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)
T-Mobile US Inc., long-term (investment) activity ratios (quarterly data)
Based on: 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), 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).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio exhibited an overall upward trend from the first recorded value of 1.55 in March 2020 to 2.07 by June 2025. The ratio improved steadily, with occasional periods of stabilization around the 1.75 to 1.80 range during late 2022 to early 2023. After this plateau, the ratio resumed its upward trajectory, suggesting enhanced efficiency in using fixed assets to generate sales over the longer term.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- This metric showed a similar but less pronounced increasing trend compared to the standard net fixed asset turnover. Starting at 0.95 in March 2020, it gradually rose to 1.29 by June 2025. There was a slight dip observed around mid-2022 but the turnover ratio quickly regained momentum, reflecting improved utilization of both owned and leased fixed assets over time.
- Total Asset Turnover
- Total asset turnover remained relatively stable over the observed periods. After an initial increase from 0.34 in March 2020 to approximately 0.39 by late 2020, the ratio hovered around 0.38 to 0.39 consistently thereafter. This stability indicates that overall asset utilization to generate revenue has been maintained with little volatility across the quarters.
- Equity Turnover
- Equity turnover demonstrated a clear upward trend, rising from 1.05 in March 2020 to 1.38 by June 2025. The pace of increase was gradual but relatively consistent, reflecting improved effectiveness in deploying shareholder equity to support revenue generation. Notably, the ratio strengthened progressively after mid-2023, suggesting enhanced capital efficiency in the more recent periods.
Net Fixed Asset Turnover
T-Mobile US Inc., net fixed asset turnover calculation (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Revenues | 21,132) | 20,886) | 21,872) | 20,162) | 19,772) | 19,594) | 20,478) | 19,252) | 19,196) | 19,632) | 20,273) | 19,477) | 19,701) | 20,120) | 20,785) | 19,624) | 19,950) | 19,759) | 20,341) | 19,272) | 17,671) | 11,113) | |||||||
| Property and equipment, net, including financing lease right-of-use assets | 40,586) | 40,874) | 41,624) | 40,955) | 41,493) | 42,466) | 43,702) | 44,470) | 45,169) | 45,335) | 45,343) | 44,653) | 43,833) | 43,293) | 43,125) | 42,751) | 42,824) | 43,448) | 44,203) | 41,605) | 42,089) | 24,898) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 2.07 | 2.02 | 1.96 | 1.95 | 1.91 | 1.85 | 1.80 | 1.76 | 1.74 | 1.74 | 1.75 | 1.79 | 1.83 | 1.86 | 1.86 | 1.86 | 1.85 | 1.77 | 1.55 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| AT&T Inc. | 0.96 | 0.96 | 0.95 | 0.95 | 0.96 | 0.96 | 0.95 | 0.95 | 0.94 | 0.94 | 0.95 | 1.03 | 1.12 | 1.22 | 1.34 | 1.40 | 1.42 | 1.39 | 1.35 | — | — | — | |||||||
| Verizon Communications Inc. | 1.27 | 1.25 | 1.24 | 1.25 | 1.24 | 1.24 | 1.24 | 1.25 | 1.26 | 1.27 | 1.27 | 1.32 | 1.33 | 1.35 | 1.34 | 1.40 | 1.41 | 1.37 | 1.35 | — | — | — | |||||||
Based on: 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), 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).
1 Q2 2025 Calculation
Net fixed asset turnover
= (RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024
+ RevenuesQ3 2024)
÷ Property and equipment, net, including financing lease right-of-use assets
= (21,132 + 20,886 + 21,872 + 20,162)
÷ 40,586 = 2.07
2 Click competitor name to see calculations.
- Revenue Trends
- Revenues exhibited notable fluctuations over the observed periods. Beginning at 11,113 million USD in March 2020, revenues saw a substantial increase through mid to late 2020, peaking at 20,341 million USD by December 31, 2020. Thereafter, revenues experienced minor oscillations, generally remaining within a band between approximately 19,000 million and 21,000 million USD. The data indicates recurring quarter-to-quarter variability without a pronounced long-term upward or downward trend within this range. However, a marked increase occurred by March 2025, where revenues reached 21,132 million USD, the highest level in the dataset.
- Property and Equipment (Including Financing Lease Right-of-Use Assets)
- The net property and equipment balance started at 24,898 million USD in March 2020, followed by a sharp increase to 42,089 million USD in June 2020. This step change likely reflects a change in accounting treatment or acquisition activity rather than gradual asset accumulation. Subsequently, values held relatively steady with a gradual slight decline from the mid-40,000 million range towards the low 40,000 million range by the end of the period. March 2025 figures show a level of 40,586 million USD, indicating slight asset base contraction or depreciation exceeding capital expenditures towards the end of the timeframe.
