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Short-term (Operating) Activity Analysis
Difficulty: Beginner
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Ratios (Summary)
Adobe Inc., short-term (operating) activity ratios
Based on: 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20), 10-K (filing date: 2014-01-21).
| Ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Adobe Inc.’s receivables turnover deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Adobe Inc.’s payables turnover declined from 2016 to 2017 and from 2017 to 2018. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Adobe Inc.’s working capital turnover improved from 2016 to 2017 and from 2017 to 2018. |
| Ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Adobe Inc.’s average receivable collection period deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level. |
| 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. | Adobe Inc.’s average payables payment period increased from 2016 to 2017 and from 2017 to 2018. |
Receivables Turnover
Adobe Inc., receivables turnover calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20), 10-K (filing date: 2014-01-21).
2018 Calculations
1 Receivables turnover = Revenue ÷ Trade receivables, net of allowances for doubtful accounts
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Adobe Inc.’s receivables turnover deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level. |
Payables Turnover
Adobe Inc., payables turnover calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20), 10-K (filing date: 2014-01-21).
2018 Calculations
1 Payables turnover = Cost of revenue ÷ Trade payables
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Adobe Inc.’s payables turnover declined from 2016 to 2017 and from 2017 to 2018. |
Working Capital Turnover
Adobe Inc., working capital turnover calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20), 10-K (filing date: 2014-01-21).
2018 Calculations
1 Working capital turnover = Revenue ÷ Working capital
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Adobe Inc.’s working capital turnover improved from 2016 to 2017 and from 2017 to 2018. |
Average Receivable Collection Period
Adobe Inc., average receivable collection period calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20), 10-K (filing date: 2014-01-21).
2018 Calculations
1 Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =
| Ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Adobe Inc.’s average receivable collection period deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level. |
Average Payables Payment Period
Adobe Inc., average payables payment period calculation, comparison to benchmarks
Based on: 10-K (filing date: 2019-01-25), 10-K (filing date: 2018-01-22), 10-K (filing date: 2017-01-20), 10-K (filing date: 2016-01-19), 10-K (filing date: 2015-01-20), 10-K (filing date: 2014-01-21).
2018 Calculations
1 Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =
| 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. | Adobe Inc.’s average payables payment period increased from 2016 to 2017 and from 2017 to 2018. |