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)
Air Products & Chemicals Inc., short-term (operating) activity ratios (quarterly data)
Based on: 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
Short-term activity ratio | Description | The company |
---|---|---|
Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Air Products & Chemicals Inc.’s inventory turnover ratio deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 not reaching Q2 2020 level. |
Receivables turnover | An activity ratio equal to revenue divided by receivables. | Air Products & Chemicals Inc.’s receivables turnover ratio deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level. |
Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Air Products & Chemicals Inc.’s working capital turnover ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved 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. | |
Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Air Products & Chemicals Inc.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level. |
Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Air Products & Chemicals Inc.’s operating cycle deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level. |
Inventory Turnover
Air Products & Chemicals Inc., inventory turnover calculation (quarterly data)
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
Cost of sales | 1,566,500 | 1,344,900 | 1,460,100 | 1,486,600 | 1,490,800 | 1,466,000 | 1,474,700 | 1,544,000 | 1,565,800 | 1,545,400 | 1,506,500 | 1,571,800 | 1,545,300 | 1,486,200 | 1,403,800 | 1,318,100 | 1,648,700 | 1,639,300 | 1,519,000 | 1,595,700 | 1,697,100 | 1,716,400 | 1,699,600 | 1,831,000 | |||||||
Inventories | 404,800 | 410,900 | 399,700 | 400,600 | 388,300 | 408,300 | 408,300 | 403,400 | 396,100 | 322,100 | 339,900 | 347,400 | 335,400 | 293,300 | 322,800 | 330,700 | 619,900 | 611,100 | 649,800 | 665,600 | 657,800 | 681,900 | 693,300 | 709,700 | |||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||
Inventory turnover1 | 14.47 | 14.07 | 14.77 | 14.77 | 15.39 | 14.82 | 15.01 | 15.27 | 15.63 | 19.15 | 17.98 | 17.29 | 17.15 | 19.97 | 18.62 | 18.52 | 10.33 | 10.56 | 10.05 | 10.08 | 10.56 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||||
Inventory Turnover, Competitors2 | |||||||||||||||||||||||||||||||
Ecolab Inc. | — | 6.00 | 6.65 | 5.72 | 5.79 | 5.50 | 5.36 | 5.26 | 5.58 | 5.26 | 5.17 | 5.05 | 5.12 | 4.77 | 4.79 | 4.87 | 5.23 | 5.20 | 5.31 | 5.11 | 5.20 | — | — | — | |||||||
Linde plc | — | 8.93 | 9.16 | 9.69 | 9.81 | 9.94 | 8.24 | 6.91 | 5.50 | 10.89 | 11.08 | 10.64 | 10.51 | 10.69 | 10.83 | 10.74 | 10.65 | 10.80 | 10.31 | 10.51 | 11.22 | — | — | — |
Based on: 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Q4 2020 Calculation
Inventory turnover
= (Cost of salesQ4 2020
+ Cost of salesQ3 2020
+ Cost of salesQ2 2020
+ Cost of salesQ1 2020)
÷ Inventories
= (1,566,500 + 1,344,900 + 1,460,100 + 1,486,600)
÷ 404,800 = 14.47
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. | Air Products & Chemicals Inc.’s inventory turnover ratio deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 not reaching Q2 2020 level. |
Receivables Turnover
Air Products & Chemicals Inc., receivables turnover calculation (quarterly data)
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
Sales | 2,320,100 | 2,065,200 | 2,216,300 | 2,254,700 | 2,283,200 | 2,224,000 | 2,187,700 | 2,224,000 | 2,298,900 | 2,259,000 | 2,155,700 | 2,216,600 | 2,203,100 | 2,121,900 | 1,980,100 | 1,882,500 | 2,463,000 | 2,434,400 | 2,271,200 | 2,355,800 | 2,449,400 | 2,470,200 | 2,414,500 | 2,560,800 | |||||||
Trade receivables, net | 1,274,800 | 1,409,700 | 1,399,400 | 1,288,600 | 1,260,200 | 1,340,700 | 1,258,500 | 1,268,200 | 1,207,200 | 1,227,600 | 1,252,300 | 1,233,400 | 1,174,000 | 1,101,200 | 1,176,300 | 1,063,300 | 1,439,900 | 1,563,200 | 1,373,300 | 1,288,500 | 1,406,200 | 1,440,800 | 1,381,400 | 1,430,400 | |||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||
