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Goodwill to Asset ratio measures how much goodwill a company is recording compared to the total level of its assets. Novo Integrated Sciences's Goodwill for the quarter that ended in May. 2024 was $7.52 Mil. Novo Integrated Sciences's Total Assets for the quarter that ended in May. 2024 was $35.33 Mil.
Therefore, Novo Integrated Sciences's Goodwill to Asset Ratio for the quarter that ended in May. 2024 was 0.21.
Novo Integrated Sciences (OTCPK:NVOS) Goodwill-to-Asset Explanation
If the goodwill-to-asset ratio increases, it can mean that the company is recording a proportionately higher amount of goodwill, assuming total assets are remaining constant. It is generally good to see a company increasing its assets regularly; however, if these increases are coming from intangible assets, such as goodwill, the increases may not be as good.
Increases in the goodwill-to-asset ratio might suggest that a company has been aggressively acquiring other firms or has seen its tangible assets decrease in value. When a large portion of total assets are attributable to intangible assets (such as goodwill), the company may be at risk of having that portion of its asset base wiped out quickly if it must record any goodwill impairments. Decreases in the goodwill-to-assets ratio suggest that the company has either written down some goodwill or increased its tangible assets.
Asset needs vary from industry to industry. This is why comparing goodwill-to-assets ratios is generally most meaningful among companies within the same industry. By comparing a company's goodwill to assets ratio to those of other companies within the same industry, investors can get a feel for how a company is managing its goodwill.
Novo Integrated Sciences Goodwill-to-Asset Related Terms
Novo Integrated Sciences Goodwill-to-Asset Historical 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.
NVOS vs BACK, NHLG, FCHS: Goodwill-to-Asset Comparison
For the Medical Care Facilities subindustry, Novo Integrated Sciences's Goodwill-to-Asset, along with its competitors' market caps and Goodwill-to-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.
Novo Integrated Sciences Goodwill-to-Asset vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Novo Integrated Sciences's Goodwill-to-Asset distribution charts can be found below:
* The bar in red indicates where Novo Integrated Sciences's Goodwill-to-Asset falls into.
* 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.
Novo Integrated Sciences (NVOS) has a Goodwill-to-Asset of 0.21 as of May. 2024. Goodwill-to-Asset Ratio is the total goodwill from acquisitions divided by total assets. View historical data on Novo Integrated Sciences and its competitors.
Is Novo Integrated Sciences' Goodwill-to-Asset too high?
Novo Integrated Sciences' current Goodwill-to-Asset is 0.21. Overall, Novo Integrated Sciences has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Novo Integrated Sciences' Goodwill-to-Asset compare to BACK and NHLG?
Novo Integrated Sciences' Goodwill-to-Asset of 0.21 can be compared against companies in the Healthcare Providers & Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Goodwill-to-Asset for a Healthcare Providers & Services company?
A good Goodwill-to-Asset depends on the Healthcare Providers & Services industry context. However, Goodwill-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Goodwill-to-Asset mean?
A high Goodwill-to-Asset can signal that a stock is expensive relative to its fundamentals. Goodwill-to-Asset Ratio is the total goodwill from acquisitions divided by total assets. View historical data on Novo Integrated Sciences and its competitors. Novo Integrated Sciences's current Goodwill-to-Asset is 0.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Novo Integrated Sciences stock overvalued right now?
Novo Integrated Sciences (NVOS) has a current Goodwill-to-Asset of 0.21. The current Goodwill-to-Asset is 0.21. Novo Integrated Sciences' overall GF Score™ is 12/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Goodwill-to-Asset calculated?
Goodwill-to-Asset is calculated from a company's financial statements. For Novo Integrated Sciences (NVOS), the current Goodwill-to-Asset is 0.21 as of May. 2024. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Novo Integrated Sciences Inc is a medical care company. It provides specialized physiotherapy, chiropractic care, occupational therapy, eldercare, laser therapeutics, massage therapy, acupuncture, neurological functions, kinesiology, and others. It has two reportable segments: healthcare services and product sales. Healthcare services generate the majority of revenue.
12GF Score
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