Total Asset Turnover
since 2008
Calculation
Activision Blizzard Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net revenues1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 0.27 | = | 7,528) | ÷ | 27,383) |
| Dec 31, 2021 | 0.35 | = | 8,803) | ÷ | 25,056) |
| Dec 31, 2020 | 0.35 | = | 8,086) | ÷ | 23,109) |
| Dec 31, 2019 | 0.33 | = | 6,489) | ÷ | 19,845) |
| Dec 31, 2018 | 0.42 | = | 7,500) | ÷ | 17,835) |
| Dec 31, 2017 | 0.38 | = | 7,017) | ÷ | 18,668) |
| Dec 31, 2016 | 0.38 | = | 6,608) | ÷ | 17,452) |
| Dec 31, 2015 | 0.31 | = | 4,664) | ÷ | 15,251) |
| Dec 31, 2014 | 0.30 | = | 4,408) | ÷ | 14,746) |
| Dec 31, 2013 | 0.33 | = | 4,583) | ÷ | 14,012) |
| Dec 31, 2012 | 0.34 | = | 4,856) | ÷ | 14,200) |
| Dec 31, 2011 | 0.36 | = | 4,755) | ÷ | 13,277) |
| Dec 31, 2010 | 0.33 | = | 4,447) | ÷ | 13,406) |
| Dec 31, 2009 | 0.31 | = | 4,279) | ÷ | 13,742) |
| Dec 31, 2008 | 0.21 | = | 3,026) | ÷ | 14,701) |
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
The financial performance from 2008 to 2022 exhibits a complex relationship between revenue growth and asset accumulation, reflected in the fluctuations of the total asset turnover ratio. While net revenues increased from 3,026 million US dollars in 2008 to 7,528 million US dollars in 2022, total assets grew at a more aggressive pace, nearly doubling from 14,701 million US dollars to 27,383 million US dollars over the same period. This imbalance led to a volatile asset turnover ratio that peaked in 2018 before trending downward.
- Initial Efficiency Gains (2008–2012)
- A period of significant improvement in asset utilization is observed between 2008 and 2012. The total asset turnover ratio rose from 0.21 to 0.36, driven by a substantial increase in net revenues, which grew by approximately 60% while total assets remained relatively stable or declined slightly during the first few years of this interval.
- Peak Operational Efficiency (2013–2018)
- Following a period of stabilization between 2013 and 2015, a second surge in efficiency occurred. The ratio reached its maximum value of 0.42 in 2018. This peak was supported by a strong increase in net revenues, which climbed from 4,664 million US dollars in 2015 to 7,500 million US dollars in 2018, outpacing the growth of the asset base during those specific years.
- Asset Expansion and Ratio Compression (2019–2022)
- A downward trend in asset turnover is evident starting in 2019, concluding at 0.27 in 2022. Although net revenues reached an all-time high of 8,803 million US dollars in 2021, the ratio declined because total assets expanded rapidly, increasing from 17,835 million US dollars in 2018 to 27,383 million US dollars by 2022. The sharp decline in 2022 is attributed to a simultaneous decrease in net revenues and a continued increase in the total asset base, indicating a reduction in the efficiency of asset utilization relative to revenue generation.
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Comparison to Competitors
Activision Blizzard Inc., total asset turnover, long-term trends, comparison to competitors
| Activision Blizzard Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Dec 31, 2022 | 0.27 | 0.77 | 0.47 | 0.63 | 0.65 | 0.41 |
| Dec 31, 2021 | 0.35 | 0.72 | 0.42 | 0.71 | 0.67 | 0.33 |
| Dec 31, 2020 | 0.35 | 0.57 | 0.38 | 0.54 | 0.64 | 0.32 |
| Dec 31, 2019 | 0.33 | 0.59 | 0.41 | 0.53 | 0.59 | 0.36 |
| Dec 31, 2018 | 0.42 | 0.59 | 0.38 | 0.57 | 0.61 | 0.60 |
| Dec 31, 2017 | 0.38 | 0.56 | 0.45 | 0.48 | 0.61 | 0.58 |
| Dec 31, 2016 | 0.38 | 0.54 | 0.45 | 0.43 | 0.65 | 0.60 |
| Dec 31, 2015 | 0.31 | 0.51 | 0.45 | 0.36 | 0.66 | 0.59 |
| Dec 31, 2014 | 0.30 | 0.50 | 0.43 | 0.31 | 0.78 | 0.58 |
| Dec 31, 2013 | 0.33 | 0.54 | 0.41 | 0.44 | 0.81 | 0.55 |
| Dec 31, 2012 | 0.34 | 0.53 | 0.38 | 0.34 | 0.91 | 0.56 |
| Dec 31, 2011 | 0.36 | 0.52 | 0.35 | — | 1.04 | 0.57 |
| Dec 31, 2010 | 0.33 | 0.51 | 0.32 | — | 2.20 | 0.55 |
| Dec 31, 2009 | 0.31 | 0.58 | 0.32 | — | 2.46 | 0.57 |
| Dec 31, 2008 | 0.21 | 0.69 | 0.30 | — | 2.21 | 0.61 |
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).
Comparison to Sector (Media & Entertainment)
Activision Blizzard Inc., total asset turnover, long-term trends, comparison to sector (media & entertainment)
| Activision Blizzard Inc. | Media & Entertainment | |
|---|---|---|
| Dec 31, 2022 | 0.27 | 0.60 |
| Dec 31, 2021 | 0.35 | 0.56 |
| Dec 31, 2020 | 0.35 | 0.47 |
| Dec 31, 2019 | 0.33 | 0.48 |
| Dec 31, 2018 | 0.42 | 0.51 |
| Dec 31, 2017 | 0.38 | 0.52 |
| Dec 31, 2016 | 0.38 | 0.51 |
| Dec 31, 2015 | 0.31 | 0.49 |
| Dec 31, 2014 | 0.30 | 0.48 |
| Dec 31, 2013 | 0.33 | 0.49 |
| Dec 31, 2012 | 0.34 | 0.46 |
| Dec 31, 2011 | 0.36 | 0.45 |
| Dec 31, 2010 | 0.33 | 0.44 |
| Dec 31, 2009 | 0.31 | 0.45 |
| Dec 31, 2008 | 0.21 | 0.46 |
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).
Comparison to Industry (Communication Services)
Activision Blizzard Inc., total asset turnover, long-term trends, comparison to industry (communication services)
| Activision Blizzard Inc. | Communication Services | |
|---|---|---|
| Dec 31, 2022 | 0.27 | 0.47 |
| Dec 31, 2021 | 0.35 | 0.45 |
| Dec 31, 2020 | 0.35 | 0.41 |
| Dec 31, 2019 | 0.33 | 0.43 |
| Dec 31, 2018 | 0.42 | 0.45 |
| Dec 31, 2017 | 0.38 | 0.46 |
| Dec 31, 2016 | 0.38 | 0.48 |
| Dec 31, 2015 | 0.31 | 0.46 |
| Dec 31, 2014 | 0.30 | 0.49 |
| Dec 31, 2013 | 0.33 | 0.47 |
| Dec 31, 2012 | 0.34 | 0.48 |
| Dec 31, 2011 | 0.36 | 0.47 |
| Dec 31, 2010 | 0.33 | 0.46 |
| Dec 31, 2009 | 0.31 | 0.46 |
| Dec 31, 2008 | 0.21 | 0.47 |
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).