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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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Total Asset Turnover since 2013
- Price to Earnings (P/E) since 2013
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Long-term Activity Ratios (Summary)
Workday Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio shows a generally increasing trend from the earliest available data point in January 2020 through April 2025. Starting at 3.87, it rises steadily, reaching 7.63 by April 2025. This indicates an improving efficiency in the utilization of fixed assets to generate revenue over the observed period. There are minor fluctuations, but the overall trajectory is upward, reflecting enhanced productivity or asset management.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- This ratio also displays an increasing trend from January 2020 onwards, beginning at 2.96 and progressing to 5.82 by April 2025. The increase is steadier compared to the net fixed asset turnover without including leases. The growth suggests that when operating leases and right-of-use assets are considered, the company's efficiency in generating sales from these assets is improving, though at a somewhat slower pace than the standard net fixed asset turnover.
- Total Asset Turnover
- Total asset turnover remains relatively stable with slight fluctuations throughout the period. It starts at 0.53 in January 2020, dipping slightly below 0.5 in several periods (notably April 2020 and April 2021), with interim rebounds, ending at 0.51 by April 2025. This implies that the company’s overall efficiency in using total assets to generate sales has been maintained without significant improvement or deterioration.
- Equity Turnover
- The equity turnover ratio demonstrates a declining trend over time. From an initial value of 1.46 in January 2020, it gradually decreases to 0.97 by April 2025. The decline is consistent, with no periods showing substantial recovery. This may indicate that the company is generating less revenue per unit of shareholders’ equity over time, potentially suggesting increased equity without commensurate revenue growth or lower efficiency in equity utilization.
Net Fixed Asset Turnover
Workday Inc., net fixed asset turnover calculation (quarterly data)
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||||||
| Property and equipment, net | |||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | |||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||
| Datadog Inc. | |||||||||||||||||||||||||||||||||
| Fair Isaac Corp. | |||||||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||||||
| Microsoft Corp. | |||||||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||||||
| ServiceNow Inc. | |||||||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Q1 2026 Calculation
Net fixed asset turnover
= (RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025)
÷ Property and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trend Analysis
- Revenues exhibit a consistent upward trajectory over the analyzed periods, starting at $825 million in April 2019 and reaching $2,240 million by April 2025. This denotes a robust growth pattern, with no evident periods of decline or stagnation. The revenue increments appear relatively steady, indicating sustained business expansion or improved sales performance across quarterly intervals.
- Property and Equipment, Net
- The net value of property and equipment demonstrates minor fluctuations but largely remains stable over the timeframe. From $886 million in April 2019, the value experiences modest increases and decreases, peaking around $1,239 million in April 2025. There is a notable rise reaching over $1,150 million by early 2021, followed by some declines and recoveries thereafter. Overall, this suggests controlled capital expenditure or asset management without significant volatility.
- Net Fixed Asset Turnover Ratio
- Starting from an initial value of 3.87 (with data available from early 2020), the net fixed asset turnover ratio exhibits a steady increase throughout the periods, reaching 7.63 by January 2025. This rising trend suggests improved efficiency in utilizing fixed assets to generate revenues. The ratio nearly doubles over the reported intervals, reflecting enhanced operational productivity and possibly better asset utilization or greater revenue gains relative to fixed assets.
- Interrelations and Financial Insights
- The simultaneous growth in revenues and the net fixed asset turnover ratio, alongside relatively stable net property and equipment values, indicates that revenue growth is largely driven by more efficient use of assets rather than merely expanding asset base. The company's asset management strategy appears to focus on optimizing existing resources to support increasing sales volume.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Workday Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||||||
| Property and equipment, net | |||||||||||||||||||||||||||||||||
| Operating lease right-of-use assets | |||||||||||||||||||||||||||||||||
| Property and equipment, 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 | |||||||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||
| Datadog Inc. | |||||||||||||||||||||||||||||||||
| Fair Isaac Corp. | |||||||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||||||
| Microsoft Corp. | |||||||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||||||
| ServiceNow Inc. | |||||||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Q1 2026 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025)
÷ Property and equipment, net (including operating lease, right-of-use asset)
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trends
- Revenues exhibit a consistent upward trajectory throughout the observed periods, increasing from $825 million in April 2019 to $2240 million by April 2025. The growth is steady quarter over quarter with no notable declines or stagnations, reflecting sustained business expansion and increasing sales performance.
- Property and Equipment, Net
- The net value of property and equipment, inclusive of operating lease and right-of-use assets, experiences moderate fluctuations. Starting at $1166 million in April 2019, the value rises to a peak around mid-2022 at $1519 million, followed by some variability and a gradual declining trend after January 2024, ending at $1495 million in April 2025. These movements may reflect capital investments and depreciation or amortization dynamics over time.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, which measures revenue generated per dollar of fixed assets, is only available from January 2020 onwards. It shows a strong upward trend, starting at 2.96 and steadily improving to reach 5.82 by April 2025. This increase suggests enhanced efficiency in utilizing fixed assets to generate revenues, indicating improved operational productivity or asset management.
