Market Cap : 2.42 T | Enterprise Value : 2.48 T | PE Ratio : 24.23 | PB Ratio : 35.89 |
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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. Apple's Revenue for the three months ended in Mar. 2022 was $97,278 Mil. Apple's Total Assets for the quarter that ended in Mar. 2022 was $365,927 Mil. Therefore, Apple's Asset Turnover for the quarter that ended in Mar. 2022 was 0.27.
Asset Turnover is linked to ROE % through Du Pont Formula. Apple's annualized ROE % for the quarter that ended in Mar. 2022 was 143.60%. It is also linked to ROA % through Du Pont Formula. Apple's annualized ROA % for the quarter that ended in Mar. 2022 was 27.34%.
The historical data trend for Apple'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.
Asset Turnover measures how quickly a company turns over its asset through sales.
Apple's Asset Turnover for the fiscal year that ended in Sep. 2021 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (A: Sep. 2021 ) | / | ( (Total Assets (A: Sep. 2020 ) | + | Total Assets (A: Sep. 2021 )) | / count ) |
= | 365817 | / | ( (323888 | + | 351002) | / 2 ) |
= | 365817 | / | 337445 | |||
= | 1.08 |
Apple's Asset Turnover for the quarter that ended in Mar. 2022 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (Q: Mar. 2022 ) | / | ( (Total Assets (Q: Dec. 2021 ) | + | Total Assets (Q: Mar. 2022 )) | / count ) |
= | 97278 | / | ( (381191 | + | 350662) | / 2 ) |
= | 97278 | / | 365926.5 | |||
= | 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.
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.
Asset Turnover is linked to ROE % through Du Pont Formula.
Apple's annulized ROE % for the quarter that ended in Mar. 2022 is
ROE %** | (Q: Mar. 2022 ) | ||||
= | Net Income | / | Total Stockholders Equity | ||
= | 100040 | / | 69665.5 | ||
= | (Net Income / Revenue) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
= | (100040 / 389112) | * | (389112 / 365926.5) | * | (365926.5/ 69665.5) |
= | Net Margin % | * | Asset Turnover | * | Equity Multiplier |
= | 25.71 % | * | 1.0634 | * | 5.2526 |
= | ROA % | * | Equity Multiplier | ||
= | 27.34 % | * | 5.2526 | ||
= | 143.60 % |
Note: The Net Income data used here is four times the quarterly (Mar. 2022) net income data. The Revenue data used here is four times the quarterly (Mar. 2022) 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:
Apple's annulized ROA % for the quarter that ended in Mar. 2022 is
ROA % | (Q: Mar. 2022 ) | ||
= | Net Income | / | Total Assets |
= | 100040 | / | 365926.5 |
= | (Net Income / Revenue) | * | (Revenue / Total Assets) |
= | (100040 / 389112) | * | (389112 / 365926.5) |
= | Net Margin % | * | Asset Turnover |
= | 25.71 % | * | 1.0634 |
= | 27.34 % |
Note: The Net Income data used here is four times the quarterly (Mar. 2022) net income data. The Revenue data used here is four times the quarterly (Mar. 2022) 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.
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 Apple's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Kondo Chris | officer: Principal Accounting Officer | 1 INFINITE LOOP CUPERTINO CA 95014 |
Maestri Luca | officer: Senior Vice President, CFO | 1 INFINITE LOOP CUPERTINO CA 95014 |
Adams Katherine L. | officer: SVP, GC and Secretary | APPLE INC. 1 INFINITE LOOP CUPERTINO CA 95014 |
Williams Jeffrey E | officer: COO | ONE INFINITE LOOP CUPERTINO CA 95014 |
Cook Timothy D | director, officer: Chief Executive Officer | C/O APPLE INC ONE INFINITE LOOP CUPERTINO CA 95014 |
Jung Andrea | director | C/O APPLE INC ONE APPLE PARK WAY CUPERTINO CA 95014 |
Wagner Susan | director | C/O BLACKROCK, INC. 40 EAST 52ND STREET NEW YORK NY 10022 |
Bell James A | director | C/O THE DOW CHEMICAL COMPANY 2211 H.H. DOW WAY MIDLAND MI 48674 |
Levinson Arthur D | director | C/O GENENTECH INC 1 DNA WAY MS 49 SOUTH SAN FRANCISCO CA 94080-4990 |
Sugar Ronald D | director | 10877 WILSHIRE BLVD. SUITE 1650 LOS ANGELES CA 900274 |
Gore Albert Jr | director | C/O APPLE INC 1 INFINITE LOOP CUPERTINO CA 95014 |
Iger Robert A | director | C/O WALT DISNEY CO 500 S BUENA VISTA STREET BURBANK CA 91521-1062 |
Ahrendts Angela J | officer: Senior Vice President | 1 INFINITE LOOP CUPERTINO CA 95014 |
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