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.
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Short-term Activity Ratios (Summary)
AT&T Inc., short-term (operating) 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).
- Inventory Turnover
- The inventory turnover ratio exhibits noticeable fluctuations over the analyzed periods. It begins at a high of 30.23 in June 2021, followed by a downward trend reaching a low of 14.5 in September 2022. Subsequently, there is a partial recovery with ratios rising above 23.0 in December 2023 and June 2024. However, this is followed by another decline, with the ratio falling back to 17.39 by September 2025. These variations suggest periodic challenges in inventory management efficiency, with intermittent improvements.
- Receivables Turnover
- This ratio demonstrates a general improving pattern, reflecting enhanced efficiency in collecting receivables. Starting near 10.19 in March 2021, it shows an increasing trend, peaking around 14.02 in June 2025. Despite minor short-term variations, the overall ascending trajectory indicates better credit management and possibly stronger cash flow from customer collections over time.
- Working Capital Turnover
- Working capital turnover data is mostly unavailable across the periods, with a single recorded value of 177.07. Given this limited information, no trend analysis can be performed for this metric.
- Average Inventory Processing Period
- The average inventory processing period shows variability but generally remains between 12 and 25 days. From a low of 12 days in June 2021, it increases to a peak of 25 days in September 2022. Afterwards, this metric fluctuates moderately around the mid to high teens, indicating some inconsistency in inventory holding times but no persistent directional trend. The occasional rises may suggest periods of slower inventory turnover or stockpiling.
- Average Receivable Collection Period
- This metric indicates notable improvement in receivables collection efficiency. Beginning at 36 days in March 2021, it decreases to a low of 26 days by September 2025. Despite occasional minor increases, the overall decline points to accelerated cash conversion cycles and more effective credit control practices.
- Operating Cycle
- The operating cycle duration exhibits fluctuation with a tendency toward slight contraction. It starts at 54 days by December 2021, oscillates between the mid-40s and upper 50s in subsequent periods, and ends near 47 days by September 2025. Overall, the stable to modestly decreasing cycle time suggests moderately improved operational integration of inventory and receivables processes, contributing to more efficient working capital management.
Turnover Ratios
Average No. Days
Inventory Turnover
AT&T Inc., inventory 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) | |||||||||||||||||||||||||
| Cost of revenues | |||||||||||||||||||||||||
| Inventories | |||||||||||||||||||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||
| Inventory turnover1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | |||||||||||||||||||||||||
| T-Mobile US Inc. | |||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||
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
Inventory turnover
= (Cost of revenuesQ3 2025
+ Cost of revenuesQ2 2025
+ Cost of revenuesQ1 2025
+ Cost of revenuesQ4 2024)
÷ Inventories
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Cost of Revenues
- The cost of revenues exhibits a fluctuating pattern over the analyzed periods. Initially, higher values are observed in early 2021, with figures around 21,000 million US dollars. A notable decline occurs in early to mid-2022, reaching lows near 12,000 million US dollars. Subsequently, there is an oscillating trend where the cost rises toward late 2022 and early 2023, then decreases and rises again in the following quarters. The costs seem to follow a seasonal pattern, with recurring increases in the fourth quarter of each year.
- Inventories
- Inventory levels experience variation throughout the periods. The inventory amount starts close to 3,300 million US dollars in early 2021 and generally trends downward, reaching levels near 2,100 to 2,500 million in early 2024. However, some quarters show rebounds, notably an increase in inventories during the third quarter of 2022 and again in the fourth quarter of 2024. The data indicates some volatility but an overall mild declining tendency over the long term.
- Inventory Turnover
- The inventory turnover ratio declines noticeably from early 2021 to late 2022. It starts at approximately 24.45 and falls to a low near 14.5 by the third quarter of 2022, indicating slower movement of inventory relative to sales or cost of goods sold. From late 2022 onward, the ratio rebounds, increasing to figures above 23 in early 2024 before declining again to a range around 17–21 in the most recent quarters. This suggests periods of varying inventory efficiency, with some improvement after a low point but not consistently high turnover levels.
- Overall Observations
- Throughout the timeframe, the interplay between cost of revenues, inventories, and inventory turnover suggests fluctuating operational conditions impacting inventory management and cost control. Seasonal effects are apparent in costs and inventories, with peaks typically in quarters ending the calendar year. Inventory turnover reveals a period of inefficiency during 2022, followed by partial recovery, implying adjustments in inventory strategies or sales. The data supports the view of ongoing management efforts to balance inventory levels with cost pressures and sales demand, though variability remains significant.
