Summit Minerals (ASX:SUM) Total Assets : A$8.33 Mil (As of Dec. 2023)

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What is Summit Minerals Total Assets?

Summit Minerals's Total Assets for the quarter that ended in Dec. 2023 was A$8.33 Mil.

During the past 12 months, Summit Minerals's average Total Assets Growth Rate was 114.30% per year.

Total Assets is connected with ROA %. Summit Minerals's annualized ROA % for the quarter that ended in Dec. 2023 was -33.12%. Total Assets is also linked to Revenue through Asset Turnover. Summit Minerals's Asset Turnover for the quarter that ended in Dec. 2023 was 0.01.

Summit Minerals Total Assets Historical Data

The historical data trend for Summit Minerals'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.

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Summit Minerals Total Assets Chart

Summit Minerals Annual Data

Trend

Jun23

Total Assets

6.10

Summit Minerals Semi-Annual Data
	Dec22	Jun23	Dec23
Total Assets	6.27	6.10	8.33

Summit Minerals Total Assets Calculation

Total Assets are all the assets a company owns.

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.

Summit Minerals's Total Assets for the fiscal year that ended in Jun. 2023 is calculated as

Total Assets	=	Total Equity (A: Jun. 2023 )	+	Total Liabilities (A: Jun. 2023 )
	=	5.747	+	0.353
	=	6.10

Summit Minerals's Total Assets for the quarter that ended in Dec. 2023 is calculated as

Total Assets	=	Total Equity (Q: Dec. 2023 )	+	Total Liabilities (Q: Dec. 2023 )
	=	8.024	+	0.309
	=	8.33

Summit Minerals (ASX:SUM) Total Assets Explanation

Total Assets is connected with ROA %.

Summit Minerals's annualized ROA % for the quarter that ended in Dec. 2023 is

ROA %	=	Net Income (Q: Dec. 2023 )	/	( (Total Assets (Q: Jun. 2023 )	+	Total Assets (Q: Dec. 2023 ))	/ count )
	=	-2.39	/	( (6.1	+	8.333)	/ 2 )
	=	-2.39	/	7.2165
	=	-33.12 %

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.

Summit Minerals's Asset Turnover for the quarter that ended in Dec. 2023 is

	Asset Turnover
=	Revenue (Q: Dec. 2023 )	/	( (Total Assets (Q: Jun. 2023 )	+	Total Assets (Q: Dec. 2023 ))	/ count )
=	0.068	/	( (6.1	+	8.333)	/ 2 )
=	0.068	/	7.2165
=	0.01

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.

Summit Minerals Total Assets Related Terms

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Summit Minerals (ASX:SUM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Summit Minerals Ltd (ASX:SUM) » Definitions » Total Assets

Comparable Companies

Traded in Other Exchanges

N/A

Address

389 Oxford Street, Level 1, Mount Hawthorn, WA, AUS, 6016

Website

https://www.summitminerals.com.au

Summit Minerals Ltd engages in acquiring, exploring, and developing battery mineral projects in Australia. It holds interest in the following projects: Stallion REE Uranium Project (WA), the Windfall Antimony Project (NSW), the Phillips River Lithium Project (WA), and the Northern REE Lithium Projects (WA), and the Bridgetown Lithium Projects (WA).