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)
Meta Platforms Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio experienced a general downward trend over the observed periods. Beginning at 1.98, the ratio rose slightly to a peak of 2.09 in the third quarter of 2021 before steadily declining to 1.18 by the third quarter of 2025. This indicates a decreasing efficiency in generating sales revenue from fixed assets over time.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- When including operating lease right-of-use assets, the net fixed asset turnover ratio similarly decreased from 1.63 to 1.07 during the same timeframe. The ratio peaked in the third quarter of 2021 and then followed a generally steady decline, reflecting a reduced capacity to convert these assets into sales revenue.
- Total Asset Turnover
- Total asset turnover showed an initial upward trend, increasing from 0.58 in the first quarter of 2021 to a peak of 0.73 in the first quarter of 2022. After this peak, the ratio declined to around 0.58 in mid-2023 and fluctuated moderately between 0.58 and 0.65 thereafter. By the third quarter of 2025, the ratio demonstrated a slight recovery to 0.62, suggesting a stabilization in asset utilization efficiency in recent periods.
- Equity Turnover
- Equity turnover increased steadily from 0.71 in the first quarter of 2021 to a high of 0.97 in the first quarter of 2022. Following this, it showed a mild decline and some fluctuations around the 0.9 level, concluding with a modest increase to 0.98 by the third quarter of 2025. This pattern suggests relatively stable but slightly enhanced efficiency in generating revenue from shareholders' equity over time.
Net Fixed Asset Turnover
Meta Platforms Inc., net fixed asset turnover calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Revenue | 51,242) | 47,516) | 42,314) | 48,386) | 40,589) | 39,071) | 36,455) | 40,112) | 34,146) | 31,999) | 28,645) | 32,165) | 27,714) | 28,822) | 27,908) | 33,671) | 29,010) | 29,077) | 26,171) | ||||||
| Property and equipment, net | 160,270) | 147,039) | 133,567) | 121,346) | 112,162) | 102,959) | 98,908) | 96,587) | 91,772) | 87,949) | 84,156) | 79,518) | 73,738) | 67,588) | 61,582) | 57,809) | 53,726) | 50,909) | 47,720) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Net fixed asset turnover1 | 1.18 | 1.22 | 1.28 | 1.36 | 1.39 | 1.45 | 1.44 | 1.40 | 1.38 | 1.37 | 1.39 | 1.47 | 1.60 | 1.77 | 1.94 | 2.04 | 2.09 | 2.06 | 1.98 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| Alphabet Inc. | 1.72 | 1.83 | 1.94 | 2.05 | 2.11 | 2.17 | 2.22 | 2.29 | 2.36 | 2.39 | 2.42 | 2.51 | 2.60 | 2.62 | 2.59 | 2.64 | 2.53 | 2.40 | 2.25 | ||||||
| Comcast Corp. | 1.90 | 1.94 | 1.95 | 1.98 | 1.99 | 2.00 | 2.04 | 2.04 | 2.08 | 2.12 | 2.13 | 2.19 | 2.26 | 2.27 | 2.23 | 2.15 | 2.15 | 2.07 | 1.99 | ||||||
| Netflix Inc. | 23.60 | 23.91 | 24.43 | 24.47 | 23.97 | 24.03 | 23.27 | 22.61 | 21.85 | 21.83 | 22.58 | 22.61 | 22.93 | 22.78 | 21.97 | 22.44 | 23.47 | 24.91 | 25.99 | ||||||
| Trade Desk Inc. | — | 8.64 | 10.24 | 11.68 | 11.67 | 11.33 | 13.65 | 12.06 | 11.98 | 10.84 | 9.65 | 9.08 | 8.93 | 9.98 | 9.89 | 8.81 | 8.16 | 8.30 | 7.72 | ||||||
| Walt Disney Co. | 2.35 | 2.41 | 2.43 | 2.47 | 2.50 | 2.51 | 2.52 | 2.54 | 2.54 | 2.52 | 2.47 | 2.46 | 2.42 | 2.33 | 2.23 | 2.07 | 1.96 | 1.82 | 1.88 | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
1 Q3 2025 Calculation
Net fixed asset turnover
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ Property and equipment, net
= (51,242 + 47,516 + 42,314 + 48,386)
