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)
Texas Instruments Inc., short-term (operating) activity ratios (quarterly data)
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Texas Instruments Inc.’s inventory turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Texas Instruments Inc.’s receivables turnover ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Texas Instruments Inc.’s payables turnover ratio increased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Texas Instruments Inc.’s working capital turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
| 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. | Texas Instruments Inc.’s number of days of inventory outstanding improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Texas Instruments Inc.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | |
| 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. | |
| 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. |
Inventory Turnover
Texas Instruments Inc., inventory turnover calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cost of revenue (COR) | 1,430 | 1,364 | 1,157 | 1,241 | 1,253 | 1,325 | 1,308 | 1,333 | 1,310 | 1,457 | 1,398 | 1,342 | 1,310 | 1,460 | 1,319 | 1,258 | 1,281 | 1,395 | 1,270 | 1,184 | ||||||
| Inventories | 1,955 | 2,072 | 2,136 | 2,003 | 2,001 | 2,040 | 2,079 | 2,131 | 2,217 | 2,116 | 2,090 | 2,032 | 1,957 | 1,908 | 1,947 | 1,843 | 1,790 | 1,808 | 1,876 | 1,805 | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Inventory turnover1 | 2.66 | 2.42 | 2.33 | 2.56 | 2.61 | 2.59 | 2.60 | 2.58 | 2.48 | 2.60 | 2.64 | 2.67 | 2.73 | 2.79 | 2.70 | 2.82 | 2.87 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 3.87 | 3.72 | 3.21 | 3.86 | 3.93 | 3.43 | 3.48 | 3.90 | 4.77 | 5.57 | 5.59 | 5.46 | 4.74 | 4.15 | 4.17 | 4.01 | 4.36 | — | — | — | ||||||
| Analog Devices Inc. | 3.14 | 3.12 | 3.23 | 3.28 | 3.24 | 3.10 | 3.29 | 3.35 | 3.35 | 3.55 | 3.93 | 3.92 | 3.71 | 3.56 | 2.28 | 3.39 | 3.17 | 3.04 | 2.98 | 2.96 | ||||||
| Apple Inc. | 41.75 | 42.55 | 49.75 | 40.54 | 39.40 | 47.95 | 32.79 | 32.41 | 41.39 | 26.55 | 19.92 | 33.31 | 29.05 | 43.69 | 46.66 | 49.45 | 61.62 | 72.80 | 60.04 | 57.40 | ||||||
| Applied Materials Inc. | 2.44 | 2.30 | 2.32 | 2.43 | 2.37 | 2.36 | 2.39 | 2.50 | 2.54 | 2.55 | 2.57 | 2.71 | 2.73 | 2.68 | 2.80 | 2.98 | 3.08 | 2.88 | 2.95 | 3.08 | ||||||
| Broadcom Inc. | 10.34 | 9.51 | 10.76 | 10.73 | 11.57 | 9.16 | 9.63 | 9.31 | 9.00 | 8.28 | 8.05 | 7.50 | 6.31 | 6.03 | 6.35 | 6.44 | 5.21 | 4.73 | 3.42 | 6.72 | ||||||
| Cisco Systems Inc. | 13.74 | 14.85 | 13.73 | 14.14 | 13.91 | 12.76 | 11.30 | 12.05 | 10.14 | 9.68 | 9.55 | 10.65 | 11.00 | 13.07 | 14.01 | 15.23 | 15.03 | 13.95 | 14.00 | 13.10 | ||||||
| Intel Corp. | 4.06 | 3.66 | 3.71 | 3.32 | 3.41 | 3.35 | 3.20 | 3.57 | 3.74 | 3.51 | 3.44 | 3.41 | 3.39 | 3.42 | 3.70 | 4.01 | 4.18 | — | — | — | ||||||
