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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Long-term Activity Ratios (Summary)
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
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Net fixed asset turnover | ||||||
Net fixed asset turnover (including operating lease, right-of-use asset) | ||||||
Total asset turnover | ||||||
Equity turnover |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The analysis of the financial data reveals several noteworthy trends in the efficiency ratios over the five-year period from 2020 to 2024.
- Net Fixed Asset Turnover
- This ratio indicates how effectively the company utilizes its net fixed assets to generate sales. Over the analyzed period, there was a generally upward trend, starting at 1.55 in 2020 and reaching 1.96 in 2024. After a peak increase to 1.86 in 2021, a slight decline occurred in 2022 followed by a recovery and further growth through 2023 and 2024. This overall improvement suggests enhanced efficiency in using fixed assets to drive revenue.
- Net Fixed Asset Turnover Including Operating Lease, Right-of-Use Asset
- When considering operating leases and right-of-use assets, the turnover ratio shows a similar pattern of improvement but at a lower absolute level compared to the net fixed asset turnover alone. The ratio increased from 0.95 in 2020 to 1.21 in 2024, with some fluctuations midway. This implies the company is becoming more efficient in utilizing leased assets as well, although the turnover rate remains lower than for owned fixed assets.
- Total Asset Turnover
- The total asset turnover ratio, reflecting how well the company uses all its assets to generate sales, displayed relative stability over the period. It increased from 0.34 in 2020 to 0.39 in both 2021 and 2024, with a slight dip to 0.38 during the middle years. The modest increase suggests consistent asset utilization without significant gains or losses in overall asset efficiency.
- Equity Turnover
- Equity turnover ratio, measuring how efficiently equity capital is used to generate revenue, demonstrated a steady upward trajectory from 1.05 in 2020 to 1.32 in 2024. This continuous improvement indicates that the company has increasingly leveraged its equity base to produce higher revenue over time, reflecting positively on shareholders' equity productivity.
Net Fixed Asset Turnover
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Revenues | ||||||
Property and equipment, net, including financing lease right-of-use assets | ||||||
Long-term Activity Ratio | ||||||
Net fixed asset turnover1 | ||||||
Benchmarks | ||||||
Net Fixed Asset Turnover, Competitors2 | ||||||
AT&T Inc. | ||||||
Verizon Communications Inc. | ||||||
Net Fixed Asset Turnover, Sector | ||||||
Telecommunication Services | ||||||
Net Fixed Asset Turnover, Industry | ||||||
Communication Services |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Net fixed asset turnover = Revenues ÷ Property and equipment, net, including financing lease right-of-use assets
= ÷ =
2 Click competitor name to see calculations.
- Revenues
- The revenue figures demonstrate a generally positive trajectory over the analyzed periods, increasing from $68,397 million in 2020 to $81,400 million in 2024. However, there was a slight decline in 2022 and 2023 when revenues decreased from $80,118 million in 2021 to $79,571 million and $78,558 million respectively, before rebounding in 2024. This pattern indicates overall growth with minor fluctuations in the middle years.
- Property and Equipment, Net, Including Financing Lease Right-of-Use Assets
- The net value of property and equipment exhibited a downward trend from 2020 through 2024, declining from $44,203 million to $41,624 million. Despite a recovery in 2022 where values increased to $45,343 million, the subsequent years saw decreases again, reflecting possible asset disposals, depreciation, or reduced capital expenditures during the later periods.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio generally improved over the five-year span, increasing from 1.55 in 2020 to 1.96 in 2024. The ratio peaked at 1.86 in 2021, dipped slightly in 2022 to 1.75, then gradually rose through 2023 and 2024. This trend suggests enhanced efficiency in utilizing fixed assets to generate revenues, notwithstanding minor fluctuations in the middle years.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
T-Mobile US Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Revenues | ||||||
Property and equipment, net, including financing lease right-of-use assets | ||||||
Operating lease right-of-use assets | ||||||
Property and equipment, net, including financing lease right-of-use assets (including operating lease, right-of-use asset) | ||||||
Long-term Activity Ratio | ||||||
Net fixed asset turnover (including operating lease, right-of-use asset)1 | ||||||
Benchmarks | ||||||
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
AT&T Inc. | ||||||
Verizon Communications Inc. | ||||||
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
Telecommunication Services | ||||||
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
Communication Services |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property and equipment, net, including financing lease right-of-use assets (including operating lease, right-of-use asset)
= ÷ =
2 Click competitor name to see calculations.
The financial data reveals several key trends over the five-year period from 2020 to 2024. Revenues show an overall positive trajectory, increasing from $68,397 million in 2020 to $81,400 million in 2024. This represents a steady growth despite a slight decline in 2022 and 2023, where revenues dipped marginally but recovered in 2024 to reach the highest value in the period.
Examining the property and equipment, net (including financing lease right-of-use assets), the figures exhibit a declining trend. The net value decreased from $72,224 million in 2020 to $67,022 million in 2024. Periodic fluctuations are observed with a slight increase in 2022 followed by a consistent decline in the subsequent years. This decline may suggest asset disposals, depreciation exceeding new capital investments, or changes in leasing arrangements.
