Stock Analysis on Net

CSX Corp. (NASDAQ:CSX)

This company has been moved to the archive! The financial data has not been updated since April 20, 2023.

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Short-term Activity Ratios (Summary)
Inventory Turnover
Receivables Turnover
Payables Turnover
Working Capital Turnover
Average Inventory Processing Period
Average Receivable Collection Period
Operating Cycle
Average Payables Payment Period
Cash Conversion Cycle

Short-term Activity Ratios (Summary)

CSX Corp., short-term (operating) activity ratios (quarterly data)

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Turnover Ratios
	Inventory turnover	38.44		43.56	39.86	36.80	37.38		36.94	39.34	39.02	35.37		35.04	42.07	44.61	45.83		45.74	51.89	55.61	51.40
	Receivables turnover	11.00		11.31	9.92	9.37	10.28		10.91	8.99	9.46	11.01		11.60	10.86	12.76	11.69		12.11	11.08	11.11	11.20
	Payables turnover	12.59		13.14	12.63	13.22	12.50		13.00	12.26	12.83	12.27		13.08	10.21	11.43	11.13		11.44	11.08	12.48	12.16
	Working capital turnover	14.65		10.78	8.07	35.67	11.10		7.64	7.32	4.30	4.21		4.37	5.50	7.60	7.32		10.59	10.56	10.90	7.98
	Average No. Days
	Average inventory processing period	9		8	9	10	10		10	9	9	10		10	9	8	8		8	7	7	7
	Add: Average receivable collection period	33		32	37	39	36		33	41	39	33		31	34	29	31		30	33	33	33
	Operating cycle	42		40	46	49	46		43	50	48	43		41	43	37	39		38	40	40	40
	Less: Average payables payment period	29		28	29	28	29		28	30	28	30		28	36	32	33		32	33	29	30
	Cash conversion cycle	13		12	17	21	17		15	20	20	13		13	7	5	6		6	7	11	10

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Turnover Ratios

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Average No. Days

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Inventory Turnover

CSX Corp., inventory turnover calculation (quarterly data)

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Selected Financial Data (US$ in millions)
	Revenue	3,706)		3,730)	3,895)	3,815)	3,413)		3,427)	3,292)	2,990)	2,813)		2,825)	2,648)	2,255)	2,855)		2,885)	2,978)	3,061)	3,013)
	Materials and supplies	394)		341)	365)	379)	351)		339)	303)	289)	298)		302)	253)	246)	257)		261)	235)	222)	241)
	Short-term Activity Ratio
	Inventory turnover¹	38.44		43.56	39.86	36.80	37.38		36.94	39.34	39.02	35.37		35.04	42.07	44.61	45.83		45.74	51.89	55.61	51.40
	Benchmarks
	Inventory Turnover, Competitors²
	FedEx Corp.	146.45		146.80	150.05	150.76	150.16		143.03	135.08	127.31	120.56		—	—	—	—		—	—	—	—
	Union Pacific Corp.	34.44		33.57	30.77	29.66	31.22		35.11	31.95	29.89	29.29		—	—	—	—		—	—	—	—
	United Airlines Holdings Inc.	40.82		40.54	36.51	30.89	27.13		25.06	20.79	16.00	11.54		—	—	—	—		—	—	—	—

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

¹ Q1 2023 Calculation
Inventory turnover = (Revenue_{Q1 2023} + Revenue_{Q4 2022} + Revenue_{Q3 2022} + Revenue_{Q2 2022}) ÷ Materials and supplies
= (3,706 + 3,730 + 3,895 + 3,815) ÷ 394 = 38.44

² Click competitor name to see calculations.

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Receivables Turnover

CSX Corp., receivables turnover calculation (quarterly data)

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Selected Financial Data (US$ in millions)
	Revenue	3,706)		3,730)	3,895)	3,815)	3,413)		3,427)	3,292)	2,990)	2,813)		2,825)	2,648)	2,255)	2,855)		2,885)	2,978)	3,061)	3,013)
	Accounts receivable, net	1,377)		1,313)	1,467)	1,489)	1,277)		1,148)	1,326)	1,192)	957)		912)	980)	860)	1,008)		986)	1,101)	1,111)	1,106)
	Short-term Activity Ratio
	Receivables turnover¹	11.00		11.31	9.92	9.37	10.28		10.91	8.99	9.46	11.01		11.60	10.86	12.76	11.69		12.11	11.08	11.11	11.20
	Benchmarks
	Receivables Turnover, Competitors²
	FedEx Corp.	8.57		7.88	7.86	7.34	7.79		6.96	6.86	6.55	6.80		—	—	—	—		—	—	—	—
	Uber Technologies Inc.	13.16		11.47	11.77	10.39	8.65		7.16	11.13	10.67	10.04		—	—	—	—		—	—	—	—
	Union Pacific Corp.	12.82		13.15	11.90	11.42	11.57		12.66	12.63	12.34	11.99		—	—	—	—		—	—	—	—
	United Airlines Holdings Inc.	21.47		24.96	20.03	16.07	14.05		14.81	11.62	8.14	7.63		—	—	—	—		—	—	—	—
	United Parcel Service Inc.	9.60		7.97	9.21	8.78	8.82		7.76	9.01	9.12	8.84		—	—	—	—		—	—	—	—

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

¹ Q1 2023 Calculation
Receivables turnover = (Revenue_{Q1 2023} + Revenue_{Q4 2022} + Revenue_{Q3 2022} + Revenue_{Q2 2022}) ÷ Accounts receivable, net
= (3,706 + 3,730 + 3,895 + 3,815) ÷ 1,377 = 11.00

² Click competitor name to see calculations.

