Acino Holding AG (FRA:S3H) Asset Turnover : 0.55 (As of Dec. 2013)

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What is Acino Holding AG Asset Turnover?

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Acino Holding AG's Revenue for the six months ended in Dec. 2013 was €262.4 Mil. Acino Holding AG's Total Assets for the quarter that ended in Dec. 2013 was €481.9 Mil. Therefore, Acino Holding AG's Asset Turnover for the quarter that ended in Dec. 2013 was 0.55.

Asset Turnover is linked to ROE % through Du Pont Formula. Acino Holding AG's annualized ROE % for the quarter that ended in Dec. 2013 was -10.51%. It is also linked to ROA % through Du Pont Formula. Acino Holding AG's annualized ROA % for the quarter that ended in Dec. 2013 was -6.02%.

Acino Holding AG Asset Turnover Historical Data

The historical data trend for Acino Holding AG'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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Acino Holding AG Asset Turnover Chart

Acino Holding AG Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Asset Turnover

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0.50

0.38

0.40

0.62

0.55

Acino Holding AG Semi-Annual Data
	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Dec13
Asset Turnover	Get a 7-Day Free Trial						0.50	0.38	0.40	0.62	0.55

Competitive Comparison of Acino Holding AG's Asset Turnover

For the Drug Manufacturers - General subindustry, Acino Holding AG'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.

Acino Holding AG's Asset Turnover Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Acino Holding AG's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Acino Holding AG's Asset Turnover falls into.

Acino Holding AG Asset Turnover Calculation

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

Acino Holding AG's Asset Turnover for the fiscal year that ended in Dec. 2013 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (A: Dec. 2013 )	/	( (Total Assets (A: Dec. 2012 )	+	Total Assets (A: Dec. 2013 ))	/ count )
=	262.442	/	( (505.815	+	458.051)	/ 2 )
=	262.442	/	481.933
=	0.54

Acino Holding AG's Asset Turnover for the quarter that ended in Dec. 2013 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (Q: Dec. 2013 )	/	( (Total Assets (Q: Dec. 2012 )	+	Total Assets (Q: Dec. 2013 ))	/ count )
=	262.442	/	( (505.815	+	458.051)	/ 2 )
=	262.442	/	481.933
=	0.54

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.

Acino Holding AG (FRA:S3H) Asset Turnover Explanation

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

Acino Holding AG's annulized ROE % for the quarter that ended in Dec. 2013 is

	ROE %^**		(Q: Dec. 2013 )
=	Net Income	/	Total Stockholders Equity
=	-29.028	/	276.2665
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(-29.028 / 524.884)	*	(524.884 / 481.933)	*	(481.933/ 276.2665)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	-5.53 %	*	1.0891	*	1.7444
=	ROA %	*	Equity Multiplier
=	-6.02 %	*	1.7444
=	-10.51 %

Note: The Net Income data used here is two times the semi-annual (Dec. 2013) net income data. The Revenue data used here is two times the semi-annual (Dec. 2013) 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:

Acino Holding AG's annulized ROA % for the quarter that ended in Dec. 2013 is

	ROA %		(Q: Dec. 2013 )
=	Net Income	/	Total Assets
=	-29.028	/	481.933
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(-29.028 / 524.884)	*	(524.884 / 481.933)
=	Net Margin %	*	Asset Turnover
=	-5.53 %	*	1.0891
=	-6.02 %

Note: The Net Income data used here is two times the semi-annual (Dec. 2013) net income data. The Revenue data used here is two times the semi-annual (Dec. 2013) 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.

Acino Holding AG Asset Turnover Related Terms

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Acino Holding AG (FRA:S3H) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Acino Holding AG (FRA:S3H) » Definitions » Asset Turnover

Traded in Other Exchanges

N/A

Address

Website

http://www.acino-pharma.com

Acino Holding AG is a Switzerland-based company engaged in the pharmaceutical industry. The Company develops, manufactures, and markets pharmaceuticals in novel drug delivery forms internationally. It is divided into four segments Business to Consumer (BtC); Business to Business (BtB); Technology marketing (TM); and Production (Prod). The BtC segment comprises all direct marketing activities. Under the company's "Acino Switzerland" brand and, with the promise of Swiss quality, the company sells its products in emerging markets around the globe. This reporting segment includes the business purchased from Mepha/Cephalon in the Middle East, Africa, Latin America and Asia. The BtB segment comprises Acino's business with its internally developed products, for which the company also owns the intellectual property rights. Acino develops and produces high-quality medicines with proven active ingredients and modern drug delivery systems and grants licenses for them to leading pharmaceutical and generic pharmaceutical companies worldwide. The technology marketing segment comprises a broad spectrum of fully integrated contract services, including procurement, contract development, production and packaging for companies in the life sciences industry. On behalf of these customers, Acino develops a comprehensive product pipeline on the basis of its special technological know-how. This includes both new types of medicines as well as projects with innovative drug delivery systems for established active ingredients. The production segment is responsible for the manufacturing of products and the supplying of the other three segments, and generates turnover through the reimbursement of its services. The manufacturing costs of products are credited to the production segment at standard prices along with remuneration in the form of a mark-up for materials and production costs.

Acino Holding AG (FRA:S3H) Headlines

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