Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Altria Group Inc., long-term (investment) activity ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net fixed asset turnover | 14.82 | 15.61 | 16.75 | 13.00 | 12.56 | |
| Total asset turnover | 0.63 | 0.68 | 0.66 | 0.55 | 0.51 | |
| Equity turnover | — | — | — | 9.21 | 4.04 |
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), 10-K (reporting date: 2019-12-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Altria Group Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Altria Group Inc. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Net Fixed Asset Turnover
Altria Group Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 24,483) | 25,096) | 26,013) | 26,153) | 25,110) | |
| Property, plant and equipment, net | 1,652) | 1,608) | 1,553) | 2,012) | 1,999) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 14.82 | 15.61 | 16.75 | 13.00 | 12.56 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Coca-Cola Co. | 4.95 | 4.37 | 3.90 | 3.06 | 3.44 | |
| Mondelēz International Inc. | 3.72 | 3.49 | 3.32 | 2.94 | 2.96 | |
| PepsiCo Inc. | 3.38 | 3.56 | 3.55 | 3.29 | 3.48 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | 4.15 | 4.16 | 4.06 | 3.62 | 3.80 | |
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Staples | 5.24 | 5.30 | 5.14 | 4.44 | 4.34 | |
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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Net fixed asset turnover = Net revenues ÷ Property, plant and equipment, net
= 24,483 ÷ 1,652 = 14.82
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Altria Group Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Altria Group Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 24,483) | 25,096) | 26,013) | 26,153) | 25,110) | |
| Total assets | 38,570) | 36,954) | 39,523) | 47,414) | 49,271) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.63 | 0.68 | 0.66 | 0.55 | 0.51 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Coca-Cola Co. | 0.47 | 0.46 | 0.41 | 0.38 | 0.43 | |
| Mondelēz International Inc. | 0.50 | 0.44 | 0.43 | 0.39 | 0.40 | |
| PepsiCo Inc. | 0.91 | 0.94 | 0.86 | 0.76 | 0.86 | |
| Total Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | 0.64 | 0.63 | 0.59 | 0.53 | 0.56 | |
| Total Asset Turnover, Industry | ||||||
| Consumer Staples | 1.55 | 1.50 | 1.40 | 1.31 | 1.37 | |
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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Total asset turnover = Net revenues ÷ Total assets
= 24,483 ÷ 38,570 = 0.63
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Altria Group Inc. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Equity Turnover
Altria Group Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 24,483) | 25,096) | 26,013) | 26,153) | 25,110) | |
| Stockholders’ equity (deficit) attributable to Altria | (3,540) | (3,973) | (1,606) | 2,839) | 6,222) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | — | — | — | 9.21 | 4.04 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Coca-Cola Co. | 1.76 | 1.78 | 1.68 | 1.71 | 1.96 | |
| Mondelēz International Inc. | 1.27 | 1.17 | 1.02 | 0.96 | 0.95 | |
| PepsiCo Inc. | 4.94 | 5.04 | 4.95 | 5.23 | 4.54 | |
| Equity Turnover, Sector | ||||||
| Food, Beverage & Tobacco | 2.86 | 2.90 | 2.63 | 2.47 | 2.31 | |
| Equity Turnover, Industry | ||||||
| Consumer Staples | 5.38 | 5.11 | 4.84 | 4.60 | 4.48 | |
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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Equity turnover = Net revenues ÷ Stockholders’ equity (deficit) attributable to Altria
= 24,483 ÷ -3,540 = —
2 Click competitor name to see calculations.