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Payables Turnover

CSX Corp., payables turnover calculation (quarterly data)

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Selected Financial Data (US$ in millions)
	Revenue	3,706)		3,730)	3,895)	3,815)	3,413)		3,427)	3,292)	2,990)	2,813)		2,825)	2,648)	2,255)	2,855)		2,885)	2,978)	3,061)	3,013)
	Accounts payable	1,203)		1,130)	1,152)	1,055)	1,050)		963)	972)	879)	859)		809)	1,042)	960)	1,058)		1,043)	1,101)	989)	1,019)
	Short-term Activity Ratio
	Payables turnover¹	12.59		13.14	12.63	13.22	12.50		13.00	12.26	12.83	12.27		13.08	10.21	11.43	11.13		11.44	11.08	12.48	12.16
	Benchmarks
	Payables Turnover, Competitors²
	FedEx Corp.	22.74		23.20	21.90	21.37	22.67		21.86	19.74	20.02	21.41		—	—	—	—		—	—	—	—
	Uber Technologies Inc.	29.34		27.00	22.55	18.17	13.53		10.87	24.80	15.26	23.16		—	—	—	—		—	—	—	—
	United Airlines Holdings Inc.	12.65		13.24	11.53	9.49	9.77		9.62	9.03	6.58	5.77		—	—	—	—		—	—	—	—
	United Parcel Service Inc.	15.69		13.36	15.02	13.96	14.04		12.93	14.65	14.09	14.20		—	—	—	—		—	—	—	—

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

¹ Q1 2023 Calculation
Payables turnover = (Revenue_{Q1 2023} + Revenue_{Q4 2022} + Revenue_{Q3 2022} + Revenue_{Q2 2022}) ÷ Accounts payable
= (3,706 + 3,730 + 3,895 + 3,815) ÷ 1,203 = 12.59

² Click competitor name to see calculations.

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Working Capital Turnover

CSX Corp., working capital turnover calculation (quarterly data)

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Selected Financial Data (US$ in millions)
	Current assets	3,355)		3,849)	4,310)	2,784)	3,757)		3,873)	3,897)	4,573)	4,305)		4,441)	4,228)	3,791)	3,821)		3,278)	3,960)	3,186)	3,479)
	Less: Current liabilities	2,321)		2,471)	2,508)	2,393)	2,575)		2,233)	2,268)	1,951)	1,800)		2,019)	2,294)	2,347)	2,211)		2,151)	2,805)	2,053)	1,926)
	Working capital	1,034)		1,378)	1,802)	391)	1,182)		1,640)	1,629)	2,622)	2,505)		2,422)	1,934)	1,444)	1,610)		1,127)	1,155)	1,133)	1,553)

	Revenue	3,706)		3,730)	3,895)	3,815)	3,413)		3,427)	3,292)	2,990)	2,813)		2,825)	2,648)	2,255)	2,855)		2,885)	2,978)	3,061)	3,013)
	Short-term Activity Ratio
	Working capital turnover¹	14.65		10.78	8.07	35.67	11.10		7.64	7.32	4.30	4.21		4.37	5.50	7.60	7.32		10.59	10.56	10.90	7.98
	Benchmarks
	Working Capital Turnover, Competitors²
	FedEx Corp.	16.22		15.35	16.74	13.05	13.06		12.13	9.67	8.17	9.27		—	—	—	—		—	—	—	—
	Uber Technologies Inc.	65.98		80.50	83.47	—	1,646.62		—	9.53	129.39	10.72		—	—	—	—		—	—	—	—
	Union Pacific Corp.	—		—	—	—	—		—	—	—	—		—	—	—	—		—	—	—	—
	United Airlines Holdings Inc.	—		681.14	58.21	38.43	35.17		6.98	3.24	2.21	5.72		—	—	—	—		—	—	—	—
	United Parcel Service Inc.	18.10		24.61	14.61	12.16	11.27		13.21	12.81	14.87	19.13		—	—	—	—		—	—	—	—

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

¹ Q1 2023 Calculation
Working capital turnover = (Revenue_{Q1 2023} + Revenue_{Q4 2022} + Revenue_{Q3 2022} + Revenue_{Q2 2022}) ÷ Working capital
= (3,706 + 3,730 + 3,895 + 3,815) ÷ 1,034 = 14.65

² Click competitor name to see calculations.

