Analysis of Long-term (Investment) 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.
Long-term Activity Ratios (Summary)
Intel Corp., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02).
A comprehensive analysis of long-term activity ratios from April 2022 through June 2026 reveals a general period of declining asset efficiency followed by a trend of stabilization and marginal recovery in the final quarters of the period.
- Net Fixed Asset Turnover
- A significant and consistent downward trend is observed from April 2022, where the ratio stood at 1.16, reaching a trough of 0.48 between March and June 2025. This represents a substantial reduction in the efficiency with which fixed assets are utilized to generate revenue. However, a gradual recovery is noted in the final three quarters, with the ratio climbing to 0.54 by June 2026, suggesting a potential increase in the productivity of long-term investments.
- Total Asset Turnover
- The total asset turnover ratio exhibits a steady decline from 0.44 in April 2022 to a low of 0.25 in December 2025. This prolonged contraction indicates an overall decrease in the company's ability to generate sales from its total asset base. The ratio remained relatively stagnant between 0.27 and 0.29 for much of 2023 and 2024, before experiencing a slight uptick to 0.28 in the final quarter of the analyzed period.
- Equity Turnover
- Equity turnover followed a similar downward trajectory as the other activity ratios, falling from 0.75 in April 2022 to a minimum of 0.46 in December 2025. This suggests a diminishing efficiency in utilizing shareholder equity to drive revenue. Notably, the ratio demonstrated more volatility than total asset turnover, including a temporary spike to 0.55 in September 2024. The period concludes with a sharp increase to 0.65 in June 2026, marking the most significant recovery among the three measured ratios.
The synchronized decline across all three ratios until late 2025 indicates a systemic reduction in investment efficiency, likely coinciding with a period of heavy capital expansion where asset growth outpaced revenue growth. The convergence of these ratios toward an upward trend in the first half of 2026 suggests a transition toward improved asset utilization.
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Net Fixed Asset Turnover
Intel Corp., net fixed asset turnover calculation (quarterly data)
| Jun 27, 2026 | Mar 28, 2026 | Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Net revenue | 16,128) | 13,577) | 13,674) | 13,653) | 12,859) | 12,667) | 14,260) | 13,284) | 12,833) | 12,724) | 15,406) | 14,158) | 12,949) | 11,715) | 14,042) | 15,338) | 15,321) | 18,353) | ||||||
| Property, plant, and equipment, net of accumulated depreciation | 105,741) | 104,458) | 105,414) | 105,047) | 109,510) | 109,763) | 107,919) | 104,248) | 103,398) | 99,924) | 96,647) | 93,352) | 90,945) | 85,734) | 80,860) | 75,763) | 71,660) | 66,718) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||
| Net fixed asset turnover1 | 0.54 | 0.51 | 0.50 | 0.51 | 0.48 | 0.48 | 0.49 | 0.52 | 0.53 | 0.55 | 0.56 | 0.57 | 0.59 | 0.66 | 0.78 | 0.92 | 1.02 | 1.16 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | 13.75 | 14.98 | 14.52 | 13.91 | 14.45 | 14.31 | 14.56 | 13.97 | 14.04 | 14.27 | 14.12 | 14.20 | 15.38 | 15.60 | 15.36 | 14.97 | 13.43 | ||||||
| Analog Devices Inc. | 3.87 | 3.62 | 3.32 | 3.15 | 2.94 | 2.78 | 2.76 | 2.86 | 3.06 | 3.52 | 3.82 | 4.39 | 4.69 | 4.98 | 5.00 | 5.09 | 4.66 | 4.14 | ||||||
| Applied Materials Inc. | 5.52 | 5.70 | 6.15 | 6.94 | 7.33 | 7.76 | 8.14 | 8.66 | 8.96 | 9.37 | 9.74 | 10.19 | 10.41 | 10.53 | 11.18 | 11.47 | 11.99 | 12.25 | ||||||