| Lam Research Corp. | 2.86 | 3.11 | 3.42 | 3.51 | 3.44 | 3.49 | 3.44 | 3.12 | 3.15 | 3.27 | 3.42 | 3.63 | 3.58 | 3.51 | 3.48 | 3.55 | 3.36 | 3.49 | 3.76 | 3.50 | ||||||
| Micron Technology Inc. | 2.65 | 2.66 | 2.62 | 2.67 | 2.48 | 2.55 | 2.88 | 3.29 | 3.48 | 3.63 | 3.81 | 3.79 | 3.81 | 3.75 | 3.65 | 3.76 | 3.42 | 3.39 | 3.89 | 4.33 | ||||||
| NVIDIA Corp. | 4.24 | 3.88 | 3.50 | 3.04 | 2.89 | 3.29 | 4.10 | 5.32 | 4.89 | 4.26 | 3.98 | 3.75 | 3.59 | 3.81 | 4.49 | 5.72 | 5.26 | 5.03 | 4.80 | 4.75 | ||||||
| Qualcomm Inc. | 3.56 | 3.67 | 5.08 | 6.00 | 6.14 | 5.26 | 5.63 | 5.75 | 6.05 | 5.63 | 5.59 | 5.35 | 4.81 | 4.83 | 4.71 | 5.06 | 6.27 | 7.07 | 6.57 | 8.11 | ||||||
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Inventory turnover
= (Cost of revenue (COR)Q4 2020
+ Cost of revenue (COR)Q3 2020
+ Cost of revenue (COR)Q2 2020
+ Cost of revenue (COR)Q1 2020)
÷ Inventories
= (1,430 + 1,364 + 1,157 + 1,241)
÷ 1,955 = 2.66
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. | Texas Instruments Inc.’s inventory turnover ratio improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Receivables Turnover
Texas Instruments Inc., receivables turnover calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Revenue | 4,076 | 3,817 | 3,239 | 3,329 | 3,350 | 3,771 | 3,668 | 3,594 | 3,717 | 4,261 | 4,017 | 3,789 | 3,750 | 4,116 | 3,693 | 3,402 | 3,414 | 3,675 | 3,273 | 3,008 | ||||||
| Accounts receivable, net of allowances | 1,414 | 1,392 | 1,176 | 1,316 | 1,074 | 1,342 | 1,419 | 1,440 | 1,207 | 1,585 | 1,551 | 1,454 | 1,278 | 1,576 | 1,469 | 1,337 | 1,267 | 1,447 | 1,348 | 1,269 | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Receivables turnover1 | 10.23 | 9.87 | 11.64 | 10.73 | 13.39 | 10.99 | 10.74 | 10.83 | 13.08 | 9.98 | 10.10 | 10.56 | 11.71 | 9.28 | 9.66 | 10.29 | 10.55 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 4.73 | 4.05 | 4.27 | 4.28 | 3.62 | 4.32 | 4.41 | 4.92 | 5.24 | 5.42 | 5.84 | 8.12 | 13.32 | 6.43 | 7.52 | 8.96 | 13.74 | — | — | — | ||||||
| Analog Devices Inc. | 7.60 | 8.10 | 9.42 | 9.85 | 9.43 | 8.91 | 9.09 | 8.72 | 9.69 | 8.65 | 7.91 | 7.95 | 7.41 | 6.60 | 6.35 | 7.70 | 7.16 | 7.50 | 8.50 | 9.15 | ||||||
| Apple Inc. | 17.03 | 15.31 | 17.04 | 12.77 | 11.35 | 18.31 | 17.14 | 14.47 | 11.45 | 18.10 | 17.27 | 10.20 | 12.82 | 18.03 | 19.04 | 15.52 | 13.69 | 18.81 | 18.61 | 18.14 | ||||||
| Applied Materials Inc. | 5.81 | 5.80 | 5.88 | 5.61 | 5.77 | 6.27 | 6.97 | 6.87 | 6.73 | 5.97 | 6.19 | 7.09 | 6.22 | 6.14 | 5.44 | 5.00 | 4.75 | 5.34 | 5.00 | 5.88 | ||||||
| Broadcom Inc. | 10.40 | 8.64 | 7.13 | 6.21 | 6.93 | 6.29 | 6.26 | 5.80 | 6.27 | 6.73 | 7.15 | 7.66 | 7.20 | 7.00 | 7.84 | 8.02 | 6.07 | 5.02 | 4.79 | 6.57 | ||||||
| Cisco Systems Inc. | 9.01 | 11.07 | 11.91 | 10.66 | 9.45 | 13.52 | 13.57 | 11.08 | 8.88 | 11.38 | 12.14 | 11.36 | 9.33 | 10.47 | 10.90 | 10.18 | 8.42 | 12.22 | 11.53 | 10.53 | ||||||
