Analysis of Short-term (Operating) 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.
Short-term Activity Ratios (Summary)
Steel Dynamics Inc., short-term (operating) activity ratios (quarterly data)
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Steel Dynamics Inc. inventory turnover ratio improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Steel Dynamics Inc. receivables turnover ratio deteriorated from Q1 2022 to Q2 2022 but then improved from Q2 2022 to Q3 2022 exceeding Q1 2022 level. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Steel Dynamics Inc. payables turnover ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 exceeding Q1 2022 level. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Steel Dynamics Inc. working capital turnover ratio deteriorated from Q1 2022 to Q2 2022 but then slightly improved from Q2 2022 to Q3 2022. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Steel Dynamics Inc. number of days of inventory outstanding improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Steel Dynamics Inc. number of days of receivables outstanding deteriorated from Q1 2022 to Q2 2022 but then improved from Q2 2022 to Q3 2022 exceeding Q1 2022 level. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Steel Dynamics Inc. operating cycle improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Steel Dynamics Inc. number of days of payables outstanding increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022. |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Steel Dynamics Inc. cash conversion cycle improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022. |
Inventory Turnover
Steel Dynamics Inc., inventory turnover calculation (quarterly data)
| Sep 30, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Costs of goods sold | 4,187,278) | 4,329,536) | 3,787,389) | 3,548,820) | 3,487,659) | 3,265,616) | 2,744,331) | 2,158,992) | 2,038,017) | 1,809,874) | 2,159,871) | 2,033,787) | 2,167,006) | 2,349,349) | 2,383,865) | 2,382,657) | 2,537,466) | 2,438,443) | 2,140,459) | 2,015,655) | 2,046,864) | 1,998,202) | 1,896,062) | |||||||
| Inventories | 3,376,532) | 3,647,061) | 3,516,815) | 3,531,130) | 2,894,970) | 2,481,832) | 2,217,534) | 1,843,548) | 1,609,216) | 1,567,017) | 1,644,538) | 1,689,043) | 1,767,020) | 1,802,759) | 1,867,700) | 1,859,168) | 1,853,862) | 1,787,109) | 1,600,058) | 1,519,347) | 1,487,516) | 1,418,732) | 1,361,550) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Inventory turnover1 | 4.70 | 4.15 | 4.01 | 3.69 | 4.03 | 4.11 | 3.95 | 4.43 | 5.00 | 5.21 | 5.30 | 5.29 | 5.25 | 5.35 | 5.22 | 5.11 | 4.93 | 4.84 | 5.13 | 5.24 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 3.07 | 3.09 | 3.25 | 3.12 | 3.25 | 3.01 | 2.84 | 2.99 | 3.08 | 3.19 | 3.34 | 3.22 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Newmont Corp. | 6.23 | 6.56 | 5.88 | 5.84 | 5.26 | 5.34 | 5.08 | 5.21 | 5.21 | 5.45 | 5.71 | 5.12 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Inventory turnover
= (Costs of goods soldQ3 2022
+ Costs of goods soldQ2 2022
+ Costs of goods soldQ1 2022
+ Costs of goods soldQ4 2021)
÷ Inventories
= (4,187,278 + 4,329,536 + 3,787,389 + 3,548,820)
÷ 3,376,532 = 4.70
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Steel Dynamics Inc. inventory turnover ratio improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022. |
Receivables Turnover
Steel Dynamics Inc., receivables turnover calculation (quarterly data)
| Sep 30, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Net sales | 5,651,707) | 6,212,878) | 5,569,902) | 5,310,657) | 5,088,288) | 4,465,308) | 3,544,597) | 2,601,245) | 2,330,832) | 2,094,305) | 2,575,100) | 2,350,196) | 2,526,845) | 2,770,515) | 2,817,435) | 2,903,892) | 3,223,547) | 3,090,525) | 2,603,875) | 2,336,479) | 2,443,382) | 2,390,720) | 2,368,216) | |||||||
