What is Electrameccanica Vehicles Return-on-Tangible-Asset?
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. Electrameccanica Vehicles's annualizedNet Income for the quarter that ended in Dec. 2023 was $-54.42 Mil. Electrameccanica Vehicles's average total tangible assets for the quarter that ended in Dec. 2023 was $100.54 Mil. Therefore, Electrameccanica Vehicles's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was -54.13%.
The historical rank and industry rank for Electrameccanica Vehicles's Return-on-Tangible-Asset or its related term are showing as below:
SOLO'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -466.23 Med: -75.42 Max: -19.43
Current: -42.99
During the past 9 years, Electrameccanica Vehicles's highest Return-on-Tangible-Asset was -19.43%. The lowest was -466.23%. And the median was -75.42%.
SOLO's Return-on-Tangible-Asset is not ranked
in the Vehicles & Parts industry.
Industry Median: 3.63
vs SOLO: -42.99
Electrameccanica Vehicles Return-on-Tangible-Asset Historical Data
The historical data trend for Electrameccanica Vehicles'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.
Competitive Comparison of Electrameccanica Vehicles's Return-on-Tangible-Asset
For the Auto Manufacturers subindustry, Electrameccanica Vehicles'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.
Electrameccanica Vehicles's Return-on-Tangible-Asset Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Electrameccanica Vehicles's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Electrameccanica Vehicles's Return-on-Tangible-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.
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.
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 companys 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 companys 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.
Electrameccanica Vehicles Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Electrameccanica Vehicles's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Electrameccanica Vehicles (Electrameccanica Vehicles) Business Description
Electrameccanica Vehicles Corp Ltd is a development-stage electric vehicle or EV, designer and manufacturer company. The company's product line targets urban commuters, commercial fleets/deliveries and shared mobility seeking to commute in an efficient, cost-effective and environmentally friendly manner. The company's first flagship EV is the SOLO, a single-seat vehicle, of which it has built 64 prototype vehicles in-house and 60 pre-production vehicles with its manufacturing partner, Zongshen. The company's reportable business segments include Electric Vehicles which is the development and manufacture of electric vehicles for mass markets, and Custom built vehicles which is the development and manufacture of high-end custom-built vehicles.
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