| Intel Corp. | 11.48 | 10.94 | 10.61 | 8.96 | 9.40 | 10.23 | 11.29 | 10.18 | 10.54 | 12.69 | 14.29 | 13.12 | 11.19 | 10.43 | 11.43 | 12.29 | 12.66 | — | — | — | ||||||
| Lam Research Corp. | 4.79 | 4.39 | 4.70 | 5.80 | 6.63 | 6.84 | 5.82 | 5.92 | 5.09 | 4.94 | 4.19 | 5.79 | 4.79 | 4.41 | 4.47 | 4.59 | 4.66 | 4.71 | 5.41 | 5.24 | ||||||
| Micron Technology Inc. | 5.48 | 5.62 | 6.43 | 6.04 | 7.33 | 8.28 | 6.79 | 5.81 | 5.55 | 5.72 | 5.83 | 5.97 | 5.41 | 4.98 | 5.10 | 5.31 | 6.00 | 6.17 | 6.92 | 6.73 | ||||||
| NVIDIA Corp. | 6.59 | 6.89 | 6.52 | 8.64 | 8.23 | 5.60 | 7.15 | 9.00 | 7.68 | 7.69 | 6.88 | 7.73 | 8.37 | 7.37 | 8.45 | 9.87 | 9.92 | 9.07 | 9.30 | 10.39 | ||||||
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Receivables turnover
= (RevenueQ4 2020
+ RevenueQ3 2020
+ RevenueQ2 2020
+ RevenueQ1 2020)
÷ Accounts receivable, net of allowances
= (4,076 + 3,817 + 3,239 + 3,329)
÷ 1,414 = 10.23
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. | Texas Instruments Inc.’s receivables turnover ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020. |
Payables Turnover
Texas Instruments Inc., payables turnover calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cost of revenue (COR) | 1,430 | 1,364 | 1,157 | 1,241 | 1,253 | 1,325 | 1,308 | 1,333 | 1,310 | 1,457 | 1,398 | 1,342 | 1,310 | 1,460 | 1,319 | 1,258 | 1,281 | 1,395 | 1,270 | 1,184 | ||||||
| Accounts payable | 415 | 411 | 409 | 363 | 388 | 397 | 412 | 477 | 478 | 492 | 492 | 488 | 466 | 430 | 450 | 429 | 396 | 428 | 416 | 387 | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Payables turnover1 | 12.51 | 12.20 | 12.17 | 14.12 | 13.45 | 13.29 | 13.13 | 11.53 | 11.52 | 11.19 | 11.20 | 11.13 | 11.47 | 12.37 | 11.67 | 12.13 | 12.95 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 11.57 | 6.38 | 5.30 | 6.25 | 3.91 | 4.67 | 4.27 | 7.70 | 7.63 | 8.09 | 8.06 | 8.56 | 9.13 | 6.98 | 7.19 | 6.36 | 7.44 | — | — | — | ||||||
| Analog Devices Inc. | 8.42 | 8.85 | 9.83 | 9.12 | 8.78 | 8.99 | 9.60 | 8.92 | 7.54 | 9.27 | 10.15 | 9.83 | 8.65 | 8.10 | 7.77 | 7.90 | 6.97 | 7.44 | 7.19 | 8.67 | ||||||
| Apple Inc. | 4.01 | 4.79 | 5.12 | 3.68 | 3.50 | 5.53 | 5.26 | 3.65 | 2.93 | 4.09 | 4.45 | 2.34 | 2.88 | 4.31 | 4.75 | 3.48 | 3.52 | 5.06 | 5.46 | 4.22 | ||||||
| Broadcom Inc. | 12.41 | 9.41 | 8.33 | 10.28 | 11.83 | 10.04 | 13.13 | 13.55 | 12.47 | 12.82 | 11.89 | 11.87 | 8.26 | 7.45 | 9.00 | 8.22 | 5.79 | 5.48 | 5.10 | 6.29 | ||||||
| Cisco Systems Inc. | 7.94 | 7.52 | 9.60 | 9.43 | 9.34 | 9.55 | 11.62 | 10.49 | 9.83 | 11.85 | 17.08 | 15.60 | 12.84 | 14.65 | 18.51 | 17.98 | 17.32 | 18.60 | 19.82 | 17.35 | ||||||
| Intel Corp. | 6.14 | 6.58 | 6.59 | 6.61 | 7.23 | 6.01 | 5.94 | 6.84 | 7.09 | 7.23 | 6.10 | 5.52 | 8.09 | 6.66 | 6.37 | 7.23 | 9.37 | — | — | — | ||||||
| Lam Research Corp. | 9.18 | 10.43 | 11.56 | 12.52 | 14.06 | 13.60 | 17.03 | 15.23 | 11.57 | 8.78 | 12.24 | 10.22 | 9.49 | 8.41 | 7.96 | 9.45 | 9.38 | 8.73 | 14.33 | 12.60 | ||||||