| Broadcom Inc. | 27.07 | 26.27 | 25.25 | 24.45 | 23.17 | 22.12 | 20.46 | 17.99 | 15.97 | 14.60 | 16.63 | 16.26 | 15.86 | 15.63 | 14.94 | 14.08 | 13.26 | 12.38 | ||||||
| KLA Corp. | 9.48 | 9.62 | 9.70 | 9.64 | 9.24 | 9.17 | 8.84 | 8.68 | 8.88 | 9.59 | 10.17 | 10.80 | 10.87 | 10.79 | 10.84 | 10.69 | 11.39 | 10.68 | ||||||
| Lam Research Corp. | 7.58 | 7.80 | 7.59 | 7.22 | 7.01 | 7.04 | 6.92 | 6.53 | 6.67 | 7.50 | 9.39 | 10.16 | 10.22 | 10.47 | 10.46 | 10.72 | 10.99 | 11.48 | ||||||
| Micron Technology Inc. | 1.13 | 0.87 | 0.80 | 0.76 | 0.74 | 0.70 | 0.63 | 0.56 | 0.49 | 0.43 | 0.41 | 0.47 | 0.59 | 0.69 | 0.80 | 0.88 | 0.86 | 0.84 | ||||||
| NVIDIA Corp. | 18.07 | 20.81 | 20.77 | 21.20 | 19.71 | 19.91 | 15.57 | 11.67 | 8.60 | 6.92 | 7.09 | 7.57 | 9.20 | 10.13 | 9.69 | 9.67 | 9.26 | 8.49 | ||||||
| Qualcomm Inc. | 8.77 | 9.17 | 9.44 | 9.62 | 9.59 | 9.12 | 8.35 | 7.87 | 7.71 | 7.40 | 7.10 | 7.40 | 7.78 | 8.24 | 8.55 | 8.36 | 8.02 | 7.63 | ||||||
| Texas Instruments Inc. | 1.63 | 1.52 | 1.44 | 1.40 | 1.35 | 1.36 | 1.38 | 1.33 | 1.44 | 1.61 | 1.75 | 1.94 | 2.21 | 2.54 | 2.91 | 3.11 | 3.30 | 3.49 | ||||||
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02).
1 Q2 2026 Calculation
Net fixed asset turnover
= (Net revenueQ2 2026
+ Net revenueQ1 2026
+ Net revenueQ4 2025
+ Net revenueQ3 2025)
÷ Property, plant, and equipment, net of accumulated depreciation
= (16,128 + 13,577 + 13,674 + 13,653)
÷ 105,741 = 0.54
2 Click competitor name to see calculations.
A comprehensive analysis of the long-term investment activity reveals a sustained decline in asset utilization efficiency from early 2022 through late 2024, followed by a period of stabilization and marginal recovery entering 2026.
- Net Fixed Asset Turnover Trend
- The net fixed asset turnover ratio experienced a significant contraction, falling from 1.16 in April 2022 to a low of 0.48 by March and June 2025. This downward trajectory indicates a diminishing ability to generate revenue relative to the investment in fixed assets. The most rapid decline occurred between April 2022 and April 2023, where the ratio dropped by approximately 43%.
- Revenue and Asset Correlation
- The deterioration of the turnover ratio was driven by the simultaneous occurrence of declining net revenues and expanding capital assets. Net revenue peaked at 18,353 million USD in April 2022 and reached a trough of 11,715 million USD in April 2023. During this same window, property, plant, and equipment (net) increased from 66,718 million USD to 85,734 million USD, creating a widening gap between asset investment and revenue generation.
- Capital Investment Expansion
- A consistent upward trend in property, plant, and equipment is observed through December 2023, peaking at 109,763 million USD. This suggests an aggressive investment phase in production capacity or infrastructure. The fact that the turnover ratio continued to decline while assets grew indicates that these investments did not yield immediate proportional increases in top-line growth during the 2022-2024 period.
- Stabilization and Recovery Phase
- Starting in 2025, the turnover ratio reached a floor and began a gradual recovery, rising to 0.54 by June 2026. This improvement is attributed to a recovery in net revenue, which rose to 16,128 million USD by the end of the period, while the net value of fixed assets remained relatively stable or slightly contracted from its peak. This shift suggests that the previously deployed capital began to contribute more effectively to revenue generation.