Receivables turnover1 | 6.95 | 6.26 | 6.42 | 6.95 | 7.08 | 6.66 | 7.13 | 7.05 | 7.40 | 7.20 | 6.95 | 6.91 | 6.97 | 7.67 | 7.45 | 8.51 | 6.61 | 6.08 | 6.95 | 7.52 | 7.04 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||||
Receivables Turnover, Competitors2 | |||||||||||||||||||||||||||||||
Ecolab Inc. | — | 5.65 | 6.17 | 5.25 | 5.33 | 5.45 | 5.38 | 5.46 | 5.51 | 5.49 | 5.45 | 5.50 | 5.38 | 5.34 | 5.46 | 5.61 | 5.62 | 5.62 | 5.73 | 5.93 | 5.67 | — | — | — | |||||||
Linde plc | — | 6.71 | 6.81 | 6.86 | 6.53 | 6.36 | 5.13 | 4.29 | 3.47 | 6.50 | 6.36 | 6.16 | 6.34 | 6.15 | 6.10 | 6.22 | 6.42 | 6.17 | 6.01 | 6.25 | 6.73 | — | — | — |
Based on: 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Q4 2020 Calculation
Receivables turnover
= (SalesQ4 2020
+ SalesQ3 2020
+ SalesQ2 2020
+ SalesQ1 2020)
÷ Trade receivables, net
= (2,320,100 + 2,065,200 + 2,216,300 + 2,254,700)
÷ 1,274,800 = 6.95
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. | Air Products & Chemicals Inc.’s receivables turnover ratio deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level. |
Working Capital Turnover
Air Products & Chemicals Inc., working capital turnover calculation (quarterly data)
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
Current assets | 8,684,900 | 9,006,500 | 4,688,500 | 4,719,700 | 4,618,300 | 4,915,200 | 4,895,200 | 5,089,900 | 5,082,200 | 5,055,500 | 5,396,300 | 5,355,500 | 5,876,700 | 5,347,000 | 5,294,100 | 3,548,800 | 4,317,300 | 3,378,800 | 3,031,200 | 2,779,000 | 2,910,800 | 3,102,300 | 3,114,500 | 3,137,200 | |||||||
Less: Current liabilities | 2,416,700 | 2,591,000 | 1,806,900 | 1,819,000 | 1,820,900 | 2,155,200 | 2,073,000 | 2,303,500 | 2,338,300 | 2,109,800 | 1,752,300 | 1,831,600 | 2,489,000 | 2,433,200 | 2,602,300 | 2,929,800 | 3,283,300 | 3,658,900 | 3,839,100 | 3,572,400 | 3,648,100 | 2,918,900 | 3,081,300 | 3,001,900 | |||||||
Working capital | 6,268,200 | 6,415,500 | 2,881,600 | 2,900,700 | 2,797,400 | 2,760,000 | 2,822,200 | 2,786,400 | 2,743,900 | 2,945,700 | 3,644,000 | 3,523,900 | 3,387,700 | 2,913,800 | 2,691,800 | 619,000 | 1,034,000 | (280,100) | (807,900) | (793,400) | (737,300) | 183,400 | 33,200 | 135,300 | |||||||
Sales | 2,320,100 | 2,065,200 | 2,216,300 | 2,254,700 | 2,283,200 | 2,224,000 | 2,187,700 | 2,224,000 | 2,298,900 | 2,259,000 | 2,155,700 | 2,216,600 | 2,203,100 | 2,121,900 | 1,980,100 | 1,882,500 | 2,463,000 | 2,434,400 | 2,271,200 | 2,355,800 | 2,449,400 | 2,470,200 | 2,414,500 | 2,560,800 | |||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||
Working capital turnover1 | 1.41 | 1.37 | 3.12 | 3.09 | 3.19 | 3.24 | 3.18 | 3.21 | 3.25 | 3.00 | 2.39 | 2.42 | 2.42 | 2.90 | 3.25 | 14.62 | 9.21 | — | — | — | — | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||||
Working Capital Turnover, Competitors2 | |||||||||||||||||||||||||||||||
Ecolab Inc. | — | 6.95 | 7.17 | 6.87 | 12.44 | 15.61 | 20.35 | 24.71 | 14.79 | 11.81 | 14.61 | 23.04 | 11.88 | 15.78 | 62.53 | 129.58 | 10.44 | — | — | 376.97 | — | — | — | — | |||||||
Linde plc | — | — | — | — | — | — | 143.68 | 4.77 | 3.45 | — | — | — | — | 34.67 | 143.71 | 14.06 | 26.20 | 12.66 | 12.99 | 9.83 | 14.70 | — | — | — |
Based on: 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Q4 2020 Calculation
Working capital turnover
= (SalesQ4 2020
+ SalesQ3 2020
+ SalesQ2 2020
+ SalesQ1 2020)
÷ Working capital
= (2,320,100 + 2,065,200 + 2,216,300 + 2,254,700)
÷ 6,268,200 = 1.41
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. | Air Products & Chemicals Inc.’s working capital turnover ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020. |
Average Inventory Processing Period
Air Products & Chemicals Inc., average inventory processing period calculation (quarterly data)
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||||||||||||||||||||||||||