| NVIDIA Corp. | 6.04 | 6.87 | 9.66 | 11.77 | 8.89 | 5.16 | 5.58 | 6.81 | 6.53 | 7.15 | 7.90 | 8.85 | 5.87 | 4.95 | 5.53 | 7.05 | 7.43 | 7.25 | 7.64 | 9.38 | ||||||
| Qualcomm Inc. | 4.12 | 4.21 | 4.19 | 4.96 | 6.29 | 5.88 | 5.82 | 6.87 | 5.61 | 6.11 | 6.91 | 5.94 | 4.97 | 6.42 | 7.54 | 5.86 | 5.25 | 6.02 | 6.46 | 7.26 | ||||||
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Payables turnover
= (Cost of revenue (COR)Q4 2020
+ Cost of revenue (COR)Q3 2020
+ Cost of revenue (COR)Q2 2020
+ Cost of revenue (COR)Q1 2020)
÷ Accounts payable
= (1,430 + 1,364 + 1,157 + 1,241)
÷ 415 = 12.51
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. | Texas Instruments Inc.’s payables turnover ratio increased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Working Capital Turnover
Texas Instruments Inc., working capital turnover calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 10,239 | 9,259 | 8,488 | 8,310 | 8,761 | 8,713 | 7,956 | 7,951 | 8,097 | 9,468 | 9,592 | 8,590 | 8,734 | 7,991 | 7,511 | 7,040 | 7,457 | 7,181 | 6,689 | 6,659 | ||||||
| Less: Current liabilities | 2,390 | 2,185 | 2,163 | 2,381 | 2,123 | 2,007 | 2,646 | 2,159 | 2,474 | 2,382 | 1,466 | 1,860 | 2,258 | 2,055 | 1,877 | 1,602 | 2,264 | 2,170 | 1,991 | 2,420 | ||||||
| Working capital | 7,849 | 7,074 | 6,325 | 5,929 | 6,638 | 6,706 | 5,310 | 5,792 | 5,623 | 7,086 | 8,126 | 6,730 | 6,476 | 5,936 | 5,634 | 5,438 | 5,193 | 5,011 | 4,698 | 4,239 | ||||||
| Revenue | 4,076 | 3,817 | 3,239 | 3,329 | 3,350 | 3,771 | 3,668 | 3,594 | 3,717 | 4,261 | 4,017 | 3,789 | 3,750 | 4,116 | 3,693 | 3,402 | 3,414 | 3,675 | 3,273 | 3,008 | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Working capital turnover1 | 1.84 | 1.94 | 2.16 | 2.38 | 2.17 | 2.20 | 2.87 | 2.69 | 2.81 | 2.23 | 1.93 | 2.28 | 2.31 | 2.46 | 2.52 | 2.53 | 2.57 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 2.62 | 2.80 | 2.86 | 3.01 | 3.01 | 2.94 | 3.01 | 3.19 | 4.16 | 4.55 | 5.30 | 5.69 | 4.69 | 4.47 | 4.35 | 3.93 | 3.61 | — | — | — | ||||||
| Analog Devices Inc. | 4.86 | 6.92 | 11.81 | 40.91 | 12.57 | 11.74 | 8.72 | 5.48 | 8.78 | 7.90 | 7.95 | 5.99 | 6.76 | 4.20 | 1.92 | 0.57 | 0.82 | 0.84 | 0.86 | 0.85 | ||||||
| Apple Inc. | 7.16 | 6.12 | 5.62 | 4.38 | 4.56 | 5.72 | 8.74 | 8.04 | 18.35 | 9.38 | 6.07 | 8.54 | 8.24 | 7.08 | 7.70 | 11.36 | 7.74 | 9.89 | 11.77 | 1,850.30 | ||||||
| Applied Materials Inc. | 1.93 | 2.04 | 1.94 | 2.42 | 2.54 | 2.38 | 2.44 | 2.58 | 2.58 | 2.62 | 2.25 | 1.79 | 1.65 | 1.66 | 1.63 | 2.24 | 2.29 | 2.23 | 2.32 | 2.08 | ||||||
| Broadcom Inc. | 4.32 | 3.32 | 3.00 | 5.19 | 7.49 | 8.51 | 10.03 | 9.45 | 3.08 | 3.11 | 1.90 | 2.04 | 1.33 | 2.19 | 2.53 | 2.99 | 3.27 | 3.30 | 2.20 | 2.24 | ||||||
| Cisco Systems Inc. | 2.70 | 3.29 | 2.87 | 3.04 | 3.24 | 2.65 | 2.15 | 1.72 | 1.42 | 1.26 | 0.95 | 0.87 | 0.86 | 0.85 | 0.80 | 0.82 | 0.92 | 0.91 | 0.95 | 0.96 | ||||||
| Intel Corp. | 3.46 | 5.32 | 3.60 | 4.30 | 8.06 | 14.39 | 7.38 | 6.98 | 5.83 | 6.91 | 6.60 | 5.49 | 5.20 | 4.98 | 2.83 | 4.10 | 3.91 | — | — | — | ||||||
