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GuruFocus has detected 5 Warning Signs with National Grid PLC $NGG.
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National Grid PLC (NYSE:NGG)
Total Assets
$81,284 Mil (As of Mar. 2017)

National Grid PLC's total assets for the quarter that ended in Mar. 2017 was $81,284 Mil.

During the past 12 months, National Grid PLC's average Total Assets Growth Rate was 0.30% per year. During the past 3 years, the average Total Assets Growth Rate was 4.90% per year. During the past 5 years, the average Total Assets Growth Rate was 4.80% per year. During the past 10 years, the average Total Assets Growth Rate was 6.30% per year.

During the past 13 years, National Grid PLC's highest 3-Year average Total Assets Growth Rate was 72.80%. The lowest was -2.80%. And the median was 5.60%.

Total Assets is connected with Return on Assets (ROA). National Grid PLC's annualized Return on Assets (ROA) for the quarter that ended in Mar. 2017 was 21.96%. Total Assets is also linked to revenue through asset turnover. National Grid PLC's asset turnover for the quarter that ended in Mar. 2017 was 0.12.


Definition

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.

National Grid PLC's Total Assets for the fiscal year that ended in Mar. 2017 is calculated as

Total Assets=Total Current Assets+Total Long Term Assets
=Total Current Assets+(Net PPE+Intangibles+Other Long-Term Assets)
=16758.0246914+(49166.6666667+8665.43209877+2764.19753086)
=77,354

Total Assets=Total Shareholder’s Equity (A: Mar. 2017 )+Total Liabilities (A: Mar. 2017 )
=25145.6790123+56138.2716049
=81,284

National Grid PLC's Total Assets for the quarter that ended in Mar. 2017 is calculated as

Total Assets=Total Current Assets+Total Long Term Assets
=Total Current Assets+(Net PPE+Intangibles+Other Long-Term Assets)
=16758.0246914+(49166.6666667+8665.43209877+2764.19753086)
=77,354

Total Assets=Total Shareholder’s Equity (Q: Mar. 2017 )+Total Liabilities (Q: Mar. 2017 )
=25145.6790123+56138.2716049
=81,284

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Total Assets is connected with Return on Assets.

National Grid PLC's annualized Return on Assets (ROA) for the quarter that ended in Mar. 2017 is

ROA=Net Income (Q: Mar. 2017 )/( (Total Assets (Q: Sep. 2016 )+Total Assets (Q: Mar. 2017 ))/ 2 )
=18002.4691358/( (82688.5676741+81283.9506173)/ 2 )
=18002.4691358/81986.2591457
=21.96 %

Note: The Net Income data used here is two times the semi-annual (Mar. 2017) net income 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.

National Grid PLC's Asset Turnover for the quarter that ended in Mar. 2017 is

Asset Turnover
=Sales/Average Total Assets
=Revenue (Q: Mar. 2017 )/( (Total Assets (Q: Sep. 2016 )+Total Assets (Q: Mar. 2017 ))/ 2 )
=9669.13580247/( (82688.5676741+81283.9506173)/ 2 )
=9669.13580247/81986.2591457
=0.12

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Therefore, if a company grows its assets faster than its sales, the asset turnover will decline. This might be a warning sign for the business.


Related Terms

Return on Assets, Assets Turnover, Net Income, Revenue, Total Current Assets, Net PPE, Intangibles, Other Long-Term Assets, Total Shareholder’s Equity, Total Liability


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

National Grid PLC Annual Data

Mar08Mar09Mar10Mar11Mar12Mar13Mar14Mar15Mar16Mar17
Total Assets 75,64462,98465,59274,96074,89782,51187,01782,34583,95281,284

National Grid PLC Semi-Annual Data

Sep12Mar13Sep13Mar14Sep14Mar15Sep15Mar16Sep16Mar17
Total Assets 78,14882,51182,27187,01785,00082,34584,33783,95282,68981,284
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