Gilead Sciences Inc. (GILD)


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

Difficulty: Beginner


Short-term Activity Ratios (Summary)

Gilead Sciences Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Turnover Ratios
Inventory turnover 5.22 5.36 5.96 5.56 5.22 4.99 5.46 3.66 3.04 2.73 2.68 2.24 2.25 2.30 2.05 2.02 1.93 2.02 2.73
Receivables turnover 6.46 6.66 6.52 6.30 6.43 6.43 6.66 6.56 6.26 7.10 6.64 6.14 5.55 5.26 5.49 5.07 5.39 5.59 5.28
Payables turnover 7.48 8.33 6.14 7.83 7.20 6.21 5.37 6.02 5.23 4.26 3.53 4.04 3.73 4.57 3.40 3.23 2.50 3.81 3.97
Working capital turnover 0.89 0.89 0.86 0.88 1.04 1.24 1.27 1.05 1.40 2.18 2.67 3.01 4.04 3.88 2.16 1.87 3.13 2.14 2.05
Average No. Days
Average inventory processing period 70 68 61 66 70 73 67 100 120 134 136 163 162 159 178 181 189 181 134
Add: Average receivable collection period 56 55 56 58 57 57 55 56 58 51 55 59 66 69 66 72 68 65 69
Operating cycle 126 123 117 124 127 130 122 156 178 185 191 222 228 228 244 253 257 246 203
Less: Average payables payment period 49 44 59 47 51 59 68 61 70 86 103 90 98 80 107 113 146 96 92
Cash conversion cycle 77 79 58 77 76 71 54 95 108 99 88 132 130 148 137 140 111 150 111

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory.
Receivables turnover An activity ratio equal to revenue divided by receivables.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Gilead Sciences Inc.’s payables turnover ratio increased from Q4 2018 to Q1 2019 but then slightly declined from Q1 2019 to Q2 2019.
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
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. Gilead Sciences Inc.’s number of days of payables outstanding declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.

Inventory Turnover

Gilead Sciences Inc., inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Cost of goods sold 1,000  957  1,570  1,086  1,196  1,001  1,256  1,032  1,126  957  1,075  1,129  864  1,193  1,062  1,064  998  882  1,063  987  925  813 
Inventories 884  898  814  816  859  885  801  1,144  1,408  1,474  1,587  1,900  1,862  1,880  1,955  1,988  2,039  1,908  1,386  1,910  2,069  2,140 
Short-term Activity Ratio
Inventory turnover1 5.22 5.36 5.96 5.56 5.22 4.99 5.46 3.66 3.04 2.73 2.68 2.24 2.25 2.30 2.05 2.02 1.93 2.02 2.73
Benchmarks
Inventory Turnover, Competitors2
Abbott Laboratories 2.94 3.13 3.35 3.38 3.36 3.23 3.43 3.27 3.00 2.49 3.71 3.41 3.15 3.16 3.37 3.37 3.27 3.44 3.49
AbbVie Inc. 3.89 4.40 4.81 4.47 4.91 4.23 4.39 3.54 3.92 4.26 4.04 3.53 3.08 2.75 2.62 2.25 2.51 4.18 3.94
Allergan PLC 2.33 2.30 2.59 2.44 2.35 2.36 2.40 2.30 2.08 2.03 2.59 2.55 3.55 4.18 4.76 4.84 2.46 1.93 3.04
Amgen Inc. 1.32 1.40 1.39 1.35 1.31 1.36 1.44 1.39 1.39 1.44 1.52 1.55 1.56 1.64 1.74 1.71 1.70 1.63 1.67
Biogen Inc. 2.61 2.56 1.95 2.00 1.87 1.90 1.81 1.49 1.65 1.68 1.48 1.42 1.33 1.29 1.39 1.31 1.38 1.46 1.46
Bristol-Myers Squibb Co. 5.48 5.31 5.48 5.09 5.20 5.19 5.20 4.62 4.53 3.72 3.99 3.05 3.00 3.08 3.20 3.47 2.94 2.65 2.52
Celgene Corp. 1.33 1.34 1.28 1.05 0.90 0.90 0.85 0.85 0.84 0.87 0.88 0.85 0.88 0.90 0.95 0.99 0.98 1.04 0.98
Eli Lilly & Co. 1.70 1.96 1.56 1.57 1.56 1.36 1.36 1.34 1.32 1.40 1.59 1.44 1.44 1.38 1.46 1.43 1.50 1.65 1.80
Johnson & Johnson 2.93 2.98 3.15 3.15 3.14 2.95 2.89 2.48 2.29 2.45 2.66 2.57 2.53 2.64 2.67 2.65 2.64 2.79 2.78
Merck & Co. Inc. 2.29 2.34 2.48 2.52 2.56 2.41 2.51 2.41 2.37 2.59 2.85 2.75 2.81 2.93 3.18 2.90 2.88 2.97 3.01
Pfizer Inc. 1.31 1.38 1.50 1.40 1.43 1.39 1.48 1.41 1.51 1.61 1.82 1.67 1.53 1.41 1.28 1.16 1.57 1.62 1.69
Regeneron Pharmaceuticals Inc. 0.16 0.15 0.16 0.18 0.22 0.26 0.28 0.30 0.32 0.38 0.49 0.64 0.82 0.92 1.01 1.09 1.02 1.08 1.00