÷ 160,270 = 1.18
2 Click competitor name to see calculations.
- Revenue Trend
- The revenue displays a generally increasing trajectory over the periods analyzed. Starting at approximately $26.2 billion at the end of Q1 2021, revenue increased with minor fluctuations, reaching around $40.1 billion by Q4 2023. The most notable growth phases include the jumps from Q4 2023 to Q1 2024 and again a marked rise in 2025, culminating in revenues above $51 billion by Q3 2025. Despite some quarters showing slight declines or stagnation, the overall pattern is one of strong and sustained top-line growth.
- Property and Equipment, Net
- The net value of property and equipment demonstrates a consistent upward trend throughout the entire period. Beginning at roughly $47.7 billion in Q1 2021, the asset base expands steadily each quarter, reaching approximately $160.3 billion by Q3 2025. This growth suggests ongoing capital investments, possibly in infrastructure or technology assets, reflecting the company’s expansion or modernization efforts.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio shows a declining trend over the periods observed. Initially, the ratio stood near 1.98 in Q1 2021, indicating strong efficiency in generating revenue relative to fixed assets. Over time, this ratio declines progressively, reaching around 1.18 by Q3 2025. This decrease suggests that while assets are increasing substantially, revenue growth has not kept pace with this expansion on a proportional basis, possibly indicating diminishing returns on new fixed asset investments or a shift towards more asset-intensive operations.
- Analysis Summary
- Overall, the company exhibits robust revenue growth accompanied by significant increases in property and equipment assets. However, the decreasing net fixed asset turnover ratio may point to capital investments that are not yet translating into proportional revenue gains. This could imply a strategic focus on long-term capacity building or a transition in asset utilization efficiency. Continuous monitoring of asset productivity alongside revenue will be essential to evaluate the effectiveness of capital deployment strategies.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Meta Platforms Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Revenue | 51,242) | 47,516) | 42,314) | 48,386) | 40,589) | 39,071) | 36,455) | 40,112) | 34,146) | 31,999) | 28,645) | 32,165) | 27,714) | 28,822) | 27,908) | 33,671) | 29,010) | 29,077) | 26,171) | ||||||
| Property and equipment, net | 160,270) | 147,039) | 133,567) | 121,346) | 112,162) | 102,959) | 98,908) | 96,587) | 91,772) | 87,949) | 84,156) | 79,518) | 73,738) | 67,588) | 61,582) | 57,809) | 53,726) | 50,909) | 47,720) | ||||||
| Operating lease right-of-use assets | 17,372) | 15,662) | 15,505) | 14,922) | 14,812) | 14,058) | 13,555) | 13,294) | 13,033) | 12,955) | 12,899) | 12,673) | 13,641) | 14,130) | 12,241) | 12,155) | 11,063) | 10,525) | 10,202) | ||||||
| Property and equipment, net (including operating lease, right-of-use asset) | 177,642) | 162,701) | 149,072) | 136,268) | 126,974) | 117,017) | 112,463) | 109,881) | 104,805) | 100,904) | 97,055) | 92,191) | 87,379) | 81,718) | 73,823) | 69,964) | 64,789) | 61,434) | 57,922) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 1.07 | 1.10 | 1.14 | 1.21 | 1.23 | 1.28 | 1.27 | 1.23 | 1.21 | 1.19 | 1.21 | 1.26 | 1.35 | 1.46 | 1.62 | 1.69 | 1.73 | 1.71 | 1.63 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||||||||||||||||||||
| Alphabet Inc. | 1.62 | 1.71 | 1.81 | 1.90 | 1.94 | 1.99 | 2.03 | 2.07 | 2.12 | 2.13 | 2.16 | 2.23 | 2.31 | 2.33 | 2.31 | 2.33 | 2.22 | 2.10 | 1.96 | ||||||
| Trade Desk Inc. | — | 4.62 | 4.85 | 5.17 | 5.24 | 5.16 | 5.83 | 5.42 | 5.07 | 4.66 | 4.30 | 4.00 | 3.73 | 3.81 | 3.59 | 3.23 | 2.95 | 2.80 | 2.53 | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
1 Q3 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ Property and equipment, net (including operating lease, right-of-use asset)
= (51,242 + 47,516 + 42,314 + 48,386)
