Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

Analysis of Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

AbbVie Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
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 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
Turnover Ratios
Inventory turnover 4.99 4.96 5.58 5.76 5.45 5.40 4.65 3.66 2.36 4.17 4.10 3.86 3.89 4.40 4.81 4.47 4.91 4.23 4.39
Receivables turnover 5.10 5.29 5.63 5.94 5.42 5.24 5.19 4.83 4.34 5.35 6.13 5.94 5.95 5.75 6.08 5.57 5.34 5.07 5.55
Working capital turnover 130.12 0.97 0.98 12.30 64.14 10.46 8.75 6.16
Average No. Days
Average inventory processing period 73 74 65 63 67 68 79 100 155 88 89 94 94 83 76 82 74 86 83
Add: Average receivable collection period 72 69 65 61 67 70 70 76 84 68 60 61 61 64 60 66 68 72 66
Operating cycle 145 143 130 124 134 138 149 176 239 156 149 155 155 147 136 148 142 158 149

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. AbbVie Inc. inventory turnover ratio deteriorated from Q4 2021 to Q1 2022 but then slightly improved from Q1 2022 to Q2 2022.
Receivables turnover An activity ratio equal to revenue divided by receivables. AbbVie Inc. receivables turnover ratio deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

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. AbbVie Inc. number of days of inventory outstanding deteriorated from Q4 2021 to Q1 2022 but then slightly improved from Q1 2022 to Q2 2022.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. AbbVie Inc. number of days of receivables outstanding deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.
Operating cycle Equal to average inventory processing period plus average receivables collection period. AbbVie Inc. operating cycle deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Inventory Turnover

AbbVie Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
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 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
Selected Financial Data (US$ in millions)
Cost of products sold 4,170  4,052  4,320  4,390  4,523  4,213  4,684  5,050  3,711  1,942  2,006  1,920  1,819  1,694  2,022  1,835  1,934  1,927  2,280  1,616  1,528  1,616 
Inventories 3,396  3,483  3,128  3,094  3,386  3,272  3,310  3,474  4,059  1,844  1,813  1,929  1,895  1,702  1,605  1,786  1,580  1,738  1,605  1,785  1,582  1,427 
Short-term Activity Ratio
Inventory turnover1 4.99 4.96 5.58 5.76 5.45 5.40 4.65 3.66 2.36 4.17 4.10 3.86 3.89 4.40 4.81 4.47 4.91 4.23 4.39
Benchmarks
Inventory Turnover, Competitors2
Amgen Inc. 1.40 1.48 1.58 1.53 1.53 1.53 1.58 1.48 1.38 1.31 1.22 1.29 1.32 1.40 1.39 1.35 1.31 1.36 1.44
Eli Lilly & Co. 1.79 1.93 1.88 1.79 1.80 1.68 1.38 1.42 1.48 1.55 1.48 1.62 1.70 1.96 1.56 1.57 1.56 1.36 1.36
Johnson & Johnson 2.69 2.77 2.87 2.86 2.91 2.86 3.04 2.89 2.93 3.16 3.05 2.99 2.93 2.98 3.15 3.15 3.14 2.95 2.89
Merck & Co. Inc. 3.06 2.74 2.29 2.73 2.79 2.40 2.45 2.22 2.33 2.46 2.36 2.35 2.29 2.34 2.48 2.52 2.56 2.41 2.51
Moderna Inc. 2.12 1.77 1.82 1.73 1.48 0.41 0.17
Pfizer Inc. 3.66 3.67 3.40 2.78 1.80 1.28 1.08 0.90 1.05 1.15 1.23 1.30 1.31 1.38 1.50 1.40 1.43 1.39 1.48
Regeneron Pharmaceuticals Inc. 0.96 1.27 1.25 0.88 0.82 0.56 0.58 0.55 0.57 0.55 0.55 0.50 0.42 0.41 0.38 0.41 0.45 0.52 0.55
Thermo Fisher Scientific Inc. 4.03 3.87 3.88 3.90 4.03 4.01 4.02 3.92 3.93 4.14 4.22 4.23 4.30 4.37 4.49 4.46 4.47 4.21 3.86