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

1 Q2 2019 Calculation
Inventory turnover = (Cost of goods soldQ2 2019 + Cost of goods soldQ1 2019 + Cost of goods soldQ4 2018 + Cost of goods soldQ3 2018) ÷ Inventories
= (1,000 + 957 + 1,570 + 1,086) ÷ 884 = 5.22

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory.

Receivables Turnover

Gilead Sciences Inc., receivables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Product sales 5,607  5,200  5,681  5,455  5,540  5,001  5,837  6,402  7,046  6,377  7,216  7,405  7,651  7,681  8,409  8,211  8,126  7,405  7,222  5,968  6,413  4,871 
Accounts receivable, net of allowances 3,396  3,283  3,327  3,465  3,541  3,775  3,851  4,122  4,478  4,034  4,514  5,075  5,752  6,163  5,854  6,105  5,331  4,835  4,635  2,850  3,437  3,236 
Short-term Activity Ratio
Receivables turnover1 6.46 6.66 6.52 6.30 6.43 6.43 6.66 6.56 6.26 7.10 6.64 6.14 5.55 5.26 5.49 5.07 5.39 5.59 5.28
Benchmarks
Receivables Turnover, Competitors2
Abbott Laboratories 5.58 5.75 5.90 5.77 5.70 5.31 5.22 5.24 5.10 4.95 6.42 6.24 5.76 5.95 5.97 5.95 5.77 5.86 5.65
AbbVie Inc. 5.95 5.75 6.08 5.57 5.34 5.07 5.55 5.58 5.50 5.61 5.39 5.05 4.90 5.00 4.83 4.79 4.81 4.85 5.34
Allergan PLC 5.08 5.75 5.50 5.67 5.85 6.08 5.50 5.51 5.39 5.80 5.76 5.57 5.56 6.00 6.28 7.68 3.63 3.25 5.51
Amgen Inc. 5.89 5.96 6.29 6.42 6.29 6.04 6.73 6.43 6.17 6.73 6.92 6.77 7.00 6.92 6.99 7.17 7.24 7.79 7.59
Biogen Inc. 5.70 5.29 5.56 5.34 5.44 5.41 5.79 6.47 6.17 6.59 6.81 6.64 7.42 6.68 7.49 6.82 6.69 6.21 6.35
Celgene Corp. 6.67 6.77 7.39 6.94 6.83 6.81 6.75 6.87 7.03 7.21 6.90 6.77 6.66 6.76 6.45 6.82 6.53 6.71 6.48
Eli Lilly & Co. 5.04 5.70 4.68 5.00 4.95 5.19 5.03 5.11 5.06 5.37 5.27 5.41 5.22 5.57 5.68 5.79 5.86 6.23 6.06
Johnson & Johnson 5.55 5.78 5.79 5.79 5.72 5.56 5.67 5.65 5.46 5.87 6.14 6.07 5.88 6.15 6.53 6.20 6.01 6.38 6.77
Merck & Co. Inc. 5.57 5.66 5.98 5.66 5.66 5.62 5.84 5.19 5.38 5.65 5.67 5.42 5.70 5.75 6.09 6.20 6.18 6.21 6.37
Pfizer Inc. 5.48 5.61 6.68 5.32 5.39 5.57 6.39 5.25 5.52 5.92 6.42 5.41 5.72 5.65 5.97 5.03 5.38 5.51 5.72
Regeneron Pharmaceuticals Inc. 2.31 2.44 2.38 2.39 2.56 2.51 2.42 2.35 2.47 2.55 2.49 2.42 2.17 2.02 2.33 2.26 2.03 1.90 2.37

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

1 Q2 2019 Calculation
Receivables turnover = (Product salesQ2 2019 + Product salesQ1 2019 + Product salesQ4 2018 + Product salesQ3 2018) ÷ Accounts receivable, net of allowances
= (5,607 + 5,200 + 5,681 + 5,455) ÷ 3,396 = 6.46

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables.