Receivables Turnover
AT&T Inc., receivables 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) | |||||||||||||||||||||||||
| Operating revenues | |||||||||||||||||||||||||
| Accounts receivable, net of related allowances for credit loss | |||||||||||||||||||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||
| Receivables turnover1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | |||||||||||||||||||||||||
| T-Mobile US Inc. | |||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||
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
Receivables turnover
= (Operating revenuesQ3 2025
+ Operating revenuesQ2 2025
+ Operating revenuesQ1 2025
+ Operating revenuesQ4 2024)
÷ Accounts receivable, net of related allowances for credit loss
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Operating Revenues
- Operating revenues exhibit a noticeable decline from the early quarters of 2021 through mid-2022, decreasing from approximately 43,939 million USD in March 2021 to around 29,643 million USD in June 2022. This contraction indicates significant revenue pressure during this period. Subsequently, a moderate recovery phase is observed, with revenues fluctuating between approximately 30,000 and 32,000 million USD from late 2022 through early 2025. Despite this, the revenue levels in 2024 and 2025 remain below those observed in the initial quarters of 2021, suggesting a partial but incomplete rebound over the analyzed timeframe.
- Accounts Receivable, Net
- Accounts receivable net of credit loss allowances show an initial decline from about 16,971 million USD in March 2021 to a low of around 8,844 million USD in September 2025. The most substantial drops occur between the end of 2021 and mid-2022, coinciding with the revenue decline. While some fluctuations are present in the subsequent quarters, the overall trend points towards a consistent reduction in receivables over time, which may indicate improved collection efficiency or changing credit policies.
- Receivables Turnover Ratio
- The receivables turnover ratio starts at 10.19 in March 2021 and initially fluctuates with a slight downward trend through late 2021, reaching a low around 8.98 in March 2022. From mid-2022 onward, a noticeable upward trend is evident, with the ratio increasing to approximately 13.93 by September 2025. This rising turnover ratio suggests significant enhancements in the speed of converting receivables into cash, reflecting potentially improved credit management and collection processes during the latter periods.
- Summary and Insights
- The data indicate that the company faced revenue challenges up until mid-2022, after which a stabilization and slight recovery ensued. Concurrently, there has been a consistent decrease in accounts receivable balances, paired with progressively stronger receivables turnover ratios from mid-2022 through 2025. These patterns suggest improvements in working capital management, particularly in receivables collection, possibly contributing to better cash flow despite lower revenue levels relative to 2021. Overall, the financial trends reflect a company that is adapting its operations and credit policies to navigate revenue volatility and enhance liquidity.
Working Capital Turnover
AT&T Inc., working capital 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) | |||||||||||||||||||||||||
| Current assets | |||||||||||||||||||||||||
| Less: Current liabilities | |||||||||||||||||||||||||
| Working capital | |||||||||||||||||||||||||
| Operating revenues | |||||||||||||||||||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||
| Working capital turnover1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | |||||||||||||||||||||||||
| T-Mobile US Inc. | |||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||
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
Working capital turnover
= (Operating revenuesQ3 2025
+ Operating revenuesQ2 2025
+ Operating revenuesQ1 2025
+ Operating revenuesQ4 2024)
÷ Working capital
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Working Capital
- The working capital displayed significant fluctuations over the observed periods. Initially, it showed a negative trend, worsening from -13,854 million USD at the end of the first quarter of 2021 to a low of -25,591 million USD by the end of 2021. This was followed by an improvement in early 2022, with values moving towards less negative figures, reaching -5,638 million USD by the first quarter of 2022. However, the working capital then deteriorated again through 2022 and into early 2023, hitting around -28,247 million USD. From mid-2023 onward, a gradual recovery trend is observed, with working capital becoming less negative and eventually turning positive by the first quarter of 2025 at 703 million USD. This suggests an improvement in the company’s short-term financial health towards the end of the period.
- Operating Revenues
- Operating revenues fluctuated within a range roughly between 29,600 million USD and 44,000 million USD across the reported quarters. Revenues started around 43,939 million USD in the first quarter of 2021, then slightly decreased towards the end of 2021, reaching 40,958 million USD in the fourth quarter. A notable dip occurred in early 2022, with revenues dropping to about 29,712 million USD, after which revenues fluctuated moderately around the low 30,000 million USD level for the subsequent periods. By the fourth quarter of 2024, revenues rose to approximately 32,298 million USD, with slight moderation in the first quarter of 2025. Overall, there is an observable decline from the higher levels of early 2021 followed by stabilization and modest recovery in operating revenues in the latter quarters.
- Working Capital Turnover
- This ratio was only reported for the final quarter of the data series, standing at 177.07. Although isolated, this figure suggests a very high turnover relative to working capital at that time, likely influenced by the positive working capital recorded concurrently. Without earlier values, it is difficult to identify a trend, but the high number could reflect improved operational efficiency or revenue generation relative to working capital during that period.
Average Inventory Processing Period
AT&T Inc., average inventory processing period 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 | |||||||||||||||||||||||||
| Inventory turnover | |||||||||||||||||||||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||
| Average inventory processing period1 | |||||||||||||||||||||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | |||||||||||||||||||||||||
| T-Mobile US Inc. | |||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||
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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =
2 Click competitor name to see calculations.
- Inventory Turnover Ratio Trend
- The inventory turnover ratio exhibits significant fluctuations over the analyzed periods. Initially, there is a high ratio of 30.23 in June 2021, followed by a declining trend reaching a low point of 14.5 in September 2022. After this trough, the ratio recovers somewhat, peaking again at 27.18 in June 2024. Toward the latest periods, the ratio declines again, ending at 17.39 in September 2025. This variability indicates changes in inventory efficiency, reflecting shifts in sales volume relative to inventory levels or inventory management strategies over time.