- Net Fixed Asset Turnover Ratio
- This ratio, reported from December 2020 onwards, indicates the company's efficiency in generating revenue from its fixed asset base. Starting at 1.55, the ratio rose steadily through the quarters, reaching 1.86 by March 2021 and maintaining close to that value through 2021. There was a slight downward drift to 1.74 in March and June 2023, suggesting a mild reduction in turnover efficiency during that timeframe. Afterward, the ratio improved consistently, surpassing previous highs to reach 2.07 by December 2024. This upward trend implies increasing asset utilization efficiency over time, with revenues growing or remaining stable against a slightly declining fixed asset base.
- Overall Analysis
- The data reveals a significant asset base expansion around mid-2020, followed by relative stability and minor decreases in net property and equipment. Despite slight fluctuations in revenues, overall revenue levels have been maintained or moderately grown, particularly towards the dataset's end. The net fixed asset turnover trend corroborates improved operational efficiency, indicating enhanced revenue generation capacity relative to the asset base in later periods. The combination of stable asset values with increasing turnover ratio suggests effective management of fixed assets and an ability to sustain or improve revenue generation without proportional increases in fixed assets.
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 (quarterly data)
| 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Revenues | 21,132) | 20,886) | 21,872) | 20,162) | 19,772) | 19,594) | 20,478) | 19,252) | 19,196) | 19,632) | 20,273) | 19,477) | 19,701) | 20,120) | 20,785) | 19,624) | 19,950) | 19,759) | 20,341) | 19,272) | 17,671) | 11,113) | |||||||
| Property and equipment, net, including financing lease right-of-use assets | 40,586) | 40,874) | 41,624) | 40,955) | 41,493) | 42,466) | 43,702) | 44,470) | 45,169) | 45,335) | 45,343) | 44,653) | 43,833) | 43,293) | 43,125) | 42,751) | 42,824) | 43,448) | 44,203) | 41,605) | 42,089) | 24,898) | |||||||
| Operating lease right-of-use assets | 24,735) | 25,025) | 25,398) | 25,833) | 26,240) | 26,766) | 27,135) | 27,568) | 27,891) | 28,146) | 28,715) | 29,264) | 30,110) | 31,449) | 26,959) | 27,446) | 27,511) | 27,793) | 28,021) | 27,999) | 17,246) | 10,956) | |||||||
| Property and equipment, net, including financing lease right-of-use assets (including operating lease, right-of-use asset) | 65,321) | 65,899) | 67,022) | 66,788) | 67,733) | 69,232) | 70,837) | 72,038) | 73,060) | 73,481) | 74,058) | 73,917) | 73,943) | 74,742) | 70,084) | 70,197) | 70,335) | 71,241) | 72,224) | 69,604) | 59,335) | 35,854) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 1.29 | 1.25 | 1.21 | 1.20 | 1.17 | 1.13 | 1.11 | 1.09 | 1.08 | 1.08 | 1.07 | 1.08 | 1.09 | 1.08 | 1.14 | 1.14 | 1.13 | 1.08 | 0.95 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||||||||||||||||||||||||
| AT&T Inc. | 0.82 | 0.82 | 0.82 | 0.82 | 0.82 | 0.82 | 0.82 | 0.81 | 0.81 | 0.81 | 0.81 | 0.88 | 0.95 | 1.02 | 1.13 | 1.17 | 1.19 | 1.16 | 1.13 | — | — | — | |||||||
| Verizon Communications Inc. | 1.04 | 1.02 | 1.01 | 1.02 | 1.02 | 1.01 | 1.01 | 1.01 | 1.02 | 1.02 | 1.02 | 1.05 | 1.05 | 1.05 | 1.05 | 1.08 | 1.09 | 1.11 | 1.09 | — | — | — | |||||||
Based on: 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), 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).
1 Q2 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024
+ RevenuesQ3 2024)
÷ Property and equipment, net, including financing lease right-of-use assets (including operating lease, right-of-use asset)
= (21,132 + 20,886 + 21,872 + 20,162)
÷ 65,321 = 1.29
2 Click competitor name to see calculations.
The financial data reveals notable trends in revenues, property and equipment values, and net fixed asset turnover ratios over the analyzed periods.
