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Safety Insurance Group (NAS:SAFT) Asset Turnover

: 0.11 (As of Sep. 2023)
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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. Safety Insurance Group's Revenue for the three months ended in Sep. 2023 was $226.5 Mil. Safety Insurance Group's Total Assets for the quarter that ended in Sep. 2023 was $2,034.1 Mil. Therefore, Safety Insurance Group's Asset Turnover for the quarter that ended in Sep. 2023 was 0.11.

Asset Turnover is linked to ROE % through Du Pont Formula. Safety Insurance Group's annualized ROE % for the quarter that ended in Sep. 2023 was 1.00%. It is also linked to ROA % through Du Pont Formula. Safety Insurance Group's annualized ROA % for the quarter that ended in Sep. 2023 was 0.38%.


Safety Insurance Group Asset Turnover Historical Data

The historical data trend for Safety Insurance Group'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.

Safety Insurance Group Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Asset Turnover
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.45 0.45 0.41 0.42 0.38

Safety Insurance Group Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
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 0.10 0.11 0.11 0.11 0.11

Competitive Comparison

For the Insurance - Property & Casualty subindustry, Safety Insurance Group'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.


Safety Insurance Group Asset Turnover Distribution

For the Insurance industry and Financial Services sector, Safety Insurance Group's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Safety Insurance Group's Asset Turnover falls into.



Safety Insurance Group Asset Turnover Calculation

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

Safety Insurance Group's Asset Turnover for the fiscal year that ended in Dec. 2022 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Dec. 2022 )/( (Total Assets (A: Dec. 2021 )+Total Assets (A: Dec. 2022 ))/ count )
=785.061/( (2117.391+1972.569)/ 2 )
=785.061/2044.98
=0.38

Safety Insurance Group's Asset Turnover for the quarter that ended in Sep. 2023 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Sep. 2023 )/( (Total Assets (Q: Jun. 2023 )+Total Assets (Q: Sep. 2023 ))/ count )
=226.528/( (2016.105+2052.105)/ 2 )
=226.528/2034.105
=0.11

* 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.


Safety Insurance Group  (NAS:SAFT) Asset Turnover Explanation

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

Safety Insurance Group's annulized ROE % for the quarter that ended in Sep. 2023 is

ROE %**(Q: Sep. 2023 )
=Net Income/Total Stockholders Equity
=7.796/781.7495
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(7.796 / 906.112)*(906.112 / 2034.105)*(2034.105/ 781.7495)
=Net Margin %*Asset Turnover*Equity Multiplier
=0.86 %*0.4455*2.602
=ROA %*Equity Multiplier
=0.38 %*2.602
=1.00 %

Note: The Net Income data used here is four times the quarterly (Sep. 2023) net income data. The Revenue data used here is four times the quarterly (Sep. 2023) 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:

Safety Insurance Group's annulized ROA % for the quarter that ended in Sep. 2023 is

ROA %(Q: Sep. 2023 )
=Net Income/Total Assets
=7.796/2034.105
=(Net Income / Revenue)*(Revenue / Total Assets)
=(7.796 / 906.112)*(906.112 / 2034.105)
=Net Margin %*Asset Turnover
=0.86 %*0.4455
=0.38 %

Note: The Net Income data used here is four times the quarterly (Sep. 2023) net income data. The Revenue data used here is four times the quarterly (Sep. 2023) 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.


Safety Insurance Group Asset Turnover Related Terms

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


Safety Insurance Group (NAS:SAFT) Business Description

Traded in Other Exchanges
Address
20 Custom House Street, Boston, MA, USA, 02110
Safety Insurance Group Inc is a provider of private passenger automobile insurance in Massachusetts. The company also offers property and casualty insurance products, including commercial automobiles, homeowners, dwelling fire, umbrella, and business owner policies. It operates in the business segment of Property and casualty insurance operations.
Executives
Glenn Hiltpold officer: VP of Actuarial Services 20 CUSTOM HOUSE STREET, BOSTON MA 02110
Brophy Charles Joseph Iii director 20 CUSTOM HOUSE STREET, BOSTON MA 02110
Dennis J. Langwell director C/O LIBERTY MUTUAL GROUP, 175 BERKELEY STREET, BOSTON MA 02116
Srb Corp 10 percent owner 695 ATLANTIC AVENUE, BOSTON MA 02111
Peter J Manning director FLEETBOSTON FINANCIAL CORP, 100 FEDERAL STREET, BOSTON MA 02110
Christopher Thomas Whitford officer: VP, CFO and Secretary 20 CUSTOM HOUSE STREET, BOSTON MA 02110
Stephen Albert Varga officer: VP - MIS 20 CUSTOM HOUSE STREET, BOSTON MA 02110
James Berry officer: VP - Insurance Operations C/O SAFETY INSURANCE, 20 CUSTOM HOUSE STREET, BOSTON MA 02110
Farina John Daniel Jr. director 20 CUSTOM HOUSE ST, BOSTON MA 02110
Deborah E Gray director 20 CUSTOM HOUSE STREET, BOSTON MA 02110
Frederic H Lindeberg director C/O SAFETY INSURANCE GROUP, INC., 20 CUSTOM HOUSE STREET, BOSTON MA 02110
Ann Marie Mckeown officer: V.P Insurance Operations 20 CUSTOM HOUSE STREET, BOSTON MA 02110
Moran Mary Coffey director DANVERS BANCORP, INC., ONE CONANT STREET, DANVERS MA 01923
David E Krupa officer: VP - Property Claims
David D Mckown director