Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Azure Power Global's Revenue for the
six
months ended in Mar. 2024 was $256.6 Mil. Azure Power Global's Total Assets for the quarter that ended in Mar. 2024 was $2,241.7 Mil. Therefore, Azure Power Global's Asset Turnover for the quarter that ended in Mar. 2024 was 0.11.
Asset Turnover is linked to ROE % through Du Pont Formula. Azure Power Global's annualizedROE % for the quarter that ended in Mar. 2024 was -19.84%. It is also linked to ROA % through Du Pont Formula. Azure Power Global's annualizedROA % for the quarter that ended in Mar. 2024 was -3.59%.
Azure Power Global (OTCPK:AZREF) Asset Turnover Explanation
Asset Turnover is linked to ROE % through Du Pont Formula.
Azure Power Global's annulizedROE % for the quarter that ended in Mar. 2024 is
Note:
The Net Income data used here is two times the semi-annual (Mar. 2024) net income data. The Revenue data used here is two times the semi-annual (Mar. 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:
Azure Power Global's annulizedROA % for the quarter that ended in Mar. 2024 is
Note:
The Net Income data used here is two times the semi-annual (Mar. 2024) net income data. The Revenue data used here is two times the semi-annual (Mar. 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.
Azure Power Global Asset Turnover Related Terms
Azure Power Global Asset Turnover Historical Data
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The historical data trend for Azure Power Global'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.
AZREF vs SAFX, VGAS, STEM: Asset Turnover Comparison
For the Utilities - Renewable subindustry, Azure Power Global'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.
Azure Power Global Asset Turnover vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Azure Power Global's Asset Turnover distribution charts can be found below:
* The bar in red indicates where Azure Power Global's Asset Turnover falls into.
* 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.
Azure Power Global (AZREF) has a Asset Turnover of 0.11 as of Mar. 2024. Asset turnover equals current-period sales over average total assets over the past two periods. View historical data on Azure Power Global and its competitors.
Is Azure Power Global's Asset Turnover too high?
Azure Power Global's current Asset Turnover is 0.11. Overall, Azure Power Global has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Azure Power Global's Asset Turnover compare to SAFX and VGAS?
Azure Power Global's Asset Turnover of 0.11 can be compared against companies in the Utilities - Independent Power Producers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Asset Turnover for an Utilities - Independent Power Producers company?
A good Asset Turnover depends on the Utilities - Independent Power Producers industry context. However, Asset Turnover should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Asset Turnover mean?
A high Asset Turnover can signal that a stock is expensive relative to its fundamentals. Asset turnover equals current-period sales over average total assets over the past two periods. View historical data on Azure Power Global and its competitors. Azure Power Global's current Asset Turnover is 0.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Azure Power Global stock overvalued right now?
Azure Power Global (AZREF) has a current Asset Turnover of 0.11. The current Asset Turnover is 0.11. Azure Power Global's overall GF Score™ is 12/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Asset Turnover calculated?
Asset Turnover is calculated from a company's financial statements. For Azure Power Global (AZREF), the current Asset Turnover is 0.11 as of Mar. 2024. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Azure Power Global Ltd is a utility-scale renewable energy project developer and operator. It is engaged in the development, construction, ownership, operation, maintenance, and management of renewable energy assets based on long-term contracts (Power Purchase Agreements or PPA) with Indian Government energy distribution companies, as well as other Indian non-governmental energy distribution companies and commercial customers.
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