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. Asia Cork's annualizedNet Income for the quarter that ended in Dec. 2010 was €3.53 Mil. Asia Cork's average total tangible assets for the quarter that ended in Dec. 2010 was €21.45 Mil. Therefore, Asia Cork's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2010 was 16.44%.
The historical rank and industry rank for Asia Cork's Return-on-Tangible-Asset or its related term are showing as below:
STU:6A3's Return-on-Tangible-Asset is not ranked *
in the Furnishings, Fixtures & Appliances industry.
Industry Median: 3.31 * Ranked among companies with meaningful Return-on-Tangible-Asset only.
Asia Cork Return-on-Tangible-Asset Historical Data
The historical data trend for Asia Cork'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 Asia Cork's Return-on-Tangible-Asset
For the Furnishings, Fixtures & Appliances subindustry, Asia Cork'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.
Asia Cork's Return-on-Tangible-Asset Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Asia Cork's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Asia Cork's Return-on-Tangible-Asset falls into.
Asia Cork Return-on-Tangible-Asset Calculation
Asia Cork's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2010 is calculated as:
* 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 one times the annual (Dec. 2010) net income data.
Asia Cork (STU:6A3) 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 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.
Asia Cork Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of Asia Cork's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
Asia Cork Incorporated formerly known as Hankersen International Corp., was incorporated under the laws of the State of Delaware on August 1, 1996. On July 11, 2008, the Company's wholly owned subsidiary, Asia Cork Inc., was merged into its parent, the Company, in order to change the name of the Company, after approval by the Board of Directors of the Company according to the Delaware General Corporation Law. As permitted by Delaware General Corporation Law, the Company assumed the name of its wholly owned subsidiary following the merger and now operates under the name Asia Cork Inc. The Company through its subsidiaries is engaged in the development, manufacture and distribution of cork products including cork wood floor, wall and decorating materials. It produces approximately seven series of cork flooring planks with over approximately 50 different patterns, colors and granules. It produces approximately 16 types of cork wallboard and approximately three types of cork art crafts with different patterns. It products include Cork Granule, Cork Sheet and Roll, Glue-down Floor, Floating Floor, Cork Wallboard and Basic Board. All these products utilize staining technology to create different colors. Its cork art crafts include ornaments and decorations. Wallboard could also be used as decorative material. It also sells semi-finished cork products to other manufacturers which use cork granule and sheet roll as raw materials. Cork granule comes in varies sizes and is the early stage of cork material processing. It sells its products directly to customers in China through its own sales team, and it distributes its products to customers overseas through unrelated distributors and sales agents. The countries in which its products were distributed through these sales agents include India, the United States of America, Germany and Japan. The Company competes with Portugal cork manufacturers as its major product is cork stopper used for wine bottles, which usually accounts for one third of its total sales and even higher percentage of profit. Domestically, the Company competes with local mid-sized cork manufacturers. These companies' products are semi-finished cork boards, sheets and roles.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
STU:6A3 has been successfully added to your