GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Formation Minerals Inc (OTCPK:FOMI) » Definitions » Total Assets

FOMI (Formation Minerals) Total Assets : $0.33 Mil (As of Oct. 2024)


View and export this data going back to 2022. Start your Free Trial

What is Formation Minerals Total Assets?

Formation Minerals's Total Assets for the quarter that ended in Oct. 2024 was $0.33 Mil.

During the past 12 months, Formation Minerals's average Total Assets Growth Rate was 2566.70% per year. During the past 3 years, the average Total Assets Growth Rate was -70.60% per year.

During the past 4 years, Formation Minerals's highest 3-Year average Total Assets Growth Rate was -70.60%. The lowest was -70.60%. And the median was -70.60%.

Total Assets is connected with ROA %. Formation Minerals's annualized ROA % for the quarter that ended in Oct. 2024 was -1,242.14%. Total Assets is also linked to Revenue through Asset Turnover. Formation Minerals's Asset Turnover for the quarter that ended in Oct. 2024 was 0.27.

Formation Minerals Total Assets Historical Data

The historical data trend for Formation Minerals's Total Assets 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.

Formation Minerals Total Assets Chart

Formation Minerals Annual Data
Trend Apr21 Apr22 Apr23 Apr24
Total Assets
0.74 0.44 0.04 0.02

Formation Minerals Quarterly Data
Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24
Total Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.02 - 0.02 0.33 0.33

Formation Minerals Total Assets Calculation

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.

Formation Minerals's Total Assets for the fiscal year that ended in Apr. 2024 is calculated as

Total Assets=Total Equity (A: Apr. 2024 )+Total Liabilities (A: Apr. 2024 )
=-0.834+0.848
=0.01

Formation Minerals's Total Assets for the quarter that ended in Oct. 2024 is calculated as

Total Assets=Total Equity (Q: Oct. 2024 )+Total Liabilities (Q: Oct. 2024 )
=-2.923+3.252
=0.33

* 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.

Formation Minerals  (OTCPK:FOMI) Total Assets Explanation

Total Assets is connected with ROA %.

Formation Minerals's annualized ROA % for the quarter that ended in Oct. 2024 is

ROA %=Net Income (Q: Oct. 2024 )/( (Total Assets (Q: Jul. 2024 )+Total Assets (Q: Oct. 2024 ))/ count )
=-4.068/( (0.325+0.33)/ 2 )
=-4.068/0.3275
=-1,242.14 %

Note: The Net Income data used here is four times the quarterly (Oct. 2024) 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.

Formation Minerals's Asset Turnover for the quarter that ended in Oct. 2024 is

Asset Turnover
=Revenue (Q: Oct. 2024 )/( (Total Assets (Q: Jul. 2024 )+Total Assets (Q: Oct. 2024 ))/ count )
=0.087/( (0.325+0.33)/ 2 )
=0.087/0.3275
=0.27

* 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.

Therefore, if a company grows its Total Assets faster than its Revenue, the Asset Turnover will decline. This might be a warning sign for the business.

Formation Minerals Total Assets Related Terms

Thank you for viewing the detailed overview of Formation Minerals's Total Assets provided by GuruFocus.com. Please click on the following links to see related term pages.

Formation Minerals Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Formation Minerals Inc (OTCPK:FOMI) » Definitions » Total Assets
Comparable Companies
SDXEF ROYL ALTX CCWF OKMN FECOF GULTU PTCO NRIS MMEX COP HKSE:00883 EOG TSX:CNQ HES OXY FANG MIC:NVTK EQT TPL
Traded in Other Exchanges
N/A
Address
P.O. Box 67, Jacksboro, TX, USA, 76458
Website
https://www.formationminerals.com
Formation Minerals Inc is engaged in the acquisition and management of high-growth oil and gas minerals and royalties in the U.S. basins. The company is focused on providing returns through asset growth generated by acquisitions and organic growth of properties. Its portfolio includes the DJ Basin of Colorado and Wyoming, the Haynesville Shale of Louisiana, the Delaware and Permian Basin of Texas, the Marcellus and Utica shales in West Virginia, and the Anadarko Basin in Oklahoma.
Executives
Erik Savenstrand director 505 PARK AVENUE, 4TH FLOOR, NEW YORK NY 10022
John Damien Trainor director, 10 percent owner, officer: Chief Executive Officer 505 PARK AVENUE, 4TH FLOOR, NEW YORK NY 10022