Norris Industries (Norris Industries) Total Assets : $0.46 Mil (As of Feb. 2024)

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What is Norris Industries Total Assets?

Norris Industries's Total Assets for the quarter that ended in Feb. 2024 was $0.46 Mil.

During the past 12 months, Norris Industries's average Total Assets Growth Rate was 117.20% per year. During the past 3 years, the average Total Assets Growth Rate was 16.90% per year. During the past 5 years, the average Total Assets Growth Rate was -31.40% per year.

During the past 10 years, Norris Industries's highest 3-Year average Total Assets Growth Rate was 215.70%. The lowest was -55.00%. And the median was -12.20%.

Total Assets is connected with ROA %. Norris Industries's annualized ROA % for the quarter that ended in Feb. 2024 was -237.08%. Total Assets is also linked to Revenue through Asset Turnover. Norris Industries's Asset Turnover for the quarter that ended in Feb. 2024 was 0.24.

Norris Industries Total Assets Historical Data

The historical data trend for Norris Industries'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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Norris Industries Total Assets Chart

Norris Industries Annual Data

Trend

Feb15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Total Assets

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0.86

0.41

0.39

0.34

0.46

Norris Industries Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Total Assets	Get a 7-Day Free Trial															0.34	0.23	0.27	0.20	0.46

Norris Industries 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.

Norris Industries's Total Assets for the fiscal year that ended in Feb. 2024 is calculated as

Total Assets	=	Total Equity (A: Feb. 2024 )	+	Total Liabilities (A: Feb. 2024 )
	=	-4.934	+	5.392
	=	0.46

Norris Industries's Total Assets for the quarter that ended in Feb. 2024 is calculated as

Total Assets	=	Total Equity (Q: Feb. 2024 )	+	Total Liabilities (Q: Feb. 2024 )
	=	-4.934	+	5.392
	=	0.46

Norris Industries (OTCPK:NRIS) Total Assets Explanation

Total Assets is connected with ROA %.

Norris Industries's annualized ROA % for the quarter that ended in Feb. 2024 is

ROA %	=	Net Income (Q: Feb. 2024 )	/	( (Total Assets (Q: Nov. 2023 )	+	Total Assets (Q: Feb. 2024 ))	/ count )
	=	-0.78	/	( (0.2	+	0.458)	/ 2 )
	=	-0.78	/	0.329
	=	-237.08 %

Note: The Net Income data used here is four times the quarterly (Feb. 2024) 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.

Norris Industries's Asset Turnover for the quarter that ended in Feb. 2024 is

	Asset Turnover
=	Revenue (Q: Feb. 2024 )	/	( (Total Assets (Q: Nov. 2023 )	+	Total Assets (Q: Feb. 2024 ))	/ count )
=	0.079	/	( (0.2	+	0.458)	/ 2 )
=	0.079	/	0.329
=	0.24

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.

Norris Industries Total Assets Related Terms

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Norris Industries (Norris Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Norris Industries Inc (OTCPK:NRIS) » Definitions » Total Assets

Comparable Companies

Traded in Other Exchanges

N/A

Address

102 Palo Pinto Street, Suite B, Weatherford, TX, USA, 76086

Website

http://www.iwpetroleum.com

Norris Industries Inc is an oil and gas exploration company managed by business and oil and gas exploration veterans specializing in the oil and gas acquisition and exploration markets of the Central West Texas region. The company is engaged in the acquisition, development, and exploration of crude oil and natural gas properties. Its projects include Dawson in Permian Basin, Bend Arch Tiger in Central West Texas, Guadalupe in South Texas, Bend Arch Lion 1A, and Bend Arch Lion 1B in Central West Texas, and Marshall Walden in East Texas.

Executives

Patrick L. Norris	director, 10 percent owner, officer: CEO, Pres, Sec, Treasurer	409 TERRELL CRT, NEW IBERIA LA 90563
Ross Henry Ramsey	director, officer: President, CEO, CFO	401 BOYD DR #3116, GRAPEVINE TX 76051
Benjamin B Tran	director	49 MONTEREY PINE DR., NEWPORT COAST CA 92657

Norris Industries (Norris Industries) Headlines

From GuruFocus

Norris Industries Releases Shareholder Update with Expansion Plan

By Marketwired Marketwired • 07-24-2019