| Accounts receivable, net | 2,333,994) | 2,660,715) | 2,363,668) | 1,916,434) | 1,892,795) | 1,571,024) | 1,366,463) | 971,918) | 918,842) | 844,056) | 998,408) | 844,336) | 986,946) | 1,072,879) | 1,143,395) | 1,043,756) | 1,228,190) | 1,180,183) | 987,655) | 868,837) | 923,017) | 886,894) | 883,147) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Receivables turnover1 | 9.75 | 8.34 | 8.65 | 9.61 | 8.29 | 8.24 | 7.74 | 9.88 | 10.18 | 11.31 | 10.24 | 12.39 | 11.16 | 10.92 | 10.53 | 11.33 | 9.16 | 8.88 | 9.90 | 10.98 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 27.47 | 24.84 | 16.00 | 19.56 | 22.75 | 17.22 | 13.02 | 15.92 | 15.25 | 18.01 | 26.03 | 19.44 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Newmont Corp. | 41.89 | 33.97 | 29.96 | 36.27 | 36.57 | 36.62 | 44.82 | 25.61 | 34.21 | 41.67 | 47.81 | 26.11 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Receivables turnover
= (Net salesQ3 2022
+ Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021)
÷ Accounts receivable, net
= (5,651,707 + 6,212,878 + 5,569,902 + 5,310,657)
÷ 2,333,994 = 9.75
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Steel Dynamics Inc. receivables turnover ratio deteriorated from Q1 2022 to Q2 2022 but then improved from Q2 2022 to Q3 2022 exceeding Q1 2022 level. |
Payables Turnover
Steel Dynamics Inc., payables turnover calculation (quarterly data)
| Sep 30, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Costs of goods sold | 4,187,278) | 4,329,536) | 3,787,389) | 3,548,820) | 3,487,659) | 3,265,616) | 2,744,331) | 2,158,992) | 2,038,017) | 1,809,874) | 2,159,871) | 2,033,787) | 2,167,006) | 2,349,349) | 2,383,865) | 2,382,657) | 2,537,466) | 2,438,443) | 2,140,459) | 2,015,655) | 2,046,864) | 1,998,202) | 1,896,062) | |||||||
| Accounts payable | 1,165,147) | 1,380,814) | 1,213,558) | 1,280,555) | 1,220,437) | 1,183,604) | 1,134,672) | 769,455) | 715,681) | 701,932) | 612,160) | 513,344) | 528,629) | 525,156) | 591,467) | 550,754) | 611,028) | 675,801) | 562,618) | 489,448) | 528,683) | 484,003) | 530,958) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Payables turnover1 | 13.61 | 10.97 | 11.61 | 10.19 | 9.55 | 8.62 | 7.71 | 10.61 | 11.24 | 11.64 | 14.23 | 17.40 | 17.56 | 18.38 | 16.47 | 17.25 | 14.95 | 12.79 | 14.58 | 16.26 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Newmont Corp. | 10.93 | 10.38 | 11.45 | 10.49 | 10.54 | 10.24 | 11.05 | 10.17 | 12.24 | 11.08 | 10.90 | 9.64 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Payables turnover
= (Costs of goods soldQ3 2022
+ Costs of goods soldQ2 2022
+ Costs of goods soldQ1 2022
+ Costs of goods soldQ4 2021)
÷ Accounts payable
= (4,187,278 + 4,329,536 + 3,787,389 + 3,548,820)
÷ 1,165,147 = 13.61
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Steel Dynamics Inc. payables turnover ratio decreased from Q1 2022 to Q2 2022 but then increased from Q2 2022 to Q3 2022 exceeding Q1 2022 level. |
Working Capital Turnover
Steel Dynamics Inc., working capital turnover calculation (quarterly data)
| Sep 30, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||||
| Current assets | 7,813,444) | 7,756,010) | 7,149,635) | 6,901,023) | 5,987,572) | 5,265,109) | 4,896,906) | 4,258,447) | 3,854,895) | 4,016,120) | 4,142,968) | 4,253,025) | 4,020,320) | 4,023,601) | 4,028,890) | 4,032,657) | 4,131,477) | 3,817,664) | 3,652,242) | 3,508,342) | 3,572,145) | 3,251,657) | 3,244,965) | |||||||
