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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. Terra Nitrogen Co LP's Revenue for the three months ended in Dec. 2017 was $97.5 Mil. Terra Nitrogen Co LP's Total Assets for the quarter that ended in Dec. 2017 was $393.0 Mil. Therefore, Terra Nitrogen Co LP's Asset Turnover for the quarter that ended in Dec. 2017 was 0.25.
Asset Turnover is linked to ROE % through Du Pont Formula. Terra Nitrogen Co LP's annualized ROE % for the quarter that ended in Dec. 2017 was 54.84%. It is also linked to ROA % through Du Pont Formula. Terra Nitrogen Co LP's annualized ROA % for the quarter that ended in Dec. 2017 was 50.29%.
The historical data trend for Terra Nitrogen Co LP'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.
Terra Nitrogen Co LP Annual Data | |||||||||||||||||||||
Trend | Dec08 | Dec09 | Dec10 | Dec11 | Dec12 | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | |||||||||||
Asset Turnover | Get a 7-Day Free Trial | 2.27 | 1.69 | 1.35 | 1.02 | 1.02 |
Terra Nitrogen Co LP Quarterly Data | ||||||||||||||||||||
Mar13 | Jun13 | Sep13 | Dec13 | Mar14 | Jun14 | Sep14 | Dec14 | Mar15 | Jun15 | Sep15 | Dec15 | Mar16 | Jun16 | Sep16 | Dec16 | Mar17 | Jun17 | Sep17 | Dec17 | |
Asset Turnover | Get a 7-Day Free Trial | 0.25 | 0.32 | 0.25 | 0.22 | 0.25 |
For the Agricultural Inputs subindustry, Terra Nitrogen Co LP'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 Agriculture industry and Basic Materials sector, Terra Nitrogen Co LP's Asset Turnover distribution charts can be found below:
* The bar in red indicates where Terra Nitrogen Co LP's Asset Turnover falls into.
Asset Turnover measures how quickly a company turns over its asset through sales.
Terra Nitrogen Co LP's Asset Turnover for the fiscal year that ended in Dec. 2017 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (A: Dec. 2017 ) | / | ( (Total Assets (A: Dec. 2016 ) | + | Total Assets (A: Dec. 2017 )) | / count ) |
= | 397.2 | / | ( (373.3 | + | 403.9) | / 2 ) |
= | 397.2 | / | 388.6 | |||
= | 1.02 |
Terra Nitrogen Co LP's Asset Turnover for the quarter that ended in Dec. 2017 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (Q: Dec. 2017 ) | / | ( (Total Assets (Q: Sep. 2017 ) | + | Total Assets (Q: Dec. 2017 )) | / count ) |
= | 97.5 | / | ( (382 | + | 403.9) | / 2 ) |
= | 97.5 | / | 392.95 | |||
= | 0.25 |
* 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.
Terra Nitrogen Co LP (NYSE:TNH) Asset Turnover Explanation
Asset Turnover is linked to ROE % through Du Pont Formula.
Terra Nitrogen Co LP's annulized ROE % for the quarter that ended in Dec. 2017 is
ROE %** | (Q: Dec. 2017 ) | ||||
= | Net Income | / | Total Stockholders Equity | ||
= | 197.6 | / | 360.3 | ||
= | (Net Income / Revenue) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
= | (197.6 / 390) | * | (390 / 392.95) | * | (392.95/ 360.3) |
= | Net Margin % | * | Asset Turnover | * | Equity Multiplier |
= | 50.67 % | * | 0.9925 | * | 1.0906 |
= | ROA % | * | Equity Multiplier | ||
= | 50.29 % | * | 1.0906 | ||
= | 54.84 % |
Note: The Net Income data used here is four times the quarterly (Dec. 2017) net income data. The Revenue data used here is four times the quarterly (Dec. 2017) 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:
Terra Nitrogen Co LP's annulized ROA % for the quarter that ended in Dec. 2017 is
ROA % | (Q: Dec. 2017 ) | ||
= | Net Income | / | Total Assets |
= | 197.6 | / | 392.95 |
= | (Net Income / Revenue) | * | (Revenue / Total Assets) |
= | (197.6 / 390) | * | (390 / 392.95) |
= | Net Margin % | * | Asset Turnover |
= | 50.67 % | * | 0.9925 |
= | 50.29 % |
Note: The Net Income data used here is four times the quarterly (Dec. 2017) net income data. The Revenue data used here is four times the quarterly (Dec. 2017) 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 Terra Nitrogen Co LP's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Michael A Jackson | director | |
Anne H Lloyd | director | |
Susan L Menzel | officer: Sr. VP, Human Resources | C/O CF INDUSTRIES HOLDINGS, INC., FOUR PARKWAY NORTH, DEERFIELD IL 60015 |
Christopher D Bohn | officer: VP, Supply Chain | C/O CF INDUSTRIES HOLDINGS, INC., 4 PARKWAY NORTH, SUITE 400, DEERFIELD IL 60015 |
Adam L Hall | officer: VP, Corporate Development | C/O CF INDUSTRIES HOLDINGS, INC., 4 PARKWAY NORTH, SUITE 400, DEERFIELD IL 60015 |
Dennis P. Kelleher | director, officer: Sr Vice President and CFO | C/O CF INDUSTRIES HOLDINGS, INC, 4 PARKWAY NORTH, SUITE 400, DEERFIELD IL 60015 |
Theodore D Sands | director | CITYPLACE ONE SUITE 300, ARCH MINERAL CORP, CREVE COEUR MO 63141 |
Jablow Spertus Wendy S | officer: VP, Human Resources | C/O CF INDUSTRIES HOLDINGS, INC., 4 PARKWAY NORTH, SUITE 400, DEERFIELD IL 60015 |
Anthony J Nocchiero | director, officer: Senior Vice President and CFO | C/O CF INDUSTRIES HOLDINGS, INC., 4 PARKWAY NORTH, SUITE 400, DEERFIELD IL 60015 |
Lynn F White | officer: VP, Corporate Development | C/O CF INDUSTRIES HOLDINGS, INC., 4 PARKWAY NORTH, SUITE 400, DEERFIELD IL 60015 |
Philipp P Koch | officer: VP, Supply Chain | C/O CF INDUSTRIES, INC., ONE SALEM LAKE DRIVE, LONG GROVE IL 60047 |
Stephen R Wilson | director, officer: Chairman, President, and CEO | C/O CF INDUSTRIES, INC., ONE SALEM LAKE DRIVE, LONG GROVE IL 60047 |
Douglas C Barnard | officer: VP, GC, and Corp. Secretary | C/O CF INDUSTRIES, INC., ONE SALEM LAKE DRIVE, LONG GROVE IL 60047 |
W Anthony Will | officer: VP, Manufacturing and Dist. | C/O CF INDUSTRIES HOLDINGS, INC., 4 PARKWAY NORTH, SUITE 400, DEERFIELD IL 60015 |
Richard A Hoker | officer: VP and Corporate Controller | C/O CF INDUSTRIES HOLDINGS, INC., 4 PARKWAY NORTH, SUITE 400, DEERFIELD IL 60015 |
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