Skillz (NYSE:SKLZ) Asset Turnover

: 0.07 (As of Mar. 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. Skillz's Revenue for the three months ended in Mar. 2023 was $44.4 Mil. Skillz's Total Assets for the quarter that ended in Mar. 2023 was $616.7 Mil. Therefore, Skillz's Asset Turnover for the quarter that ended in Mar. 2023 was 0.07.

Asset Turnover is linked to ROE % through Du Pont Formula. Skillz's annualized ROE % for the quarter that ended in Mar. 2023 was -53.44%. It is also linked to ROA % through Du Pont Formula. Skillz's annualized ROA % for the quarter that ended in Mar. 2023 was -23.09%.

Skillz Asset Turnover Historical Data

The historical data trend for Skillz'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.

Skillz Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Asset Turnover

3.09

1.43

0.58

0.33

Skillz Quarterly Data
	Dec18	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Asset Turnover											0.09	0.08	0.07	0.06	0.07

Competitive Comparison

For the Electronic Gaming & Multimedia subindustry, Skillz'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.

Annual Data Quarterly Data

Skillz Asset Turnover Distribution

For the Interactive Media industry and Communication Services sector, Skillz's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Skillz'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.

Skillz Asset Turnover Calculation

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

Skillz'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 )
=	269.709	/	( (1021.124	+	621.295)	/ 2 )
=	269.709	/	821.2095
=	0.33

Skillz's Asset Turnover for the quarter that ended in Mar. 2023 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (Q: Mar. 2023 )	/	( (Total Assets (Q: Dec. 2022 )	+	Total Assets (Q: Mar. 2023 ))	/ count )
=	44.383	/	( (621.295	+	612.162)	/ 2 )
=	44.383	/	616.7285
=	0.07

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.

Skillz (NYSE:SKLZ) Asset Turnover Explanation

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

Skillz's annulized ROE % for the quarter that ended in Mar. 2023 is

	ROE %^**		(Q: Mar. 2023 )
=	Net Income	/	Total Stockholders Equity
=	-142.372	/	266.3935
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(-142.372 / 177.532)	*	(177.532 / 616.7285)	*	(616.7285/ 266.3935)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	-80.2 %	*	0.2879	*	2.3151
=	ROA %	*	Equity Multiplier
=	-23.09 %	*	2.3151
=	-53.44 %

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

Skillz's annulized ROA % for the quarter that ended in Mar. 2023 is

	ROA %		(Q: Mar. 2023 )
=	Net Income	/	Total Assets
=	-142.372	/	616.7285
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(-142.372 / 177.532)	*	(177.532 / 616.7285)
=	Net Margin %	*	Asset Turnover
=	-80.2 %	*	0.2879
=	-23.09 %

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

Skillz Asset Turnover Related Terms

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Skillz (NYSE:SKLZ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Interactive Media » Skillz Inc (NYSE:SKLZ) » Definitions » Asset Turnover

Comparable Companies

Traded in Other Exchanges

SKLZ:Mexico

Address

P.O. Box 445, San francisco, CA, USA, 94104

Website

https://www.skillz.com

Skillz Inc is a mobile game development company. Its platform helps developers build multi-million dollar franchises by enabling social competition in their games.

Executives

Seth Schorr	director	PO BOX 445, SAN FRANCISCO CA 94104
Jason Roswig	officer: President & CFO	PO BOX 445, SAN FRANCISCO CA 94104
Henry M. Hoffman	director	PO BOX 445, SAN FRANCISCO CA 94104
Shari Glazer	director	PO BOX 445, SAN FRANCISCO CA 94104
Doris Fritz-bianchi	officer: Head of People	SKILLZ INC C/O CHARLOTTE EDELMAN, SAN FRANCISCO CA 94104
Vatsal Bhardwaj	officer: Chief Product Officer	SKILLZ INC C/O CHARLOTTE EDELMAN, SAN FRANCISCO CA 94104
Stanley Mbugua	officer: Chief Accounting Officer	SKILLZ INC, PO BOX 455, SAN FRAN CA 94104
Ian J Lee	officer: Chief Financial Officer	C/O SKILLZ INC., P.O. BOX 445, SAN FRANCISCO CA 94104-0445
Christopher S Gaffney	director	C/O GREAT HILL PARTNERS, L.P., 200 CLARENDON STREET, 29TH FLOOR, BOSTON MA 02116
Jerome Leon Bruckheimer	director	PHILPOTT MEEKS, 10030 VENTURA BOULEVARD, SUITE 380, ENCINO CA 91436
Scott D Henry	officer: Chief Financial Officer	3355 LAS VEGAS BOULEVARD SOUTH, LAS VEGAS NV 89109
Kent Wakeford	director	SKILLZ INC., C/O CHARLOTTE EDELMAN, P.O. BOX 445, SAN FRANCISCO CA 94104-0445
Vandana Mehta-krantz	director	SKILLZ INC., C/O CHARLOTTE EDELMAN, P.O. BOX 445, SAN FRANCISCO CA 94104-0445
Miriam Aguirre	officer: Chief Technology Officer	SKILLZ INC., C/O CHARLOTTE EDELMAN, P.O. BOX 445, SAN FRANCISCO CA 94104-0445
Favian Garcia	officer: Controller	SKILLZ INC., C/O CHARLOTTE EDELMAN, P.O. BOX 445, SAN FRANCISCO CA 94104-0445