Payables Turnover

Gilead Sciences Inc., payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Cost of goods sold 1,000  957  1,570  1,086  1,196  1,001  1,256  1,032  1,126  957  1,075  1,129  864  1,193  1,062  1,064  998  882  1,063  987  925  813 
Accounts payable 617  577  790  580  623  711  814  696  819  944  1,206  1,052  1,122  945  1,178  1,239  1,571  1,011  955  1,183  1,162  1,235 
Short-term Activity Ratio
Payables turnover1 7.48 8.33 6.14 7.83 7.20 6.21 5.37 6.02 5.23 4.26 3.53 4.04 3.73 4.57 3.40 3.23 2.50 3.81 3.97
Benchmarks
Payables Turnover, Competitors2
Abbott Laboratories 3.97 4.20 4.27 4.68 4.98 4.99 5.14 6.13 6.49 6.70 7.66 8.49 7.70 8.36 8.09 8.82 8.96 8.92 8.66
Amgen Inc. 4.20 3.86 3.40 3.90 3.92 3.69 3.01 4.64 4.66 4.59 4.54 5.05 4.80 5.15 4.38 4.07 4.68 4.92 3.65
Biogen Inc. 5.38 5.22 4.90 5.37 5.91 4.89 4.12 5.02 4.68 4.90 5.28 5.23 5.87 4.57 4.64 4.80 4.24 5.10 5.11
Bristol-Myers Squibb Co. 3.58 3.44 3.46 3.68 3.45 3.70 2.70 3.40 3.55 3.43 2.97 3.21 2.86 2.67 2.50 3.14 2.08 1.62 1.58
Celgene Corp. 1.89 1.74 1.40 1.84 1.69 1.51 1.51 1.73 1.64 1.85 1.77 1.83 1.88 1.92 1.74 2.21 1.98 1.98 1.95
Eli Lilly & Co. 4.52 5.13 4.55 5.04 4.91 4.98 4.30 4.93 4.57 4.64 4.19 4.80 4.48 4.49 3.76 4.16 4.28 4.16 4.37
Johnson & Johnson 3.92 3.91 3.59 3.91 4.25 4.13 3.47 3.70 3.62 3.57 3.13 3.65 3.56 3.62 3.23 3.66 3.57 3.36 2.98
Merck & Co. Inc. 4.25 4.43 4.07 4.41 4.39 4.09 4.12 4.85 4.37 5.37 4.95 5.81 5.87 6.67 5.90 7.33 6.55 7.86 6.39
Pfizer Inc. 2.69 2.68 2.41 2.66 2.76 2.92 2.41 3.22 3.33 3.52 2.72 3.60 3.57 3.41 2.67 2.71 3.10 3.44 2.98
Regeneron Pharmaceuticals Inc. 0.87 0.76 0.82 1.10 1.19 1.01 1.14

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

1 Q2 2019 Calculation
Payables turnover = (Cost of goods soldQ2 2019 + Cost of goods soldQ1 2019 + Cost of goods soldQ4 2018 + Cost of goods soldQ3 2018) ÷ Accounts payable
= (1,000 + 957 + 1,570 + 1,086) ÷ 617 = 7.48

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Gilead Sciences Inc.’s payables turnover ratio increased from Q4 2018 to Q1 2019 but then slightly declined from Q1 2019 to Q2 2019.

Working Capital Turnover

Gilead Sciences Inc., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Current assets 33,727  34,024  35,836  34,918  32,728  30,258  31,823  35,317  28,592  21,424  20,445  21,425  18,353  19,267  24,763  25,910  18,093  20,062  17,714  12,562  15,499  12,971 
Less: Current liabilities 8,961  9,397  10,605  10,116  10,912  10,670  11,635  9,597  8,492  8,282  9,219  11,073  10,444  10,910  9,891  9,360  8,925  7,428  5,761  6,055  6,228  5,915 
Working capital 24,766  24,627  25,231  24,802  21,816  19,588  20,188  25,720  20,100  13,142  11,226  10,352  7,909  8,357  14,872  16,550  9,168  12,634  11,953  6,507  9,271  7,056 
 
