GURUFOCUS.COM » STOCK LIST » USA » NAS » Qorvo Inc (NAS:QRVO) » Definitions » Asset Turnover
Switch to:

Qorvo (NAS:QRVO) Asset Turnover

: 0.16 (As of Sep. 2022)
View and export this data going back to 2015. Start your Free Trial

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Qorvo's Revenue for the three months ended in Sep. 2022 was $1,158 Mil. Qorvo's Total Assets for the quarter that ended in Sep. 2022 was $7,353 Mil. Therefore, Qorvo's Asset Turnover for the quarter that ended in Sep. 2022 was 0.16.

Asset Turnover is linked to ROE % through Du Pont Formula. Qorvo's annualized ROE % for the quarter that ended in Sep. 2022 was 17.50%. It is also linked to ROA % through Du Pont Formula. Qorvo's annualized ROA % for the quarter that ended in Sep. 2022 was 10.26%.


Qorvo Asset Turnover Historical Data

The historical data trend for Qorvo'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.

Qorvo Annual Data
Trend Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22
Asset Turnover
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.46 0.51 0.52 0.58 0.63

Qorvo Quarterly Data
Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.17 0.15 0.15 0.14 0.16

Competitive Comparison

For the Semiconductors subindustry, Qorvo'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.

   

Qorvo Asset Turnover Distribution

For the Semiconductors industry and Technology sector, Qorvo's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Qorvo's Asset Turnover falls in comparison to its industry or sector. The grey bar indicates the Asset Turnover's extreme value range as defined by GuruFocus.



Qorvo Asset Turnover Calculation

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

Qorvo's Asset Turnover for the fiscal year that ended in Mar. 2022 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Mar. 2022 )/( (Total Assets (A: Mar. 2021 )+Total Assets (A: Mar. 2022 ))/ count )
=4645.714/( (7221.47+7509.072)/ 2 )
=4645.714/7365.271
=0.63

Qorvo's Asset Turnover for the quarter that ended in Sep. 2022 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Sep. 2022 )/( (Total Assets (Q: Jun. 2022 )+Total Assets (Q: Sep. 2022 ))/ count )
=1158.057/( (7330.521+7374.732)/ 2 )
=1158.057/7352.6265
=0.16

* 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.


Qorvo  (NAS:QRVO) Asset Turnover Explanation

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

Qorvo's annulized ROE % for the quarter that ended in Sep. 2022 is

ROE %**(Q: Sep. 2022 )
=Net Income/Total Stockholders Equity
=754.46/4311.3725
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(754.46 / 4632.228)*(4632.228 / 7352.6265)*(7352.6265/ 4311.3725)
=Net Margin %*Asset Turnover*Equity Multiplier
=16.29 %*0.63*1.7054
=ROA %*Equity Multiplier
=10.26 %*1.7054
=17.50 %

Note: The Net Income data used here is four times the quarterly (Sep. 2022) net income data. The Revenue data used here is four times the quarterly (Sep. 2022) 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:

Qorvo's annulized ROA % for the quarter that ended in Sep. 2022 is

ROA %(Q: Sep. 2022 )
=Net Income/Total Assets
=754.46/7352.6265
=(Net Income / Revenue)*(Revenue / Total Assets)
=(754.46 / 4632.228)*(4632.228 / 7352.6265)
=Net Margin %*Asset Turnover
=16.29 %*0.63
=10.26 %

Note: The Net Income data used here is four times the quarterly (Sep. 2022) net income data. The Revenue data used here is four times the quarterly (Sep. 2022) 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.


Qorvo Asset Turnover Related Terms

Thank you for viewing the detailed overview of Qorvo's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.


Qorvo (NAS:QRVO) Business Description

Qorvo logo
Traded in Other Exchanges
Address
7628 Thorndike Road, Greensboro, NC, USA, 27409-9421
Qorvo represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged in January 2015. The company specializes in radio frequency filters, power amplifiers, and front-end modules used in many of the world's most advanced smartphones. Qorvo also has a suite of products sold into a variety of nonsmartphone end markets, such as wireless base stations, cable TV and networking equipment, and infrastructure and military applications.
Executives
Frank P. Stewart officer: VP, Advanced Cellular 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Grant Brown officer: VP of Treasury & Interim CFO 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Philip Chesley officer: Pres. Infra & Defense 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Judy Bruner director C/O SANDISK CORPORATION, 601 MCCARTHY BLVD., MILPITAS CA 95035
Paul J Fego officer: VP, Global Operations 15 SECOR ROAD, PO BOX 5226, BROOKFIELD CT 06804
Susan Louise Spradley director C/O NORTEL NETWORKS, 8200 DIXIE ROAD STE 100, BRAMPTON ONTARIO A6 L6T 5PT
Mark J. Murphy officer: Chief Financial Officer DELPHI AUTOMOTIVE PLC, 5725 DELPHI DRIVE, TROY MI 48098
Gina Harrison officer: VP and Corporate Controller 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Walter H Wilkinson director C/O RF MICRO DEVICES, INC., 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Michael J. Laber officer: VP and Corporate Controller 2300 NE BROOKWOOD PARKWAY, HILLSBORO OR 97124
Steven J Buhaly officer: CFO and Secretary 1195 NW LOMPTON DRIVE, BEAVESTON OR 97006
Daniel A Dileo director C/O RF MICRO DEVICES, 7628 THORNDIKE ROAD, GREENSBORO NC 27409
C Scott Gibson director PMB 316, PO BOX 30,000, JACKSON WY 83002
Roderick Nelson director 2300 NE BROOKWOOD PARKWAY, HILLSBORO OR 97124
Ho David H Y director 5500 WAYZATA BOULEVARD, SUITE 600, GOLDEN VALLEY MN 55416

Qorvo (NAS:QRVO) Headlines

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
premium membership