The net fixed asset turnover ratio, which measures how efficiently the company is using its fixed assets to generate revenue, has improved significantly over the timeframe. Starting at 0.95 in 2020, the ratio climbed to 1.21 in 2024. Notably, after a peak of 1.14 in 2021, the ratio slightly declined in 2022 before resuming an upward trend. The continuous increase in this ratio in the last two years indicates enhanced efficiency in asset utilization, as the company is generating more revenue per dollar of net fixed assets.
- Revenues
- Exhibited steady growth from $68.4 billion in 2020 to $81.4 billion in 2024, with minor fluctuations in 2022 and 2023.
- Property and equipment, net
- Declined from $72.2 billion in 2020 to $67.0 billion in 2024, suggesting reduced asset base or increased depreciation without corresponding asset additions.
- Net fixed asset turnover ratio
- Improved from 0.95 in 2020 to 1.21 in 2024, indicating increased efficiency in using fixed assets to generate revenue despite the shrinking asset base.
Overall, the data highlights a company that is successfully increasing its revenue while managing to use its fixed assets more efficiently, even as the net value of those assets declines. This could reflect strategic decisions involving asset management and operational efficiency enhancements.
Total Asset Turnover
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Revenues | ||||||
Total assets | ||||||
Long-term Activity Ratio | ||||||
Total asset turnover1 | ||||||
Benchmarks | ||||||
Total Asset Turnover, Competitors2 | ||||||
AT&T Inc. | ||||||
Verizon Communications Inc. | ||||||
Total Asset Turnover, Sector | ||||||
Telecommunication Services | ||||||
Total Asset Turnover, Industry | ||||||
Communication Services |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Total asset turnover = Revenues ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
The financial data reveals several noteworthy trends over the five-year period from 2020 to 2024. Revenues demonstrate a generally positive trajectory with some fluctuations. Starting at $68,397 million in 2020, revenues increased significantly to $80,118 million in 2021. This growth was followed by a minor decline in 2022 to $79,571 million and a further slight dip in 2023 to $78,558 million. However, revenues recovered in 2024 reaching $81,400 million, marking the highest point in the observed timeframe.
Total assets increased gradually from $200,162 million in 2020 to a peak of $211,338 million in 2022. Subsequent periods show a small decrease to $207,682 million in 2023, followed by stabilization at approximately $208,035 million in 2024. This suggests some asset disposals or revaluations but overall asset base remained relatively stable after 2022.
The total asset turnover ratio, a measure of efficiency in using assets to generate revenue, improved from 0.34 in 2020 to 0.39 in 2021. It then experienced a slight reduction to 0.38 in 2022 and remained constant in 2023 before returning to 0.39 in 2024. This indicates generally stable operational efficiency with a slight improvement at the beginning and end of the period.
In summary, revenues experienced overall growth with some volatility, total assets showed a steady increase and stabilization, and asset utilization efficiency remained relatively stable, demonstrating consistent operational management throughout the period.
Equity Turnover
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Revenues | ||||||
Stockholders’ equity | ||||||
Long-term Activity Ratio | ||||||
Equity turnover1 | ||||||
Benchmarks | ||||||
Equity Turnover, Competitors2 | ||||||
AT&T Inc. | ||||||
Verizon Communications Inc. | ||||||
Equity Turnover, Sector | ||||||
Telecommunication Services | ||||||
Equity Turnover, Industry | ||||||
Communication Services |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Equity turnover = Revenues ÷ Stockholders’ equity
= ÷ =
2 Click competitor name to see calculations.
The analysis of the financial data over the five-year period reveals several noteworthy trends regarding revenues, stockholders’ equity, and equity turnover.
- Revenues
- Revenues experienced a general upward trend despite minor fluctuations. Starting at approximately $68.4 billion at the end of 2020, revenues increased significantly to about $80.1 billion in 2021. Subsequently, there was a slight decline in 2022 and 2023, bringing revenues down to around $79.6 billion and $78.6 billion, respectively. However, revenues rebounded in 2024, reaching approximately $81.4 billion, marking the highest value within the observed time frame.
- Stockholders’ equity
- Stockholders’ equity showed a decreasing trend over the analyzed period. From a high point of roughly $65.3 billion at the close of 2020, equity increased modestly to about $69.1 billion in 2021 and marginally more to $69.7 billion in 2022. However, following this, equity declined steadily in 2023 and 2024, reaching approximately $64.7 billion and $61.7 billion, respectively. This downward movement indicates potential reductions in net assets or increased distributions to shareholders.
- Equity turnover
- Equity turnover ratio displayed a consistent upward trajectory throughout the period. Beginning at 1.05 in 2020, the ratio increased incrementally each year, reaching 1.16 in 2021, 1.14 in 2022, 1.21 in 2023, and peaking at 1.32 in 2024. This rising ratio suggests improved efficiency in utilizing equity to generate revenue, despite the decline in absolute stockholders' equity values.
In summary, while revenues exhibited growth with minor setbacks, stockholders’ equity declined in the latter years, potentially signaling increased financial leverage or shareholder returns. Concurrently, the rising equity turnover ratio reflects enhanced effectiveness in generating revenues from equity, indicating a shift towards more efficient capital management during this period.