÷ 177,642 = 1.07
2 Click competitor name to see calculations.
- Revenue Trends
- The revenue exhibits a general upward trend over the analyzed period. Starting at $26,171 million in the first quarter of 2021, revenue shows fluctuations with intermittent decreases followed by recoveries. Significant revenue growth is observed in the final quarters of 2023 and throughout 2024 and early 2025, reaching a peak of $51,242 million in the third quarter of 2025. This indicates an overall strong performance with cyclical variations but sustained long-term growth.
- Property and Equipment, Net
- The net value of property and equipment, including operating lease right-of-use assets, steadily increases throughout the period. Beginning at $57,922 million in early 2021, it consistently grows each quarter without any declines, reaching $177,642 million by the third quarter of 2025. This continuous expansion suggests ongoing investment in fixed assets and infrastructure, supporting the company's capacity growth and operational capabilities over time.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio reveals a declining trend, starting at 1.63 in the first quarter of 2021 and falling to 1.07 by the third quarter of 2025. This ratio represents revenue generated per unit of net fixed assets, and its decrease indicates that asset growth outpaces revenue expansion. The ratio experiences the steepest decline between the first quarter of 2022 and the end of 2023, followed by a period of relative stabilization and minor fluctuations around the 1.2 to 1.3 range before resuming a gradual downward trajectory.
- Summary Insights
- While revenue shows strong growth overall, the fixed assets base grows even faster, as evidenced by the rising net property and equipment values and the decreasing net fixed asset turnover ratio. This suggests accelerated capital expenditure to support future revenue growth, though the efficiency of asset utilization is gradually declining. The company appears to be investing heavily in its asset base, potentially to support expansion or technological upgrades, but with diminishing marginal returns in terms of revenue generation per asset dollar. Monitoring the balance between asset growth and revenue generation will be crucial to ensure sustainable profitability.
Total Asset Turnover
Meta Platforms Inc., total asset turnover calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Revenue | 51,242) | 47,516) | 42,314) | 48,386) | 40,589) | 39,071) | 36,455) | 40,112) | 34,146) | 31,999) | 28,645) | 32,165) | 27,714) | 28,822) | 27,908) | 33,671) | 29,010) | 29,077) | 26,171) | ||||||
| Total assets | 303,844) | 294,744) | 280,213) | 276,054) | 256,408) | 230,238) | 222,844) | 229,623) | 216,274) | 206,688) | 184,491) | 185,727) | 178,894) | 169,779) | 164,218) | 165,987) | 169,585) | 170,609) | 163,523) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Total asset turnover1 | 0.62 | 0.61 | 0.61 | 0.60 | 0.61 | 0.65 | 0.64 | 0.59 | 0.59 | 0.58 | 0.64 | 0.63 | 0.66 | 0.70 | 0.73 | 0.71 | 0.66 | 0.61 | 0.58 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| Alphabet Inc. | 0.72 | 0.74 | 0.76 | 0.78 | 0.79 | 0.79 | 0.78 | 0.76 | 0.75 | 0.76 | 0.77 | 0.77 | 0.79 | 0.78 | 0.76 | 0.72 | 0.69 | 0.66 | 0.60 | ||||||
| Comcast Corp. | 0.45 | 0.45 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.47 | 0.48 | 0.46 | 0.44 | 0.42 | 0.41 | 0.39 | 0.37 | ||||||
| Netflix Inc. | 0.79 | 0.79 | 0.77 | 0.73 | 0.72 | 0.74 | 0.72 | 0.69 | 0.66 | 0.63 | 0.64 | 0.65 | 0.66 | 0.67 | 0.67 | 0.67 | 0.67 | 0.67 | 0.66 | ||||||
| Trade Desk Inc. | — | 0.45 | 0.45 | 0.40 | 0.42 | 0.42 | 0.44 | 0.40 | 0.41 | 0.40 | 0.41 | 0.36 | 0.38 | 0.38 | 0.38 | 0.33 | 0.37 | 0.37 | 0.34 | ||||||
| Walt Disney Co. | 0.48 | 0.48 | 0.47 | 0.47 | 0.46 | 0.46 | 0.45 | 0.43 | 0.43 | 0.42 | 0.42 | 0.41 | 0.40 | 0.38 | 0.36 | 0.33 | 0.31 | 0.29 | 0.30 | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
1 Q3 2025 Calculation
Total asset turnover
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ Total assets
= (51,242 + 47,516 + 42,314 + 48,386)
