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WOK (WORK Medical Technology Group) Asset Turnover : 0.17 (As of Mar. 2024)


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What is WORK Medical Technology Group Asset Turnover?

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. WORK Medical Technology Group's Revenue for the six months ended in Mar. 2024 was $5.31 Mil. WORK Medical Technology Group's Total Assets for the quarter that ended in Mar. 2024 was $31.23 Mil. Therefore, WORK Medical Technology Group's Asset Turnover for the quarter that ended in Mar. 2024 was 0.17.

Asset Turnover is linked to ROE % through Du Pont Formula. WORK Medical Technology Group's annualized ROE % for the quarter that ended in Mar. 2024 was 4.52%. It is also linked to ROA % through Du Pont Formula. WORK Medical Technology Group's annualized ROA % for the quarter that ended in Mar. 2024 was 1.45%.

WORK Medical Technology Group Asset Turnover Historical Data

The historical data trend for WORK Medical Technology 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.

WORK Medical Technology Group Asset Turnover Chart

WORK Medical Technology Group Annual Data
Trend Sep20 Sep21 Sep22 Sep23
Asset Turnover
0.94 1.06 0.70 0.49

WORK Medical Technology Group Semi-Annual Data
Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24
Asset Turnover Get a 7-Day Free Trial 0.24 0.46 0.32 0.15 0.17

Competitive Comparison of WORK Medical Technology Group's Asset Turnover

For the Medical Devices subindustry, WORK Medical Technology 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.

WORK Medical Technology Group's Asset Turnover Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, WORK Medical Technology Group's Asset Turnover distribution charts can be found below:

* The bar in red indicates where WORK Medical Technology Group's Asset Turnover falls into.


WORK Medical Technology Group Asset Turnover Calculation

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

WORK Medical Technology Group's Asset Turnover for the fiscal year that ended in Sep. 2023 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Sep. 2023 )/( (Total Assets (A: Sep. 2022 )+Total Assets (A: Sep. 2023 ))/ count )
=13.566/( (25.541+29.959)/ 2 )
=13.566/27.75
=0.49

WORK Medical Technology Group's Asset Turnover for the quarter that ended in Mar. 2024 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Mar. 2024 )/( (Total Assets (Q: Sep. 2023 )+Total Assets (Q: Mar. 2024 ))/ count )
=5.309/( (29.959+32.494)/ 2 )
=5.309/31.2265
=0.17

* 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.

WORK Medical Technology Group  (NAS:WOK) Asset Turnover Explanation

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

WORK Medical Technology Group's annulized ROE % for the quarter that ended in Mar. 2024 is

ROE %**(Q: Mar. 2024 )
=Net Income/Total Stockholders Equity
=0.454/10.045
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(0.454 / 10.618)*(10.618 / 31.2265)*(31.2265/ 10.045)
=Net Margin %*Asset Turnover*Equity Multiplier
=4.28 %*0.34*3.1087
=ROA %*Equity Multiplier
=1.45 %*3.1087
=4.52 %

Note: The Net Income data used here is two times the semi-annual (Mar. 2024) net income data. The Revenue data used here is two times the semi-annual (Mar. 2024) 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:

WORK Medical Technology Group's annulized ROA % for the quarter that ended in Mar. 2024 is

ROA %(Q: Mar. 2024 )
=Net Income/Total Assets
=0.454/31.2265
=(Net Income / Revenue)*(Revenue / Total Assets)
=(0.454 / 10.618)*(10.618 / 31.2265)
=Net Margin %*Asset Turnover
=4.28 %*0.34
=1.45 %

Note: The Net Income data used here is two times the semi-annual (Mar. 2024) net income data. The Revenue data used here is two times the semi-annual (Mar. 2024) 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.

WORK Medical Technology Group Asset Turnover Related Terms

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WORK Medical Technology Group Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » WORK Medical Technology Group Ltd (NAS:WOK) » Definitions » Asset Turnover
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Traded in Other Exchanges
N/A
Address
Floor 23, No. 2 Tonghuinan Road, Xiaoshan District, Zhejiang Province, Hangzhou, CHN
Website
WORK Medical Technology Group Ltd is a manufacturer of medical devices, and it is committed to providing professional and reliable medical devices to the world.