| Lam Research Corp. | 1.31 | 1.32 | 1.62 | 1.49 | 1.56 | 1.57 | 2.10 | 2.33 | 1.85 | 1.59 | 1.66 | 1.38 | 1.29 | 1.18 | 1.09 | 0.83 | 0.87 | 1.27 | 1.33 | 1.35 | ||||||
| Micron Technology Inc. | 1.89 | 1.73 | 1.93 | 2.10 | 2.31 | 2.79 | 3.26 | 3.20 | 2.95 | 2.92 | 2.67 | 2.98 | 2.85 | 2.96 | 3.11 | 3.29 | 2.66 | 2.28 | 3.13 | 3.34 | ||||||
| NVIDIA Corp. | 0.92 | 0.92 | 1.01 | 1.14 | 1.27 | 1.27 | 1.27 | 1.32 | 1.20 | 1.20 | 1.19 | 1.06 | 1.02 | 0.98 | 1.45 | 1.51 | 1.35 | 0.98 | 1.02 | 0.96 | ||||||
| Qualcomm Inc. | 2.39 | 2.62 | 4.47 | 3.50 | 3.10 | 3.03 | 3.66 | 3.75 | 3.70 | 0.81 | 0.69 | 0.77 | 0.68 | 1.26 | 3.44 | 3.05 | 1.50 | 1.61 | 1.72 | 1.73 | ||||||
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Working capital turnover
= (RevenueQ4 2020
+ RevenueQ3 2020
+ RevenueQ2 2020
+ RevenueQ1 2020)
÷ Working capital
= (4,076 + 3,817 + 3,239 + 3,329)
÷ 7,849 = 1.84
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. | Texas Instruments Inc.’s working capital turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Average Inventory Processing Period
Texas Instruments Inc., average inventory processing period calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Inventory turnover | 2.66 | 2.42 | 2.33 | 2.56 | 2.61 | 2.59 | 2.60 | 2.58 | 2.48 | 2.60 | 2.64 | 2.67 | 2.73 | 2.79 | 2.70 | 2.82 | 2.87 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average inventory processing period1 | 137 | 151 | 157 | 143 | 140 | 141 | 140 | 141 | 147 | 140 | 138 | 137 | 134 | 131 | 135 | 129 | 127 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 94 | 98 | 114 | 94 | 93 | 106 | 105 | 93 | 77 | 66 | 65 | 67 | 77 | 88 | 88 | 91 | 84 | — | — | — | ||||||
| Analog Devices Inc. | 116 | 117 | 113 | 111 | 113 | 118 | 111 | 109 | 109 | 103 | 93 | 93 | 98 | 103 | 160 | 108 | 115 | 120 | 122 | 123 | ||||||
| Apple Inc. | 9 | 9 | 7 | 9 | 9 | 8 | 11 | 11 | 9 | 14 | 18 | 11 | 13 | 8 | 8 | 7 | 6 | 5 | 6 | 6 | ||||||
| Applied Materials Inc. | 150 | 159 | 157 | 150 | 154 | 155 | 153 | 146 | 144 | 143 | 142 | 135 | 134 | 136 | 130 | 122 | 119 | 127 | 124 | 119 | ||||||
| Broadcom Inc. | 35 | 38 | 34 | 34 | 32 | 40 | 38 | 39 | 41 | 44 | 45 | 49 | 58 | 61 | 57 | 57 | 70 | 77 | 107 | 54 | ||||||
| Cisco Systems Inc. | 27 | 25 | 27 | 26 | 26 | 29 | 32 | 30 | 36 | 38 | 38 | 34 | 33 | 28 | 26 | 24 | 24 | 26 | 26 | 28 | ||||||
| Intel Corp. | 90 | 100 | 98 | 110 | 107 | 109 | 114 | 102 | 98 | 104 | 106 | 107 | 108 | 107 | 99 | 91 | 87 | — | — | — | ||||||
| Lam Research Corp. | 128 | 117 | 107 | 104 | 106 | 105 | 106 | 117 | 116 | 112 | 107 | 101 | 102 | 104 | 105 | 103 | 109 | 105 | 97 | 104 | ||||||
| Micron Technology Inc. | 138 | 137 | 139 | 137 | 147 | 143 | 127 | 111 | 105 | 100 | 96 | 96 | 96 | 97 | 100 | 97 | 107 | 108 | 94 | 84 | ||||||
| NVIDIA Corp. | 86 | 94 | 104 | 120 | 126 | 111 | 89 | 69 | 75 | 86 | 92 | 97 | 102 | 96 | 81 | 64 | 69 | 73 | 76 | 77 | ||||||