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Inventory turnover = (Cost of products soldQ2 2022 + Cost of products soldQ1 2022 + Cost of products soldQ4 2021 + Cost of products soldQ3 2021) ÷ Inventories
= (4,170 + 4,052 + 4,320 + 4,390) ÷ 3,396 = 4.99

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. AbbVie Inc. inventory turnover ratio deteriorated from Q4 2021 to Q1 2022 but then slightly improved from Q1 2022 to Q2 2022.

Receivables Turnover

AbbVie Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
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 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
Selected Financial Data (US$ in millions)
Net revenues 14,583  13,538  14,886  14,342  13,959  13,010  13,858  12,902  10,425  8,619  8,704  8,479  8,255  7,828  8,305  8,236  8,278  7,934  7,739  6,995  6,944  6,538 
Accounts receivable, net 11,237  10,733  9,977  9,281  9,914  9,588  8,822  8,416  8,354  6,362  5,428  5,529  5,482  5,680  5,384  5,780  5,793  5,841  5,088  4,891  4,859  4,677 
Short-term Activity Ratio
Receivables turnover1 5.10 5.29 5.63 5.94 5.42 5.24 5.19 4.83 4.34 5.35 6.13 5.94 5.95 5.75 6.08 5.57 5.34 5.07 5.55
Benchmarks
Receivables Turnover, Competitors2
Amgen Inc. 4.62 4.81 4.96 5.11 5.39 5.41 5.36 5.81 4.31 4.55 5.47 6.19 5.89 5.96 6.29 6.42 6.29 6.04 6.73
Eli Lilly & Co. 4.57 4.64 4.24 4.69 4.58 4.56 4.18 4.75 4.75 4.52 4.91 5.10 5.04 5.70 4.68 5.00 4.95 5.19 5.03
Johnson & Johnson 5.92 6.08 6.14 6.13 6.00 5.64 6.08 5.55 5.50 5.56 5.67 5.52 5.55 5.78 5.79 5.79 5.72 5.56 5.67
Merck & Co. Inc. 5.93 5.49 5.28 5.56 6.00 5.65 6.11 5.62 6.23 5.88 6.91 5.45 5.57 5.66 5.98 5.66 5.66 5.62 5.84
Moderna Inc. 8.25 6.89 5.57 3.48 3.03 0.60 0.14 0.00 0.00 0.00 0.00
Pfizer Inc. 6.68 6.99 7.08 5.82 5.23 4.70 5.28 4.29 4.96 4.93 5.93 5.62 5.48 5.61 6.68 5.32 5.39 5.57 6.39
Regeneron Pharmaceuticals Inc. 2.76 3.41 2.66 2.48 1.77 2.20 2.07 2.04 2.84 2.72 2.94 2.87 2.95 3.00 2.99 2.89 3.04 3.12 2.97
Thermo Fisher Scientific Inc. 5.53 5.21 4.92 7.03 6.99 6.46 5.61 5.49 5.86 5.69 5.87 5.75 6.02 5.93 5.89 6.20 5.90 5.52 5.39

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Receivables turnover = (Net revenuesQ2 2022 + Net revenuesQ1 2022 + Net revenuesQ4 2021 + Net revenuesQ3 2021) ÷ Accounts receivable, net
= (14,583 + 13,538 + 14,886 + 14,342) ÷ 11,237 = 5.10

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. AbbVie Inc. receivables turnover ratio deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Working Capital Turnover