- Revenues
- Revenues generally exhibit a fluctuating pattern with periods of both growth and decline. Initial values start at $11,113 million in March 2020, peaking in December 2020 at $20,341 million. Following this peak, revenues show oscillations without clear long-term upward or downward momentum, dipping to $19,196 million in June 2023 before rising again to $21,132 million by June 2025. The fluctuations suggest sensitivity to external market or operational factors impacting the revenue streams periodically.
- Property and equipment, net (including financing and operating lease right-of-use assets)
- The net value of property and equipment increased significantly from $35,854 million in March 2020 to a high around $74,058 million in December 2022. After this peak, a consistent gradual decrease is observed, falling to $65,321 million by June 2025. This trend indicates that substantial investment or asset recognition occurred between 2020 and late 2022, with subsequent asset depreciation, disposals, or reduced investment thereafter.
- Net fixed asset turnover ratio (including operating lease right-of-use asset)
- The net fixed asset turnover ratio shows a continuous improvement trend, starting from 0.95 in September 2020 and rising gradually to 1.29 by June 2025. This upward trajectory suggests increasing efficiency in utilizing fixed assets to generate revenues over time, reflecting improved asset management or enhanced operational productivity.
In summary, despite revenue volatility, the company has invested substantially in property and equipment up to late 2022, followed by gradual reductions in asset value. Meanwhile, it has consistently improved the effectiveness with which these assets generate revenue, as evidenced by the rising net fixed asset turnover ratio. This combination of asset optimization and revenue variability points to dynamic operational adjustments in response to market conditions or strategic initiatives.
Total Asset Turnover
T-Mobile US Inc., total asset turnover calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Revenues | 21,132) | 20,886) | 21,872) | 20,162) | 19,772) | 19,594) | 20,478) | 19,252) | 19,196) | 19,632) | 20,273) | 19,477) | 19,701) | 20,120) | 20,785) | 19,624) | 19,950) | 19,759) | 20,341) | 19,272) | 17,671) | 11,113) | |||||||
| Total assets | 212,643) | 214,633) | 208,035) | 210,742) | 208,557) | 206,268) | 207,682) | 208,579) | 210,602) | 210,173) | 211,338) | 213,499) | 209,463) | 210,653) | 206,563) | 202,125) | 204,124) | 203,332) | 200,162) | 192,443) | 187,199) | 87,226) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Total asset turnover1 | 0.40 | 0.39 | 0.39 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.37 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.39 | 0.39 | 0.39 | 0.38 | 0.34 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| AT&T Inc. | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.31 | 0.30 | 0.30 | 0.30 | 0.30 | 0.30 | 0.31 | 0.33 | 0.27 | 0.31 | 0.32 | 0.32 | 0.32 | 0.33 | — | — | — | |||||||
| Verizon Communications Inc. | 0.36 | 0.36 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.35 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.37 | 0.36 | 0.38 | 0.38 | 0.37 | 0.41 | — | — | — | |||||||
Based on: 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), 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).
1 Q2 2025 Calculation
Total asset turnover
= (RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024
+ RevenuesQ3 2024)
÷ Total assets
= (21,132 + 20,886 + 21,872 + 20,162)
÷ 212,643 = 0.40
2 Click competitor name to see calculations.
The revenue figures exhibit a fluctuating but generally stable pattern over the analyzed periods. Initial revenues start relatively lower, peak around June 2020, and then show variability with slight declines and increases across subsequent quarters. The highest revenue recorded is observed near mid-2020, with values thereafter oscillating around a similar range, maintaining a level mostly between approximately $19 billion and $22 billion. There is a noticeable increment toward the end of the timeline, specifically in the quarters of late 2024 and early 2025, suggesting some recovery or growth phase.
Total assets show a significant increase from the starting point in early 2020 through the following quarters, roughly doubling by mid-2020. After reaching a peak close to mid-2021, the total asset value remains fairly stable with slight declines and recoveries, oscillating around the $210 billion mark for the majority of the remaining periods. This stabilization indicates a plateau in asset accumulation after a substantial growth phase in the first year observed.
The total asset turnover ratio, available from late 2020 onward, remains relatively constant throughout the periods observed. The ratio fluctuates narrowly between 0.34 and 0.40, indicating a consistent efficiency in utilizing total assets to generate revenues. The minor variations show no significant decline or improvement, which suggests stable operational management in terms of asset use to produce revenue.
- Revenues
- Demonstrate variability with peaks and troughs but maintain a general stability in the range of $19 billion to $22 billion after mid-2020.
