HiWave Technologies (LSE:HIW) Asset Turnover : 0.20 (As of Sep. 2012)

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What is HiWave Technologies Asset Turnover?

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. HiWave Technologies's Revenue for the six months ended in Sep. 2012 was £0.63 Mil. HiWave Technologies's Total Assets for the quarter that ended in Sep. 2012 was £3.14 Mil. Therefore, HiWave Technologies's Asset Turnover for the quarter that ended in Sep. 2012 was 0.20.

Asset Turnover is linked to ROE % through Du Pont Formula. HiWave Technologies's annualized ROE % for the quarter that ended in Sep. 2012 was -126.75%. It is also linked to ROA % through Du Pont Formula. HiWave Technologies's annualized ROA % for the quarter that ended in Sep. 2012 was -89.85%.

HiWave Technologies Asset Turnover Historical Data

The historical data trend for HiWave Technologies'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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HiWave Technologies Asset Turnover Chart

HiWave Technologies Annual Data

Trend

Jun03

Jun04

Jun05

Jun06

Jun07

Jun08

Jun09

Jun10

Sep11

Sep12

Asset Turnover

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0.82

1.32

0.91

0.57

0.33

HiWave Technologies Semi-Annual Data
	Dec02	Jun03	Dec03	Jun04	Dec04	Jun05	Dec05	Jun06	Dec06	Jun07	Dec07	Jun08	Dec08	Jun09	Dec09	Jun10	Dec10	Jun11	Mar12	Sep12
Asset Turnover	Get a 7-Day Free Trial															0.51	0.17	0.11	0.12	0.20

Competitive Comparison of HiWave Technologies's Asset Turnover

For the Electronic Components subindustry, HiWave Technologies'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.

HiWave Technologies's Asset Turnover Distribution in the Hardware Industry

For the Hardware industry and Technology sector, HiWave Technologies's Asset Turnover distribution charts can be found below:

* The bar in red indicates where HiWave Technologies's Asset Turnover falls into.

HiWave Technologies Asset Turnover Calculation

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

HiWave Technologies's Asset Turnover for the fiscal year that ended in Sep. 2012 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (A: Sep. 2012 )	/	( (Total Assets (A: Sep. 2011 )	+	Total Assets (A: Sep. 2012 ))	/ count )
=	1.225	/	( (5.252	+	2.148)	/ 2 )
=	1.225	/	3.7
=	0.33

HiWave Technologies's Asset Turnover for the quarter that ended in Sep. 2012 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (Q: Sep. 2012 )	/	( (Total Assets (Q: Mar. 2012 )	+	Total Assets (Q: Sep. 2012 ))	/ count )
=	0.631	/	( (4.138	+	2.148)	/ 2 )
=	0.631	/	3.143
=	0.20

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.

HiWave Technologies (LSE:HIW) Asset Turnover Explanation

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

HiWave Technologies's annulized ROE % for the quarter that ended in Sep. 2012 is

	ROE %^**		(Q: Sep. 2012 )
=	Net Income	/	Total Stockholders Equity
=	-2.824	/	2.228
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(-2.824 / 1.262)	*	(1.262 / 3.143)	*	(3.143/ 2.228)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	-223.77 %	*	0.4015	*	1.4107
=	ROA %	*	Equity Multiplier
=	-89.85 %	*	1.4107
=	-126.75 %

Note: The Net Income data used here is two times the semi-annual (Sep. 2012) net income data. The Revenue data used here is two times the semi-annual (Sep. 2012) 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:

HiWave Technologies's annulized ROA % for the quarter that ended in Sep. 2012 is

	ROA %		(Q: Sep. 2012 )
=	Net Income	/	Total Assets
=	-2.824	/	3.143
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(-2.824 / 1.262)	*	(1.262 / 3.143)
=	Net Margin %	*	Asset Turnover
=	-223.77 %	*	0.4015
=	-89.85 %

Note: The Net Income data used here is two times the semi-annual (Sep. 2012) net income data. The Revenue data used here is two times the semi-annual (Sep. 2012) 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.

HiWave Technologies Asset Turnover Related Terms

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