AbbVie Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
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 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
Selected Financial Data (US$ in millions)
Current assets 29,100  26,509  27,928  28,957  25,999  26,569  24,173  23,009  21,256  51,758  49,519  20,166  15,100  14,413  16,945  18,465  13,845  20,444  21,223  18,930  16,962  15,547 
Less: Current liabilities 34,473  32,521  35,194  28,533  28,684  31,951  28,661  24,181  24,646  16,471  15,585  17,493  16,941  13,904  17,239  15,387  17,224  17,058  16,641  13,033  12,259  8,844 
Working capital (5,373) (6,012) (7,266) 424  (2,685) (5,382) (4,488) (1,172) (3,390) 35,287  33,934  2,673  (1,841) 509  (294) 3,078  (3,379) 3,386  4,582  5,897  4,703  6,703 
 
Net revenues 14,583  13,538  14,886  14,342  13,959  13,010  13,858  12,902  10,425  8,619  8,704  8,479  8,255  7,828  8,305  8,236  8,278  7,934  7,739  6,995  6,944  6,538 
Short-term Activity Ratio
Working capital turnover1 130.12 0.97 0.98 12.30 64.14 10.46 8.75 6.16
Benchmarks
Working Capital Turnover, Competitors2
Amgen Inc. 3.67 4.34 3.37 2.55 5.35 2.84 2.55 1.87 1.87 3.27 3.96 1.10 1.11 1.00 0.93 0.85 0.82 0.73 0.54
Eli Lilly & Co. 19.45 8.19 8.33 6.73 12.14 5.21 4.93 5.45 8.85 16.68 11.54 12.35 14.53 17.59 2.84 2.46 4.52 4.95 4.90
Johnson & Johnson 5.02 5.57 5.95 5.97 5.93 7.26 9.44 4.32 8.83 7.85 8.81 8.91 7.79 6.34 5.51 4.12 4.49 5.02 6.09
Merck & Co. Inc. 6.39 6.09 7.62 6.51 6.97 84.97 109.83 7.67 6.59 17.87 8.90 8.42 10.53 6.33 11.53 5.06 6.95 5.72 6.52
Moderna Inc. 3.29 3.07 2.55 3.15 2.88 0.59 0.10 0.00 0.00 0.00 0.00
Pfizer Inc. 5.05 6.10 4.78 4.30 4.21 3.60 4.58 3.16 3.31 57.45 3.57 3.39 2.97 4.25 10.34 7.05 4.90
Regeneron Pharmaceuticals Inc. 1.14 1.46 1.59 1.35 1.29 1.35 1.20 1.22 1.92 1.21 1.41 1.43 1.47 1.28 1.34 1.48 1.78 1.85 1.84
Thermo Fisher Scientific Inc. 6.03 6.13 5.87 2.30 3.10 3.36 2.76 2.37 2.69 3.54 4.48 5.40 6.70 6.10 5.44 5.47 6.61 8.75 8.82

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Working capital turnover = (Net revenuesQ2 2022 + Net revenuesQ1 2022 + Net revenuesQ4 2021 + Net revenuesQ3 2021) ÷ Working capital
= (14,583 + 13,538 + 14,886 + 14,342) ÷ -5,373 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

AbbVie Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
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 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
Selected Financial Data
Inventory turnover 4.99 4.96 5.58 5.76 5.45 5.40 4.65 3.66 2.36 4.17 4.10 3.86 3.89 4.40 4.81 4.47 4.91 4.23 4.39
Short-term Activity Ratio (no. days)
Average inventory processing period1 73 74 65 63 67 68 79 100 155 88 89 94 94 83 76 82 74 86 83
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Amgen Inc. 260 247 231 239 239 239 231 247 265 279 300 282 276 261 262 271 278 268 254
Eli Lilly & Co. 204 189 194 204 203 217 265 257 247 236 247 225 214 186 233 233 235 268 268
Johnson & Johnson 136 132 127 128 125 128 120 126 124 116 119 122 125 122 116 116 116 124 126
Merck & Co. Inc. 119 133 159 134 131 152 149 164 156 148 155 156 160 156 147 145 142 152 146
Moderna Inc. 172 206 201 211 247 897 2,141
Pfizer Inc. 100 99 107 131 203 284 338 405 348 316 296 281 279 264 244 261 254 262 246
Regeneron Pharmaceuticals Inc. 379 287 292 415 445 653 625 664 635 659 661 726 860 885 968 898 814 700 668
Thermo Fisher Scientific Inc. 91 94 94 94 91 91 91 93 93 88 87 86 85 84 81 82 82 87 95