- Overall Insights
- The data portrays a company achieving robust revenue growth alongside improving asset utilization. While the asset base has grown moderately with some periods of deceleration, the rising net fixed asset turnover ratio denotes an increasingly efficient use of fixed assets. This combination is positive, showing that revenue growth is not solely reliant on adding assets but also on maximizing existing asset productivity. The slight decline in property and equipment values towards the end of the period could suggest strategic asset disposals or shifts in asset capitalization policies.
Total Asset Turnover
Workday Inc., total asset turnover calculation (quarterly data)
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||
| Datadog Inc. | |||||||||||||||||||||||||||||||||
| Fair Isaac Corp. | |||||||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||||||
| Microsoft Corp. | |||||||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||||||
| ServiceNow Inc. | |||||||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Q1 2026 Calculation
Total asset turnover
= (RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trends
- The reported revenues exhibit a consistent upward trend over the observed periods, increasing from 825 million USD in April 2019 to 2,240 million USD by April 2025. This growth indicates a steady expansion in the company's sales or service income, with occasional acceleration in the later quarters, particularly noticeable from mid-2021 onwards.
- Total Assets Movement
- Total assets demonstrate a notable increase from 5,824 million USD in April 2019 to a peak of 17,977 million USD in January 2025, followed by a slight decline to 17,212 million USD by April 2025. The overall upward trajectory suggests ongoing asset accumulation, perhaps reflecting investments or acquisitions. The minor fluctuation at the end could hint at asset disposals or valuation adjustments.
- Total Asset Turnover Ratio
- The total asset turnover ratio varies within a narrow range, predominantly between 0.42 and 0.53 throughout the given timeframe. This ratio slightly decreases from around 0.53 in early 2020 to a low near 0.42 in early 2022, suggesting a relative decline in revenue generated per unit of assets during that period. Thereafter, an improvement is observed, with the ratio moving back up toward 0.5 by the end of the dataset. This trend reflects fluctuating efficiency in asset utilization, with recovery in later periods indicating better management or revenue growth surpassing asset growth.
- Overall Observations
- Collectively, the data portrays a company experiencing continuous revenue growth alongside substantial increases in total assets. The asset turnover ratio's fluctuations reveal periods of varying operational efficiency, with some lag in asset revenue generation followed by improvement. The sizeable asset base combined with growing revenues and improving turnover ratios suggests a scaling business model with enhanced effectiveness in later quarters.
Equity Turnover
Workday Inc., equity turnover calculation (quarterly data)
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||||||
| Stockholders’ equity | |||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||
| Equity turnover1 | |||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||
| Datadog Inc. | |||||||||||||||||||||||||||||||||
| Fair Isaac Corp. | |||||||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||||||
| Microsoft Corp. | |||||||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||||||
| ServiceNow Inc. | |||||||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-04-30), 10-K (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-K (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-K (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30).
1 Q1 2026 Calculation
Equity turnover
= (RevenuesQ1 2026
+ RevenuesQ4 2025
+ RevenuesQ3 2025
+ RevenuesQ2 2025)
÷ Stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenue Trends
- Revenues demonstrated a consistent upward trajectory over the observed periods. Starting at 825 million US dollars in April 2019, revenues grew steadily quarter over quarter, reaching 2240 million US dollars by April 2025. The growth pace remained relatively stable, with no significant declines or volatility, indicating a robust and continuous expansion in the company's sales or service income over the entire timeframe.
- Stockholders’ Equity Trends
- Stockholders’ equity showed a general positive growth trend, rising from 2045 million US dollars in April 2019 to a peak of 9034 million US dollars in April 2025. There were minor fluctuations near the end of the period where equity slightly decreased to 8919 million US dollars, suggesting a possible event affecting equity such as dividends, buybacks, or losses. Overall, the upward movement reflects reinvestment of earnings and accumulation of capital, supporting the company’s expanding asset base and financial strength.
- Equity Turnover Ratio Trends
- The equity turnover ratio started from around 1.46 (not fully available for the earliest periods) and showed a steady decline over time, falling from a high of about 1.46 down to near 0.93 by the later periods. This downward trend indicates that the company's revenues are growing at a slower rate relative to the increase in stockholders’ equity. A declining equity turnover ratio suggests that each unit of equity is generating less revenue over time, which may point to lower operating efficiency or a shift towards a capital-intensive business model.
- Overall Insights
- The financial data reveal a company undergoing sustained revenue growth alongside expanding equity. However, the decreasing equity turnover ratio signals a diminishing efficiency in revenue generation relative to equity investment. This evolving dynamic could imply increased capital expenditures, investments in long-term assets, or structural changes affecting operational leverage. Continuous monitoring of these trends and analysis of underlying causes would be essential to assess long-term profitability and shareholder value creation.