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Total Asset Turnover
Intel Corp., total asset turnover calculation (quarterly data)
| Jun 27, 2026 | Mar 28, 2026 | Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Net revenue | 16,128) | 13,577) | 13,674) | 13,653) | 12,859) | 12,667) | 14,260) | 13,284) | 12,833) | 12,724) | 15,406) | 14,158) | 12,949) | 11,715) | 14,042) | 15,338) | 15,321) | 18,353) | ||||||
| Total assets | 202,439) | 205,332) | 211,429) | 204,514) | 192,520) | 192,242) | 196,485) | 193,542) | 206,205) | 192,733) | 191,572) | 188,837) | 185,629) | 185,303) | 182,103) | 174,841) | 170,418) | 176,356) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||
| Total asset turnover1 | 0.28 | 0.26 | 0.25 | 0.26 | 0.28 | 0.28 | 0.27 | 0.28 | 0.27 | 0.29 | 0.28 | 0.28 | 0.29 | 0.30 | 0.35 | 0.40 | 0.43 | 0.44 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | 0.47 | 0.45 | 0.42 | 0.40 | 0.39 | 0.37 | 0.35 | 0.34 | 0.34 | 0.33 | 0.33 | 0.32 | 0.34 | 0.35 | 0.34 | 0.32 | 0.28 | ||||||
| Analog Devices Inc. | 0.27 | 0.24 | 0.23 | 0.22 | 0.21 | 0.19 | 0.20 | 0.20 | 0.21 | 0.24 | 0.25 | 0.26 | 0.26 | 0.25 | 0.24 | 0.22 | 0.19 | 0.16 | ||||||
| Applied Materials Inc. | 0.72 | 0.75 | 0.78 | 0.84 | 0.84 | 0.83 | 0.79 | 0.80 | 0.83 | 0.84 | 0.86 | 0.87 | 0.92 | 0.94 | 0.96 | 0.96 | 0.98 | 0.95 | ||||||
| Broadcom Inc. | 0.42 | 0.40 | 0.37 | 0.36 | 0.35 | 0.33 | 0.31 | 0.28 | 0.24 | 0.22 | 0.49 | 0.50 | 0.49 | 0.47 | 0.45 | 0.44 | 0.42 | 0.39 | ||||||
| KLA Corp. | 0.76 | 0.77 | 0.76 | 0.76 | 0.72 | 0.65 | 0.64 | 0.64 | 0.68 | 0.72 | 0.75 | 0.78 | 0.76 | 0.75 | 0.73 | 0.72 | 0.70 | 0.67 | ||||||
| Lam Research Corp. | 0.96 | 0.89 | 0.86 | 0.86 | 0.82 | 0.80 | 0.80 | 0.78 | 0.76 | 0.85 | 0.93 | 0.98 | 0.99 | 0.96 | 1.00 | 1.01 | 0.99 | 1.01 | ||||||
| Micron Technology Inc. | 0.57 | 0.49 | 0.45 | 0.43 | 0.43 | 0.41 | 0.36 | 0.32 | 0.28 | 0.25 | 0.24 | 0.28 | 0.35 | 0.40 | 0.46 | 0.50 | 0.49 | 0.48 | ||||||
| NVIDIA Corp. | 1.17 | 1.19 | 1.17 | 1.18 | 1.13 | 1.04 | 0.93 | 0.83 | 0.66 | 0.58 | 0.65 | 0.71 | 0.68 | 0.65 | 0.61 | 0.60 | 0.57 | 0.63 | ||||||
| Qualcomm Inc. | 0.78 | 0.85 | 0.88 | 0.79 | 0.76 | 0.73 | 0.71 | 0.71 | 0.68 | 0.70 | 0.70 | 0.79 | 0.85 | 0.86 | 0.90 | 0.90 | 0.89 | 0.84 | ||||||
| Texas Instruments Inc. | 0.54 | 0.54 | 0.51 | 0.49 | 0.48 | 0.48 | 0.44 | 0.44 | 0.46 | 0.48 | 0.54 | 0.57 | 0.61 | 0.67 | 0.74 | 0.77 | 0.79 | 0.75 | ||||||
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02).