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 4.99 = 73

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. AbbVie Inc. number of days of inventory outstanding deteriorated from Q4 2021 to Q1 2022 but then slightly improved from Q1 2022 to Q2 2022.

Average Receivable Collection Period

AbbVie Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
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 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
Selected Financial Data
Receivables turnover 5.10 5.29 5.63 5.94 5.42 5.24 5.19 4.83 4.34 5.35 6.13 5.94 5.95 5.75 6.08 5.57 5.34 5.07 5.55
Short-term Activity Ratio (no. days)
Average receivable collection period1 72 69 65 61 67 70 70 76 84 68 60 61 61 64 60 66 68 72 66
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Amgen Inc. 79 76 74 71 68 67 68 63 85 80 67 59 62 61 58 57 58 60 54
Eli Lilly & Co. 80 79 86 78 80 80 87 77 77 81 74 72 72 64 78 73 74 70 73
Johnson & Johnson 62 60 59 60 61 65 60 66 66 66 64 66 66 63 63 63 64 66 64
Merck & Co. Inc. 62 66 69 66 61 65 60 65 59 62 53 67 66 64 61 64 64 65 63
Moderna Inc. 44 53 66 105 120 606 2,539
Pfizer Inc. 55 52 52 63 70 78 69 85 74 74 62 65 67 65 55 69 68 65 57
Regeneron Pharmaceuticals Inc. 132 107 137 147 206 166 177 179 128 134 124 127 124 122 122 126 120 117 123
Thermo Fisher Scientific Inc. 66 70 74 52 52 56 65 66 62 64 62 63 61 62 62 59 62 66 68

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 5.10 = 72

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. AbbVie Inc. number of days of receivables outstanding deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.

Operating Cycle

AbbVie Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
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 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
Selected Financial Data
Average inventory processing period 73 74 65 63 67 68 79 100 155 88 89 94 94 83 76 82 74 86 83
Average receivable collection period 72 69 65 61 67 70 70 76 84 68 60 61 61 64 60 66 68 72 66
Short-term Activity Ratio
Operating cycle1 145 143 130 124 134 138 149 176 239 156 149 155 155 147 136 148 142 158 149
Benchmarks
Operating Cycle, Competitors2
Amgen Inc. 339 323 305 310 307 306 299 310 350 359 367 341 338 322 320 328 336 328 308
Eli Lilly & Co. 284 268 280 282 283 297 352 334 324 317 321 297 286 250 311 306 309 338 341
Johnson & Johnson 198 192 186 188 186 193 180 192 190 182 183 188 191 185 179 179 180 190 190
Merck & Co. Inc. 181 199 228 200 192 217 209 229 215 210 208 223 226 220 208 209 206 217 209
Moderna Inc. 216 259 267 316 367 1,503 4,680
Pfizer Inc. 155 151 159 194 273 362 407 490 422 390 358 346 346 329 299 330 322 327 303
Regeneron Pharmaceuticals Inc. 511 394 429 562 651 819 802 843 763 793 785 853 984 1,007 1,090 1,024 934 817 791
Thermo Fisher Scientific Inc. 157 164 168 146 143 147 156 159 155 152 149 149 146 146 143 141 144 153 163

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q2 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 73 + 72 = 145

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. AbbVie Inc. operating cycle deteriorated from Q4 2021 to Q1 2022 and from Q1 2022 to Q2 2022.