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Invesco Highome 2024 Target Term Asset Turnover

: 0.03 (As of Feb. 2020)
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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. Invesco Highome 2024 Target Term's Revenue for the six months ended in Feb. 2020 was $3.66 Mil. Invesco Highome 2024 Target Term's Total Assets for the quarter that ended in Feb. 2020 was $123.69 Mil. Therefore, Invesco Highome 2024 Target Term's Asset Turnover for the quarter that ended in Feb. 2020 was 0.03.

Asset Turnover is linked to ROE % through Du Pont Formula. Invesco Highome 2024 Target Term's annualized ROE % for the quarter that ended in Feb. 2020 was 7.63%. It is also linked to ROA % through Du Pont Formula. Invesco Highome 2024 Target Term's annualized ROA % for the quarter that ended in Feb. 2020 was 5.77%.


Invesco Highome 2024 Target Term Asset Turnover 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.

Invesco Highome 2024 Target Term Annual Data
Feb18 Feb19 Feb20
Asset Turnover -0.00 0.07 0.10

Invesco Highome 2024 Target Term Semi-Annual Data
Feb18 Aug18 Feb19 Aug19 Feb20
Asset Turnover 0.00 0.04 0.03 0.07 0.03

Invesco Highome 2024 Target Term Asset Turnover Calculation

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

Invesco Highome 2024 Target Term's Asset Turnover for the fiscal year that ended in Feb. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Feb. 2020 )/( (Total Assets (A: Feb. 2019 )+Total Assets (A: Feb. 2020 ))/ count )
=11.456/( (118.152+124.221)/ 2 )
=11.456/121.1865
=0.09

Invesco Highome 2024 Target Term's Asset Turnover for the quarter that ended in Feb. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Feb. 2020 )/( (Total Assets (Q: Aug. 2019 )+Total Assets (Q: Feb. 2020 ))/ count )
=3.662/( (123.156+124.221)/ 2 )
=3.662/123.6885
=0.03

* 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.


Invesco Highome 2024 Target Term  (NYSE:IHTA) Asset Turnover Explanation

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

Invesco Highome 2024 Target Term's annulized ROE % for the quarter that ended in Feb. 2020 is

ROE %**(Q: Feb. 2020 )
=Net Income/Total Stockholders Equity
=7.136/93.4925
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(7.136 / 7.324)*(7.324 / 123.6885)*(123.6885/ 93.4925)
=Net Margin %*Asset Turnover*Equity Multiplier
=97.43 %*0.0592*1.323
=ROA %*Equity Multiplier
=5.77 %*1.323
=7.63 %

Note: The Net Income data used here is two times the semi-annual (Feb. 2020) net income data. The Revenue data used here is two times the semi-annual (Feb. 2020) revenue data.

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

Invesco Highome 2024 Target Term's annulized ROA % for the quarter that ended in Feb. 2020 is

ROA %(Q: Feb. 2020 )
=Net Income/Total Assets
=7.136/123.6885
=(Net Income / Revenue)*(Revenue / Total Assets)
=(7.136 / 7.324)*(7.324 / 123.6885)
=Net Margin %*Asset Turnover
=97.43 %*0.0592
=5.77 %

Note: The Net Income data used here is two times the semi-annual (Feb. 2020) net income data. The Revenue data used here is two times the semi-annual (Feb. 2020) 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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