22nd Century Group (NAS:XXII) Asset Turnover

: 0.15 (As of Dec. 2022)

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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. 22nd Century Group's Revenue for the three months ended in Dec. 2022 was $19.21 Mil. 22nd Century Group's Total Assets for the quarter that ended in Dec. 2022 was $128.41 Mil. Therefore, 22nd Century Group's Asset Turnover for the quarter that ended in Dec. 2022 was 0.15.

Asset Turnover is linked to ROE % through Du Pont Formula. 22nd Century Group's annualized ROE % for the quarter that ended in Dec. 2022 was -96.87%. It is also linked to ROA % through Du Pont Formula. 22nd Century Group's annualized ROA % for the quarter that ended in Dec. 2022 was -81.87%.

22nd Century Group Asset Turnover Historical Data

The historical data trend for 22nd Century 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.

22nd Century Group Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Asset Turnover

0.34

0.35

0.47

0.49

0.65

22nd Century Group Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22
Asset Turnover																0.10	0.13	0.16	0.15	0.15

Competitive Comparison

For the Tobacco subindustry, 22nd Century 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.

Annual Data Quarterly Data

22nd Century Group Asset Turnover Distribution

For the Tobacco Products industry and Consumer Defensive sector, 22nd Century Group's Asset Turnover distribution charts can be found below:

* The bar in red indicates where 22nd Century Group'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.

22nd Century Group Asset Turnover Calculation

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

22nd Century 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 )
=	62.111	/	( (75.954	+	114.651)	/ 2 )
=	62.111	/	95.3025
=	0.65

22nd Century Group's Asset Turnover for the quarter that ended in Dec. 2022 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (Q: Dec. 2022 )	/	( (Total Assets (Q: Sep. 2022 )	+	Total Assets (Q: Dec. 2022 ))	/ count )
=	19.206	/	( (142.176	+	114.651)	/ 2 )
=	19.206	/	128.4135
=	0.15

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.

22nd Century Group (NAS:XXII) Asset Turnover Explanation

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

22nd Century Group's annulized ROE % for the quarter that ended in Dec. 2022 is

	ROE %^**		(Q: Dec. 2022 )
=	Net Income	/	Total Stockholders Equity
=	-105.132	/	108.5315
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(-105.132 / 76.824)	*	(76.824 / 128.4135)	*	(128.4135/ 108.5315)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	-136.85 %	*	0.5983	*	1.1832
=	ROA %	*	Equity Multiplier
=	-81.87 %	*	1.1832
=	-96.87 %

Note: The Net Income data used here is four times the quarterly (Dec. 2022) net income data. The Revenue data used here is four times the quarterly (Dec. 2022) 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:

22nd Century Group's annulized ROA % for the quarter that ended in Dec. 2022 is

	ROA %		(Q: Dec. 2022 )
=	Net Income	/	Total Assets
=	-105.132	/	128.4135
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(-105.132 / 76.824)	*	(76.824 / 128.4135)
=	Net Margin %	*	Asset Turnover
=	-136.85 %	*	0.5983
=	-81.87 %

Note: The Net Income data used here is four times the quarterly (Dec. 2022) net income data. The Revenue data used here is four times the quarterly (Dec. 2022) 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.

22nd Century Group Asset Turnover Related Terms

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22nd Century Group (NAS:XXII) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Tobacco Products » 22nd Century Group Inc (NAS:XXII) » Definitions » Asset Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

500 Seneca Street, Suite 507, Buffalo, NY, USA, 14204

Website

https://www.xxiicentury.com

22nd Century Group Inc is a US-based plant biotechnology company. It focuses on developing technology that allows the increase or decrease in the level of nicotine and other nicotinic alkaloids in tobacco plants and levels of cannabinoids in cannabis plants through genetic engineering and plant breeding. The company is engaged in the research and development of potentially less harmful or modified risk tobacco products and novel tobacco plant varieties. Other business activities of the company include manufacture, marketing, sales, and distribution of SPECTRUM and VLN proprietary cigarettes, contract manufacturing of third-party branded tobacco products, research and development of plant varieties of hemp/cannabis, the sale of branded proprietary tobaccos, and among others.

Executives

John J Miller	officer: President, Tobacco	500 SENECA STREET, SUITE 507, BUFFALO NY 14204
Lucille S Salhany	director	C/O HEWLETT-PACKARD CO, 3000 HANOVER STREET, PALO ALTO CA 94304
Robert Hugh Kinsman	officer: Chief Financial Officer	500 SENECA STREET, SUITE 507, BUFFALO NY 14204
Clifford B Fleet	director	6601 WEST BROAD STREET, RICHMOND VA 23230
Richard F Fitzgerald	officer: Chief Financial Officer	C/O TECHPRECISION CORPORATION, ONE BELLA DRIVE, WESTMINSTER MA 01473
Anthony L. Johnson	director	C/O 22ND CENTURY GROUP, INC., 500 SENECA STREET, SUITE 507, BUFFALO NY 14204
Michael Koganov	director	8560 MAIN STREET, SUITE 4, WILLIAMSVILLE NY 14221
James A Mish	officer: Chief Executive Officer	8560 MAIN STREET, SUITE 4, WILLIAMSVILLE NY 14221
John Franzino	officer: CFO	8560 MAIN STREET, SUITE 4, WILLIAMSVILLE NY 14221
Roger D O'brien	director	C/O 22ND CENTURY GROUP, INC., 8560 MAIN STREET, SUITE 4, WILLIAMSVILLE NY 14221
Andrea S Jentsch	officer: Chief Financial Officer	8560 MAIN STREET, SUITE 4, WILLIAMSVILLE NY 14221
Michael Zercher	officer: Chief Operating Officer	8560 MAIN STREET, SUITE 4, WILLIAMSVILLE NY 14221
James E. Swauger	officer: Senior VP-Science & Regulatory	C/O 22ND CENTURY GROUP, INC., 9530 MAIN STREET, CLARENCE NY 14031
Paul Rushton	officer: VP of Plant Biotechnology	C/O 22ND CENTURY GROUP, INC., 9530 MAIN STREET, CLARENCE NY 14031
Nora B Sullivan	director	C/O RAND CAPITAL CORP, 2200 RAND BLDG, BUFFALO NY 14203