Q: Sep. 2023 )		(Q: Sep. 2022 )		(Q: Sep. 2023 )
	=	Net Income	/	( (Total Assets - Intangible Assets	+	Total Assets - Intangible Assets)	/ count )
		(Q: Sep. 2023 )		(Q: Sep. 2022 )		(Q: Sep. 2023 )
	=	-0.21	/	( (0	+	0.003)	/ 1 )
	=	-0.21	/	0.003
	=	-7,000.00 %

In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is two times the semi-annual (Sep. 2023) net income data.

Groove Botanicals (OTCPK:GRVE) Return-on-Tangible-Asset Explanation

Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.

Be Aware

Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.

Groove Botanicals Return-on-Tangible-Asset Related Terms

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