Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Activision Blizzard Inc. (NASDAQ:ATVI)

Analysis of Long-term (Investment) Activity Ratios

Beginner level

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)

Activision Blizzard Inc., long-term (investment) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net fixed asset turnover 25.65 26.60 23.87 25.61 24.68
Net fixed asset turnover (including operating lease, right-of-use asset) 13.38 26.60 23.87 25.61 24.68
Total asset turnover 0.33 0.42 0.38 0.38 0.31
Equity turnover 0.51 0.66 0.74 0.72 0.58

Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-29).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Activision Blizzard Inc.’s net fixed asset turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Activision Blizzard Inc.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Activision Blizzard Inc.’s total asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Activision Blizzard Inc.’s equity turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

Net Fixed Asset Turnover

Activision Blizzard Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net revenues 6,489  7,500  7,017  6,608  4,664 
Property and equipment, net 253  282  294  258  189 
Long-term Activity Ratio
Net fixed asset turnover1 25.65 26.60 23.87 25.61 24.68
Benchmarks
Net Fixed Asset Turnover, Industry
Consumer Goods 4.47 4.65 4.63 4.73 4.71

Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-29).

1 2019 Calculation
Net fixed asset turnover = Net revenues ÷ Property and equipment, net
= 6,489 ÷ 253 = 25.65

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Activision Blizzard Inc.’s net fixed asset turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Activision Blizzard Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net revenues 6,489  7,500  7,017  6,608  4,664 
 
Property and equipment, net 253  282  294  258  189 
Operating lease ROU assets (classified in Other assets) 232  —  —  —  — 
Property and equipment, net (including operating lease, right-of-use asset) 485  282  294  258  189 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 13.38 26.60 23.87 25.61 24.68
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Goods 4.20 4.65 4.63 4.73 4.71

Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-29).

1 2019 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 6,489 ÷ 485 = 13.38

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Activision Blizzard Inc.’s net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Total Asset Turnover

Activision Blizzard Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net revenues 6,489  7,500  7,017  6,608  4,664 
Total assets 19,845  17,835  18,668  17,452  15,251 
Long-term Activity Ratio
Total asset turnover1 0.33 0.42 0.38 0.38 0.31
Benchmarks
Total Asset Turnover, Industry
Consumer Goods 0.67 0.66 0.64 0.65 0.67

Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-29).

1 2019 Calculation
Total asset turnover = Net revenues ÷ Total assets
= 6,489 ÷ 19,845 = 0.33

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Activision Blizzard Inc.’s total asset turnover ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.

Equity Turnover

Activision Blizzard Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Net revenues 6,489  7,500  7,017  6,608  4,664 
Shareholders’ equity 12,805  11,357  9,462  9,119  8,068 
Long-term Activity Ratio
Equity turnover1 0.51 0.66 0.74 0.72 0.58
Benchmarks
Equity Turnover, Industry
Consumer Goods 2.33 2.18 1.98 2.05 2.07

Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-29).

1 2019 Calculation
Equity turnover = Net revenues ÷ Shareholders’ equity
= 6,489 ÷ 12,805 = 0.51

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Activision Blizzard Inc.’s equity turnover ratio deteriorated from 2017 to 2018 and from 2018 to 2019.