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Touei Housing (TSE:8875) Asset Turnover : 0.40 (As of Jul. 2013)


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What is Touei Housing Asset Turnover?

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Touei Housing's Revenue for the three months ended in Jul. 2013 was 円36,345 Mil. Touei Housing's Total Assets for the quarter that ended in Jul. 2013 was 円90,619 Mil. Therefore, Touei Housing's Asset Turnover for the quarter that ended in Jul. 2013 was 0.40.

Asset Turnover is linked to ROE % through Du Pont Formula. Touei Housing's annualized ROE % for the quarter that ended in Jul. 2013 was 12.36%. It is also linked to ROA % through Du Pont Formula. Touei Housing's annualized ROA % for the quarter that ended in Jul. 2013 was 5.44%.


Touei Housing Asset Turnover Historical Data

The historical data trend for Touei Housing'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.

Touei Housing Asset Turnover Chart

Touei Housing Annual Data
Trend Jan09 Jan10 Jan11 Jan12 Jan13
Asset Turnover
1.39 1.22 1.36 1.34 1.35

Touei Housing Quarterly Data
Jan11 Apr11 Jul11 Oct11 Jan12 Apr12 Jul12 Oct12 Jan13 Apr13 Jul13
Asset Turnover Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.41 0.28 0.37 0.33 0.40

Competitive Comparison of Touei Housing's Asset Turnover

For the Real Estate Services subindustry, Touei Housing'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.


Touei Housing's Asset Turnover Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Touei Housing's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Touei Housing's Asset Turnover falls into.



Touei Housing Asset Turnover Calculation

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

Touei Housing's Asset Turnover for the fiscal year that ended in Jan. 2013 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Jan. 2013 )/( (Total Assets (A: Jan. 2012 )+Total Assets (A: Jan. 2013 ))/ count )
=112820/( (79774+87484)/ 2 )
=112820/83629
=1.35

Touei Housing's Asset Turnover for the quarter that ended in Jul. 2013 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Jul. 2013 )/( (Total Assets (Q: Apr. 2013 )+Total Assets (Q: Jul. 2013 ))/ count )
=36345/( (88596+92641)/ 2 )
=36345/90618.5
=0.40

* 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.


Touei Housing  (TSE:8875) Asset Turnover Explanation

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

Touei Housing's annulized ROE % for the quarter that ended in Jul. 2013 is

ROE %**(Q: Jul. 2013 )
=Net Income/Total Stockholders Equity
=4928/39872
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(4928 / 145380)*(145380 / 90618.5)*(90618.5/ 39872)
=Net Margin %*Asset Turnover*Equity Multiplier
=3.39 %*1.6043*2.2727
=ROA %*Equity Multiplier
=5.44 %*2.2727
=12.36 %

Note: The Net Income data used here is four times the quarterly (Jul. 2013) net income data. The Revenue data used here is four times the quarterly (Jul. 2013) 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:

Touei Housing's annulized ROA % for the quarter that ended in Jul. 2013 is

ROA %(Q: Jul. 2013 )
=Net Income/Total Assets
=4928/90618.5
=(Net Income / Revenue)*(Revenue / Total Assets)
=(4928 / 145380)*(145380 / 90618.5)
=Net Margin %*Asset Turnover
=3.39 %*1.6043
=5.44 %

Note: The Net Income data used here is four times the quarterly (Jul. 2013) net income data. The Revenue data used here is four times the quarterly (Jul. 2013) 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.


Touei Housing Asset Turnover Related Terms

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Touei Housing (TSE:8875) Business Description

Traded in Other Exchanges
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Address
Touei Housing Corporation is a real estate company. It operates in residential and real estate businesses, with Detached Housing sales business as their core business. Its activities include sale of lots of land, construction contracting among others.

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