Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Ratios (Summary)
Net Fixed Asset Turnover
Total Asset Turnover
Equity Turnover

Microsoft Corp., long-term (investment) activity ratios (quarterly data)

		Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012
	Net fixed asset turnover
	Total asset turnover
	Equity turnover

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Microsoft Corp.’s net fixed asset turnover deteriorated from Q1 2019 to Q2 2019 but then slightly improved from Q2 2019 to Q3 2019.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Microsoft Corp.’s total asset turnover improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Microsoft Corp.’s equity turnover deteriorated from Q1 2019 to Q2 2019 but then slightly improved from Q2 2019 to Q3 2019.

Microsoft Corp., net fixed asset turnover calculation (quarterly data)

		Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012
	Selected Financial Data (USD $ in millions)
	Revenue
	Property and equipment, net of accumulated depreciation
	Ratio
	Net fixed asset turnover¹

Q3 2019 Calculations

¹ Net fixed asset turnover = (Revenue_{Q3 2019} + Revenue_{Q2 2019} + Revenue_{Q1 2019} + Revenue_{Q4 2018}) ÷ Property and equipment, net of accumulated depreciation
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Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Microsoft Corp.’s net fixed asset turnover deteriorated from Q1 2019 to Q2 2019 but then slightly improved from Q2 2019 to Q3 2019.

Microsoft Corp., total asset turnover calculation (quarterly data)

		Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012
	Selected Financial Data (USD $ in millions)
	Revenue
	Total assets
	Ratio
	Total asset turnover¹

Q3 2019 Calculations

¹ Total asset turnover = (Revenue_{Q3 2019} + Revenue_{Q2 2019} + Revenue_{Q1 2019} + Revenue_{Q4 2018}) ÷ Total assets
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Ratio	Description	The company
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Microsoft Corp.’s total asset turnover improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Microsoft Corp., equity turnover calculation (quarterly data)

		Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012
	Selected Financial Data (USD $ in millions)
	Revenue
	Stockholders’ equity
	Ratio
	Equity turnover¹

Q3 2019 Calculations

¹ Equity turnover = (Revenue_{Q3 2019} + Revenue_{Q2 2019} + Revenue_{Q1 2019} + Revenue_{Q4 2018}) ÷ Stockholders’ equity
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Ratio	Description	The company
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Microsoft Corp.’s equity turnover deteriorated from Q1 2019 to Q2 2019 but then slightly improved from Q2 2019 to Q3 2019.

	Microsoft Corp.	Other companies (not purchased previously)
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Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
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Microsoft Corp. (MSFT)

Long-term (Investment) Activity Analysis
Quarterly Data

Ratios (Summary)

Net Fixed Asset Turnover

Total Asset Turnover

Equity Turnover

Microsoft Corp. (MSFT)

Long-term (Investment) Activity AnalysisQuarterly Data

Ratios (Summary)

Net Fixed Asset Turnover

Total Asset Turnover

Equity Turnover

Long-term (Investment) Activity Analysis
Quarterly Data