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.
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- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2008
- Net Profit Margin since 2008
- Operating Profit Margin since 2008
- Return on Equity (ROE) since 2008
- Price to Operating Profit (P/OP) since 2008
- Price to Sales (P/S) since 2008
- Aggregate Accruals
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Long-term Activity Ratios (Summary)
Keurig Dr Pepper Inc., long-term (investment) activity ratios
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|
| Net fixed asset turnover | |||||
| Net fixed asset turnover (including operating lease, right-of-use asset) | |||||
| Total asset turnover | |||||
| Equity turnover |
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).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrated a strong increase from 3.22 in 2018 to a peak of 5.48 in 2019, indicating improved efficiency in using fixed assets to generate revenue. This was followed by a slight decline to 5.25 in 2020 and a further modest decrease to 5.09 in 2021. Despite the recent downward trend, the ratio remained significantly higher than the 2018 baseline, implying sustained asset utilization efficiency over the period.
- Net Fixed Asset Turnover including Operating Lease (Right-of-Use Asset)
- The net fixed asset turnover ratio including right-of-use assets showed a less pronounced increase, rising from 3.22 in 2018 to 4.4 in 2019. Subsequently, it declined steadily to 4.07 in 2020 and 4.0 in 2021. This trend suggests that when considering leased assets, the growth in turnover efficiency was more moderate, and the decrease over the period indicates growing asset base or less efficient utilization of these combined assets in recent years.
- Total Asset Turnover
- Total asset turnover exhibited a consistent upward trend from 0.15 in 2018 to 0.22 in 2019, continuing to increase modestly to 0.23 in 2020 and 0.25 in 2021. This gradual improvement reflects better utilization of overall assets to generate sales, suggesting enhanced operational efficiency and potentially improved asset management strategies.
- Equity Turnover
- Equity turnover showed a steady increase year-over-year, starting at 0.33 in 2018 and climbing to 0.48 in 2019. The ratio saw minor growth to 0.49 in 2020 and further to 0.51 in 2021. This upward trend indicates an increasing ability to generate revenue relative to shareholders’ equity, pointing to improved financial leverage or enhanced return on equity investments.
Net Fixed Asset Turnover
Keurig Dr Pepper Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | |||||
| Property, plant and equipment, net | |||||
| Long-term Activity Ratio | |||||
| Net fixed asset turnover1 | |||||
| Benchmarks | |||||
| Net Fixed Asset Turnover, Competitors2 | |||||
| Coca-Cola Co. | |||||
| Mondelēz International Inc. | |||||
| PepsiCo Inc. | |||||
| Philip Morris International Inc. | |||||
| Net Fixed Asset Turnover, Sector | |||||
| Food, Beverage & Tobacco | |||||
| Net Fixed Asset Turnover, Industry | |||||
| Consumer Staples | |||||
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).
1 2021 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales demonstrate a consistent upward trend over the four-year period. Starting at 7,442 million US dollars in 2018, revenues increased significantly to 11,120 million in 2019, followed by more moderate growth to 11,618 million in 2020 and further expansion to 12,683 million in 2021. This indicates a steady increase in market demand or successful sales strategies during these years.
- Property, Plant and Equipment, Net
- The net value of property, plant, and equipment exhibits some fluctuations. It declined from 2,310 million US dollars in 2018 to 2,028 million in 2019. However, it rebounded to 2,212 million in 2020 and further increased to 2,494 million in 2021. This pattern may reflect asset disposals or impairments in 2019, followed by investments or acquisitions in subsequent years.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, representing the efficiency in utilizing fixed assets to generate sales, rose sharply from 3.22 in 2018 to 5.48 in 2019. It slightly decreased to 5.25 in 2020 and continued a gradual decline to 5.09 in 2021. Despite this slight decrease in the last two years, the overall high ratio compared to 2018 suggests improved asset utilization efficiency over the period examined.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Keurig Dr Pepper Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | |||||
| Property, plant and equipment, net | |||||
| Operating lease right-of-use assets | |||||
| Property, plant and equipment, net (including operating lease, right-of-use asset) | |||||
| Long-term Activity Ratio | |||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | |||||
| Benchmarks | |||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||
| Coca-Cola Co. | |||||
| Mondelēz International Inc. | |||||
| PepsiCo Inc. | |||||
| Philip Morris International Inc. | |||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||
| Food, Beverage & Tobacco | |||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||
| Consumer Staples | |||||
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).
1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales exhibited a consistent upward trend over the analyzed period. Starting from 7,442 million USD in 2018, sales increased substantially to 11,120 million USD in 2019. Growth continued, though at a slower pace, reaching 11,618 million USD in 2020 and further rising to 12,683 million USD in 2021. This pattern indicates a steady expansion in revenue generation over the four years.