Inventory turnover | 14.47 | 14.07 | 14.77 | 14.77 | 15.39 | 14.82 | 15.01 | 15.27 | 15.63 | 19.15 | 17.98 | 17.29 | 17.15 | 19.97 | 18.62 | 18.52 | 10.33 | 10.56 | 10.05 | 10.08 | 10.56 | — | — | — | |||||||
Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||
Average inventory processing period1 | 25 | 26 | 25 | 25 | 24 | 25 | 24 | 24 | 23 | 19 | 20 | 21 | 21 | 18 | 20 | 20 | 35 | 35 | 36 | 36 | 35 | — | — | — | |||||||
Benchmarks (no. days) | |||||||||||||||||||||||||||||||
Average Inventory Processing Period, Competitors2 | |||||||||||||||||||||||||||||||
Ecolab Inc. | — | 61 | 55 | 64 | 63 | 66 | 68 | 69 | 65 | 69 | 71 | 72 | 71 | 77 | 76 | 75 | 70 | 70 | 69 | 71 | 70 | — | — | — | |||||||
Linde plc | — | 41 | 40 | 38 | 37 | 37 | 44 | 53 | 66 | 34 | 33 | 34 | 35 | 34 | 34 | 34 | 34 | 34 | 35 | 35 | 33 | — | — | — |
Based on: 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Q4 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 14.47 = 25
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. |
Average Receivable Collection Period
Air Products & Chemicals Inc., average receivable collection period calculation (quarterly data)
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||||||||||||||||||||||||||
Receivables turnover | 6.95 | 6.26 | 6.42 | 6.95 | 7.08 | 6.66 | 7.13 | 7.05 | 7.40 | 7.20 | 6.95 | 6.91 | 6.97 | 7.67 | 7.45 | 8.51 | 6.61 | 6.08 | 6.95 | 7.52 | 7.04 | — | — | — | |||||||
Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||
Average receivable collection period1 | 53 | 58 | 57 | 53 | 52 | 55 | 51 | 52 | 49 | 51 | 53 | 53 | 52 | 48 | 49 | 43 | 55 | 60 | 53 | 49 | 52 | — | — | — | |||||||
Benchmarks (no. days) | |||||||||||||||||||||||||||||||
Average Receivable Collection Period, Competitors2 | |||||||||||||||||||||||||||||||
Ecolab Inc. | — | 65 | 59 | 70 | 68 | 67 | 68 | 67 | 66 | 67 | 67 | 66 | 68 | 68 | 67 | 65 | 65 | 65 | 64 | 62 | 64 | — | — | — | |||||||
Linde plc | — | 54 | 54 | 53 | 56 | 57 | 71 | 85 | 105 | 56 | 57 | 59 | 58 | 59 | 60 | 59 | 57 | 59 | 61 | 58 | 54 | — | — | — |
Based on: 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Q4 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 6.95 = 53
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. | Air Products & Chemicals Inc.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level. |
Operating Cycle
Air Products & Chemicals Inc., operating cycle calculation (quarterly data)
No. days
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 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||||||||||||||||||||||||||
Average inventory processing period | 25 | 26 | 25 | 25 | 24 | 25 | 24 | 24 | 23 | 19 | 20 | 21 | 21 | 18 | 20 | 20 | 35 | 35 | 36 | 36 | 35 | — | — | — | |||||||
Average receivable collection period | 53 | 58 | 57 | 53 | 52 | 55 | 51 | 52 | 49 | 51 | 53 | 53 | 52 | 48 | 49 | 43 | 55 | 60 | 53 | 49 | 52 | — | — | — | |||||||
Short-term Activity Ratio | |||||||||||||||||||||||||||||||
Operating cycle1 | 78 | 84 | 82 | 78 | 76 | 80 | 75 | 76 | 72 | 70 | 73 | 74 | 73 | 66 | 69 | 63 | 90 | 95 | 89 | 85 | 87 | — | — | — | |||||||
Benchmarks | |||||||||||||||||||||||||||||||
Operating Cycle, Competitors2 | |||||||||||||||||||||||||||||||
Ecolab Inc. | — | 126 | 114 | 134 | 131 | 133 | 136 | 136 | 131 | 136 | 138 | 138 | 139 | 145 | 143 | 140 | 135 | 135 | 133 | 133 | 134 | — | — | — | |||||||
Linde plc | — | 95 | 94 | 91 | 93 | 94 | 115 | 138 | 171 | 90 | 90 | 93 | 93 | 93 | 94 | 93 | 91 | 93 | 96 | 93 | 87 | — | — | — |
Based on: 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Q4 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 25 + 53 = 78
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. | Air Products & Chemicals Inc.’s operating cycle deteriorated from Q2 2020 to Q3 2020 but then improved from Q3 2020 to Q4 2020 exceeding Q2 2020 level. |