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Qorvo (NAS:QRVO) Return-on-Tangible-Asset

: -14.11% (As of Dec. 2023)
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Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Qorvo's annualized Net Income for the quarter that ended in Dec. 2023 was $-508 Mil. Qorvo's average total tangible assets for the quarter that ended in Dec. 2023 was $3,598 Mil. Therefore, Qorvo's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was -14.11%.

The historical rank and industry rank for Qorvo's Return-on-Tangible-Asset or its related term are showing as below:

QRVO' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -5.96   Med: 3.41   Max: 25.75
Current: -5.96

During the past 11 years, Qorvo's highest Return-on-Tangible-Asset was 25.75%. The lowest was -5.96%. And the median was 3.41%.

QRVO's Return-on-Tangible-Asset is ranked worse than
79.72% of 986 companies
in the Semiconductors industry
Industry Median: 2.985 vs QRVO: -5.96

Qorvo Return-on-Tangible-Asset Historical Data

The historical data trend for Qorvo's Return-on-Tangible-Asset 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.

* Premium members only.

Qorvo Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Return-on-Tangible-Asset
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.05 10.51 20.65 25.75 2.77

Qorvo Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Return-on-Tangible-Asset Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.64 -15.53 -5.12 11.21 -14.11

Competitive Comparison

For the Semiconductors subindustry, Qorvo's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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.


Qorvo Return-on-Tangible-Asset Distribution

For the Semiconductors industry and Technology sector, Qorvo's Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where Qorvo's Return-on-Tangible-Asset falls into.



Qorvo Return-on-Tangible-Asset Calculation

Qorvo's annualized Return-on-Tangible-Asset for the fiscal year that ended in Mar. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: Mar. 2023 )  (A: Mar. 2022 )(A: Mar. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: Mar. 2023 )  (A: Mar. 2022 )(A: Mar. 2023 )
=103.152/( (4058.652+3393.387)/ 2 )
=103.152/3726.0195
=2.77 %

Qorvo's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Dec. 2023 )  (Q: Sep. 2023 )(Q: Dec. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Dec. 2023 )  (Q: Sep. 2023 )(Q: Dec. 2023 )
=-507.752/( (3537.046+3658.964)/ 2 )
=-507.752/3598.005
=-14.11 %

* 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.

In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is four times the quarterly (Dec. 2023) net income data.


Qorvo  (NAS:QRVO) Return-on-Tangible-Asset Explanation

Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.


Be Aware

Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the company’s earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a company’s tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.


Qorvo Return-on-Tangible-Asset Related Terms

Thank you for viewing the detailed overview of Qorvo's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.


Qorvo (NAS:QRVO) Business Description

Industry
Traded in Other Exchanges
Address
7628 Thorndike Road, Greensboro, NC, USA, 27409-9421
Qorvo represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged in January 2015. The company specializes in radio frequency filters, power amplifiers, and front-end modules used in many of the world's most advanced smartphones. Qorvo also has a suite of products sold into a variety of nonsmartphone end markets, such as wireless base stations, cable TV and networking equipment, and infrastructure and military applications.
Executives
Steven E Creviston officer: VP and Pres. Mobile Products
Gina Harrison officer: VP and Corporate Controller 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Philip Chesley officer: Pres. Infra & Defense 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Walden C Rhines director C/O TRIQUINT SEMICONDUCTOR INC, 2300 NE BROOKWOOD PKWY, HILLSBORO OR 97124
Paul J Fego officer: VP, Global Operations 15 SECOR ROAD, PO BOX 5226, BROOKFIELD CT 06804
Frank P. Stewart officer: SVP, Advanced Cellular 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Roderick Nelson director 2300 NE BROOKWOOD PARKWAY, HILLSBORO OR 97124
Robert A Bruggeworth director, officer: President and CEO C/O RF MICRO DEVICES, INC., 7628 THORNDIKE ROAD, GREENSBORO NC 27409
John R Harding director C/O MARIMBA INC, 440 CLYDE AVENUE, MOUNTAINVIEW CA 94043
Grant Brown officer: SVP & Chief Financial Officer 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Jeffery R Gardner director ONE ALLIED DRIVE, LITTLE ROCK AR 72202
James L Klein officer: VP and Pres. Infra. & Defense 2300NE BROOKWOOD PKWY, HILLSBORO OR 97124
Susan Louise Spradley director C/O NORTEL NETWORKS, 8200 DIXIE ROAD STE 100, BRAMPTON ONTARIO A6 L6T 5PT
Walter H Wilkinson director C/O RF MICRO DEVICES, INC., 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Mark J. Murphy officer: Chief Financial Officer DELPHI AUTOMOTIVE PLC, 5725 DELPHI DRIVE, TROY MI 48098