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: 2025-09-30), 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 exhibited a generally stable to slightly increasing trend over the observed periods. Initially, it remained steady around 1.77 to 1.86 in 2021, experienced a gradual decline towards the end of 2022 to approximately 1.75, then showed a consistent upward trajectory starting in 2023, reaching above 2.00 by mid-2025. This suggests an improving efficiency in generating revenue from net fixed assets in the later periods.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- This metric followed a similar pattern but at lower absolute levels compared to the net fixed asset turnover without leases. Starting near 1.08 in early 2021, it experienced a slight dip around 2022, hovering close to 1.07, before gradually increasing again from 2023 through mid-2025, peaking near 1.29. The inclusion of operating leases lowers the ratio values but maintains an overall positive trend indicative of enhanced asset utilization when considering leased assets.
- Total Asset Turnover
- The total asset turnover ratio remained relatively constant over the entire timeframe, fluctuating narrowly between 0.37 and 0.40. This stability suggests consistent revenue generation relative to total assets, with no significant improvement or deterioration in overall asset efficiency during the examined quarters.
- Equity Turnover
- The equity turnover ratio showed a modest but consistent upward trend, rising from approximately 1.16 in early 2021 to around 1.42 by mid-2025. The increase was steady across the quarters, indicating improved efficiency in generating revenue from shareholders' equity. This pattern suggests an enhanced utilization of equity capital over time.
Net Fixed Asset Turnover
T-Mobile US 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) | |||||||||||||||||||||||||
| Revenues | 21,957) | 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) | ||||||
| Property and equipment, net, including financing lease right-of-use assets | 41,673) | 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) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Net fixed asset turnover1 | 2.06 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| AT&T Inc. | 0.96 | 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 | ||||||
| Verizon Communications Inc. | 1.27 | 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 | ||||||
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
= (RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024)
÷ Property and equipment, net, including financing lease right-of-use assets
= (21,957 + 21,132 + 20,886 + 21,872)
÷ 41,673 = 2.06
2 Click competitor name to see calculations.
- Revenue Trends
-
Revenues exhibit fluctuations over the observed periods without a consistent upward or downward trajectory. Initial quarterly revenues ranged around the low 20,000 million USD mark, showing minor volatility with peaks typically near or just above 20,000 million USD. Slight declines are noticeable around mid-2023, but revenues recover and reach new highs approaching 22,000 million USD by late 2024 and into 2025. This pattern suggests resilience in revenue generation with modest growth towards the most recent quarters.
- Property and Equipment, Net
-
The net value of property and equipment shows a gradual decline over the timeframe under review. Starting from approximately 43,448 million USD in early 2021, the figure generally decreases across subsequent quarters, falling below 42,000 million USD by early 2024 and continuing around the 41,000 million USD level through to late 2025. This downward trend may indicate ongoing depreciation or amortization exceeding new capital expenditures or asset acquisitions.
- Net Fixed Asset Turnover Ratio
-
The net fixed asset turnover ratio presents a generally positive trend, increasing from 1.77 at the beginning of 2021 to peak values above 2.00 in most recent quarters of 2024 and 2025. This metric reflects enhanced efficiency in the utilization of fixed assets to generate revenues, indicating improvement in operational productivity or better asset management over time despite the declining net fixed asset base.
- Overall Analysis
-
While revenues remain somewhat stable with slight growth in the latest period, the sustained decrease in net fixed assets combined with higher asset turnover denotes improvements in asset efficiency. The company appears to be leveraging its fixed assets more effectively to maintain and grow revenue levels. These developments suggest strategic asset management and potentially focused investments yielding better financial outcomes.
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)
| 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) | |||||||||||||||||||||||||
| Revenues | 21,957) | 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) | ||||||
| Property and equipment, net, including financing lease right-of-use assets | 41,673) | 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) | ||||||
| Operating lease right-of-use assets | 26,070) | 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) | ||||||
| Property and equipment, net, including financing lease right-of-use assets (including operating lease, right-of-use asset) | 67,743) | 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) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 1.27 | 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 | ||||||
| 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 | 0.82 | 0.81 | 0.81 | 0.81 | 0.81 | 0.88 | 0.95 | 1.02 | 1.13 | 1.17 | 1.19 | 1.16 | ||||||
| Verizon Communications Inc. | 1.04 | 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 | ||||||
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)
= (RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024)
÷ Property and equipment, net, including financing lease right-of-use assets (including operating lease, right-of-use asset)
= (21,957 + 21,132 + 20,886 + 21,872)
÷ 67,743 = 1.27
2 Click competitor name to see calculations.
- Revenue Trends
- Revenues exhibit a fluctuating but generally stable pattern over the period analyzed. Initial quarters show values around 19,600 to 20,700 million USD, with a notable dip in mid-2023 to approximately 19,200 million USD. From late 2023 onward, revenues trend upward, reaching the highest values near 21,900 million USD by the end of the period. This indicates a recovery and gradual growth in revenue generation.
