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Youdao Asset Turnover

: 0.51 (As of Sep. 2021)
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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. Youdao's Revenue for the three months ended in Sep. 2021 was $214.9 Mil. Youdao's Total Assets for the quarter that ended in Sep. 2021 was $421.8 Mil. Therefore, Youdao's Asset Turnover for the quarter that ended in Sep. 2021 was 0.51.

Asset Turnover is linked to ROE % through Du Pont Formula. Youdao's annualized ROE % for the quarter that ended in Sep. 2021 was 67.32%. It is also linked to ROA % through Du Pont Formula. Youdao's annualized ROA % for the quarter that ended in Sep. 2021 was -18.93%.


Youdao Asset Turnover Historical Data

The historical data trend for Youdao'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.

* Premium members only.

Youdao Annual Data
Trend Dec17 Dec18 Dec19 Dec20
Asset Turnover
2.82 1.86 0.96 1.58

Youdao Quarterly Data
Dec17 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 0.43 0.57 0.52 0.43 0.51

Youdao Asset Turnover Calculation

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

Youdao's Asset Turnover for the fiscal year that ended in Dec. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Dec. 2020 )/( (Total Assets (A: Dec. 2019 )+Total Assets (A: Dec. 2020 ))/ count )
=484.38135580261/( (297.48406689764+316.58556726255)/ 2 )
=484.38135580261/307.0348170801
=1.58

Youdao's Asset Turnover for the quarter that ended in Sep. 2021 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Sep. 2021 )/( (Total Assets (Q: Jun. 2021 )+Total Assets (Q: Sep. 2021 ))/ count )
=214.87415392717/( (463.80513618677+379.80979818162)/ 2 )
=214.87415392717/421.8074671842
=0.51

* 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.


Youdao  (NYSE:DAO) Asset Turnover Explanation

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

Youdao's annulized ROE % for the quarter that ended in Sep. 2021 is

ROE %**(Q: Sep. 2021 )
=Net Income/Total Stockholders Equity
=-79.858742623484/-118.61778038415
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(-79.858742623484 / 859.49661570869)*(859.49661570869 / 421.8074671842)*(421.8074671842/ -118.61778038415)
=Net Margin %*Asset Turnover*Equity Multiplier
=-9.29 %*2.0377*-3.556
=ROA %*Equity Multiplier
=-18.93 %*-3.556
=67.32 %

Note: The Net Income data used here is four times the quarterly (Sep. 2021) net income data. The Revenue data used here is four times the quarterly (Sep. 2021) 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:

Youdao's annulized ROA % for the quarter that ended in Sep. 2021 is

ROA %(Q: Sep. 2021 )
=Net Income/Total Assets
=-79.858742623484/421.8074671842
=(Net Income / Revenue)*(Revenue / Total Assets)
=(-79.858742623484 / 859.49661570869)*(859.49661570869 / 421.8074671842)
=Net Margin %*Asset Turnover
=-9.29 %*2.0377
=-18.93 %

Note: The Net Income data used here is four times the quarterly (Sep. 2021) net income data. The Revenue data used here is four times the quarterly (Sep. 2021) 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.


Youdao Asset Turnover Related Terms

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Youdao Business Description

Youdao logo
Industry
Traded in Other Exchanges
Address
No. 399, Wangshang Road, Binjiang District, Hangzhou, CHN, 310051
Youdao Inc develops and markets software applications. It engages in developing technologies to provide learning content, applications, and solutions. The firm operates in three segments: Learning services, Learning products, and Online marketing services. Nearly half of its revenues come from the Learning services segment, which generates revenues from online courses, mainly including Youdao Premium Courses, NetEase Cloud Classroom, and China University MOOC. The learning products segment includes sales of smart devices such as Youdao Dictionary Pen and Youdao Pocket Translator. It generates revenues from the online marketing services through the provision of different formats of advertisement, including but not limited to banners, text links, videos, logos, buttons, and rich media.

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