Summit Networks (Summit Networks) Total Assets : $0.16 Mil (As of Mar. 2024)

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What is Summit Networks Total Assets?

Summit Networks's Total Assets for the quarter that ended in Mar. 2024 was $0.16 Mil.

During the past 12 months, Summit Networks's average Total Assets Growth Rate was 100.00% per year. During the past 3 years, the average Total Assets Growth Rate was 40.90% per year.

During the past 10 years, Summit Networks's highest 3-Year average Total Assets Growth Rate was 40.90%. The lowest was -41.50%. And the median was -5.90%.

Total Assets is connected with ROA %. Summit Networks's annualized ROA % for the quarter that ended in Mar. 2024 was -179.71%. Total Assets is also linked to Revenue through Asset Turnover. Summit Networks's Asset Turnover for the quarter that ended in Mar. 2024 was 0.00.

Summit Networks Total Assets Historical Data

The historical data trend for Summit Networks'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.

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Summit Networks Total Assets Chart

Summit Networks Annual Data

Trend

Jul14

Jul15

Jul16

Jul17

Jul18

Jul19

Jul20

Sep21

Sep22

Sep23

Total Assets

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0.31

0.08

0.01

0.16

Summit Networks Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Total Assets	Get a 7-Day Free Trial															0.16	0.11	0.16	0.12	0.16

Summit Networks 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.

Summit Networks's Total Assets for the fiscal year that ended in Sep. 2023 is calculated as

Total Assets	=	Total Equity (A: Sep. 2023 )	+	Total Liabilities (A: Sep. 2023 )
	=	-0.538	+	0.703
	=	0.17

Summit Networks's Total Assets for the quarter that ended in Mar. 2024 is calculated as

Total Assets	=	Total Equity (Q: Mar. 2024 )	+	Total Liabilities (Q: Mar. 2024 )
	=	-0.452	+	0.611
	=	0.16

Summit Networks (OTCPK:SNTW) Total Assets Explanation

Total Assets is connected with ROA %.

Summit Networks's annualized ROA % for the quarter that ended in Mar. 2024 is

ROA %	=	Net Income (Q: Mar. 2024 )	/	( (Total Assets (Q: Dec. 2023 )	+	Total Assets (Q: Mar. 2024 ))	/ count )
	=	-0.248	/	( (0.117	+	0.159)	/ 2 )
	=	-0.248	/	0.138
	=	-179.71 %

Note: The Net Income data used here is four times the quarterly (Mar. 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.

Summit Networks's Asset Turnover for the quarter that ended in Mar. 2024 is

	Asset Turnover
=	Revenue (Q: Mar. 2024 )	/	( (Total Assets (Q: Dec. 2023 )	+	Total Assets (Q: Mar. 2024 ))	/ count )
=	0	/	( (0.117	+	0.159)	/ 2 )
=	0	/	0.138
=	0.00

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.

Summit Networks Total Assets Related Terms

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Summit Networks (Summit Networks) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Summit Networks Inc (OTCPK:SNTW) » Definitions » Total Assets

Comparable Companies

Traded in Other Exchanges

N/A

Address

3010-8888 Odlin Cresent, Richmond, BC, CAN, V6X 3Z8

Website

https://www.sumnets.com

Summit Networks Inc was engaged in the development and operation of a business engaged in the distribution of glass craft products produced in China. It is looking for new business opportunities. Currently, The company is in the early stage of development of Its new business plan which involves acting as an international agent through Their wholly-owned subsidiaries, Smith Barney, Green Energy, and Beijing ALW.

Executives

Chi Ming Tso	10 percent owner	3A, KINGSWELL COMMERCIAL TOWER,, 171-173 LOCKHART RD., WANCHAI, HONG KONG K3 HKG
Keun Harry Cheung	10 percent owner	ROOM 1006, 10/F TIAN GARDEN, LIN HE EAST, GUANGDONG F4 00000
Hang Dennis Cheung	10 percent owner	FLAT H, 5/F, BLOCK 2, WHAMPOA GARDEN, BAUHINIA MANSIONS, KOWLOON K3 00000
Yee Man Cheung	10 percent owner	RM 1709, NORTH TOWER, ZHONGZHOU CENTRE, 1068 EAST XINGANG AVENUE,HAIZHU DISTRICT, GUANGDONG PROVINCE F4 00000
Qiuli Chen	director	1709 NORTH TOWER ZHONGZHOU CENTRE, 1068 EAST ROAD HAIZU DISTRICT, GUANGZHOU, GUANGDONG F4 00000
Riggs Cheung	director, officer: President	41 BOBOLINK LANE, LEVITTOWN NY 11756

Summit Networks (Summit Networks) Headlines

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