Analysis of Long-term (Investment) Activity Ratios
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)
Booking Holdings Inc., long-term (investment) activity ratios
Based on: 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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Booking Holdings Inc. net fixed asset turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
| 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). | Booking Holdings Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2018 to 2019 and from 2019 to 2020. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Booking Holdings Inc. total asset turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Booking Holdings Inc. equity turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |
Net Fixed Asset Turnover
Booking Holdings Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 6,796 | 15,066 | 14,527 | 12,681 | 10,743 | |
| Property and equipment, net | 756 | 738 | 656 | 480 | 347 | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 8.99 | 20.41 | 22.14 | 26.41 | 30.96 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Amazon.com Inc. | 3.41 | 3.86 | 3.77 | 3.64 | 4.67 | |
| Home Depot Inc. | 4.84 | 4.84 | 4.57 | 4.32 | 3.99 | |
| Lowe’s Cos. Inc. | 3.86 | 3.87 | 3.48 | 3.26 | 3.02 | |
| Target Corp. | 2.93 | 2.92 | 2.87 | 2.82 | 2.93 | |
| TJX Cos. Inc. | 7.83 | 7.42 | 7.16 | 7.32 | 7.48 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Retailing | 3.71 | 4.06 | 3.91 | 3.76 | 3.97 | |
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Discretionary | 3.32 | 3.63 | 3.58 | 3.53 | 3.84 | |
Based on: 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).
1 2020 Calculation
Net fixed asset turnover = Revenues ÷ Property and equipment, net
= 6,796 ÷ 756 = 8.99
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. | Booking Holdings Inc. net fixed asset turnover ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Booking Holdings Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 6,796 | 15,066 | 14,527 | 12,681 | 10,743 | |
| Property and equipment, net | 756 | 738 | 656 | 480 | 347 | |
| Operating lease assets | 529 | 620 | — | — | — | |
| Property and equipment, net (including operating lease, right-of-use asset) | 1,285 | 1,358 | 656 | 480 | 347 | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 5.29 | 11.09 | 22.14 | 26.41 | 30.96 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Amazon.com Inc. | 2.56 | 2.87 | 3.77 | 3.64 | 4.67 | |
| Home Depot Inc. | 3.89 | 4.84 | 4.57 | 4.32 | 3.99 | |
| Lowe’s Cos. Inc. | 3.20 | 3.87 | 3.48 | 3.26 | 3.02 | |
| Target Corp. | 2.70 | 2.71 | 2.87 | 2.82 | 2.93 | |
| TJX Cos. Inc. | 2.90 | 7.42 | 7.16 | 7.32 | 7.48 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Retailing | 2.82 | 3.41 | 3.91 | 3.76 | 3.97 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Consumer Discretionary | 2.59 | 3.11 | 3.58 | 3.53 | 3.84 | |
Based on: 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).
1 2020 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 6,796 ÷ 1,285 = 5.29
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). | Booking Holdings Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2018 to 2019 and from 2019 to 2020. |
Total Asset Turnover
Booking Holdings Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 6,796 | 15,066 | 14,527 | 12,681 | 10,743 | |
| Total assets | 21,874 | 21,402 | 22,687 | 25,451 | 19,839 | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.31 | 0.70 | 0.64 | 0.50 | 0.54 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Amazon.com Inc. | 1.20 | 1.25 | 1.43 | 1.35 | 1.63 | |
| Home Depot Inc. | 2.15 | 2.46 | 2.27 | 2.20 | 2.08 | |
| Lowe’s Cos. Inc. | 1.83 | 2.07 | 1.94 | 1.89 | 1.89 | |
| Target Corp. | 1.80 | 1.80 | 1.84 | 1.86 | 1.83 | |
| TJX Cos. Inc. | 1.73 | 2.72 | 2.55 | 2.58 | 2.69 | |
| Total Asset Turnover, Sector | ||||||
| Retailing | 1.39 | 1.55 | 1.65 | 1.59 | 1.74 | |
| Total Asset Turnover, Industry | ||||||
| Consumer Discretionary | 0.88 | 0.97 | 1.00 | 0.96 | 1.01 | |
Based on: 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).
1 2020 Calculation
Total asset turnover = Revenues ÷ Total assets
= 6,796 ÷ 21,874 = 0.31
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. | Booking Holdings Inc. total asset turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |
Equity Turnover
Booking Holdings Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 6,796 | 15,066 | 14,527 | 12,681 | 10,743 | |
| Stockholders’ equity | 4,893 | 5,933 | 8,785 | 11,261 | 9,820 | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 1.39 | 2.54 | 1.65 | 1.13 | 1.09 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Amazon.com Inc. | 4.13 | 4.52 | 5.35 | 6.42 | 7.05 | |
| Home Depot Inc. | — | — | 69.40 | 21.83 | 14.02 | |
| Lowe’s Cos. Inc. | 36.59 | 19.57 | 11.68 | 10.11 | 7.72 | |
| Target Corp. | 6.52 | 6.59 | 6.14 | 6.34 | 5.69 | |
| TJX Cos. Inc. | 7.01 | 7.72 | 6.97 | 7.36 | 7.18 | |
| Equity Turnover, Sector | ||||||
| Retailing | 6.04 | 6.83 | 6.86 | 6.95 | 6.61 | |
| Equity Turnover, Industry | ||||||
| Consumer Discretionary | 5.02 | 5.95 | 5.65 | 5.35 | 5.08 | |
Based on: 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).
1 2020 Calculation
Equity turnover = Revenues ÷ Stockholders’ equity
= 6,796 ÷ 4,893 = 1.39
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. | Booking Holdings Inc. equity turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |