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.
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- Income Statement
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- Analysis of Geographic Areas
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Long-term Activity Ratios (Summary)
Take-Two Interactive Software Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30).
The analysis of the quarterly financial ratios reveals several notable trends over the observed periods.
- Net fixed asset turnover
- This ratio exhibited a peak around the mid-2019 to early 2020 period, reaching values above 24. Following this peak, there was a marked decline starting from June 2021, falling to levels slightly above 12 by 2024 and maintaining relative stability around this lower threshold through the last reported quarter. This suggests a decreasing efficiency in generating sales from net fixed assets over time.
- Net fixed asset turnover (including operating lease, right-of-use asset)
- When considering operating leases and right-of-use assets, the turnover ratio is consistently lower than the net fixed asset turnover alone but follows a similar declining pattern. Values started above 10 around mid-2019, gradually decreasing to the range of 6 to 7 by 2024, indicating a reduction in turnover efficiency when these additional assets are accounted for.
- Total asset turnover
- The total asset turnover ratio showed moderate fluctuations. Initial figures around 0.6 were observed, followed by a decline to approximately 0.21 to 0.29 in the early 2020s. However, there was a gradual recovery starting around 2022, with values trending upward to about 0.6 by mid-2025. This indicates an initial decline in how effectively the total assets generate revenue, with improvement toward the latest periods.
- Equity turnover
- Equity turnover displayed a downward trend from approximately 1.27 in late 2019 to a low near 0.39 to 0.46 in mid-2022. Subsequently, there was a steady increase in this ratio, culminating in a sharp rise to 2.64 by mid-2025. This trend suggests that after a period of reduced efficiency in generating sales from equity, the company has considerably improved its equity utilization recently.
Overall, the data indicates a decline in asset utilization efficiency, particularly with fixed assets, during the earlier periods reviewed, followed by some recovery in total asset and equity turnovers in the more recent quarters. The inclusion of operating lease assets consistently lowers the net fixed asset turnover ratios but follows the same downward trajectory. These patterns suggest evolving capital structure and operational changes impacting asset productivity over the financial quarters analyzed.
Net Fixed Asset Turnover
Take-Two Interactive Software Inc., net fixed asset turnover calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
| Net revenue | |||||||||||||||||||||||||||||||
| Fixed assets, net | |||||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | |||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30).
1 Q4 2025 Calculation
Net fixed asset turnover
= (Net revenueQ4 2025
+ Net revenueQ3 2025
+ Net revenueQ2 2025
+ Net revenueQ1 2025)
÷ Fixed assets, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Revenue
- The net revenue exhibits significant fluctuations over the observed periods. Initially, it rises sharply from approximately 540 million to over 930 million US dollars between June 2019 and December 2019. This peak is followed by a moderate decline in the first quarter of 2020, with revenue dropping to around 760 million US dollars. Subsequently, net revenue stabilizes with minor increases and decreases, reaching a new high of approximately 1.4 billion US dollars in December 2022. After this peak, revenue experiences a slight decline and some volatility, ending at approximately 1.58 billion US dollars in March 2025. Overall, the trend shows strong growth with intermittent periods of stabilization and correction.
- Fixed Assets, Net
- The net fixed assets show a consistent upward trend throughout the entire period. Starting at approximately 126 million US dollars in mid-2019, the fixed assets increase steadily, with notable acceleration after mid-2021. By March 2025, the value reaches about 444 million US dollars, indicating considerable investment in fixed assets over the years. Despite minor fluctuations in some quarters, the general direction is upward, reflecting expansion or reinvestment in capital assets.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio illustrates the efficiency of using fixed assets to generate revenue. Data is available starting from March 2020, with an initial high ratio above 23. This ratio declines sharply during 2021, falling below 15 and remaining relatively stable in the range between 12.5 and 14.0 in subsequent periods. The decreasing trend in turnover ratio suggests that while assets have grown substantially, the revenue generated per unit of fixed asset has diminished, implying reduced asset productivity or a lag in revenue growth relative to asset accumulation.
