Fortune Minerals (Fortune Minerals) Asset Turnover : 0.00 (As of Dec. 2023)

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What is Fortune Minerals 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 Minerals's Revenue for the three months ended in Dec. 2023 was $0.00 Mil. Fortune Minerals's Total Assets for the quarter that ended in Dec. 2023 was $17.87 Mil. Therefore, Fortune Minerals's Asset Turnover for the quarter that ended in Dec. 2023 was 0.00.

Asset Turnover is linked to ROE % through Du Pont Formula. Fortune Minerals's annualized ROE % for the quarter that ended in Dec. 2023 was -23.13%. It is also linked to ROA % through Du Pont Formula. Fortune Minerals's annualized ROA % for the quarter that ended in Dec. 2023 was -13.68%.

Fortune Minerals Asset Turnover Historical Data

The historical data trend for Fortune Minerals'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 Minerals Asset Turnover Chart

Fortune Minerals Annual Data

Trend

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Asset Turnover

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Fortune Minerals Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
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Competitive Comparison of Fortune Minerals's Asset Turnover

For the Other Industrial Metals & Mining subindustry, Fortune Minerals'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 Minerals's Asset Turnover Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Fortune Minerals's Asset Turnover distribution charts can be found below:

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

Fortune Minerals Asset Turnover Calculation

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

Fortune Minerals'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	/	( (0.661	+	1.164)	/ 2 )
=	0	/	0.9125
=	0.00

Fortune Minerals's Asset Turnover for the quarter that ended in Dec. 2023 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (Q: Dec. 2023 )	/	( (Total Assets (Q: Sep. 2023 )	+	Total Assets (Q: Dec. 2023 ))	/ count )
=	0	/	( (34.569	+	1.164)	/ 2 )
=	0	/	17.8665
=	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 Minerals (OTCPK:FTMDF) Asset Turnover Explanation

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

Fortune Minerals's annulized ROE % for the quarter that ended in Dec. 2023 is

	ROE %^**		(Q: Dec. 2023 )
=	Net Income	/	Total Stockholders Equity
=	-2.444	/	10.566
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(-2.444 / 0)	*	(0 / 17.8665)	*	(17.8665/ 10.566)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	%	*	0	*	1.6909
=	ROA %	*	Equity Multiplier
=	-13.68 %	*	1.6909
=	-23.13 %

Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) 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 Minerals's annulized ROA % for the quarter that ended in Dec. 2023 is

	ROA %		(Q: Dec. 2023 )
=	Net Income	/	Total Assets
=	-2.444	/	17.8665
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(-2.444 / 0)	*	(0 / 17.8665)
=	Net Margin %	*	Asset Turnover
=	%	*	0
=	-13.68 %

Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) 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 Minerals Asset Turnover Related Terms

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Fortune Minerals (Fortune Minerals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Fortune Minerals Ltd (OTCPK:FTMDF) » Definitions » Asset Turnover

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FT:Canada

Address

617 Wellington Street, London, ON, CAN, N6A 3R6

Website

https://www.fortuneminerals.com

Fortune Minerals Ltd is a Canadian mining and mine development company focused on developing the NICO Cobalt-Gold-Bismuth Copper Project in the Northwest Territories. The company plans to build a hydrometallurgical plant in southern Canada to process NICO metal concentrates. It also owns the satellite Sue-Dianne Copper-Silver-Gold Deposit located 25 km north of the NICO Project, which is a potential future source of incremental mill feed to extend the life.