- Property and Equipment, Net
- The net value of property and equipment, inclusive of financing lease right-of-use assets, shows a declining trend over the timeline. Starting from approximately 71,200 million USD in early 2021, the figures decrease steadily, dipping below 67,000 million USD around late 2024 and early 2025. This consistent reduction may reflect asset disposals, depreciation, or a slowdown in capital expenditures.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio remains around 1.08 to 1.14 during the initial quarters, suggesting moderate efficiency in generating revenue from fixed assets. From 2023 onwards, the ratio displays a clear upward trend, peaking around 1.29 in late 2025. This improvement implies enhanced asset utilization and operational efficiency despite the declining asset base.
- Overall Insights
- The company demonstrates stable revenue generation with periodic fluctuations but shows signs of growth towards the end of the period. Meanwhile, the decreasing asset base combined with an increasing net fixed asset turnover ratio indicates improved management and more effective use of fixed assets. The divergence of rising asset turnover and falling asset values may imply strategic asset optimization or changes in leasing or asset management policies.
Total Asset Turnover
T-Mobile US 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) | |||||||||||||||||||||||||
| Revenues | 21,957) | 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) | ||||||
| Total assets | 217,180) | 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) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Total asset turnover1 | 0.40 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| AT&T Inc. | 0.29 | 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 | ||||||
| Verizon Communications Inc. | 0.35 | 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 | ||||||
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
= (RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024)
÷ Total assets
= (21,957 + 21,132 + 20,886 + 21,872)
÷ 217,180 = 0.40
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends related to revenues, total assets, and total asset turnover over the observed periods.
- Revenues
- Revenues have experienced fluctuations throughout the quarters, ranging approximately between $19,196 million and $21,872 million. There is no consistent upward or downward trend over the entire period; instead, revenues show cyclical variability. During the initial periods, revenues mostly hovered around $19,500 to $20,700 million. In the latter period, particularly from the first quarter of 2024 onwards, a generally positive trend can be observed with revenues increasing from around $19,594 million to nearly $21,957 million by the first quarter of 2025. This indicates a recovery or growth phase in the most recent quarters.
- Total Assets
- Total assets have remained relatively stable across the entire time frame, with values mostly within the range of $203 billion to $217 billion. There is a slight upward trend in total assets starting around the first quarter of 2024, with assets increasing from about $206 billion to over $217 billion by the first quarter of 2025. The stability in asset levels suggests controlled asset management with modest growth.
- Total Asset Turnover
- The total asset turnover ratio has been consistently stable, ranging between 0.37 and 0.40. Small variations are noted, but overall, the ratio remains close to 0.38 to 0.39 for the majority of quarters. Notably, in the last few quarters, the ratio trends slightly upwards reaching 0.40, implying a gradual improvement in the efficiency of assets generating revenues.
In summary, the company demonstrates steady asset levels with mild growth in total assets in the latest periods. Revenues show some variability but an encouraging upward trajectory emerges in the most recent quarters. The total asset turnover ratio's stability suggests consistent asset utilization efficiency, with a minor improvement toward the end of the period, reinforcing the positive outlook on operational effectiveness.
Equity Turnover
T-Mobile US Inc., equity turnover calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Revenues | 21,957) | 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) | ||||||
| Stockholders’ equity | 60,477) | 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) | ||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Equity turnover1 | 1.42 | 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 | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||
| AT&T Inc. | 1.12 | 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 | ||||||
| Verizon Communications Inc. | 1.31 | 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 | ||||||
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
= (RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024)
÷ Stockholders’ equity
= (21,957 + 21,132 + 20,886 + 21,872)
÷ 60,477 = 1.42
2 Click competitor name to see calculations.
The quarterly financial data reveals several notable trends in revenues, stockholders’ equity, and equity turnover over the observed periods.
- Revenues
- Revenues exhibit a degree of fluctuation throughout the periods, starting at approximately 19,759 million US dollars and showing minor cyclicality within each year. The first half of 2021 maintains revenues near the 19,600 to 19,950 million range, with a slight increase toward the end of 2021 to about 20,785 million. The revenue level dips in 2022, reaching a low near 19,477 million, before recovering by the year-end to exceed 20,273 million. In 2023 and beyond, the revenue generally trends upward, reaching a peak at 21,957 million in the final quarter of the series. This suggests a positive growth trajectory in the most recent quarters despite intermittent declines.
- Stockholders’ Equity
- Stockholders’ equity appears to follow a generally declining trend over the periods. It begins near 66,377 million US dollars and initially increases slightly to peak around 70,150 million mid-2022. From late 2022 onwards, equity contracts steadily, dropping below 65,000 million by early 2023 and continuing to decline toward approximately 60,477 million in the last quarter. This downward trend may indicate share repurchases, dividend payments, or accumulated losses affecting the equity base during the latter periods.
- Equity Turnover
- Equity turnover shows a gradual and consistent increase over time. Early values hover around 1.14 to 1.18, indicating the amount of revenue generated per unit of equity. Over the years, this metric strengthens progressively, reaching 1.42 in the final quarter. The rising equity turnover indicates improving efficiency in utilizing equity to generate revenues, suggesting enhanced operational performance or capital structure optimization.
In summary, while revenues demonstrate cyclical patterns with a general upward trend in recent quarters, stockholders’ equity contracts steadily in the later periods. Concurrently, the equity turnover ratio improves consistently, highlighting more effective use of equity capital to support revenue generation. These dynamics suggest a scenario of increasing operational efficiency amid a shrinking equity base.