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 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 (quarterly data)
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), 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).
The analysis of turnover ratios over the specified periods reveals the following trends and insights regarding operational efficiency and asset utilization:
- Net Fixed Asset Turnover
- This ratio, indicating sales generated per unit of net fixed assets, showed moderate fluctuations throughout the observed quarters. Starting at 5.48 in March 2020, it rose slightly to a peak of 5.57 in June 2020, followed by a gradual decline reaching 5.03 in September 2021. Subsequently, there was a recovery to 5.43 by June 2022. Overall, the ratio remained within a narrow band around 5 to 5.5, suggesting relatively consistent efficiency in the use of fixed assets for generating revenue, with slight variability possibly reflecting seasonal or operational factors.
- Total Asset Turnover
- This metric, reflecting the ability to generate sales from total assets, exhibited a steady upward trend over the time frame. Beginning at 0.22 in March 2020, it incrementally increased each period, reaching 0.26 by June 2022. This gradual improvement points to enhanced overall asset utilization, indicating that the company has become more effective in leveraging its total asset base to produce revenues.
- Equity Turnover
- The equity turnover ratio, which measures sales relative to shareholder equity, demonstrated a slight upward trend with minor fluctuations. It rose from 0.48 in March 2020 to 0.52 in June 2022, with interim periods showing slight decreases and recoveries. This pattern suggests a modest increase in the efficiency with which the company employs its equity to generate sales, maintaining a relatively stable relationship over the analyzed quarters.
In summary, the data reveals consistent and incremental improvements in total asset and equity turnover ratios, indicating progressively better utilization of company resources to drive sales. The net fixed asset turnover shows more variability but retains overall stability, reflecting consistent fixed asset efficiency amidst operational dynamics.
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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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), 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 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.
The net sales exhibit a generally increasing trend over the presented periods, with some fluctuations. Initially, net sales rose from 2,504 million US dollars in March 2019 to a peak of 3,391 million US dollars in December 2021. A slight decline follows in March 2022, but the upward trajectory resumes in June 2022, reaching the highest value within the period at 3,554 million US dollars. The data shows resilience and growth despite minor temporary dips, indicating strong sales performance overall.
Property, plant and equipment, net, reveals relative stability with minor variations. Beginning at 2,282 million US dollars in March 2019, it experienced a modest decline towards the end of 2019 and early 2020, reaching around 2,017 million US dollars in March 2020. Afterwards, a gradual recovery and moderate growth are observed until December 2021, peaking at approximately 2,494 million US dollars. The asset base then slightly decreases by June 2022, settling at 2,446 million US dollars. This pattern suggests periodic investment and asset management adjustments without sharp fluctuations.
Regarding the net fixed asset turnover ratio, data is available from December 2019 onwards. The ratio starts at 5.48 and remains relatively stable around the mid-5 range throughout the subsequent quarters, with minor oscillations. It dips slightly below 5.1 in the quarters ending September and December 2021, but recovers to 5.28 and 5.43 in the first two quarters of 2022 respectively. This indicates a consistent ability to generate sales from fixed assets, with some moderate efficiency improvements in the latest quarters.
- Summary of findings
- Net sales demonstrate robust growth over the analyzed periods, with temporary downturns quickly reversed.
- The net value of property, plant and equipment shows relatively stable investment levels, punctuated by minor declines and recoveries.
- The net fixed asset turnover maintains a steady level, reflecting stable operational efficiency related to asset utilization, with slight improvement in recent periods.
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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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), 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 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.
The analysis reveals several trends and patterns across the examined quarters. Net sales exhibit a generally upward trajectory with fluctuations that correspond to seasonal or market factors. Starting from a base of 2,504 million US dollars in the first quarter of 2019, net sales increased steadily throughout 2019, peaking at 3,391 million US dollars in the fourth quarter of 2021. A slight dip is observed in the first quarter of 2022, followed by a notable increase again in the following quarter reaching 3,554 million US dollars, the highest value in the presented period.
Total assets show a stable and gradual increase throughout the period. Beginning at approximately 49,291 million US dollars in early 2019, total assets exhibit only minor fluctuations but maintain an upward trend to reach around 51,428 million US dollars by the second quarter of 2022. This indicates consistent asset growth and suggests steady investment or accumulation of resources over time.
The total asset turnover ratio, available only from the last quarter of 2019, indicates efficiency in utilizing assets to generate sales. The ratio starts at 0.22 and remains relatively stable around 0.23 through 2020, then shows gradual improvement to 0.26 by mid-2022. This gradual increase points to enhanced operational efficiency, where the company is generating more sales per unit of asset value.
- Summary of Key Observations
-
- Net sales demonstrate growth with periodic variations, reaching the highest level in mid-2022 after some seasonal fluctuations.
- Total assets increase steadily over time, reflecting stable asset management and growth.
- Improvement in total asset turnover ratio suggests increasing effectiveness in asset utilization.
Overall, the data suggests a positive business performance trend, characterized by growing sales, stable asset accumulation, and improving asset turnover efficiency over the analyzed periods.
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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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), 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 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.
The quarterly financial data reveal several noteworthy trends and patterns in the company's performance and financial position over the observed periods.
- Net Sales
-
Net sales exhibit a generally upward trajectory from March 2019 through June 2022. There is a noticeable seasonal or cyclical pattern with quarterly fluctuations, but the overall direction is growth-oriented. After an initial rise from $2,504 million in March 2019 to a peak of $3,391 million in December 2021, there was a slight dip to $3,078 million by March 2022, followed by a strong recovery to $3,554 million by June 2022. This indicates resilience and strength in revenue generation across multiple cycles, including during the challenging period around March to June 2020.
- Stockholders’ Equity
-
Stockholders’ equity remains relatively stable with a gradual increase over the timeframe. Starting at $22,674 million in March 2019, it slightly fluctuates but develops a positive trend, reaching $25,391 million by June 2022. This steady growth reflects a consistent build-up of shareholder value, likely through retained earnings or capital inflows, without extreme volatility or decline.
- Equity Turnover Ratio
-
Equity turnover data, available from March 2020 onward, shows a narrow range between 0.48 and 0.52. This ratio remains fairly stable, suggesting that the company’s efficiency in utilizing its equity to generate net sales is consistent over time. A slight upward trend is visible toward the end of the period, implying marginal improvements in equity utilization efficiency as net sales increase.
In summary, the data illustrate a company that is growing its sales steadily while maintaining a strong equity base and consistent operational efficiency as measured by equity turnover. The company's ability to increase sales after minor setbacks and keep equity stable highlights financial stability and operational effectiveness throughout the analyzed quarters.