| Less: Current liabilities | 2,131,396) | 2,201,872) | 2,090,646) | 2,227,369) | 2,054,289) | 1,852,245) | 1,661,189) | 1,258,787) | 1,175,628) | 1,115,426) | 1,031,720) | 1,006,698) | 1,005,275) | 925,736) | 1,003,090) | 1,019,137) | 1,049,665) | 1,058,586) | 860,740) | 868,519) | 1,066,529) | 795,892) | 881,447) | |||||||
| Working capital | 5,682,048) | 5,554,138) | 5,058,989) | 4,673,654) | 3,933,283) | 3,412,864) | 3,235,717) | 2,999,660) | 2,679,267) | 2,900,694) | 3,111,248) | 3,246,327) | 3,015,045) | 3,097,865) | 3,025,800) | 3,013,520) | 3,081,812) | 2,759,078) | 2,791,502) | 2,639,823) | 2,505,616) | 2,455,765) | 2,363,518) | |||||||
| Net sales | 5,651,707) | 6,212,878) | 5,569,902) | 5,310,657) | 5,088,288) | 4,465,308) | 3,544,597) | 2,601,245) | 2,330,832) | 2,094,305) | 2,575,100) | 2,350,196) | 2,526,845) | 2,770,515) | 2,817,435) | 2,903,892) | 3,223,547) | 3,090,525) | 2,603,875) | 2,336,479) | 2,443,382) | 2,390,720) | 2,368,216) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Working capital turnover1 | 4.00 | 3.99 | 4.04 | 3.94 | 3.99 | 3.79 | 3.27 | 3.20 | 3.49 | 3.29 | 3.29 | 3.22 | 3.65 | 3.78 | 3.98 | 3.92 | 3.65 | 3.80 | 3.50 | 3.61 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 2.47 | 2.37 | 2.78 | 2.56 | 2.56 | 2.68 | 2.60 | 2.41 | 2.74 | 3.04 | 3.18 | 3.06 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Newmont Corp. | 3.03 | 2.78 | 2.67 | 2.42 | 2.61 | 2.68 | 2.41 | 2.24 | 2.24 | 2.47 | 2.34 | 2.51 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Working capital turnover
= (Net salesQ3 2022
+ Net salesQ2 2022
+ Net salesQ1 2022
+ Net salesQ4 2021)
÷ Working capital
= (5,651,707 + 6,212,878 + 5,569,902 + 5,310,657)
÷ 5,682,048 = 4.00
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Steel Dynamics Inc. working capital turnover ratio deteriorated from Q1 2022 to Q2 2022 but then slightly improved from Q2 2022 to Q3 2022. |
Average Inventory Processing Period
Steel Dynamics Inc., average inventory processing period calculation (quarterly data)
| Sep 30, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Inventory turnover | 4.70 | 4.15 | 4.01 | 3.69 | 4.03 | 4.11 | 3.95 | 4.43 | 5.00 | 5.21 | 5.30 | 5.29 | 5.25 | 5.35 | 5.22 | 5.11 | 4.93 | 4.84 | 5.13 | 5.24 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||||
| Average inventory processing period1 | 78 | 88 | 91 | 99 | 91 | 89 | 92 | 82 | 73 | 70 | 69 | 69 | 69 | 68 | 70 | 71 | 74 | 75 | 71 | 70 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 119 | 118 | 112 | 117 | 112 | 121 | 129 | 122 | 118 | 114 | 109 | 113 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Newmont Corp. | 59 | 56 | 62 | 62 | 69 | 68 | 72 | 70 | 70 | 67 | 64 | 71 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 4.70 = 78
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Steel Dynamics Inc. number of days of inventory outstanding improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022. |
Average Receivable Collection Period
Steel Dynamics Inc., average receivable collection period calculation (quarterly data)
| Sep 30, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Receivables turnover | 9.75 | 8.34 | 8.65 | 9.61 | 8.29 | 8.24 | 7.74 | 9.88 | 10.18 | 11.31 | 10.24 | 12.39 | 11.16 | 10.92 | 10.53 | 11.33 | 9.16 | 8.88 | 9.90 | 10.98 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||||
| Average receivable collection period1 | 37 | 44 | 42 | 38 | 44 | 44 | 47 | 37 | 36 | 32 | 36 | 29 | 33 | 33 | 35 | 32 | 40 | 41 | 37 | 33 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 13 | 15 | 23 | 19 | 16 | 21 | 28 | 23 | 24 | 20 | 14 | 19 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Newmont Corp. | 9 | 11 | 12 | 10 | 10 | 10 | 8 | 14 | 11 | 9 | 8 | 14 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 9.75 = 37
