Directv (FRA:DIG1) Asset Turnover : 0.35 (As of Mar. 2015)

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What is Directv Asset Turnover?

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Directv's Revenue for the three months ended in Mar. 2015 was €7,524 Mil. Directv's Total Assets for the quarter that ended in Mar. 2015 was €21,551 Mil. Therefore, Directv's Asset Turnover for the quarter that ended in Mar. 2015 was 0.35.

Asset Turnover is linked to ROE % through Du Pont Formula. Directv's annualized ROE % for the quarter that ended in Mar. 2015 was -63.32%. It is also linked to ROA % through Du Pont Formula. Directv's annualized ROA % for the quarter that ended in Mar. 2015 was 12.52%.

Directv Asset Turnover Historical Data

The historical data trend for Directv'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.

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Directv Asset Turnover Chart

Directv Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Asset Turnover

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1.40

1.50

1.53

1.47

Directv Quarterly Data
	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15
Asset Turnover	Get a 7-Day Free Trial															0.35	0.37	0.38	0.38	0.35

Competitive Comparison of Directv's Asset Turnover

For the Broadcasting subindustry, Directv'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.

Directv's Asset Turnover Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Directv's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Directv's Asset Turnover falls into.

Directv Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Directv's Asset Turnover for the fiscal year that ended in Dec. 2014 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (A: Dec. 2014 )	/	( (Total Assets (A: Dec. 2013 )	+	Total Assets (A: Dec. 2014 ))	/ count )
=	26973.86	/	( (15990.65	+	20647.249)	/ 2 )
=	26973.86	/	18318.9495
=	1.47

Directv's Asset Turnover for the quarter that ended in Mar. 2015 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (Q: Mar. 2015 )	/	( (Total Assets (Q: Dec. 2014 )	+	Total Assets (Q: Mar. 2015 ))	/ count )
=	7524.132	/	( (20647.249	+	22454.124)	/ 2 )
=	7524.132	/	21550.6865
=	0.35

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.

Directv (FRA:DIG1) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Directv's annulized ROE % for the quarter that ended in Mar. 2015 is

	ROE %^**		(Q: Mar. 2015 )
=	Net Income	/	Total Stockholders Equity
=	2698.08	/	-4260.7855
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(2698.08 / 30096.528)	*	(30096.528 / 21550.6865)	*	(21550.6865/ -4260.7855)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	8.96 %	*	1.3965	*	-5.0579
=	ROA %	*	Equity Multiplier
=	12.52 %	*	-5.0579
=	-63.32 %

Note: The Net Income data used here is four times the quarterly (Mar. 2015) net income data. The Revenue data used here is four times the quarterly (Mar. 2015) revenue data.

^** 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:

Directv's annulized ROA % for the quarter that ended in Mar. 2015 is

	ROA %		(Q: Mar. 2015 )
=	Net Income	/	Total Assets
=	2698.08	/	21550.6865
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(2698.08 / 30096.528)	*	(30096.528 / 21550.6865)
=	Net Margin %	*	Asset Turnover
=	8.96 %	*	1.3965
=	12.52 %

Note: The Net Income data used here is four times the quarterly (Mar. 2015) net income data. The Revenue data used here is four times the quarterly (Mar. 2015) revenue data.

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.

Directv Asset Turnover Related Terms

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Directv (FRA:DIG1) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.directv.com

Directv was incorporated in Delaware in 2009. The Company is a provider of digital television entertainment in the United States and Latin America. It operates two direct-to-home, or DTH, business units: DIRECTV U.S. and DIRECTV Latin America, which are differentiated by their geographic location and are engaged in acquiring, promoting, selling and distributing digital entertainment programming via satellite to residential and commercial subscribers. In addition, the Company owns and operate two regional sports networks, or RSNs, hold a minority ownership interest in ROOT SPORTS Northwest and own a 42% interest in Game Show Network, LLC, or GSN, a television network dedicated to game-related programming and Internet interactive game playing. The Company face substantial competition in the MVPD industry and from emerging digital media distribution providers. Its competition includes companies that offer video, audio, interactive programming, telephony, data and other entertainment services, such as cable television, other DTH companies, telcos, wireless companies and companies that are developing new technologies, including online video distributors. The Company provides services in PanAmericana and Brazil from leased transponders on two geosynchronous satellites. Sky Mexico provides its services from leased transponders on a separate satellite. In addition, itÂ leases a backup satellite that serves Sky Brasil and Sky Mexico. The Company is subject to government regulation in the United States, by the FCC and by other federal, state and local authorities. The CompanyÂ is subject to similar regulatory agencies in Latin America. It isÂ also subject to the rules and procedures of the International Telecommunication Union, or ITU, a agency of the United Nations, which coordinates telecommunications networks and services.

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