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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Taiwan Fund's Revenue for the six months ended in Feb. 2024 was $64.9 Mil. Taiwan Fund's Total Assets for the quarter that ended in Feb. 2024 was $324.0 Mil. Therefore, Taiwan Fund's Asset Turnover for the quarter that ended in Feb. 2024 was 0.20.
Asset Turnover is linked to ROE % through Du Pont Formula. Taiwan Fund's annualized ROE % for the quarter that ended in Feb. 2024 was 39.88%. It is also linked to ROA % through Du Pont Formula. Taiwan Fund's annualized ROA % for the quarter that ended in Feb. 2024 was 39.57%.
The historical data trend for Taiwan Fund's Asset Turnover 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.
Taiwan Fund Annual Data | ||||||||||||||||
Trend | Aug17 | Aug18 | Aug19 | Aug20 | Aug21 | Aug22 | Aug23 | |||||||||
Asset Turnover | Get a 7-Day Free Trial | -0.02 | 0.39 | 0.48 | -0.26 | 0.29 |
Taiwan Fund Semi-Annual Data | ||||||||||||||
Aug17 | Feb18 | Aug18 | Feb19 | Aug19 | Feb20 | Aug20 | Feb21 | Aug21 | Feb22 | Aug22 | Feb23 | Aug23 | Feb24 | |
Asset Turnover | Get a 7-Day Free Trial | 0.01 | -0.29 | 0.08 | 0.21 | 0.20 |
For the Asset Management subindustry, Taiwan Fund's Asset Turnover, along with its competitors' market caps and Asset Turnover 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.
For the Asset Management industry and Financial Services sector, Taiwan Fund's Asset Turnover distribution charts can be found below:
* The bar in red indicates where Taiwan Fund's Asset Turnover falls into.
Asset Turnover measures how quickly a company turns over its asset through sales.
Taiwan Fund's Asset Turnover for the fiscal year that ended in Aug. 2023 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (A: Aug. 2023 ) | / | ( (Total Assets (A: Aug. 2022 ) | + | Total Assets (A: Aug. 2023 )) | / count ) |
= | 75.086 | / | ( (225.278 | + | 298.813) | / 2 ) |
= | 75.086 | / | 262.0455 | |||
= | 0.29 |
Taiwan Fund's Asset Turnover for the quarter that ended in Feb. 2024 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (Q: Feb. 2024 ) | / | ( (Total Assets (Q: Aug. 2023 ) | + | Total Assets (Q: Feb. 2024 )) | / count ) |
= | 64.895 | / | ( (298.813 | + | 349.15) | / 2 ) |
= | 64.895 | / | 323.9815 | |||
= | 0.20 |
* 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.
Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.
Taiwan Fund (NYSE:TWN) Asset Turnover Explanation
Asset Turnover is linked to ROE % through Du Pont Formula.
Taiwan Fund's annulized ROE % for the quarter that ended in Feb. 2024 is
ROE %** | (Q: Feb. 2024 ) | ||||
= | Net Income | / | Total Stockholders Equity | ||
= | 128.188 | / | 321.466 | ||
= | (Net Income / Revenue) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
= | (128.188 / 129.79) | * | (129.79 / 323.9815) | * | (323.9815/ 321.466) |
= | Net Margin % | * | Asset Turnover | * | Equity Multiplier |
= | 98.77 % | * | 0.4006 | * | 1.0078 |
= | ROA % | * | Equity Multiplier | ||
= | 39.57 % | * | 1.0078 | ||
= | 39.88 % |
Note: The Net Income data used here is two times the semi-annual (Feb. 2024) net income data. The Revenue data used here is two times the semi-annual (Feb. 2024) revenue 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.
** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.
It is also linked to ROA % through Du Pont Formula:
Taiwan Fund's annulized ROA % for the quarter that ended in Feb. 2024 is
ROA % | (Q: Feb. 2024 ) | ||
= | Net Income | / | Total Assets |
= | 128.188 | / | 323.9815 |
= | (Net Income / Revenue) | * | (Revenue / Total Assets) |
= | (128.188 / 129.79) | * | (129.79 / 323.9815) |
= | Net Margin % | * | Asset Turnover |
= | 98.77 % | * | 0.4006 |
= | 39.57 % |
Note: The Net Income data used here is two times the semi-annual (Feb. 2024) net income data. The Revenue data used here is two times the semi-annual (Feb. 2024) revenue 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.
Be Aware
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.
Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.
Thank you for viewing the detailed overview of Taiwan Fund's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Anthony Clark | director | C/O ABERDEEN STANDARD INVESTMENTS, 1900 MARKET STREET, SUITE 200, PHILADELPHIA PA 19103 |
Maria R. Premole | officer: Vice President | C/O JAPAN SMALLER CAPITALIZATION FUND, WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019 |
Yuichi Nomoto | officer: President | WORLDWIDE PLAZA, 309 WEST 49TH STREET, NEW YORK NY 10019-7316 |
Warren Olsen | director | C/O AETOS ALTERNATIVES MANAGEMENT, LP, 875 THIRD AVENUE, 6TH FLOOR, NEW YORK NY 10022 |
Aiden Redmond | officer: President | 1633 BROADWAY, NEW YORK NY 10019 |
William Kirby | director | 22 CONCORD AVE., LEXINGTON MA 02421 |
Thomas Gregory Kamp | director | 5821 SOUTHWOOD DRIVE, MINNEAPOLIS MN 55437 |
John Viggiano | other: Affiliated Person | 1633 BROADWAY, NEW YORK NY 10019 |
Gem Pushpaharan | other: Affiliated Person | 1633 BROADWAY, NEW YORK NY 10019 |
Peter Bonanno | other: Affiliated Person | 1633 BROADWAY, NEW YORK NY 10019 |
Douglas Eu | other: Affiliated Person | C/O ALLIANZ GLOBAL INVESTORS U.S. LLC, 1633 BROADWAY, NEW YORK NY 10019 |
Thomas J Fuccillo | officer: President | 1633 BROADWAY, NEW YORK NY 10019 |
Xiao Corrina | other: Portfolio Manager | 5F, NO. 378, FUXING N ROAD, TAIPEI F5 10476 |
Allianz Global Investors U.s. Holdings Llc | other: Affiliated Entity | 1633 BROADWAY, NEW YORK NY 10019 |
City Of London Investment Group Plc | 10 percent owner | 77 GRACECHURCH STREET, LONDON X0 EC3V0AS |
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