| Qualcomm Inc. | 102 | 99 | 72 | 61 | 59 | 69 | 65 | 63 | 60 | 65 | 65 | 68 | 76 | 75 | 78 | 72 | 58 | 52 | 56 | 45 | ||||||
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 2.66 = 137
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. | Texas Instruments Inc.’s number of days of inventory outstanding improved from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Average Receivable Collection Period
Texas Instruments Inc., average receivable collection period calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Receivables turnover | 10.23 | 9.87 | 11.64 | 10.73 | 13.39 | 10.99 | 10.74 | 10.83 | 13.08 | 9.98 | 10.10 | 10.56 | 11.71 | 9.28 | 9.66 | 10.29 | 10.55 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average receivable collection period1 | 36 | 37 | 31 | 34 | 27 | 33 | 34 | 34 | 28 | 37 | 36 | 35 | 31 | 39 | 38 | 35 | 35 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 77 | 90 | 85 | 85 | 101 | 84 | 83 | 74 | 70 | 67 | 63 | 45 | 27 | 57 | 49 | 41 | 27 | — | — | — | ||||||
| Analog Devices Inc. | 48 | 45 | 39 | 37 | 39 | 41 | 40 | 42 | 38 | 42 | 46 | 46 | 49 | 55 | 57 | 47 | 51 | 49 | 43 | 40 | ||||||
| Apple Inc. | 21 | 24 | 21 | 29 | 32 | 20 | 21 | 25 | 32 | 20 | 21 | 36 | 28 | 20 | 19 | 24 | 27 | 19 | 20 | 20 | ||||||
| Applied Materials Inc. | 63 | 63 | 62 | 65 | 63 | 58 | 52 | 53 | 54 | 61 | 59 | 52 | 59 | 59 | 67 | 73 | 77 | 68 | 73 | 62 | ||||||
| Broadcom Inc. | 35 | 42 | 51 | 59 | 53 | 58 | 58 | 63 | 58 | 54 | 51 | 48 | 51 | 52 | 47 | 46 | 60 | 73 | 76 | 56 | ||||||
| Cisco Systems Inc. | 41 | 33 | 31 | 34 | 39 | 27 | 27 | 33 | 41 | 32 | 30 | 32 | 39 | 35 | 34 | 36 | 43 | 30 | 32 | 35 | ||||||
| Intel Corp. | 32 | 33 | 34 | 41 | 39 | 36 | 32 | 36 | 35 | 29 | 26 | 28 | 33 | 35 | 32 | 30 | 29 | — | — | — | ||||||
| Lam Research Corp. | 76 | 83 | 78 | 63 | 55 | 53 | 63 | 62 | 72 | 74 | 87 | 63 | 76 | 83 | 82 | 80 | 78 | 78 | 67 | 70 | ||||||
| Micron Technology Inc. | 67 | 65 | 57 | 60 | 50 | 44 | 54 | 63 | 66 | 64 | 63 | 61 | 68 | 73 | 72 | 69 | 61 | 59 | 53 | 54 | ||||||
| NVIDIA Corp. | 55 | 53 | 56 | 42 | 44 | 65 | 51 | 41 | 48 | 47 | 53 | 47 | 44 | 50 | 43 | 37 | 37 | 40 | 39 | 35 | ||||||
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 10.23 = 36
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. | Texas Instruments Inc.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020. |
Operating Cycle
Texas Instruments Inc., operating cycle calculation (quarterly data)
No. days
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Average inventory processing period | 137 | 151 | 157 | 143 | 140 | 141 | 140 | 141 | 147 | 140 | 138 | 137 | 134 | 131 | 135 | 129 | 127 | — | — | — | ||||||
