Fortescue's Total Assets for the quarter that ended in Dec. 2023 was $29,885 Mil.
During the past 12 months, Fortescue's average Total Assets Growth Rate was 5.70% per year.
During the past 3 years, the average Total Assets Growth Rate was 9.90% per year.
During the past 5 years, the average Total Assets Growth Rate was 9.10% per year.
During the past 10 years, the average Total Assets Growth Rate was 5.00% per year.
During the past 13 years, Fortescue's highest 3-Year average Total Assets Growth Rate was 1005.50%. The lowest was -88.60%. And the median was 28.60%.
Total Assets is connected with ROA %. Fortescue's annualizedROA % for the quarter that ended in Dec. 2023 was 22.97%. Total Assets is also linked to Revenue through Asset Turnover. Fortescue's Asset Turnover for the quarter that ended in Dec. 2023 was 0.33.
Fortescue Total Assets Historical Data
The historical data trend for Fortescue's Total Assets 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.
From the capital sources of the assets, some of the assets are funded through shareholder's paid in capital and retained earnings of the business. Others are funded through borrowed money.
Fortescue's Total Assets for the fiscal year that ended in Jun. 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.
Note:
The Net Income data used here is two times the semi-annual (Dec. 2023) data.
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.
Total Assets is linked to total revenue through Asset Turnover.
Fortescue's Asset Turnover for the quarter that ended in Dec. 2023 is
* 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.
Therefore, if a company grows its Total Assets faster than its Revenue, the Asset Turnover will decline. This might be a warning sign for the business.
Fortescue Total Assets Related Terms
Thank you for viewing the detailed overview of Fortescue's Total Assets provided by GuruFocus.com. Please click on the following links to see related term pages.
Fortescue is an Australia-based iron ore miner. It has grown from obscurity start of 2008 to become the world's fourth-largest producer. Growth was fueled by debt, now repaid. Expansion from 55 million metric tons in fiscal 2012 to about 190 million metric tons in 2023 means Fortescue supplies nearly 10% of global seaborne iron ore. Further expansion above 200 million metric tons is likely once it completes construction of its 22 million metric tons Iron Bridge magnetite mine. However, with longer-term demand likely to decline as China's economy matures, we expect Fortescue's future margins to be below historical averages. More recently, Fortescue diversified into green energy, with ambitions to become a major supplier of green hydrogen and green ammonia. Its efforts are early stage.
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