- Average Inventory Processing Period
- The average inventory processing period inversely mirrors the inventory turnover ratio, starting at a short period of 12 days in June 2021, then progressively lengthening to a peak of 25 days in September 2022. Subsequent data show a reduction to around 13 days in June 2024, followed by a gradual increase, culminating at 21 days by September 2025. The periods of increase suggest slower inventory movement, which may indicate accumulation or slower sales, while decreases imply improved turnover efficiency.
- Relationship Between Inventory Turnover and Processing Period
- There is a clear inverse relationship between the inventory turnover ratio and the average inventory processing period. Periods with high turnover ratios correspond to shorter processing times, and vice versa. This dynamic highlights that when inventory cycles quickly, the days inventory remains on hand shorten, indicating operational efficiency. Conversely, when turnover falls, inventory stays longer in storage, suggesting slower movement through the supply chain.
- Overall Insights
- The company experiences cyclical changes in inventory management efficiency. The notable decline in turnover ratio and corresponding increase in processing period around late 2021 through 2022 may reflect external factors impacting sales or supply chain disruptions. Subsequent recovery periods suggest responsive adjustments. However, the volatility across periods points to potential fluctuations in demand or inventory control practices, warranting further monitoring to stabilize inventory performance and enhance operational consistency.
Average Receivable Collection Period
AT&T Inc., average receivable collection period 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 | |||||||||||||||||||||||||
| Receivables turnover | |||||||||||||||||||||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||
| Average receivable collection period1 | |||||||||||||||||||||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | |||||||||||||||||||||||||
| T-Mobile US Inc. | |||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =
2 Click competitor name to see calculations.
- Receivables Turnover
- The receivables turnover ratio demonstrated considerable variability over the observed quarters. Initially, the ratio started at 10.19 at the end of Q1 2021, rising to a peak near 12.33 in Q2 2022. Subsequently, fluctuations continued with another high around 13.59 in Q3 2023. In the most recent quarters, the receivables turnover ratio maintained a generally strong performance, hovering around values between 12.6 and 14.0. This upward movement suggests an improvement in the efficiency with which receivables were collected over time, indicating enhanced liquidity management.
- Average Receivable Collection Period
- The average receivable collection period exhibited an inverse trend relative to the receivables turnover ratio, as expected. Beginning at 36 days in Q1 2021, the period shortened to a low of approximately 30 days by mid-2022. Thereafter, the collection period ranged between 26 to 31 days toward the end of the timeline, with the most recent quarters reflecting averages around 26 to 29 days. This shortening trend implies a faster conversion of receivables into cash, reinforcing the observation of improved collection efficiency.
- Overall Analysis
- Over the span analyzed, the company displayed a consistent trend toward improving receivables management. The upward trend in receivables turnover coupled with the decline in days sales outstanding indicates tighter credit control and enhanced working capital management. These patterns suggest the company has increasingly optimized its credit policies or collection efforts, resulting in a quicker receivables cycle and potentially better cash flow stability.
Operating Cycle
AT&T Inc., operating cycle calculation (quarterly data)
No. days
| 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 | |||||||||||||||||||||||||
| Average inventory processing period | |||||||||||||||||||||||||
| Average receivable collection period | |||||||||||||||||||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||
| Operating cycle1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Operating Cycle, Competitors2 | |||||||||||||||||||||||||
| T-Mobile US Inc. | |||||||||||||||||||||||||
| Verizon Communications Inc. | |||||||||||||||||||||||||
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
Operating cycle = Average inventory processing period + Average receivable collection period
= + =
2 Click competitor name to see calculations.
- Average Inventory Processing Period
- The average inventory processing period exhibited fluctuations over the observed quarters. Starting from 15 days in early 2021, it initially decreased to 12 days by mid-2021, then increased steadily, peaking at 25 days in the third quarter of 2022. Following this peak, the period generally declined, reaching 13 days by mid-2024 before rising again to 21 days by the third quarter of 2025. This pattern indicates variability in inventory turnover efficiency, with intermittent improvements and slowdowns.
- Average Receivable Collection Period
- The average receivable collection period showed a general trend of improvement over time. Beginning at 36 days in the first quarter of 2021, it briefly decreased to 33 days by mid-2021, then increased to 41 days by the first quarter of 2022. Thereafter, the period consistently declined, reaching 26 days by late 2024 and maintaining that level into 2025. This suggests enhanced effectiveness in collecting receivables and a reduction in the credit extended to customers.
- Operating Cycle
- The operating cycle, reflecting the total time between inventory acquisition and cash collection, exhibited moderate variability but an overall improving trend. Initially measured at 51 days in early 2021, it fluctuated between a low of 42 days and a high of 57 days through the quarters, with peaks notably occurring in late 2021 and 2022. By mid-2024, the operating cycle stabilized around the mid-40s range, holding steady into 2025. This suggests gradual enhancements in operational efficiency, correlating with improvements seen in the receivable collection period.