Fortune Rise Acquisition (Fortune Rise Acquisition) Asset Turnover : 0.00 (As of Mar. 2024)

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What is Fortune Rise Acquisition Asset Turnover?

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Fortune Rise Acquisition's Revenue for the three months ended in Mar. 2024 was $0.00 Mil. Fortune Rise Acquisition's Total Assets for the quarter that ended in Mar. 2024 was $35.12 Mil. Therefore, Fortune Rise Acquisition's Asset Turnover for the quarter that ended in Mar. 2024 was 0.00.

Asset Turnover is linked to ROE % through Du Pont Formula. Fortune Rise Acquisition's annualized ROE % for the quarter that ended in Mar. 2024 was -7.63%. It is also linked to ROA % through Du Pont Formula. Fortune Rise Acquisition's annualized ROA % for the quarter that ended in Mar. 2024 was -5.55%.

Fortune Rise Acquisition Asset Turnover Historical Data

The historical data trend for Fortune Rise Acquisition'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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Fortune Rise Acquisition Asset Turnover Chart

Fortune Rise Acquisition Annual Data

Trend

Dec21

Dec22

Dec23

Asset Turnover

Fortune Rise Acquisition Quarterly Data
	Feb21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Asset Turnover	Get a 7-Day Free Trial								-	-	-	-	-

Competitive Comparison of Fortune Rise Acquisition's Asset Turnover

For the Shell Companies subindustry, Fortune Rise Acquisition'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.

Fortune Rise Acquisition's Asset Turnover Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Fortune Rise Acquisition's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Fortune Rise Acquisition's Asset Turnover falls into.

Fortune Rise Acquisition Asset Turnover Calculation

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

Fortune Rise Acquisition's Asset Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (A: Dec. 2023 )	/	( (Total Assets (A: Dec. 2022 )	+	Total Assets (A: Dec. 2023 ))	/ count )
=	0	/	( (102.144	+	34.971)	/ 2 )
=	0	/	68.5575
=	0.00

Fortune Rise Acquisition's Asset Turnover for the quarter that ended in Mar. 2024 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (Q: Mar. 2024 )	/	( (Total Assets (Q: Dec. 2023 )	+	Total Assets (Q: Mar. 2024 ))	/ count )
=	0	/	( (34.971	+	35.273)	/ 2 )
=	0	/	35.122
=	0.00

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.

Fortune Rise Acquisition (NAS:FRLA) Asset Turnover Explanation

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

Fortune Rise Acquisition's annulized ROE % for the quarter that ended in Mar. 2024 is

	ROE %^**		(Q: Mar. 2024 )
=	Net Income	/	Total Stockholders Equity
=	-1.948	/	25.5425
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(-1.948 / 0)	*	(0 / 35.122)	*	(35.122/ 25.5425)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	%	*	0	*	1.375
=	ROA %	*	Equity Multiplier
=	-5.55 %	*	1.375
=	-7.63 %

Note: The Net Income data used here is four times the quarterly (Mar. 2024) net income data. The Revenue data used here is four times the quarterly (Mar. 2024) 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:

Fortune Rise Acquisition's annulized ROA % for the quarter that ended in Mar. 2024 is

	ROA %		(Q: Mar. 2024 )
=	Net Income	/	Total Assets
=	-1.948	/	35.122
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(-1.948 / 0)	*	(0 / 35.122)
=	Net Margin %	*	Asset Turnover
=	%	*	0
=	-5.55 %

Note: The Net Income data used here is four times the quarterly (Mar. 2024) net income data. The Revenue data used here is four times the quarterly (Mar. 2024) 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.

Fortune Rise Acquisition Asset Turnover Related Terms

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Fortune Rise Acquisition (Fortune Rise Acquisition) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » Fortune Rise Acquisition Corp (NAS:FRLA) » Definitions » Asset Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

13575 58th Street North, Suite 200, Clearwater, FL, USA, 33760

Website

Fortune Rise Acquisition Corp is a blank check company.

Executives

Ronald Jay Pollack	director	1862 MCCAULEY RD, CLEARWATER FL 33765
Ryan Spick	director	18034 N 134TH AVE, SUN CITY WEST AZ 85375
Philip Goodman	director	6 OAKWOOD DRIVE, SEWALL'S POINT FL 34996
Saba Capital Management, L.p.	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Boaz Weinstein	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
J Richard Iler	officer: PEO and CFO	815 WALKER STREET, STE. 1155, HOUSTON TX 77002
Payam Eshraghian	director	20601 TROON LANE, HUNTINGTON BEACH CA 92646
Michael Davidov	director	60 EAST 42 STREET, NEW YORK NY 10165
David Xianglin Li	director	3 STONER AVE, GREAT NECK NY 11021
Lei Huang	director, officer: Chief Executive Officer	3 STONER AVE, GREAT NECK NY 10021
Norman C Kristoff	director	C/O JAMES M. RAE, ESQ., 330 MADISON AVEUNE, 29TH FLOOR, NEW YORK NY 10017
Yuanmei Ma	officer: Chief Financial Officer	ROOM 605A TOWER A, RAYCOM INFO TECH PARK, NO. 2 KEXUEYUAN S. RD., ZHONGGUANCUN, HAIDIAN DISTRICT, BEIJING F4 100080
Lei Xu	director, officer: President and Chairwoman	1818 LINDA VISTA CIR., FULLERTON CA 92831
Fortune Rise Sponsor Llc	10 percent owner	48 BRIDGE STREET, BUILDING A, METUCHEN NJ 08840
Koon Keung Chan	10 percent owner	48 BRIDGE STREET, BUILDING A, METUCHEN NJ 08840