Tung Lok Restaurants(2000) (SGX:540) Asset Turnover : 0.84 (As of Sep. 2023)

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What is Tung Lok Restaurants(2000) Asset Turnover?

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Tung Lok Restaurants(2000)'s Revenue for the six months ended in Sep. 2023 was S$42.56 Mil. Tung Lok Restaurants(2000)'s Total Assets for the quarter that ended in Sep. 2023 was S$50.93 Mil. Therefore, Tung Lok Restaurants(2000)'s Asset Turnover for the quarter that ended in Sep. 2023 was 0.84.

Asset Turnover is linked to ROE % through Du Pont Formula. Tung Lok Restaurants(2000)'s annualized ROE % for the quarter that ended in Sep. 2023 was 3.56%. It is also linked to ROA % through Du Pont Formula. Tung Lok Restaurants(2000)'s annualized ROA % for the quarter that ended in Sep. 2023 was 1.05%.

Tung Lok Restaurants(2000) Asset Turnover Historical Data

The historical data trend for Tung Lok Restaurants(2000)'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.

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Tung Lok Restaurants(2000) Asset Turnover Chart

Tung Lok Restaurants(2000) Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Asset Turnover

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2.60

2.10

1.41

1.27

1.92

Tung Lok Restaurants(2000) Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Asset Turnover	Get a 7-Day Free Trial															0.56	0.86	0.88	1.00	0.84

Competitive Comparison of Tung Lok Restaurants(2000)'s Asset Turnover

For the Restaurants subindustry, Tung Lok Restaurants(2000)'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.

Tung Lok Restaurants(2000)'s Asset Turnover Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Tung Lok Restaurants(2000)'s Asset Turnover distribution charts can be found below:

* The bar in red indicates where Tung Lok Restaurants(2000)'s Asset Turnover falls into.

Tung Lok Restaurants(2000) Asset Turnover Calculation

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

Tung Lok Restaurants(2000)'s Asset Turnover for the fiscal year that ended in Mar. 2023 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (A: Mar. 2023 )	/	( (Total Assets (A: Mar. 2022 )	+	Total Assets (A: Mar. 2023 ))	/ count )
=	86.192	/	( (41.958	+	48.045)	/ 2 )
=	86.192	/	45.0015
=	1.92

Tung Lok Restaurants(2000)'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: Mar. 2023 )	+	Total Assets (Q: Sep. 2023 ))	/ count )
=	42.556	/	( (48.045	+	53.818)	/ 2 )
=	42.556	/	50.9315
=	0.84

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.

Tung Lok Restaurants(2000) (SGX:540) Asset Turnover Explanation

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

Tung Lok Restaurants(2000)'s annulized ROE % for the quarter that ended in Sep. 2023 is

	ROE %^**		(Q: Sep. 2023 )
=	Net Income	/	Total Stockholders Equity
=	0.534	/	14.991
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(0.534 / 85.112)	*	(85.112 / 50.9315)	*	(50.9315/ 14.991)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	0.63 %	*	1.6711	*	3.3975
=	ROA %	*	Equity Multiplier
=	1.05 %	*	3.3975
=	3.56 %

Note: The Net Income data used here is two times the semi-annual (Sep. 2023) net income data. The Revenue data used here is two times the semi-annual (Sep. 2023) revenue data.

^** 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:

Tung Lok Restaurants(2000)'s annulized ROA % for the quarter that ended in Sep. 2023 is

	ROA %		(Q: Sep. 2023 )
=	Net Income	/	Total Assets
=	0.534	/	50.9315
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(0.534 / 85.112)	*	(85.112 / 50.9315)
=	Net Margin %	*	Asset Turnover
=	0.63 %	*	1.6711
=	1.05 %

Note: The Net Income data used here is two times the semi-annual (Sep. 2023) net income data. The Revenue data used here is two times the semi-annual (Sep. 2023) revenue data.

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.

Tung Lok Restaurants(2000) Asset Turnover Related Terms

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Tung Lok Restaurants(2000) (SGX:540) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Restaurants » Tung Lok Restaurants(2000) Ltd (SGX:540) » Definitions » Asset Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

26 Tai Seng Street, Number 02-01, Singapore, SGP, 534057

Website

https://www.tunglok.com

Tung Lok Restaurants(2000) Ltd operates restaurant chains. In addition, the company also provides outdoor events catering services. Its restaurants include LingZhi Vegetarian, Dancing Crab, Shin Yeh, TungLok Teahouse, Slappy Cakes, My Humble House, and TungLok Signatures. The company has operations in Singapore and the People's Republic of China of which Singapore contributes the vast majority of total revenue. It operates in the following business segments: Restaurant, Catering, Manufacturing, and Other. The Restaurant segment generates the majority of revenue for the company.

Tung Lok Restaurants(2000) (SGX:540) Headlines

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