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Steel Dynamics Inc. number of days of receivables outstanding deteriorated from Q1 2022 to Q2 2022 but then improved from Q2 2022 to Q3 2022 exceeding Q1 2022 level. |
Operating Cycle
Steel Dynamics Inc., operating cycle calculation (quarterly data)
No. days
| Sep 30, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Average inventory processing period | 78 | 88 | 91 | 99 | 91 | 89 | 92 | 82 | 73 | 70 | 69 | 69 | 69 | 68 | 70 | 71 | 74 | 75 | 71 | 70 | — | — | — | |||||||
| Average receivable collection period | 37 | 44 | 42 | 38 | 44 | 44 | 47 | 37 | 36 | 32 | 36 | 29 | 33 | 33 | 35 | 32 | 40 | 41 | 37 | 33 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Operating cycle1 | 115 | 132 | 133 | 137 | 135 | 133 | 139 | 119 | 109 | 102 | 105 | 98 | 102 | 101 | 105 | 103 | 114 | 116 | 108 | 103 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||||||
| Freeport-McMoRan Inc. | 132 | 133 | 135 | 136 | 128 | 142 | 157 | 145 | 142 | 134 | 123 | 132 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Newmont Corp. | 68 | 67 | 74 | 72 | 79 | 78 | 80 | 84 | 81 | 76 | 72 | 85 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 78 + 37 = 115
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Steel Dynamics Inc. operating cycle improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022. |
Average Payables Payment Period
Steel Dynamics Inc., average payables payment period calculation (quarterly data)
| Sep 30, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Payables turnover | 13.61 | 10.97 | 11.61 | 10.19 | 9.55 | 8.62 | 7.71 | 10.61 | 11.24 | 11.64 | 14.23 | 17.40 | 17.56 | 18.38 | 16.47 | 17.25 | 14.95 | 12.79 | 14.58 | 16.26 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||||
| Average payables payment period1 | 27 | 33 | 31 | 36 | 38 | 42 | 47 | 34 | 32 | 31 | 26 | 21 | 21 | 20 | 22 | 21 | 24 | 29 | 25 | 22 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||||||
| Newmont Corp. | 33 | 35 | 32 | 35 | 35 | 36 | 33 | 36 | 30 | 33 | 33 | 38 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 13.61 = 27
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Steel Dynamics Inc. number of days of payables outstanding increased from Q1 2022 to Q2 2022 but then decreased significantly from Q2 2022 to Q3 2022. |
Cash Conversion Cycle
Steel Dynamics Inc., cash conversion cycle calculation (quarterly data)
No. days
| Sep 30, 2022 | 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 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Average inventory processing period | 78 | 88 | 91 | 99 | 91 | 89 | 92 | 82 | 73 | 70 | 69 | 69 | 69 | 68 | 70 | 71 | 74 | 75 | 71 | 70 | — | — | — | |||||||
| Average receivable collection period | 37 | 44 | 42 | 38 | 44 | 44 | 47 | 37 | 36 | 32 | 36 | 29 | 33 | 33 | 35 | 32 | 40 | 41 | 37 | 33 | — | — | — | |||||||
| Average payables payment period | 27 | 33 | 31 | 36 | 38 | 42 | 47 | 34 | 32 | 31 | 26 | 21 | 21 | 20 | 22 | 21 | 24 | 29 | 25 | 22 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Cash conversion cycle1 | 88 | 99 | 102 | 101 | 97 | 91 | 92 | 85 | 77 | 71 | 79 | 77 | 81 | 81 | 83 | 82 | 90 | 87 | 83 | 81 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||||||
| Newmont Corp. | 35 | 32 | 42 | 37 | 44 | 42 | 47 | 48 | 51 | 43 | 39 | 47 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q3 2022 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 78 + 37 – 27 = 88
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Steel Dynamics Inc. cash conversion cycle improved from Q1 2022 to Q2 2022 and from Q2 2022 to Q3 2022. |