- Overall Insights
- The financial data indicates a growth trajectory in both revenue and fixed assets, highlighting expansion efforts. However, the declining net fixed asset turnover ratio warns of potential efficiency losses as asset growth outpaces revenue increases. This pattern could prompt further investigation into asset utilization strategies and operational efficiency to ensure sustained profitability alongside growth.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Take-Two Interactive Software Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
| Net revenue | |||||||||||||||||||||||||||||||
| Fixed assets, net | |||||||||||||||||||||||||||||||
| Operating lease right-of-use assets | |||||||||||||||||||||||||||||||
| Fixed assets, net (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 | |||||||||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30).
1 Q4 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Net revenueQ4 2025
+ Net revenueQ3 2025
+ Net revenueQ2 2025
+ Net revenueQ1 2025)
÷ Fixed assets, net (including operating lease, right-of-use asset)
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Revenue
- The net revenue showed a general upward trend over the analyzed periods, starting at 540,459 thousand US dollars in June 2019 and reaching 1,582,500 thousand US dollars by March 2025. Notable increases occurred between mid-2021 and late 2022, with peak values observed in June and September 2022 at 1,393,500 and 1,407,800 thousand US dollars, respectively. Following this, revenue experienced some fluctuations but maintained a generally high level through 2024 and early 2025, indicating sustained growth compared to earlier periods.
- Fixed Assets, net (including operating lease, right-of-use asset)
- Fixed assets demonstrated a consistent increase throughout the periods under review. Beginning at 251,252 thousand US dollars in June 2019, the figure steadily rose to 769,900 thousand US dollars by March 2025. Substantial growth in fixed assets was especially notable from mid-2021 onwards, with a significant jump from 459,245 thousand US dollars in March 2022 to over 607,000 thousand US dollars in June 2022. This rising trend suggests ongoing investment in or acquisition of fixed assets over time.
- Net Fixed Asset Turnover (including operating lease, right-of-use asset)
- The net fixed asset turnover ratio exhibited a declining trend initially, moving from 10.79 around March 2020 to a low near 6.25 in June 2022. This decline indicates a decrease in revenue generated per unit of fixed asset during that period. However, after June 2022, the turnover ratio stabilized and slightly improved, rising to 7.32 by March 2025. Despite this improvement, the ratio remains below earlier levels, suggesting that fixed asset growth outpaced revenue growth during much of the period examined.
- Overall Insights
- Overall, the data indicates strong revenue growth accompanied by a steady increase in fixed assets, reflecting possible capital investments supporting business expansion. The decreasing, then stabilizing, net fixed asset turnover ratio suggests that while asset bases expanded significantly, the revenue generation efficiency per asset unit declined initially but later showed signs of recovery. This pattern may imply an adjustment period following asset accumulation or changes in operational efficiency over time.
Total Asset Turnover
Take-Two Interactive Software Inc., total asset turnover calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
| Net revenue | |||||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30).
1 Q4 2025 Calculation
Total asset turnover
= (Net revenueQ4 2025
+ Net revenueQ3 2025
+ Net revenueQ2 2025
+ Net revenueQ1 2025)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data exhibits notable fluctuations in key metrics over the presented quarterly periods. Analysis of net revenue, total assets, and total asset turnover reveals distinct patterns and trends that may inform strategic considerations.
- Net Revenue
- Net revenue demonstrates an overall upward trajectory from June 2019 through March 2025. Starting at approximately $540 million in mid-2019, revenue generally increased, peaking beyond $1.58 billion in the latest quarter ending March 2025. Periodic fluctuations are observed with certain quarters reflecting slight declines or plateaus. For example, after a peak around March 2022, revenue showed some variability but maintained a growth trend overall. This consistent rise signals strengthening sales or market demand across the interval.