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Average Inventory Processing Period

CSX Corp., average inventory processing period calculation (quarterly data)

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Selected Financial Data
	Inventory turnover	38.44		43.56	39.86	36.80	37.38		36.94	39.34	39.02	35.37		35.04	42.07	44.61	45.83		45.74	51.89	55.61	51.40
	Short-term Activity Ratio (no. days)
	Average inventory processing period¹	9		8	9	10	10		10	9	9	10		10	9	8	8		8	7	7	7
	Benchmarks (no. days)
	Average Inventory Processing Period, Competitors²
	FedEx Corp.	2		2	2	2	2		3	3	3	3		—	—	—	—		—	—	—	—
	Union Pacific Corp.	11		11	12	12	12		10	11	12	12		—	—	—	—		—	—	—	—
	United Airlines Holdings Inc.	9		9	10	12	13		15	18	23	32		—	—	—	—		—	—	—	—

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

¹ Q1 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 38.44 = 9

² Click competitor name to see calculations.

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Average Receivable Collection Period

CSX Corp., average receivable collection period calculation (quarterly data)

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Selected Financial Data
	Receivables turnover	11.00		11.31	9.92	9.37	10.28		10.91	8.99	9.46	11.01		11.60	10.86	12.76	11.69		12.11	11.08	11.11	11.20
	Short-term Activity Ratio (no. days)
	Average receivable collection period¹	33		32	37	39	36		33	41	39	33		31	34	29	31		30	33	33	33
	Benchmarks (no. days)
	Average Receivable Collection Period, Competitors²
	FedEx Corp.	43		46	46	50	47		52	53	56	54		—	—	—	—		—	—	—	—
	Uber Technologies Inc.	28		32	31	35	42		51	33	34	36		—	—	—	—		—	—	—	—
	Union Pacific Corp.	28		28	31	32	32		29	29	30	30		—	—	—	—		—	—	—	—
	United Airlines Holdings Inc.	17		15	18	23	26		25	31	45	48		—	—	—	—		—	—	—	—
	United Parcel Service Inc.	38		46	40	42	41		47	40	40	41		—	—	—	—		—	—	—	—

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

¹ Q1 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 11.00 = 33

² Click competitor name to see calculations.

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Operating Cycle

CSX Corp., operating cycle calculation (quarterly data)

No. days

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Selected Financial Data
	Average inventory processing period	9		8	9	10	10		10	9	9	10		10	9	8	8		8	7	7	7
	Average receivable collection period	33		32	37	39	36		33	41	39	33		31	34	29	31		30	33	33	33
	Short-term Activity Ratio
	Operating cycle¹	42		40	46	49	46		43	50	48	43		41	43	37	39		38	40	40	40
	Benchmarks
	Operating Cycle, Competitors²
	FedEx Corp.	45		48	48	52	49		55	56	59	57		—	—	—	—		—	—	—	—
	Union Pacific Corp.	39		39	43	44	44		39	40	42	42		—	—	—	—		—	—	—	—
	United Airlines Holdings Inc.	26		24	28	35	39		40	49	68	80		—	—	—	—		—	—	—	—

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

¹ Q1 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 9 + 33 = 42

² Click competitor name to see calculations.

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Average Payables Payment Period

CSX Corp., average payables payment period calculation (quarterly data)

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Selected Financial Data
	Payables turnover	12.59		13.14	12.63	13.22	12.50		13.00	12.26	12.83	12.27		13.08	10.21	11.43	11.13		11.44	11.08	12.48	12.16
	Short-term Activity Ratio (no. days)
	Average payables payment period¹	29		28	29	28	29		28	30	28	30		28	36	32	33		32	33	29	30
	Benchmarks (no. days)
	Average Payables Payment Period, Competitors²
	FedEx Corp.	16		16	17	17	16		17	18	18	17		—	—	—	—		—	—	—	—
	Uber Technologies Inc.	12		14	16	20	27		34	15	24	16		—	—	—	—		—	—	—	—
	United Airlines Holdings Inc.	29		28	32	38	37		38	40	55	63		—	—	—	—		—	—	—	—
	United Parcel Service Inc.	23		27	24	26	26		28	25	26	26		—	—	—	—		—	—	—	—

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

¹ Q1 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 12.59 = 29

² Click competitor name to see calculations.

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Cash Conversion Cycle

CSX Corp., cash conversion cycle calculation (quarterly data)

No. days

		Mar 31, 2023		Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022		Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021		Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020		Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
	Selected Financial Data
	Average inventory processing period	9		8	9	10	10		10	9	9	10		10	9	8	8		8	7	7	7
	Average receivable collection period	33		32	37	39	36		33	41	39	33		31	34	29	31		30	33	33	33
	Average payables payment period	29		28	29	28	29		28	30	28	30		28	36	32	33		32	33	29	30
	Short-term Activity Ratio
	Cash conversion cycle¹	13		12	17	21	17		15	20	20	13		13	7	5	6		6	7	11	10
	Benchmarks
	Cash Conversion Cycle, Competitors²
	FedEx Corp.	29		32	31	35	33		38	38	41	40		—	—	—	—		—	—	—	—
	United Airlines Holdings Inc.	-3		-4	-4	-3	2		2	9	13	17		—	—	—	—		—	—	—	—

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

¹ Q1 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 9 + 33 – 29 = 13

² Click competitor name to see calculations.

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