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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Heritage Financial's Revenue for the three months ended in Dec. 2023 was $50.7 Mil. Heritage Financial's Total Assets for the quarter that ended in Dec. 2023 was $7,162.8 Mil. Therefore, Heritage Financial's Asset Turnover for the quarter that ended in Dec. 2023 was 0.01.
Asset Turnover is linked to ROE % through Du Pont Formula. Heritage Financial's annualized ROE % for the quarter that ended in Dec. 2023 was 2.99%. It is also linked to ROA % through Du Pont Formula. Heritage Financial's annualized ROA % for the quarter that ended in Dec. 2023 was 0.35%.
The historical data trend for Heritage Financial'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.
Heritage Financial Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Asset Turnover | Get a 7-Day Free Trial | 0.04 | 0.04 | 0.03 | 0.04 | 0.03 |
Heritage Financial Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Asset Turnover | Get a 7-Day Free Trial | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
For the Banks - Regional subindustry, Heritage Financial'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.
For the Banks industry and Financial Services sector, Heritage Financial's Asset Turnover distribution charts can be found below:
* The bar in red indicates where Heritage Financial's Asset Turnover falls into.
Asset Turnover measures how quickly a company turns over its asset through sales.
Heritage Financial's Asset Turnover for the fiscal year that ended in Dec. 2023 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (A: Dec. 2023 ) | / | ( (Total Assets (A: Dec. 2022 ) | + | Total Assets (A: Dec. 2023 )) | / count ) |
= | 243.818 | / | ( (6980.1 | + | 7174.957) | / 2 ) |
= | 243.818 | / | 7077.5285 | |||
= | 0.03 |
Heritage Financial's Asset Turnover for the quarter that ended in Dec. 2023 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (Q: Dec. 2023 ) | / | ( (Total Assets (Q: Sep. 2023 ) | + | Total Assets (Q: Dec. 2023 )) | / count ) |
= | 50.724 | / | ( (7150.588 | + | 7174.957) | / 2 ) |
= | 50.724 | / | 7162.7725 | |||
= | 0.01 |
* 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.
Heritage Financial (NAS:HFWA) Asset Turnover Explanation
Asset Turnover is linked to ROE % through Du Pont Formula.
Heritage Financial's annulized ROE % for the quarter that ended in Dec. 2023 is
ROE %** | (Q: Dec. 2023 ) | ||||
= | Net Income | / | Total Stockholders Equity | ||
= | 24.932 | / | 833.4035 | ||
= | (Net Income / Revenue) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
= | (24.932 / 202.896) | * | (202.896 / 7162.7725) | * | (7162.7725/ 833.4035) |
= | Net Margin % | * | Asset Turnover | * | Equity Multiplier |
= | 12.29 % | * | 0.0283 | * | 8.5946 |
= | ROA % | * | Equity Multiplier | ||
= | 0.35 % | * | 8.5946 | ||
= | 2.99 % |
Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) 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:
Heritage Financial's annulized ROA % for the quarter that ended in Dec. 2023 is
ROA % | (Q: Dec. 2023 ) | ||
= | Net Income | / | Total Assets |
= | 24.932 | / | 7162.7725 |
= | (Net Income / Revenue) | * | (Revenue / Total Assets) |
= | (24.932 / 202.896) | * | (202.896 / 7162.7725) |
= | Net Margin % | * | Asset Turnover |
= | 12.29 % | * | 0.0283 |
= | 0.35 % |
Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) 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.
Thank you for viewing the detailed overview of Heritage Financial's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Frederick B Rivera | director | 201 5TH AVE SW, OLYMPIA WA 98501 |
Brian Charneski | director | P O BOX 1578, OLYMPIA WA 98507 |
Jeffrey S Lyon | director | 2542 N VISTA VIEW DRIVE, TACOMA WA 98406 |
Matthew T. Ray | officer: EVP Chief Lending Officer | 201 5TH AVE SW, OLYMPIA WA 98501 |
Eric Kayen Chan | director | 201 5TH AVE SW, OLYMPIA WA 98501 |
Amy E. Curran | officer: EVP Director Commercial Lend | 201 5TH AVE SW, OLYMPIA WA 98501 |
Kelli Ann Wilson | officer: EVP Chief Banking Officer | 201 5TH AVE SW, OLYMPIA WA 98501 |
Cindy M Huntley | officer: SVP Director of Retail Banking | 201 5TH AVE SW, OLYMPIA WA 98507 |
Brian L Vance | director, officer: President and CEO | 2204 57TH WAY NW, OLYMPIA WA 98502 |
John A Clees | director | 4342 SUNSET BEACH DRIVE NW, OLYMPIA WA 98502 |
Tony Chalfant | officer: EVP Chief Credit Officer | 201 5TH ST SW, OLYMPIA WA 98501 |
Gail B. Giacobbe | director | 201 5TH AVE SW, OLYMPIA WA 98501 |
Trevor D. Dryer | director | 201 5TH AVE SW, OLYMPIA WA 98501 |
Gragg E Miller | director | 450 SW BAYSHORE DRIVE, OAK HARBOR WA 98277 |
Jeffrey J Deuel | officer: Executive Vice President | 201 5TH AVENUE SW, OLYMPIA WA 90501 |
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