- Property, Plant and Equipment, Net
- The net value of property, plant, and equipment, including operating lease right-of-use assets, showed continuous growth throughout the period. From 2,310 million USD in 2018, there was a moderate increase to 2,525 million USD in 2019, followed by a more pronounced rise to 2,857 million USD in 2020, and further growth to 3,167 million USD in 2021. This trend suggests ongoing investment in fixed assets, potentially to support expanding operations or improve production capacity.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, which measures the efficiency of using fixed assets to generate sales, experienced notable fluctuations. It started at 3.22 in 2018, increased significantly to 4.40 in 2019, indicating enhanced utilization of fixed assets. However, the ratio decreased to 4.07 in 2020 and slightly further to 4.00 in 2021. Despite this decline, the ratio remained above the 2018 level, reflecting relatively efficient use of fixed assets over time with a slight reduction in efficiency after 2019.
- Summary
- The data reveals a pattern of increasing net sales coupled with expanded investment in property, plant, and equipment. The rise in fixed asset values suggests a growth-oriented capital expenditure strategy. Meanwhile, while the net fixed asset turnover ratio improved markedly from 2018 to 2019, it experienced a moderate decline thereafter but stayed at a high level compared to the initial year. Overall, the company demonstrated robust sales growth alongside substantial asset growth, with some variations in asset utilization efficiency over the period.
Total Asset Turnover
Keurig Dr Pepper Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | |||||
| Total assets | |||||
| Long-term Activity Ratio | |||||
| Total asset turnover1 | |||||
| Benchmarks | |||||
| Total Asset Turnover, Competitors2 | |||||
| Coca-Cola Co. | |||||
| Mondelēz International Inc. | |||||
| PepsiCo Inc. | |||||
| Philip Morris International Inc. | |||||
| Total Asset Turnover, Sector | |||||
| Food, Beverage & Tobacco | |||||
| Total Asset Turnover, Industry | |||||
| Consumer Staples | |||||
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).
1 2021 Calculation
Total asset turnover = Net sales ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- There is a consistent upward trend in net sales over the four-year period, increasing from 7,442 million USD in 2018 to 12,683 million USD in 2021. This represents a significant growth in revenue, with the largest year-over-year increase occurring between 2018 and 2019.
- Total Assets
- Total assets show a relatively stable pattern across the years, with a slight increase from 48,918 million USD in 2018 to 50,598 million USD in 2021. The asset base remains fairly constant, indicating limited expansion in asset investment during this period.
- Total Asset Turnover
- The total asset turnover ratio improves steadily from 0.15 in 2018 to 0.25 in 2021. This upward trend suggests enhanced efficiency in utilizing assets to generate sales. The company appears to be achieving higher sales volumes relative to its asset base, indicating better operational effectiveness over time.
Equity Turnover
Keurig Dr Pepper Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales | |||||
| Stockholders’ equity | |||||
| Long-term Activity Ratio | |||||
| Equity turnover1 | |||||
| Benchmarks | |||||
| Equity Turnover, Competitors2 | |||||
| Coca-Cola Co. | |||||
| Mondelēz International Inc. | |||||
| PepsiCo Inc. | |||||
| Philip Morris International Inc. | |||||
| Equity Turnover, Sector | |||||
| Food, Beverage & Tobacco | |||||
| Equity Turnover, Industry | |||||
| Consumer Staples | |||||
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).
1 2021 Calculation
Equity turnover = Net sales ÷ Stockholders’ equity
= ÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales demonstrate a consistent upward trend over the four-year period. From 2018 to 2019, there is a significant increase of approximately 49.4%, rising from $7,442 million to $11,120 million. This growth continues but at a slower pace, reaching $11,618 million in 2020 and further climbing to $12,683 million by 2021. The overall increase from 2018 to 2021 totals about 70.4%, indicating steady expansion in revenue generation.
- Stockholders’ Equity
- Stockholders’ equity shows a moderate but steady increase throughout the period. It grew from $22,533 million in 2018 to $23,257 million in 2019, then to $23,829 million in 2020, and finally to $24,972 million in 2021. The total growth over the four years represents an approximately 10.8% increase. This suggests a gradual strengthening of the company’s equity base.
- Equity Turnover Ratio
- The equity turnover ratio increases consistently from 0.33 in 2018 to 0.51 in 2021. This ratio measures how efficiently the company is using its stockholders’ equity to generate sales. The upward trend indicates improving efficiency in generating revenue relative to equity, with the ratio increasing by more than 54% over the four years. This improvement aligns with the faster growth rate in net sales compared to the more modest rise in equity.