| Average receivable collection period | 36 | 37 | 31 | 34 | 27 | 33 | 34 | 34 | 28 | 37 | 36 | 35 | 31 | 39 | 38 | 35 | 35 | — | — | — | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Operating cycle1 | 173 | 188 | 188 | 177 | 167 | 174 | 174 | 175 | 175 | 177 | 174 | 172 | 165 | 170 | 173 | 164 | 162 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 171 | 188 | 199 | 179 | 194 | 190 | 188 | 167 | 147 | 133 | 128 | 112 | 104 | 145 | 137 | 132 | 111 | — | — | — | ||||||
| Analog Devices Inc. | 164 | 162 | 152 | 148 | 152 | 159 | 151 | 151 | 147 | 145 | 139 | 139 | 147 | 158 | 217 | 155 | 166 | 169 | 165 | 163 | ||||||
| Apple Inc. | 30 | 33 | 28 | 38 | 41 | 28 | 32 | 36 | 41 | 34 | 39 | 47 | 41 | 28 | 27 | 31 | 33 | 24 | 26 | 26 | ||||||
| Applied Materials Inc. | 213 | 222 | 219 | 215 | 217 | 213 | 205 | 199 | 198 | 204 | 201 | 187 | 193 | 195 | 197 | 195 | 196 | 195 | 197 | 181 | ||||||
| Broadcom Inc. | 70 | 80 | 85 | 93 | 85 | 98 | 96 | 102 | 99 | 98 | 96 | 97 | 109 | 113 | 104 | 103 | 130 | 150 | 183 | 110 | ||||||
| Cisco Systems Inc. | 68 | 58 | 58 | 60 | 65 | 56 | 59 | 63 | 77 | 70 | 68 | 66 | 72 | 63 | 60 | 60 | 67 | 56 | 58 | 63 | ||||||
| Intel Corp. | 122 | 133 | 132 | 151 | 146 | 145 | 146 | 138 | 133 | 133 | 132 | 135 | 141 | 142 | 131 | 121 | 116 | — | — | — | ||||||
| Lam Research Corp. | 204 | 200 | 185 | 167 | 161 | 158 | 169 | 179 | 188 | 186 | 194 | 164 | 178 | 187 | 187 | 183 | 187 | 183 | 164 | 174 | ||||||
| Micron Technology Inc. | 205 | 202 | 196 | 197 | 197 | 187 | 181 | 174 | 171 | 164 | 159 | 157 | 164 | 170 | 172 | 166 | 168 | 167 | 147 | 138 | ||||||
| NVIDIA Corp. | 141 | 147 | 160 | 162 | 170 | 176 | 140 | 110 | 123 | 133 | 145 | 144 | 146 | 146 | 124 | 101 | 106 | 113 | 115 | 112 | ||||||
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 137 + 36 = 173
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. |
Average Payables Payment Period
Texas Instruments Inc., average payables payment period calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Payables turnover | 12.51 | 12.20 | 12.17 | 14.12 | 13.45 | 13.29 | 13.13 | 11.53 | 11.52 | 11.19 | 11.20 | 11.13 | 11.47 | 12.37 | 11.67 | 12.13 | 12.95 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average payables payment period1 | 29 | 30 | 30 | 26 | 27 | 27 | 28 | 32 | 32 | 33 | 33 | 33 | 32 | 30 | 31 | 30 | 28 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 32 | 57 | 69 | 58 | 93 | 78 | 85 | 47 | 48 | 45 | 45 | 43 | 40 | 52 | 51 | 57 | 49 | — | — | — | ||||||
| Analog Devices Inc. | 43 | 41 | 37 | 40 | 42 | 41 | 38 | 41 | 48 | 39 | 36 | 37 | 42 | 45 | 47 | 46 | 52 | 49 | 51 | 42 | ||||||
| Apple Inc. | 91 | 76 | 71 | 99 | 104 | 66 | 69 | 100 | 125 | 89 | 82 | 156 | 127 | 85 | 77 | 105 | 104 | 72 | 67 | 86 | ||||||
| Broadcom Inc. | 29 | 39 | 44 | 36 | 31 | 36 | 28 | 27 | 29 | 28 | 31 | 31 | 44 | 49 | 41 | 44 | 63 | 67 | 72 | 58 | ||||||
| Cisco Systems Inc. | 46 | 49 | 38 | 39 | 39 | 38 | 31 | 35 | 37 | 31 | 21 | 23 | 28 | 25 | 20 | 20 | 21 | 20 | 18 | 21 | ||||||
| Intel Corp. | 59 | 55 | 55 | 55 | 51 | 61 | 61 | 53 | 51 | 51 | 60 | 66 | 45 | 55 | 57 | 51 | 39 | — | — | — | ||||||