Product sales 5,607  5,200  5,681  5,455  5,540  5,001  5,837  6,402  7,046  6,377  7,216  7,405  7,651  7,681  8,409  8,211  8,126  7,405  7,222  5,968  6,413  4,871 
Short-term Activity Ratio
Working capital turnover1 0.89 0.89 0.86 0.88 1.04 1.24 1.27 1.05 1.40 2.18 2.67 3.01 4.04 3.88 2.16 1.87 3.13 2.14 2.05
Benchmarks
Working Capital Turnover, Competitors2
Abbott Laboratories 5.04 5.80 5.44 5.61 5.72 4.78 2.44 1.87 1.79 1.76 1.04 4.45 4.76 5.08 4.11 2.88 1.72 1.89 4.28
AbbVie Inc. 64.14 10.46 8.75 6.16 4.62 5.68 3.91 4.00 3.51 3.29 3.99 4.22 2.41 3.73 4.69 4.26
Allergan PLC 58.26 21.12 27.78 10.43 9.97 8.39 4.46 1.46 0.56 52.49 1.93 5.66 3.86 7.01
Amgen Inc. 1.11 1.00 0.93 0.85 0.82 0.73 0.54 0.53 0.54 0.61 0.63 0.61 0.67 0.63 0.70 0.66 0.65 0.69 0.70
Biogen Inc. 2.38 1.91 2.51 1.94 2.48 1.49 2.30 2.46 2.70 2.56 1.85 1.74 1.95 2.11 2.23 1.36 2.86 2.61 3.34
Bristol-Myers Squibb Co. 0.82 2.71 3.32 4.04 5.09 3.91 3.64 3.39 3.52 3.58 3.64 3.98 3.58 4.13 5.86 2.33 2.26 1.65 1.90
Celgene Corp. 1.82 2.24 3.05 3.55 6.00 2.85 1.09 1.16 1.23 1.30 1.41 1.55 1.41 1.47 1.23 1.24 1.20 1.05 1.00
Eli Lilly & Co. 14.53 17.59 2.84 2.46 4.52 4.95 4.90 4.72 4.94 8.54 5.16 4.08 4.50 4.61 4.59 4.62 4.77 5.76 20.17
Johnson & Johnson 7.79 6.34 5.51 4.12 4.49 5.02 6.09 7.42 7.31 1.89 1.86 1.79 1.58 1.73 2.16 1.84 1.97 2.14 2.17
Merck & Co. Inc. 10.53 6.33 11.53 5.06 6.95 5.72 6.52 4.71 4.25 3.41 2.97 2.87 3.03 3.52 3.74 3.62 3.72 3.32 2.93
Pfizer Inc. 3.57 3.39 2.97 4.25 10.34 7.05 4.90 4.35 5.69 4.78 6.74 14.23 4.45 4.06 3.39 2.79 1.75 1.68 1.38
Regeneron Pharmaceuticals Inc. 0.90 0.78 0.82 0.93 1.13 1.17 1.16 1.20 1.24 1.45 1.72 1.27 1.38 1.32 1.28 1.27 1.29 1.09 1.16

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

1 Q2 2019 Calculation
Working capital turnover = (Product salesQ2 2019 + Product salesQ1 2019 + Product salesQ4 2018 + Product salesQ3 2018) ÷ Working capital
= (5,607 + 5,200 + 5,681 + 5,455) ÷ 24,766 = 0.89

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital.