- Total assets
- Experience rapid growth initially, approximately doubling in value by mid-2020, before stabilizing around $210 billion in subsequent quarters.
- Total asset turnover
- Remains steady around a range of 0.34 to 0.40, indicating consistent efficiency in asset utilization despite revenue fluctuations.
Equity Turnover
T-Mobile US Inc., equity turnover calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Revenues | 21,132) | 20,886) | 21,872) | 20,162) | 19,772) | 19,594) | 20,478) | 19,252) | 19,196) | 19,632) | 20,273) | 19,477) | 19,701) | 20,120) | 20,785) | 19,624) | 19,950) | 19,759) | 20,341) | 19,272) | 17,671) | 11,113) | |||||||
| Stockholders’ equity | 61,107) | 61,105) | 61,741) | 64,250) | 62,636) | 62,074) | 64,715) | 64,698) | 65,750) | 66,925) | 69,656) | 70,150) | 70,034) | 69,976) | 69,102) | 68,427) | 67,470) | 66,377) | 65,344) | 64,487) | 62,996) | 28,977) | |||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Equity turnover1 | 1.38 | 1.35 | 1.32 | 1.25 | 1.26 | 1.26 | 1.21 | 1.21 | 1.20 | 1.18 | 1.14 | 1.14 | 1.15 | 1.15 | 1.16 | 1.16 | 1.18 | 1.16 | 1.05 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||
| AT&T Inc. | 1.18 | 1.18 | 1.17 | 1.19 | 1.16 | 1.17 | 1.19 | 1.17 | 1.19 | 1.22 | 1.24 | 1.06 | 1.19 | 0.91 | 1.02 | 1.06 | 1.08 | 1.04 | 1.06 | — | — | — | |||||||
| Verizon Communications Inc. | 1.33 | 1.34 | 1.36 | 1.39 | 1.40 | 1.42 | 1.45 | 1.37 | 1.42 | 1.47 | 1.50 | 1.55 | 1.56 | 1.60 | 1.63 | 1.74 | 1.80 | 1.82 | 1.89 | — | — | — | |||||||
Based on: 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), 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).
1 Q2 2025 Calculation
Equity turnover
= (RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024
+ RevenuesQ3 2024)
÷ Stockholders’ equity
= (21,132 + 20,886 + 21,872 + 20,162)
÷ 61,107 = 1.38
2 Click competitor name to see calculations.
- Revenues
- Revenues exhibited notable volatility over the observed periods. Starting at $11,113 million in March 2020, they surged significantly by June 2020 and continued growing through the end of 2020, peaking at $20,341 million in December 2020. In 2021, revenues showed some fluctuations, ranging roughly between $19,624 million and $20,785 million, without a clear upward or downward trend. The year 2022 reflected a slight decline in revenues, dropping to around $19,477 million in September before recovering to above $20,000 million by December. In 2023, revenues again declined slightly during the first three quarters but increased towards the end of the year, reaching $20,478 million in December. From 2024 onwards, revenues demonstrated a generally upward trend, with consistent quarterly increases leading to a peak of $21,132 million in June 2025.
- Stockholders’ Equity
- Stockholders’ equity initially rose sharply from $28,977 million in March 2020 to about $69,102 million by December 2021. This represents a substantial growth during this period. However, starting in 2022, equity levels gradually declined, dipping from approximately $70,034 million in June 2022 to $69,656 million in December 2022. Throughout 2023 and into 2024, this downward trend continued more noticeably, with equity falling to $61,107 million by June 2025. The data suggests a consistent reduction in stockholders' equity over recent quarters, potentially indicative of share buybacks, dividend payments in excess of earnings, or other factors impacting equity.
- Equity Turnover Ratio
- The equity turnover ratio, which became available from March 2021, generally increased over time, starting from 1.05 and rising steadily to 1.38 by June 2025. This upward trend suggests improved efficiency in generating revenues from equity over the period analyzed. Despite some minor fluctuations, the gradual increase in this ratio denotes enhanced utilization of shareholder equity to drive sales.
- Summary Insights
- Overall, the company demonstrated strong revenue growth initially during 2020, followed by some variability and a modest rebound towards 2025. Meanwhile, stockholders’ equity expanded rapidly at first but experienced a sustained decline in recent years. The rising equity turnover ratio highlights improved operational efficiency in leveraging equity to generate revenues, a positive sign. However, the decline in equity could warrant further investigation to determine underlying causes. The interplay of stable to growing revenues alongside shrinking equity results in increasing equity turnover, reflecting changing capital structure dynamics and possibly strategic financial decisions impacting equity.