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Gouverneur Bancorp Inc  (OTCPK:GOVB) Asset Turnover: 0.01 (As of Jun. 2008)

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Gouverneur Bancorp Inc's Revenue for the three months ended in Jun. 2008 was $1.23 Mil. Gouverneur Bancorp Inc's Total Assets for the quarter that ended in Jun. 2008 was $133.67 Mil. Therefore, Gouverneur Bancorp Inc's asset turnover for the quarter that ended in Jun. 2008 was 0.01.

Asset Turnover is linked to ROE % through Du Pont Formula. Gouverneur Bancorp Inc's annualized ROE % for the quarter that ended in Jun. 2008 was 4.37%. It is also linked to ROA % through Du Pont Formula. Gouverneur Bancorp Inc's annualized ROA % for the quarter that ended in Jun. 2008 was 0.68%.


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Gouverneur Bancorp Inc Annual Data

Sep98 Sep99 Sep00 Sep01 Sep02 Sep03 Sep04 Sep05 Sep06 Sep07
Asset Turnover Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.04 0.04 0.04 0.04 0.04

Gouverneur Bancorp Inc Quarterly Data

Sep03 Dec03 Mar04 Jun04 Sep04 Dec04 Mar05 Jun05 Sep05 Dec05 Mar06 Jun06 Sep06 Dec06 Mar07 Jun07 Sep07 Dec07 Mar08 Jun08
Asset Turnover Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.01 0.01 0.01 0.01 0.01

Calculation

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

Gouverneur Bancorp Inc's Asset Turnover for the fiscal year that ended in Sep. 2007 is calculated as

Asset Turnover
=Sales/Average Total Assets
=Revenue (A: Sep. 2007 )/( (Total Assets (A: Sep. 2006 )+Total Assets (A: Sep. 2007 ))/ 2 )
=4.954/( (130.075+132.589)/ 2 )
=4.954/131.332
=0.04

Gouverneur Bancorp Inc's Asset Turnover for the quarter that ended in Jun. 2008 is calculated as

Asset Turnover
=Sales/Average Total Assets
=Revenue (Q: Jun. 2008 )/( (Total Assets (Q: Mar. 20 )+Total Assets (Q: Jun. 2008 ))/ 2 )
=1.228/( (132.732+134.609)/ 2 )
=1.228/133.6705
=0.01

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's 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.


Explanation

Asset Turnover is linked to Return on Equity (ROE) through Du Pont Formula.

Gouverneur Bancorp Inc's annulized ROE % for the quarter that ended in Jun. 2008 is

ROE %(Q: Jun. 2008 )
=Net Income/Total Equity
=0.908/20.7645
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Equity)
=(0.908 / 4.912)*(4.912 / 133.6705)*(133.6705/ 20.7645)
=Net Margin %*Asset Turnover*Leverage Ratio
=18.49 %*0.0367*6.4375
=ROA %*Leverage Ratio
=0.68 %*6.4375
=4.37 %

Note: The Net Income data used here is four times the quarterly (Jun. 2008) net income data. The Revenue data used here is four times the quarterly (Jun. 2008) revenue data.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

It is also linked to Return on Assets (ROA) through Du Pont Formula:

Gouverneur Bancorp Inc's annulized ROA % for the quarter that ended in Jun. 2008 is

ROA %(Q: Jun. 2008 )
=Net Income/Total Assets
=0.908/133.6705
=(Net Income / Revenue)*(Revenue / Total Assets)
=(0.908 / 4.912)*(4.912 / 133.6705)
=Net Margin %*Asset Turnover
=18.49 %*0.0367
=0.68 %

Note: The Net Income data used here is four times the quarterly (Jun. 2008) net income data. The Revenue data used here is four times the quarterly (Jun. 2008) revenue data.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's 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.


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