1 Q2 2026 Calculation
Total asset turnover
= (Net revenueQ2 2026
+ Net revenueQ1 2026
+ Net revenueQ4 2025
+ Net revenueQ3 2025)
÷ Total assets
= (16,128 + 13,577 + 13,674 + 13,653)
÷ 202,439 = 0.28
2 Click competitor name to see calculations.
A general decline in asset utilization efficiency is evident over the analyzed period. The total asset turnover ratio experienced a sustained downward trend from the second quarter of 2022 through the end of 2025, before showing signs of modest recovery in the first half of 2026.
- Net Revenue Dynamics
- Revenue exhibited significant volatility and an initial contraction, falling from 18,353 million USD in April 2022 to a period low of 11,715 million USD in April 2023. While revenues stabilized and grew gradually throughout 2024 and 2025, they remained below 2022 levels until a peak of 16,128 million USD was reached in June 2026.
- Total Asset Expansion
- The asset base demonstrated a consistent upward trajectory, increasing from 176,356 million USD in April 2022 to a peak of 211,429 million USD in December 2025. This expansion of the balance sheet occurred even during periods of declining or stagnant revenue, contributing to the deterioration of the turnover ratio.
- Total Asset Turnover Performance
- The total asset turnover ratio declined from 0.44 in April 2022 to 0.25 by December 2025. This pattern indicates that the growth in assets outpaced revenue generation for the majority of the period, leading to reduced operational efficiency. A slight reversal of this trend occurred in 2026, with the ratio returning to 0.28 by June 2026, coinciding with a significant increase in quarterly net revenue.
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Equity Turnover
Intel Corp., equity turnover calculation (quarterly data)
| Jun 27, 2026 | Mar 28, 2026 | Dec 27, 2025 | Sep 27, 2025 | Jun 28, 2025 | Mar 29, 2025 | Dec 28, 2024 | Sep 28, 2024 | Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Net revenue | 16,128) | 13,577) | 13,674) | 13,653) | 12,859) | 12,667) | 14,260) | 13,284) | 12,833) | 12,724) | 15,406) | 14,158) | 12,949) | 11,715) | 14,042) | 15,338) | 15,321) | 18,353) | ||||||
| Total Intel stockholders’ equity | 87,542) | 111,394) | 114,281) | 106,376) | 97,883) | 99,756) | 99,270) | 99,532) | 115,229) | 105,973) | 105,590) | 101,813) | 101,017) | 98,059) | 101,423) | 99,885) | 101,218) | 103,136) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||
| Equity turnover1 | 0.65 | 0.48 | 0.46 | 0.50 | 0.54 | 0.53 | 0.53 | 0.55 | 0.48 | 0.52 | 0.51 | 0.52 | 0.53 | 0.58 | 0.62 | 0.70 | 0.73 | 0.75 | ||||||
| Benchmarks | ||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||
| Advanced Micro Devices Inc. | — | 0.58 | 0.55 | 0.53 | 0.50 | 0.48 | 0.45 | 0.43 | 0.41 | 0.41 | 0.41 | 0.40 | 0.40 | 0.42 | 0.43 | 0.42 | 0.39 | 0.34 | ||||||
| Analog Devices Inc. | 0.38 | 0.35 | 0.33 | 0.30 | 0.28 | 0.27 | 0.27 | 0.28 | 0.30 | 0.33 | 0.35 | 0.36 | 0.36 | 0.34 | 0.33 | 0.30 | 0.26 | 0.23 | ||||||
| Applied Materials Inc. | 1.21 | 1.30 | 1.39 | 1.47 | 1.48 | 1.48 | 1.43 | 1.43 | 1.46 | 1.52 | 1.62 | 1.76 | 1.89 | 1.96 | 2.11 | 2.08 | 2.14 | 2.03 | ||||||
| Broadcom Inc. | 0.86 | 0.85 | 0.79 | 0.82 | 0.82 | 0.78 | 0.76 | 0.71 | 0.61 | 0.55 | 1.49 | 1.61 | 1.59 | 1.48 | 1.46 | 1.52 | 1.43 | 1.24 | ||||||
