Analysis of Short-term (Operating) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Airbnb Inc., short-term (operating) activity ratios
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Airbnb Inc. receivables turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Airbnb Inc. payables turnover ratio increased from 2021 to 2022 and from 2022 to 2023. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Airbnb Inc. working capital turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Airbnb Inc. number of days of payables outstanding decreased from 2021 to 2022 and from 2022 to 2023. |
Receivables Turnover
Airbnb Inc., receivables turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenue | 9,917) | 8,399) | 5,992) | 3,378) | |
| Customer receivables | 249) | 200) | 143) | 190) | |
| Short-term Activity Ratio | |||||
| Receivables turnover1 | 39.83 | 42.00 | 42.04 | 17.80 | |
| Benchmarks | |||||
| Receivables Turnover, Competitors2 | |||||
| Booking Holdings Inc. | 6.57 | 7.67 | 8.07 | 12.85 | |
| Carnival Corp. & plc | 38.84 | 30.81 | 7.76 | 20.49 | |
| Chipotle Mexican Grill Inc. | 85.44 | 80.79 | 75.77 | 57.27 | |
| McDonald’s Corp. | 3.92 | 4.14 | 5.23 | 3.86 | |
| Starbucks Corp. | 30.38 | 27.44 | 30.92 | 26.62 | |
| Receivables Turnover, Sector | |||||
| Consumer Services | 13.82 | 14.03 | 14.01 | 13.06 | |
| Receivables Turnover, Industry | |||||
| Consumer Discretionary | 17.99 | 18.02 | 21.14 | 21.80 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2023 Calculation
Receivables turnover = Revenue ÷ Customer receivables
= 9,917 ÷ 249 = 39.83
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Airbnb Inc. receivables turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Payables Turnover
Airbnb Inc., payables turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Cost of revenue | 1,703) | 1,499) | 1,156) | 876) | |
| Accounts payable | 141) | 137) | 118) | 80) | |
| Short-term Activity Ratio | |||||
| Payables turnover1 | 12.08 | 10.94 | 9.77 | 10.96 | |
| Benchmarks | |||||
| Payables Turnover, Competitors2 | |||||
| Booking Holdings Inc. | 6.14 | 6.82 | 6.91 | 9.25 | |
| Carnival Corp. & plc | 12.26 | 11.20 | 5.84 | 13.21 | |
| Chipotle Mexican Grill Inc. | 36.86 | 35.61 | 35.79 | 40.52 | |
| McDonald’s Corp. | 7.46 | 7.53 | 7.99 | 9.42 | |
| Starbucks Corp. | 16.92 | 16.57 | 17.06 | 18.50 | |
| Payables Turnover, Sector | |||||
| Consumer Services | 10.35 | 10.82 | 10.51 | 14.03 | |
| Payables Turnover, Industry | |||||
| Consumer Discretionary | 5.23 | 4.84 | 4.67 | 4.77 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2023 Calculation
Payables turnover = Cost of revenue ÷ Accounts payable
= 1,703 ÷ 141 = 12.08
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Airbnb Inc. payables turnover ratio increased from 2021 to 2022 and from 2022 to 2023. |
Working Capital Turnover
Airbnb Inc., working capital turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Current assets | 16,509) | 14,861) | 12,386) | 8,916) | |
| Less: Current liabilities | 9,950) | 7,978) | 6,359) | 5,140) | |
| Working capital | 6,559) | 6,883) | 6,027) | 3,777) | |
| Revenue | 9,917) | 8,399) | 5,992) | 3,378) | |
| Short-term Activity Ratio | |||||
| Working capital turnover1 | 1.51 | 1.22 | 0.99 | 0.89 | |
| Benchmarks | |||||
| Working Capital Turnover, Competitors2 | |||||
| Booking Holdings Inc. | 5.77 | 2.33 | 1.59 | 0.77 | |
| Carnival Corp. & plc | — | — | — | 2.98 | |
| Chipotle Mexican Grill Inc. | 16.73 | 34.00 | 14.86 | 10.01 | |
| McDonald’s Corp. | 8.64 | 5.39 | 3.13 | 131.28 | |
| Starbucks Corp. | — | — | 18.11 | 51.17 | |
| Working Capital Turnover, Sector | |||||
| Consumer Services | 29.13 | 8.05 | 3.65 | 3.43 | |
| Working Capital Turnover, Industry | |||||
| Consumer Discretionary | 16.27 | 19.61 | 11.06 | 13.40 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2023 Calculation
Working capital turnover = Revenue ÷ Working capital
= 9,917 ÷ 6,559 = 1.51
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Airbnb Inc. working capital turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Average Receivable Collection Period
Airbnb Inc., average receivable collection period calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Selected Financial Data | |||||
| Receivables turnover | 39.83 | 42.00 | 42.04 | 17.80 | |
| Short-term Activity Ratio (no. days) | |||||
| Average receivable collection period1 | 9 | 9 | 9 | 21 | |
| Benchmarks (no. days) | |||||
| Average Receivable Collection Period, Competitors2 | |||||
| Booking Holdings Inc. | 56 | 48 | 45 | 28 | |
| Carnival Corp. & plc | 9 | 12 | 47 | 18 | |
| Chipotle Mexican Grill Inc. | 4 | 5 | 5 | 6 | |
| McDonald’s Corp. | 93 | 88 | 70 | 95 | |
| Starbucks Corp. | 12 | 13 | 12 | 14 | |
| Average Receivable Collection Period, Sector | |||||
| Consumer Services | 26 | 26 | 26 | 28 | |
| Average Receivable Collection Period, Industry | |||||
| Consumer Discretionary | 20 | 20 | 17 | 17 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 39.83 = 9
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. |
Average Payables Payment Period
Airbnb Inc., average payables payment period calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Selected Financial Data | |||||
| Payables turnover | 12.08 | 10.94 | 9.77 | 10.96 | |
| Short-term Activity Ratio (no. days) | |||||
| Average payables payment period1 | 30 | 33 | 37 | 33 | |
| Benchmarks (no. days) | |||||
| Average Payables Payment Period, Competitors2 | |||||
| Booking Holdings Inc. | 59 | 54 | 53 | 39 | |
| Carnival Corp. & plc | 30 | 33 | 62 | 28 | |
| Chipotle Mexican Grill Inc. | 10 | 10 | 10 | 9 | |
| McDonald’s Corp. | 49 | 48 | 46 | 39 | |
| Starbucks Corp. | 22 | 22 | 21 | 20 | |
| Average Payables Payment Period, Sector | |||||
| Consumer Services | 35 | 34 | 35 | 26 | |
| Average Payables Payment Period, Industry | |||||
| Consumer Discretionary | 70 | 75 | 78 | 76 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 12.08 = 30
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Airbnb Inc. number of days of payables outstanding decreased from 2021 to 2022 and from 2022 to 2023. |