- Total Assets
- Total assets increased steadily from around $4.37 billion in mid-2019 to a maximum of roughly $17.7 billion in mid-2022. Following this peak, total assets declined gradually to about $9.18 billion by the end of the dataset in March 2025. This pattern combines initial asset accumulation, possibly due to acquisitions or investments, followed by asset reduction or divestitures in later periods. The pronounced drop between late 2023 and early 2025 suggests significant changes in asset structure or strategic realignments.
- Total Asset Turnover
- The total asset turnover ratio, which measures efficiency in generating revenue from assets, shows substantial variation. Early data is not available, but from March 2020 onward the ratio varies mostly between 0.5 and 0.6, indicating moderate efficiency. There is a sharp decline in this ratio starting around June 2022, where it falls as low as approximately 0.21, coinciding with the surge in total assets, likely reflecting decreased asset utilization efficiency. Subsequently, the ratio improves gradually, returning to around 0.6 by March 2025 as total assets decrease and revenue remains high, suggesting enhanced efficiency during this latter period.
Overall, the revenue growth alongside the initial asset expansion and subsequent contraction implies a dynamic phase of investment followed by asset optimization. The improvement in asset turnover ratio toward the end of the timeline underscores a possible strategic emphasis on maximizing asset productivity relative to the company's revenue generation capacity.
Equity Turnover
Take-Two Interactive Software Inc., equity turnover calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
| Net revenue | |||||||||||||||||||||||||||||||
| Total Take-Two Interactive Software, Inc. stockholders’ equity | |||||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||
| Equity turnover1 | |||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||||
| Alphabet Inc. | |||||||||||||||||||||||||||||||
| Comcast Corp. | |||||||||||||||||||||||||||||||
| Meta Platforms Inc. | |||||||||||||||||||||||||||||||
| Netflix Inc. | |||||||||||||||||||||||||||||||
| Walt Disney Co. | |||||||||||||||||||||||||||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30).
1 Q4 2025 Calculation
Equity turnover
= (Net revenueQ4 2025
+ Net revenueQ3 2025
+ Net revenueQ2 2025
+ Net revenueQ1 2025)
÷ Total Take-Two Interactive Software, Inc. stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several notable trends across net revenue, stockholders’ equity, and equity turnover ratios over the covered periods.
- Net Revenue
- Net revenue demonstrates an overall increasing trend with some fluctuations. From June 2019 to March 2022, net revenue grew from approximately $540 million to $930 million, followed by a significant rise that peaked near $1.39 billion by September 2022. After reaching highs in late 2022 and early 2023, net revenue experienced moderate volatility but generally sustained levels above $1.28 billion. A substantial increase is observed again by March 2025, reaching approximately $1.58 billion, indicating strong revenue growth momentum in the most recent quarters.
- Total Stockholders’ Equity
- Stockholders’ equity initially showed consistent growth from about $2.1 billion in mid-2019 to around $3.8 billion by March 2022. However, a pronounced jump occurred between March 2022 and June 2022, where equity spiked to roughly $9.66 billion. Following this peak, equity fluctuated downwards, with a declining pattern from mid-2022 through early 2025, reaching nearly $2.1 billion by March 2025. This pattern indicates significant changes in equity structure, which may be due to changes in capital structure, share buybacks, or other equity transactions impacting the balance substantially over time.
- Equity Turnover Ratio
- The equity turnover ratio, starting with limited early data, shows a gradual decline from above 1.2 in early 2020 to lows below 0.4 by June 2022. Subsequently, a gradual recovery is present, reaching near 0.65 in late 2023. The ratio then rises sharply in early 2025, peaking at 2.64 by March 2025. This jump suggests a potentially more efficient utilization of equity or significant shifts in revenue relative to equity base in recent quarters.
- Insight Summary
- The overall financial trends highlight a robust increase in revenue accompanied by considerable volatility in stockholders’ equity. The unusually large equity values and subsequent decreases imply major equity restructuring events. Meanwhile, equity turnover trends suggest fluctuating efficiency in using equity to generate revenue, with notable enhancement at the end of the period. These patterns may indicate strategic capital management actions and evolving operational performance affecting the company’s financial leverage and revenue generation efficiency.