Average Inventory Processing Period

Gilead Sciences Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Inventory turnover 5.22 5.36 5.96 5.56 5.22 4.99 5.46 3.66 3.04 2.73 2.68 2.24 2.25 2.30 2.05 2.02 1.93 2.02 2.73
Short-term Activity Ratio (no. days)
Average inventory processing period1 70 68 61 66 70 73 67 100 120 134 136 163 162 159 178 181 189 181 134
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Abbott Laboratories 124 116 109 108 109 113 107 112 122 147 98 107 116 115 108 108 111 106 105
AbbVie Inc. 94 83 76 82 74 86 83 103 93 86 90 103 118 133 139 162 146 87 93
Allergan PLC 157 159 141 150 155 155 152 159 176 180 141 143 103 87 77 75 148 189 120
Amgen Inc. 276 261 262 271 278 268 254 262 263 253 241 235 234 223 210 213 214 225 218
Biogen Inc. 140 143 187 182 195 192 202 245 221 217 247 257 274 284 263 278 264 250 251
Bristol-Myers Squibb Co. 67 69 67 72 70 70 70 79 81 98 92 120 122 119 114 105 124 138 145
Celgene Corp. 274 273 285 347 407 405 428 430 437 417 415 431 414 407 385 368 373 350 372
Eli Lilly & Co. 214 186 233 233 235 268 268 272 276 260 230 254 253 264 250 255 243 222 203
Johnson & Johnson 125 122 116 116 116 124 126 147 159 149 137 142 144 138 136 138 138 131 131
Merck & Co. Inc. 160 156 147 145 142 152 146 151 154 141 128 133 130 125 115 126 127 123 121
Pfizer Inc. 279 264 244 261 254 262 246 258 242 227 201 219 238 259 284 314 233 225 216
Regeneron Pharmaceuticals Inc. 2,260 2,429 2,334 2,011 1,659 1,423 1,309 1,205 1,138 963 749 570 446 398 360 334 357 339 365

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

1 Q2 2019 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.22 = 70

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Receivable Collection Period

Gilead Sciences Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Receivables turnover 6.46 6.66 6.52 6.30 6.43 6.43 6.66 6.56 6.26 7.10 6.64 6.14 5.55 5.26 5.49 5.07 5.39 5.59 5.28
Short-term Activity Ratio (no. days)
Average receivable collection period1 56 55 56 58 57 57 55 56 58 51 55 59 66 69 66 72 68 65 69
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Abbott Laboratories 65 64 62 63 64 69 70 70 72 74 57 59 63 61 61 61 63 62 65
AbbVie Inc. 61 64 60 66 68 72 66 65 66 65 68 72 74 73 76 76 76 75 68
Allergan PLC 72 63 66 64 62 60 66 66 68 63 63 65 66 61 58 48 100 112 66
Amgen Inc. 62 61 58 57 58 60 54 57 59 54 53 54 52 53 52 51 50 47 48
Biogen Inc. 64 69 66 68 67 67 63 56 59 55 54 55 49 55 49 54 55 59 58
Celgene Corp. 55 54 49 53 53 54 54 53 52 51 53 54 55 54 57 54 56 54 56
Eli Lilly & Co. 72 64 78 73 74 70 73 71 72 68 69 67 70 66 64 63 62 59 60
Johnson & Johnson 66 63 63 63 64 66 64 65 67 62 59 60 62 59 56 59 61 57 54
Merck & Co. Inc. 66 64 61 64 64 65 63 70 68 65 64 67 64 63 60 59 59 59 57
Pfizer Inc. 67 65 55 69 68 65 57 70 66 62 57 67 64 65 61 73 68 66 64
Regeneron Pharmaceuticals Inc. 158 149 153 152 143 145 151 155 148 143 147 151 168 181 156 161 180 192 154

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

1 Q2 2019 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 6.46 = 56

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

Gilead Sciences Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Average inventory processing period 70 68 61 66 70 73 67 100 120 134 136 163 162 159 178 181 189 181 134
Average receivable collection period 56 55 56 58 57 57 55 56 58 51 55 59 66 69 66 72 68 65 69
Short-term Activity Ratio
Operating cycle1 126 123 117 124 127 130 122 156 178 185 191 222 228 228 244 253 257 246 203
Benchmarks
Operating Cycle, Competitors2
Abbott Laboratories 189 180 171 171 173 182 177 182 194 221 155 166 179 176 169 169 174 168 170
AbbVie Inc. 155 147 136 148 142 158 149 168 159 151 158 175 192 206 215 238 222 162 161
Allergan PLC 229 222 207 214 217 215 218 225 244 243 204 208 169 148 135 123 248 301 186
Amgen Inc. 338 322 320 328 336 328 308 319 322 307 294 289 286 276 262 264 264 272 266
Biogen Inc. 204 212 253 250 262 259 265 301 280 272 301 312 323 339 312 332 319 309 309
Celgene Corp. 329 327 334 400 460 459 482 483 489 468 468 485 469 461 442 422 429 404 428
Eli Lilly & Co. 286 250 311 306 309 338 341 343 348 328 299 321 323 330 314 318 305 281 263
Johnson & Johnson 191 185 179 179 180 190 190 212 226 211 196 202 206 197 192 197 199 188 185
Merck & Co. Inc. 226 220 208 209 206 217 209 221 222 206 192 200 194 188 175 185 186 182 178
Pfizer Inc. 346 329 299 330 322 327 303 328 308 289 258 286 302 324 345 387 301 291 280
Regeneron Pharmaceuticals Inc. 2,418 2,578 2,487 2,163 1,802 1,568 1,460 1,360 1,286 1,106 896 721 614 579 516 495 537 531 519