| KLA Corp. | 2.33 | 2.51 | 2.59 | 2.88 | 3.03 | 2.88 | 2.91 | 3.10 | 3.18 | 3.40 | 3.59 | 3.96 | 4.03 | 4.69 | 6.57 | 2.12 | 2.02 | 1.93 | ||||||
| Lam Research Corp. | 2.03 | 1.92 | 1.87 | 1.80 | 1.84 | 1.84 | 1.75 | 1.78 | 1.74 | 1.97 | 2.12 | 2.24 | 2.29 | 2.43 | 2.74 | 2.78 | 2.55 | 2.71 | ||||||
| Micron Technology Inc. | 0.80 | 0.72 | 0.69 | 0.67 | 0.64 | 0.62 | 0.56 | 0.48 | 0.42 | 0.38 | 0.35 | 0.40 | 0.49 | 0.55 | 0.62 | 0.66 | 0.65 | 0.65 | ||||||
| NVIDIA Corp. | 1.65 | 1.77 | 1.65 | 1.72 | 1.66 | 1.62 | 1.42 | 1.35 | 1.19 | 1.06 | 1.22 | 1.34 | 1.25 | 1.12 | 1.01 | 1.02 | 1.04 | 1.03 | ||||||
| Qualcomm Inc. | 1.63 | 1.94 | 2.09 | 1.59 | 1.53 | 1.51 | 1.48 | 1.51 | 1.49 | 1.57 | 1.66 | 1.87 | 2.08 | 2.28 | 2.45 | 2.63 | 2.95 | 3.18 | ||||||
| Texas Instruments Inc. | 1.08 | 1.10 | 1.09 | 1.04 | 1.02 | 0.98 | 0.93 | 0.91 | 0.93 | 0.99 | 1.04 | 1.09 | 1.18 | 1.28 | 1.37 | 1.39 | 1.39 | 1.35 | ||||||
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02).
1 Q2 2026 Calculation
Equity turnover
= (Net revenueQ2 2026
+ Net revenueQ1 2026
+ Net revenueQ4 2025
+ Net revenueQ3 2025)
÷ Total Intel stockholders’ equity
= (16,128 + 13,577 + 13,674 + 13,653)
÷ 87,542 = 0.65
2 Click competitor name to see calculations.
The equity turnover ratio demonstrates a general downward trajectory from early 2022 through late 2023, followed by a prolonged period of relative stability and a sharp increase in the final quarter of the analyzed period. This trend reflects shifts in the efficiency with which the company utilizes its shareholders' equity to generate revenue.
- Initial Decline Phase (April 2022 – December 2023)
- A consistent contraction in equity turnover is observed, falling from a peak of 0.75 in April 2022 to 0.51 by December 2023. This decline is primarily driven by a significant reduction in net revenue, which dropped from 18,353 million USD to 15,406 million USD over this period, while stockholders' equity remained relatively stable, fluctuating within the 98,000 to 105,000 million USD range. This indicates a diminishing capacity to generate sales relative to the invested capital base.
- Stabilization Period (March 2024 – March 2026)
- The ratio entered a phase of stagnation, oscillating between a low of 0.46 and a high of 0.55. During this window, net revenue exhibited moderate volatility, ranging from 12,667 million USD to 14,260 million USD. Equity levels peaked in June 2024 at 115,229 million USD before adjusting. The stability in the turnover ratio during this time suggests that revenue growth was largely proportional to the changes in the equity base, maintaining a consistent, albeit lower, level of asset utilization.
- Final Period Acceleration (June 2026)
- A notable increase in equity turnover to 0.65 is recorded in June 2026. This spike is the result of a dual impact: a substantial increase in net revenue to 16,128 million USD and a simultaneous sharp contraction in total stockholders' equity to 87,542 million USD. The reduction in the denominator (equity) combined with the growth in the numerator (revenue) led to a rapid improvement in the turnover ratio, marking the highest efficiency level seen since 2022.
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