Stock Analysis on Net

Alphabet Inc. (NASDAQ:GOOG)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Alphabet Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net fixed asset turnover 2.64 2.15 2.20 2.29 2.62
Net fixed asset turnover (including operating lease, right-of-use asset) 2.33 1.88 1.91 2.29 2.62
Total asset turnover 0.72 0.57 0.59 0.59 0.56
Equity turnover 1.02 0.82 0.80 0.77 0.73

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Alphabet Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
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). Alphabet Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Alphabet Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Alphabet Inc. equity turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Net Fixed Asset Turnover

Alphabet Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 257,637 182,527 161,857 136,819 110,855
Property and equipment, net 97,599 84,749 73,646 59,719 42,383
Long-term Activity Ratio
Net fixed asset turnover1 2.64 2.15 2.20 2.29 2.62
Benchmarks
Net Fixed Asset Turnover, Competitors2
Charter Communications Inc. 1.51 1.40 1.32 1.24 1.23
Comcast Corp. 2.15 1.99 2.25 2.13 2.20
Meta Platforms Inc. 2.04 1.88 2.00 2.26 2.96
Netflix Inc. 22.44 26.03 35.66 37.76 36.61
Walt Disney Co. 2.05 2.02 2.19 2.00 1.93
Net Fixed Asset Turnover, Sector
Media & Entertainment 2.30 2.04 2.13 2.09 2.19
Net Fixed Asset Turnover, Industry
Communication Services 1.87 1.70 1.77 1.71 1.71

Based on: 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).

1 2021 Calculation
Net fixed asset turnover = Revenues ÷ Property and equipment, net
= 257,637 ÷ 97,599 = 2.64

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. Alphabet Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

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

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

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 257,637 182,527 161,857 136,819 110,855
 
Property and equipment, net 97,599 84,749 73,646 59,719 42,383
Operating lease assets 12,959 12,211 10,941
Property and equipment, net (including operating lease, right-of-use asset) 110,558 96,960 84,587 59,719 42,383
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 2.33 1.88 1.91 2.29 2.62
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Charter Communications Inc. 1.45 1.35 1.28 1.24 1.23
Comcast Corp. 1.92 1.86 2.08 2.13 2.20
Meta Platforms Inc. 1.69 1.56 1.58 2.26 2.96
Netflix Inc. 7.88 8.34 9.61 37.76 36.61
Walt Disney Co. 1.83 1.81 2.19 2.00 1.93
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Media & Entertainment 2.02 1.81 1.90 2.09 2.19
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Communication Services 1.54 1.41 1.50 1.71 1.71

Based on: 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).

1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 257,637 ÷ 110,558 = 2.33

2 Click competitor name to see calculations.

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). Alphabet Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Total Asset Turnover

Alphabet Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 257,637 182,527 161,857 136,819 110,855
Total assets 359,268 319,616 275,909 232,792 197,295
Long-term Activity Ratio
Total asset turnover1 0.72 0.57 0.59 0.59 0.56
Benchmarks
Total Asset Turnover, Competitors2
Charter Communications Inc. 0.36 0.33 0.31 0.30 0.28
Comcast Corp. 0.42 0.38 0.41 0.38 0.45
Meta Platforms Inc. 0.71 0.54 0.53 0.57 0.48
Netflix Inc. 0.67 0.64 0.59 0.61 0.61
Walt Disney Co. 0.33 0.32 0.36 0.60 0.58
Total Asset Turnover, Sector
Media & Entertainment 0.54 0.45 0.45 0.48 0.47
Total Asset Turnover, Industry
Communication Services 0.44 0.40 0.42 0.44 0.45

Based on: 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).

1 2021 Calculation
Total asset turnover = Revenues ÷ Total assets
= 257,637 ÷ 359,268 = 0.72

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. Alphabet Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Equity Turnover

Alphabet Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Revenues 257,637 182,527 161,857 136,819 110,855
Stockholders’ equity 251,635 222,544 201,442 177,628 152,502
Long-term Activity Ratio
Equity turnover1 1.02 0.82 0.80 0.77 0.73
Benchmarks
Equity Turnover, Competitors2
Charter Communications Inc. 3.68 2.02 1.46 1.20 1.06
Comcast Corp. 1.21 1.15 1.32 1.32 1.23
Meta Platforms Inc. 0.94 0.67 0.70 0.66 0.55
Netflix Inc. 1.87 2.26 2.66 3.01 3.26
Walt Disney Co. 0.76 0.78 0.78 1.22 1.33
Equity Turnover, Sector
Media & Entertainment 1.08 0.91 0.93 0.96 0.91
Equity Turnover, Industry
Communication Services 1.13 1.03 1.06 1.10 1.15

Based on: 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).

1 2021 Calculation
Equity turnover = Revenues ÷ Stockholders’ equity
= 257,637 ÷ 251,635 = 1.02

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Alphabet Inc. equity turnover ratio improved from 2019 to 2020 and from 2020 to 2021.