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

1 Q2 2019 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 70 + 56 = 126

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

Gilead Sciences Inc., average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Payables turnover 7.48 8.33 6.14 7.83 7.20 6.21 5.37 6.02 5.23 4.26 3.53 4.04 3.73 4.57 3.40 3.23 2.50 3.81 3.97
Short-term Activity Ratio (no. days)
Average payables payment period1 49 44 59 47 51 59 68 61 70 86 103 90 98 80 107 113 146 96 92
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Abbott Laboratories 92 87 85 78 73 73 71 60 56 54 48 43 47 44 45 41 41 41 42
Amgen Inc. 87 95 107 94 93 99 121 79 78 80 80 72 76 71 83 90 78 74 100
Biogen Inc. 68 70 74 68 62 75 89 73 78 74 69 70 62 80 79 76 86 72 71
Bristol-Myers Squibb Co. 102 106 105 99 106 99 135 107 103 106 123 114 127 137 146 116 175 225 231
Celgene Corp. 193 210 260 198 215 242 241 211 223 197 206 200 194 190 209 165 184 184 187
Eli Lilly & Co. 81 71 80 72 74 73 85 74 80 79 87 76 81 81 97 88 85 88 83
Johnson & Johnson 93 93 102 93 86 88 105 99 101 102 116 100 103 101 113 100 102 109 122
Merck & Co. Inc. 86 82 90 83 83 89 89 75 83 68 74 63 62 55 62 50 56 46 57
Pfizer Inc. 136 136 152 137 132 125 151 113 110 104 134 101 102 107 137 135 118 106 122
Regeneron Pharmaceuticals Inc. 419 481 442 333 307 360 321

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

1 Q2 2019 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 7.48 = 49

2 Click competitor name to see calculations.

Short-term activity 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. Gilead Sciences Inc.’s number of days of payables outstanding declined from Q4 2018 to Q1 2019 but then slightly increased from Q1 2019 to Q2 2019.

Cash Conversion Cycle

Gilead Sciences Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data
Average inventory processing period 70 68 61 66 70 73 67 100 120 134 136 163 162 159 178 181 189 181 134
Average receivable collection period 56 55 56 58 57 57 55 56 58 51 55 59 66 69 66 72 68 65 69
Average payables payment period 49 44 59 47 51 59 68 61 70 86 103 90 98 80 107 113 146 96 92
Short-term Activity Ratio
Cash conversion cycle1 77 79 58 77 76 71 54 95 108 99 88 132 130 148 137 140 111 150 111
Benchmarks
Cash Conversion Cycle, Competitors2
Abbott Laboratories 97 93 86 93 100 109 106 122 138 167 107 123 132 132 124 128 133 127 128
Amgen Inc. 251 227 213 234 243 229 187 240 244 227 214 217 210 205 179 174 186 198 166
Biogen Inc. 136 142 179 182 200 184 176 228 202 198 232 242 261 259 233 256 233 237 238
Celgene Corp. 136 117 74 202 245 217 241 272 266 271 262 285 275 271 233 257 245 220 241
Eli Lilly & Co. 205 179 231 234 235 265 256 269 268 249 212 245 242 249 217 230 220 193 180
Johnson & Johnson 98 92 77 86 94 102 85 113 125 109 80 102 103 96 79 97 97 79 63
Merck & Co. Inc. 140 138 118 126 123 128 120 146 139 138 118 137 132 133 113 135 130 136 121
Pfizer Inc. 210 193 147 193 190 202 152 215 198 185 124 185 200 217 208 252 183 185 158
Regeneron Pharmaceuticals Inc. 1,999 2,097 2,045 1,830 1,495 1,208 1,139

Based on: 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-08-06), 10-Q (filing date: 2018-05-09), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-11-07), 10-Q (filing date: 2017-08-07), 10-Q (filing date: 2017-05-10), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-11-07), 10-Q (filing date: 2016-08-05), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-05), 10-Q (filing date: 2015-05-08), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-11-05), 10-Q (filing date: 2014-08-04), 10-Q (filing date: 2014-05-07).

1 Q2 2019 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 70 + 5649 = 77

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.