| Lam Research Corp. | 40 | 35 | 32 | 29 | 26 | 27 | 21 | 24 | 32 | 42 | 30 | 36 | 38 | 43 | 46 | 39 | 39 | 42 | 25 | 29 | ||||||
| NVIDIA Corp. | 60 | 53 | 38 | 31 | 41 | 71 | 65 | 54 | 56 | 51 | 46 | 41 | 62 | 74 | 66 | 52 | 49 | 50 | 48 | 39 | ||||||
| Qualcomm Inc. | 89 | 87 | 87 | 74 | 58 | 62 | 63 | 53 | 65 | 60 | 53 | 61 | 73 | 57 | 48 | 62 | 70 | 61 | 57 | 50 | ||||||
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 12.51 = 29
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. |
Cash Conversion Cycle
Texas Instruments Inc., cash conversion cycle calculation (quarterly data)
No. days
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Average inventory processing period | 137 | 151 | 157 | 143 | 140 | 141 | 140 | 141 | 147 | 140 | 138 | 137 | 134 | 131 | 135 | 129 | 127 | — | — | — | ||||||
| Average receivable collection period | 36 | 37 | 31 | 34 | 27 | 33 | 34 | 34 | 28 | 37 | 36 | 35 | 31 | 39 | 38 | 35 | 35 | — | — | — | ||||||
| Average payables payment period | 29 | 30 | 30 | 26 | 27 | 27 | 28 | 32 | 32 | 33 | 33 | 33 | 32 | 30 | 31 | 30 | 28 | — | — | — | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Cash conversion cycle1 | 144 | 158 | 158 | 151 | 140 | 147 | 146 | 143 | 143 | 144 | 141 | 139 | 133 | 140 | 142 | 134 | 134 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | 139 | 131 | 130 | 121 | 101 | 112 | 103 | 120 | 99 | 88 | 83 | 69 | 64 | 93 | 86 | 75 | 62 | — | — | — | ||||||
| Analog Devices Inc. | 121 | 121 | 115 | 108 | 110 | 118 | 113 | 110 | 99 | 106 | 103 | 102 | 105 | 113 | 170 | 109 | 114 | 120 | 114 | 121 | ||||||
| Apple Inc. | -61 | -43 | -43 | -61 | -63 | -38 | -37 | -64 | -84 | -55 | -43 | -109 | -86 | -57 | -50 | -74 | -71 | -48 | -41 | -60 | ||||||
| Broadcom Inc. | 41 | 41 | 41 | 57 | 54 | 62 | 68 | 75 | 70 | 70 | 65 | 66 | 65 | 64 | 63 | 59 | 67 | 83 | 111 | 52 | ||||||
| Cisco Systems Inc. | 22 | 9 | 20 | 21 | 26 | 18 | 28 | 28 | 40 | 39 | 47 | 43 | 44 | 38 | 40 | 40 | 46 | 36 | 40 | 42 | ||||||
| Intel Corp. | 63 | 78 | 77 | 96 | 95 | 84 | 85 | 85 | 82 | 82 | 72 | 69 | 96 | 87 | 74 | 70 | 77 | — | — | — | ||||||
| Lam Research Corp. | 164 | 165 | 153 | 138 | 135 | 131 | 148 | 155 | 156 | 144 | 164 | 128 | 140 | 144 | 141 | 144 | 148 | 141 | 139 | 145 | ||||||
| NVIDIA Corp. | 81 | 94 | 122 | 131 | 129 | 105 | 75 | 56 | 67 | 82 | 99 | 103 | 84 | 72 | 58 | 49 | 57 | 63 | 67 | 73 | ||||||
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-21), 10-Q (filing date: 2020-07-22), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-31), 10-Q (filing date: 2019-04-30), 10-K (filing date: 2019-02-22), 10-Q (filing date: 2018-11-02), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-03), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-04).
1 Q4 2020 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 137 + 36 – 29 = 144
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. |