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.
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- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2008
- Current Ratio since 2008
- Price to Earnings (P/E) since 2008
- Price to Book Value (P/BV) since 2008
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Long-term Activity Ratios (Summary)
Keurig Dr Pepper Inc., long-term (investment) activity ratios (quarterly data)
| 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 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net fixed asset turnover | ||||||||||||||
| Total asset turnover | ||||||||||||||
| Equity turnover |
Based on: 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).
The analysis of the quarterly financial ratios over the observed periods reveals several notable trends in asset utilization and equity efficiency.
- Net Fixed Asset Turnover
- This ratio demonstrates a slight overall decline during the year 2020, decreasing from 5.57 to 5.25, signaling a gradual reduction in how efficiently the company utilized its fixed assets to generate sales. However, from the first quarter of 2021 onwards, the ratio shows some recovery and stabilization, fluctuating moderately around the mid-5 range. By mid-2022, the ratio increased to 5.43, nearing the early 2020 levels, indicating improvement in asset productivity.
- Total Asset Turnover
- The total asset turnover ratio has remained relatively stable throughout the entire period, consistently around 0.23 to 0.26. There is a subtle upward trend from 0.23 in early 2020 to 0.26 in mid-2022, suggesting a modest but steady improvement in overall asset efficiency in generating revenue.
- Equity Turnover
- The equity turnover ratio has exhibited minor fluctuations around the 0.49 to 0.52 range. It starts at 0.5 in early 2020, dips slightly at times, but generally trends upwards, reaching 0.52 by mid-2022. This mild increase points towards a gradual enhancement in the company's ability to generate sales from its shareholders' equity.
Overall, the data indicates the company has maintained a stable asset turnover profile with slight improvements in both total asset turnover and equity turnover. The recovery in net fixed asset turnover following its decline in 2020 may reflect strategic asset management or operational adjustments contributing to more effective utilization of fixed assets. These trends collectively suggest an enhancement in operational efficiency over the analyzed quarters.
Net Fixed Asset Turnover
Keurig Dr Pepper Inc., net fixed asset turnover calculation (quarterly data)
| 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 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | ||||||||||||||
Based on: 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).
1 Q2 2022 Calculation
Net fixed asset turnover
= (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales exhibited a generally upward trend over the observed periods, increasing from $2,613 million in March 2020 to $3,554 million by June 2022. Although there was a slight decline in sales during the first quarter of 2021 to $2,902 million, sales rebounded strongly in the following quarters, reaching their highest level in June 2022. This pattern indicates resilience and growth in revenue generation after an initial dip, possibly reflecting demand recovery or effective sales strategies.
- Property, Plant, and Equipment, Net
- The net value of property, plant, and equipment steadily increased from $2,017 million in March 2020 to $2,446 million by June 2022. This continuous growth in fixed asset investment or retention suggests ongoing capital expenditures or asset enhancements, supporting the company’s operational capacity. The rate of increase appears moderate and consistent, indicating stable asset management without abrupt changes.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio, which measures the efficiency of fixed asset use in generating sales, showed a slight decline from 5.57 in March 2020 to a low of 5.03 in June 2021. Following this period, the ratio improved gradually to 5.43 by June 2022. This trend suggests initial reduced efficiency in asset utilization, potentially due to increased asset base outpacing sales growth temporarily, with subsequent recovery in operational effectiveness as sales growth resumed robustly.
Total Asset Turnover
Keurig Dr Pepper Inc., total asset turnover calculation (quarterly data)
| Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ 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. | ||||||||||||||
Based on: 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).
1 Q2 2022 Calculation
Total asset turnover
= (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales demonstrated a generally increasing trend over the observed quarters. Beginning at $2,613 million in March 2020, sales rose consistently through December 2020, peaking at $3,121 million. There was a slight dip in March 2021 to $2,902 million, followed by a steady recovery and growth across the following quarters, reaching $3,554 million by June 2022. This pattern indicates resilience and growth momentum in revenue generation despite minor fluctuations.
- Total Assets
- Total assets showed a gradual and steady increase throughout the examined periods. Starting from $48,843 million in March 2020, total assets grew with modest increments each quarter, reaching $51,428 million by June 2022. The consistency in growth suggests ongoing asset accumulation or retention strategies, reflecting stability in the company’s asset base.
- Total Asset Turnover
- The total asset turnover ratio displayed a slight upward trend, rising from 0.23 in March 2020 to 0.26 by June 2022. This incremental increase over time suggests improved efficiency in utilizing assets to generate sales. The ratio’s relatively narrow range, however, indicates that asset utilization efficiency remained relatively stable without significant volatility.
Equity Turnover
Keurig Dr Pepper Inc., equity turnover calculation (quarterly data)
| Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ 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. | ||||||||||||||
Based on: 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).
1 Q2 2022 Calculation
Equity turnover
= (Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021
+ Net salesQ3 2021)
÷ Stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales demonstrated a generally upward trajectory throughout the observed periods, beginning at 2,613 million US dollars in the first quarter of 2020 and reaching 3,554 million US dollars by the second quarter of 2022. There was a consistent quarter-over-quarter increase with only minor fluctuations, indicating growth in revenue generation capacity. Notably, net sales experienced a dip in the first quarter of 2021 after steady rises in 2020, but resumed growth thereafter.
- Stockholders’ Equity
- Stockholders’ equity showed a steady increase over the timeline, rising from 22,640 million US dollars at the first quarter of 2020 to a peak of 25,511 million US dollars by the first quarter of 2022. Despite slight fluctuations in the latter periods, the overall trend suggests that the company effectively retained earnings or raised equity capital, contributing to a stronger equity base. The equity values plateaued somewhat in the first half of 2022 but remained elevated compared to earlier periods.
- Equity Turnover
- The equity turnover ratio remained relatively stable, fluctuating narrowly between 0.49 and 0.52 across the periods. This consistent ratio signifies a steady efficiency in utilizing equity to generate sales. Slight increases toward the end of the timeline suggest incremental improvements in how effectively the company is deploying its equity to achieve revenue.
- Overall Analysis
- The financial data displays positive performance indicators with expanding net sales and a growing equity base. The steady equity turnover ratio, coupled with rising sales and equity, indicates balanced growth and effective capital utilization. Minor dips in sales in certain quarters do not disrupt the overall upward trend, reflecting resilience in the company’s operational and financial performance.