÷ 303,844 = 0.62
2 Click competitor name to see calculations.
- Revenue Trends
-
Revenue demonstrated a generally upward trajectory over the analyzed quarters, with intermittent fluctuations. Initially, revenue increased from 26,171 million USD in March 2021 to a peak of 33,671 million USD in December 2021. Subsequently, the figures showed some variability, descending and rising across quarters within 2022 and early 2023. Starting in the latter part of 2023, revenue entered a phase of robust growth, climbing significantly each quarter and reaching 51,242 million USD by September 2025. This pattern suggests strengthening sales or service demand, particularly notable in the last four quarters.
- Total Assets Trends
-
Total assets exhibited steady growth throughout the period under review. From a base of 163,523 million USD in March 2021, total assets increased consistently, with minor deceleration around the end of 2022 but quickly recovering thereafter. By September 2025, total assets reached 303,844 million USD, reflecting substantial asset accumulation or capital investment over these years. This expansion indicates enhanced asset capacity, possibly through acquisitions, investments, or organic growth in asset holdings.
- Total Asset Turnover Trends
-
Total asset turnover ratio showed moderate fluctuations during the timeframe. Initially, it rose from 0.58 in March 2021 to a peak of 0.73 by March 2022, indicating improved efficiency in generating revenue from assets. Following this peak, the ratio experienced a gradual decline, settling around 0.58 to 0.62 in the latest quarters, suggesting a stabilization of asset utilization efficiency. Although the ratio softened after early 2022, the values remained near the 0.6 mark, indicative of consistent, albeit slightly diminished, asset productivity relative to revenue.
- Summary Insights
-
The company showed significant revenue growth, especially from late 2023 into 2025, accompanied by continuous asset growth, underscoring effective scaling of operations. The total asset turnover ratio's peak and subsequent moderation imply an initial phase of improving asset use efficiency followed by a period of stabilization. Overall, the data reveals expansion in both scale and financial throughput, with asset growth slightly outpacing revenue gains in the more recent periods, reflected in the modest decline in turnover ratio. The trends suggest a maturing stage of asset utilization aligned with growing revenue streams.
