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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Icahn Enterprises LP's Revenue for the three months ended in Dec. 2023 was $2,826 Mil. Icahn Enterprises LP's Total Assets for the quarter that ended in Dec. 2023 was $21,308 Mil. Therefore, Icahn Enterprises LP's Asset Turnover for the quarter that ended in Dec. 2023 was 0.13.
Asset Turnover is linked to ROE % through Du Pont Formula. Icahn Enterprises LP's annualized ROE % for the quarter that ended in Dec. 2023 was -16.69%. It is also linked to ROA % through Du Pont Formula. Icahn Enterprises LP's annualized ROA % for the quarter that ended in Dec. 2023 was -2.61%.
The historical data trend for Icahn Enterprises LP'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.
Icahn Enterprises LP Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Asset Turnover | Get a 7-Day Free Trial | 0.43 | 0.30 | 0.42 | 0.51 | 0.49 |
Icahn Enterprises LP Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Asset Turnover | Get a 7-Day Free Trial | 0.13 | 0.11 | 0.12 | 0.15 | 0.13 |
For the Oil & Gas Refining & Marketing subindustry, Icahn Enterprises LP'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.
For the Oil & Gas industry and Energy sector, Icahn Enterprises LP's Asset Turnover distribution charts can be found below:
* The bar in red indicates where Icahn Enterprises LP's Asset Turnover falls into.
Asset Turnover measures how quickly a company turns over its asset through sales.
Icahn Enterprises LP'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 ) |
= | 11847 | / | ( (27914 | + | 20858) | / 2 ) |
= | 11847 | / | 24386 | |||
= | 0.49 |
Icahn Enterprises LP'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 ) |
= | 2826 | / | ( (21757 | + | 20858) | / 2 ) |
= | 2826 | / | 21307.5 | |||
= | 0.13 |
* 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.
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.
Icahn Enterprises LP (NAS:IEP) Asset Turnover Explanation
Asset Turnover is linked to ROE % through Du Pont Formula.
Icahn Enterprises LP's annulized ROE % for the quarter that ended in Dec. 2023 is
ROE %** | (Q: Dec. 2023 ) | ||||
= | Net Income | / | Total Stockholders Equity | ||
= | -556 | / | 3330.5 | ||
= | (Net Income / Revenue) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
= | (-556 / 11304) | * | (11304 / 21307.5) | * | (21307.5/ 3330.5) |
= | Net Margin % | * | Asset Turnover | * | Equity Multiplier |
= | -4.92 % | * | 0.5305 | * | 6.3977 |
= | ROA % | * | Equity Multiplier | ||
= | -2.61 % | * | 6.3977 | ||
= | -16.69 % |
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.
* 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.
** 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:
Icahn Enterprises LP's annulized ROA % for the quarter that ended in Dec. 2023 is
ROA % | (Q: Dec. 2023 ) | ||
= | Net Income | / | Total Assets |
= | -556 | / | 21307.5 |
= | (Net Income / Revenue) | * | (Revenue / Total Assets) |
= | (-556 / 11304) | * | (11304 / 21307.5) |
= | Net Margin % | * | Asset Turnover |
= | -4.92 % | * | 0.5305 |
= | -2.61 % |
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.
* 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.
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.
Thank you for viewing the detailed overview of Icahn Enterprises LP's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Brett Icahn | director | C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH, SUNNY ISLES FL 33160 |
David Willetts | director, officer: President and CEO | 16690 COLLINS AVENUE - PH-1, SUNNY ISLES BEACH FL 33160 |
Ted Papapostolou | director, officer: CFO & Chief Accounting Officer | 16690 COLLINS AVE., SUITE PH-1, SUNNY ISLES BEACH FL 33160 |
A B Krongard | director | C/O UNDER ARMOUR, INC., 1020 HULL STREET, BALTIMORE MD 21230 |
Aris Kekedjian | director, officer: President and CEO | 655 THIRD AVENUE, 8TH FLOOR, 10017 NY 10017 |
Nancy Martori Dunlap | director | C/O CVR REFINING, LP, 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479 |
Carl C Icahn | director, 10 percent owner, officer: Chairman of the Board of GP | C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH-1, SUNNY ISLES BEACH FL 33160 |
Stephen A Mongillo | director | C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH, SUNNY ISLES FL 33160 |
Denise Barton | director | 3149 STERLINGSHIRE DRIVE, LAS VEGAS NV 89146 |
Jack Gumpert Wasserman | director | 510 EAST 86TH STREET, NEW YORK NY 10028-7504 |
Michael Nevin | director | C/O ICAHN CAPITAL LP, 767 FIFTH AVENUE, SUITE 4700, NEW YORK NY 10153 |
James Larry Nelson | director | 2747 PARADISE ROAD, PH2804, LAS VEGAS NV 89109 |
Keith Cozza | director | C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH, SUNNY ISLES FL 33160 |
Sunghwan Cho | officer: Chief Financial Officer | C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH, SUNNY ISLES FL 33160 |
Peter Reck | officer: Principal Accounting Officer | C/O ICAHN ENTERPRISES L.P., 767 FIFTH AVENUE, SUITE 4600, NEW YORK NY 10153 |
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