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New Horizon Aircraft (New Horizon Aircraft) Total Assets : $1.05 Mil (As of May. 2023)


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What is New Horizon Aircraft Total Assets?

New Horizon Aircraft's Total Assets for the quarter that ended in May. 2023 was $1.05 Mil.

During the past 12 months, New Horizon Aircraft's average Total Assets Growth Rate was -2.90% per year.

Total Assets is connected with ROA %. New Horizon Aircraft's annualized ROA % for the quarter that ended in May. 2023 was -88.82%. Total Assets is also linked to Revenue through Asset Turnover. New Horizon Aircraft's Asset Turnover for the quarter that ended in May. 2023 was 0.00.

New Horizon Aircraft Total Assets Historical Data

The historical data trend for New Horizon Aircraft's Total Assets 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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New Horizon Aircraft Total Assets Chart

New Horizon Aircraft Annual Data
Trend May22 May23
Total Assets
0.91 1.05

New Horizon Aircraft Semi-Annual Data
May22 May23
Total Assets 0.91 1.05

New Horizon Aircraft Total Assets Calculation

Total Assets are all the assets a company owns.

From the capital sources of the assets, some of the assets are funded through shareholder's paid in capital and retained earnings of the business. Others are funded through borrowed money.

New Horizon Aircraft's Total Assets for the fiscal year that ended in May. 2023 is calculated as

Total Assets=Total Equity (A: May. 2023 )+Total Liabilities (A: May. 2023 )
=-0.306+1.35
=1.04

New Horizon Aircraft's Total Assets for the quarter that ended in May. 2023 is calculated as

Total Assets=Total Equity (Q: May. 2023 )+Total Liabilities (Q: May. 2023 )
=-0.306+1.35
=1.04

* 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.

New Horizon Aircraft  (NAS:HOVR) Total Assets Explanation

Total Assets is connected with ROA %.

New Horizon Aircraft's annualized ROA % for the quarter that ended in May. 2023 is

ROA %=Net Income (Q: May. 2023 )/( (Total Assets (Q: May. 2022 )+Total Assets (Q: May. 2023 ))/ count )
=-0.866/( (0.905+1.045)/ 2 )
=-0.866/0.975
=-88.82 %

Note: The Net Income data used here is one times the annual (May. 2023) data.

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.

Total Assets is linked to total revenue through Asset Turnover.

New Horizon Aircraft's Asset Turnover for the quarter that ended in May. 2023 is

Asset Turnover
=Revenue (Q: May. 2023 )/( (Total Assets (Q: May. 2022 )+Total Assets (Q: May. 2023 ))/ count )
=0/( (0.905+1.045)/ 2 )
=0/0.975
=0.00

* 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.

Therefore, if a company grows its Total Assets faster than its Revenue, the Asset Turnover will decline. This might be a warning sign for the business.

New Horizon Aircraft Total Assets Related Terms

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New Horizon Aircraft (New Horizon Aircraft) Business Description

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Address
3187 Highway 35, Lindsay, ON, CAN, K9V 4R1
Website
New Horizon Aircraft Ltd is an advanced aerospace Original Equipment Manufacturer that is designing and aiming to build a next-generation hybrid electric vertical take-off and landing aircraft for the regional air mobility market. Its unique aircraft will offer a more efficient way to move people and goods at a regional scale, help to connect remote communities and advance its ability to deal with an increasing number of climate-related natural disasters such as wildfires, Floods and droughts. The company aims to deliver a hybrid electric 7-seat aircraft, called the Cavorite X7, that can take off and land vertically like and helicopter.

New Horizon Aircraft (New Horizon Aircraft) Headlines

From GuruFocus

Horizon Aircraft Provides Corporate Update

By Marketwired • 04-16-2024