Equity Turnover
Meta Platforms Inc., equity turnover calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Revenue | 51,242) | 47,516) | 42,314) | 48,386) | 40,589) | 39,071) | 36,455) | 40,112) | 34,146) | 31,999) | 28,645) | 32,165) | 27,714) | 28,822) | 27,908) | 33,671) | 29,010) | 29,077) | 26,171) | ||||||
| Stockholders’ equity | 194,066) | 195,070) | 185,029) | 182,637) | 164,529) | 156,763) | 149,529) | 153,168) | 142,873) | 134,033) | 124,795) | 125,713) | 124,094) | 125,767) | 123,228) | 124,879) | 133,360) | 138,227) | 133,657) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Equity turnover1 | 0.98 | 0.92 | 0.92 | 0.90 | 0.95 | 0.96 | 0.95 | 0.88 | 0.89 | 0.90 | 0.94 | 0.93 | 0.95 | 0.95 | 0.97 | 0.94 | 0.84 | 0.76 | 0.71 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||
| Alphabet Inc. | 1.00 | 1.02 | 1.04 | 1.08 | 1.08 | 1.09 | 1.09 | 1.08 | 1.09 | 1.08 | 1.09 | 1.10 | 1.11 | 1.09 | 1.06 | 1.02 | 0.98 | 0.93 | 0.86 | ||||||
| Comcast Corp. | 1.27 | 1.28 | 1.43 | 1.45 | 1.43 | 1.46 | 1.48 | 1.47 | 1.46 | 1.43 | 1.46 | 1.50 | 1.51 | 1.33 | 1.27 | 1.21 | 1.19 | 1.15 | 1.13 | ||||||
| Netflix Inc. | 1.67 | 1.67 | 1.67 | 1.58 | 1.65 | 1.64 | 1.63 | 1.64 | 1.48 | 1.41 | 1.46 | 1.52 | 1.53 | 1.63 | 1.73 | 1.87 | 1.87 | 1.99 | 2.05 | ||||||
| Trade Desk Inc. | — | 0.99 | 0.95 | 0.83 | 0.88 | 0.90 | 0.95 | 0.90 | 0.85 | 0.84 | 0.85 | 0.75 | 0.77 | 0.78 | 0.78 | 0.78 | 0.86 | 0.86 | 0.83 | ||||||
| Walt Disney Co. | 0.87 | 0.90 | 0.91 | 0.91 | 0.89 | 0.90 | 0.88 | 0.90 | 0.90 | 0.89 | 0.88 | 0.87 | 0.88 | 0.85 | 0.81 | 0.76 | 0.73 | 0.68 | 0.72 | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 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).
1 Q3 2025 Calculation
Equity turnover
= (RevenueQ3 2025
+ RevenueQ2 2025
+ RevenueQ1 2025
+ RevenueQ4 2024)
÷ Stockholders’ equity
= (51,242 + 47,516 + 42,314 + 48,386)
÷ 194,066 = 0.98
2 Click competitor name to see calculations.
The quarterly financial data reveals several notable trends in the company's performance across the reported periods.
- Revenue
- Revenue displays a general upward trajectory with fluctuations across quarters. Initially, revenue rose from approximately 26,171 million USD to a peak around 33,671 million USD by the end of 2021. This was followed by a reduction during early 2022, dipping near 27,714 million USD in the third quarter but rebounding sharply towards the end of 2023 and further into 2024 and 2025, reaching a high of approximately 51,242 million USD by the third quarter of 2025. The data suggests periods of volatility but overall consistent growth, especially prominent in the latest years.
- Stockholders’ Equity
- The stockholders’ equity figures exhibit a less consistent pattern compared to revenue. It started at 133,657 million USD in early 2021, showing mild fluctuations and a slight decrease approaching 124,879 million USD by the end of 2021. Following this, there is a gradual recovery, with equity increasing steadily from 124,795 million USD in early 2023 to a peak of around 195,070 million USD by the third quarter of 2025. The equity growth over time indicates strengthened capital structure and retained earnings accumulation, supporting the company’s expanding operations.
- Equity Turnover
- Equity turnover ratios begin at 0.71 and progressively increase to 0.94 by the end of 2021, indicating improving efficiency in generating revenue from equity. The ratio stabilizes around 0.9 in the subsequent periods with minor fluctuations between 0.88 and 0.98. These values suggest a relatively consistent use of equity in generating revenues over the medium term, with slight variations that do not point to significant operational inefficiencies or changes in asset utilization.
Overall, the company demonstrates positive revenue growth outpacing equity growth, which suggests improving financial leverage and capital efficiency. The equity turnover metric’s steadiness around the 0.9 range further supports the perspective of stable operational effectiveness in relation to equity. Despite some short-term revenue volatility, the underlying trend is upward, supported by solid equity increases. These patterns reflect a strengthening financial position and enhanced capacity for revenue generation over the analyzed period.