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Pioneer Floating Rate Trust Asset Turnover

: -0.07 (As of May. 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. Pioneer Floating Rate Trust's Revenue for the six months ended in May. 2020 was $-30.69 Mil. Pioneer Floating Rate Trust's Total Assets for the quarter that ended in May. 2020 was $417.95 Mil. Therefore, Pioneer Floating Rate Trust's Asset Turnover for the quarter that ended in May. 2020 was -0.07.

Asset Turnover is linked to ROE % through Du Pont Formula. Pioneer Floating Rate Trust's annualized ROE % for the quarter that ended in May. 2020 was -22.83%. It is also linked to ROA % through Du Pont Formula. Pioneer Floating Rate Trust's annualized ROA % for the quarter that ended in May. 2020 was -14.89%.


Pioneer Floating Rate Trust 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.

Pioneer Floating Rate Trust Annual Data
Nov17 Nov18 Nov19
Asset Turnover 0.03 0.02 0.03

Pioneer Floating Rate Trust Semi-Annual Data
Nov17 May18 Nov18 May19 Nov19 May20
Asset Turnover Premium Member Only 0.02 0.00 0.02 0.01 -0.07

Pioneer Floating Rate Trust Asset Turnover Calculation

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

Pioneer Floating Rate Trust's Asset Turnover for the fiscal year that ended in Nov. 2019 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Nov. 2019 )/( (Total Assets (A: Nov. 2018 )+Total Assets (A: Nov. 2019 ))/ count )
=13.794/( (451.066+461.715)/ 2 )
=13.794/456.3905
=0.03

Pioneer Floating Rate Trust's Asset Turnover for the quarter that ended in May. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: May. 2020 )/( (Total Assets (Q: Nov. 2019 )+Total Assets (Q: May. 2020 ))/ count )
=-30.691/( (461.715+374.192)/ 2 )
=-30.691/417.9535
=-0.07

* 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.


Pioneer Floating Rate Trust  (NYSE:PHD) Asset Turnover Explanation

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

Pioneer Floating Rate Trust's annulized ROE % for the quarter that ended in May. 2020 is

ROE %**(Q: May. 2020 )
=Net Income/Total Stockholders Equity
=-62.224/272.5665
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(-62.224 / -61.382)*(-61.382 / 417.9535)*(417.9535/ 272.5665)
=Net Margin %*Asset Turnover*Equity Multiplier
=101.37 %*-0.1469*1.5334
=ROA %*Equity Multiplier
=-14.89 %*1.5334
=-22.83 %

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

Pioneer Floating Rate Trust's annulized ROA % for the quarter that ended in May. 2020 is

ROA %(Q: May. 2020 )
=Net Income/Total Assets
=-62.224/417.9535
=(Net Income / Revenue)*(Revenue / Total Assets)
=(-62.224 / -61.382)*(-61.382 / 417.9535)
=Net Margin %*Asset Turnover
=101.37 %*-0.1469
=-14.89 %

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


Pioneer Floating Rate Trust Asset Turnover Related Terms


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