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Activision Blizzard Inc. pages available for free this week:
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2008
- Current Ratio since 2008
- Analysis of Debt
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Calculation
Operating profit margin | = | 100 | × | Operating income (loss)1 | ÷ | Net revenues1 | |
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Dec 31, 2022 | = | 100 | × | ÷ | |||
Dec 31, 2021 | = | 100 | × | ÷ | |||
Dec 31, 2020 | = | 100 | × | ÷ | |||
Dec 31, 2019 | = | 100 | × | ÷ | |||
Dec 31, 2018 | = | 100 | × | ÷ | |||
Dec 31, 2017 | = | 100 | × | ÷ | |||
Dec 31, 2016 | = | 100 | × | ÷ | |||
Dec 31, 2015 | = | 100 | × | ÷ | |||
Dec 31, 2014 | = | 100 | × | ÷ | |||
Dec 31, 2013 | = | 100 | × | ÷ | |||
Dec 31, 2012 | = | 100 | × | ÷ | |||
Dec 31, 2011 | = | 100 | × | ÷ | |||
Dec 31, 2010 | = | 100 | × | ÷ | |||
Dec 31, 2009 | = | 100 | × | ÷ | |||
Dec 31, 2008 | = | 100 | × | ÷ |
Based on: 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
1 US$ in millions
- Operating Income (Loss) Trend
- The operating income transitioned from a significant loss of US$233 million in 2008 to a positive value by 2010, reaching US$469 million. This upward trajectory continued, peaking at US$3,259 million in 2021. However, in 2022, the operating income decreased substantially to US$1,670 million. Overall, the data exhibits strong growth in operating income over the period, with notable volatility in the most recent year.
- Net Revenues Pattern
- Net revenues showed a general upward trend from US$3,026 million in 2008 to a peak of US$8,803 million in 2021. There was a consistent increase especially from 2015 onwards, indicating expanding sales or service income. Nevertheless, 2022 saw a decline to US$7,528 million, representing a reversal after several years of revenue growth.
- Operating Profit Margin Evolution
- The operating profit margin improved dramatically from a negative margin of -7.7% in 2008 to positive double digits by 2010, hitting 10.55%. It further increased to consistently exceed 20% from 2010 onward, reaching an all-time high of 37.02% in 2021. The margin dropped to 22.18% in 2022, indicating reduced profitability relative to revenue in that year compared to previous peaks.
- Overall Observations
- The company demonstrated significant operational improvement over the analyzed period, transitioning from losses to strong profitability. Revenue growth was steady with notable acceleration post-2015. Operating margins reflected improved efficiency and cost control but exhibited sensitivity to recent market or operational conditions as seen in the declines in 2022 figures. The dip in 2022 across operating income, revenues, and margins suggests potential challenges or a market contraction during that year.
Comparison to Competitors
Activision Blizzard Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Take-Two Interactive Software Inc. | |
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Based on: 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).