Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Top Glove Bhd's Revenue for the
three
months ended in Feb. 2024 was $115.5 Mil. Top Glove Bhd's Total Assets for the quarter that ended in Feb. 2024 was $1,483.0 Mil. Therefore, Top Glove Bhd's Asset Turnover for the quarter that ended in Feb. 2024 was 0.08.
Asset Turnover is linked to ROE % through Du Pont Formula. Top Glove Bhd's annualizedROE % for the quarter that ended in Feb. 2024 was -2.70%. It is also linked to ROA % through Du Pont Formula. Top Glove Bhd's annualizedROA % for the quarter that ended in Feb. 2024 was -2.24%.
Top Glove Bhd Asset Turnover Historical Data
The historical data trend for Top Glove Bhd's Asset Turnover 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.
Competitive Comparison of Top Glove Bhd's Asset Turnover
For the Medical Instruments & Supplies subindustry, Top Glove Bhd's Asset Turnover, along with its competitors' market caps and Asset Turnover 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.
Top Glove Bhd's Asset Turnover Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Top Glove Bhd's Asset Turnover distribution charts can be found below:
* The bar in red indicates where Top Glove Bhd's Asset Turnover falls into.
Top Glove Bhd Asset Turnover Calculation
Asset Turnover measures how quickly a company turns over its asset through sales.
Top Glove Bhd's Asset Turnover for the fiscal year that ended in Aug. 2023 is calculated as
* 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.
Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.
Top Glove Bhd (OTCPK:TPGVF) Asset Turnover Explanation
Asset Turnover is linked to ROE % through Du Pont Formula.
Top Glove Bhd's annulizedROE % for the quarter that ended in Feb. 2024 is
Note:
The Net Income data used here is four times the quarterly (Feb. 2024) net income data. The Revenue data used here is four times the quarterly (Feb. 2024) revenue data.
* 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.
** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.
It is also linked to ROA % through Du Pont Formula:
Top Glove Bhd's annulizedROA % for the quarter that ended in Feb. 2024 is
Note:
The Net Income data used here is four times the quarterly (Feb. 2024) net income data. The Revenue data used here is four times the quarterly (Feb. 2024) revenue data.
* 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.
Be Aware
In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.
Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.
Top Glove Bhd Asset Turnover Related Terms
Thank you for viewing the detailed overview of Top Glove Bhd's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Top Glove Bhd (Top Glove Bhd) Business Description
Top Glove Corp Bhd manufactures and sells gloves through several product lines to a diverse group of world-wide customers. Some of the different glove options include latex, nitrile, vinyl, PE, Polychloroprene, Polyisoprene, Flexylon, HDPE and surgical. Top Glove's products are utilized in an array of end markets such as aerospace, food, Personal care, medical care, oral care and home care. Traditionally, the company has derived over half of its sales from its nitrile and powdered latex product lines, with customers in North America and Europe generating the majority demand.
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