Stock Analysis on Net

Altria Group Inc. (NYSE:MO)

Analysis of Short-term (Operating) Activity Ratios 

Microsoft Excel LibreOffice Calc

Short-term Activity Ratios (Summary)

Altria Group Inc., short-term (operating) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Turnover Ratios
Inventory turnover 5.96 3.98 3.09 3.16 3.39
Receivables turnover 553.47 190.90 165.20 178.62 180.11
Payables turnover 15.86 20.57 21.80 18.48 20.17
Working capital turnover
Average No. Days
Average inventory processing period 61 92 118 115 108
Add: Average receivable collection period 1 2 2 2 2
Operating cycle 62 94 120 117 110
Less: Average payables payment period 23 18 17 20 18
Cash conversion cycle 39 76 103 97 92

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Altria Group Inc. inventory turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Receivables turnover An activity ratio equal to revenue divided by receivables. Altria Group Inc. receivables turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Altria Group Inc. payables turnover ratio decreased from 2019 to 2020 and from 2020 to 2021.

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. Altria Group Inc. number of days of inventory outstanding improved from 2019 to 2020 and from 2020 to 2021.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Altria Group Inc. operating cycle improved from 2019 to 2020 and from 2020 to 2021.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Altria Group Inc. number of days of payables outstanding increased from 2019 to 2020 and from 2020 to 2021.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Altria Group Inc. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021.

Inventory Turnover

Altria Group Inc., inventory turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cost of sales 7,119  7,818  7,085  7,373  7,543 
Inventories 1,194  1,966  2,293  2,331  2,225 
Short-term Activity Ratio
Inventory turnover1 5.96 3.98 3.09 3.16 3.39
Benchmarks
Inventory Turnover, Competitors2
Coca-Cola Co. 4.50 4.11 4.33 4.26 4.99
Mondelēz International Inc. 6.45 6.10 6.10 6.01 6.19
PepsiCo Inc. 8.53 7.62 9.03 9.39 9.77
Philip Morris International Inc. 1.15 1.00 1.14 1.22 1.18
Inventory Turnover, Sector
Food, Beverage & Tobacco 4.27 3.64 3.75 3.82 3.95
Inventory Turnover, Industry
Consumer Staples 8.36 7.80 7.74 7.65 7.58

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Inventory turnover = Cost of sales ÷ Inventories
= 7,119 ÷ 1,194 = 5.96

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. Altria Group Inc. inventory turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Receivables Turnover

Altria Group Inc., receivables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net revenues 26,013  26,153  25,110  25,364  25,576 
Receivables 47  137  152  142  142 
Short-term Activity Ratio
Receivables turnover1 553.47 190.90 165.20 178.62 180.11
Benchmarks
Receivables Turnover, Competitors2
Coca-Cola Co. 11.01 10.50 9.38 9.38 9.66
Mondelēz International Inc. 12.29 11.57 11.69 11.47 9.62
PepsiCo Inc. 9.16 8.37 8.59 9.05 9.04
Philip Morris International Inc. 26.33 26.18 25.30 27.06 24.45
Receivables Turnover, Sector
Food, Beverage & Tobacco 14.41 13.75 13.54 14.32 13.67
Receivables Turnover, Industry
Consumer Staples 35.08 34.13 32.02 33.33 31.53

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Receivables turnover = Net revenues ÷ Receivables
= 26,013 ÷ 47 = 553.47

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. Altria Group Inc. receivables turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Payables Turnover

Altria Group Inc., payables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Cost of sales 7,119  7,818  7,085  7,373  7,543 
Accounts payable 449  380  325  399  374 
Short-term Activity Ratio
Payables turnover1 15.86 20.57 21.80 18.48 20.17
Benchmarks
Payables Turnover, Competitors2
Coca-Cola Co. 3.34 3.82 3.84 4.71 5.79
Mondelēz International Inc. 2.60 2.60 2.65 2.69 2.77
PepsiCo Inc. 3.77 3.59 3.76 4.07 4.28
Philip Morris International Inc. 3.01 3.44 4.57 5.20 4.65
Payables Turnover, Sector
Food, Beverage & Tobacco 3.49 3.62 3.84 4.17 4.38
Payables Turnover, Industry
Consumer Staples 6.87 6.88 6.99 7.07 7.45

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Payables turnover = Cost of sales ÷ Accounts payable
= 7,119 ÷ 449 = 15.86

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Altria Group Inc. payables turnover ratio decreased from 2019 to 2020 and from 2020 to 2021.

Working Capital Turnover

Altria Group Inc., working capital turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Current assets 6,083  7,117  4,824  4,299  4,344 
Less: Current liabilities 8,579  9,063  8,174  21,193  6,792 
Working capital (2,496) (1,946) (3,350) (16,894) (2,448)
 
Net revenues 26,013  26,153  25,110  25,364  25,576 
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Coca-Cola Co. 14.90 7.12 22.58 3.79
Mondelēz International Inc.
PepsiCo Inc. 6.04
Philip Morris International Inc. 40.52 46.35 35.46 13.87
Working Capital Turnover, Sector
Food, Beverage & Tobacco 15.45
Working Capital Turnover, Industry
Consumer Staples 544.77

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Working capital turnover = Net revenues ÷ Working capital
= 26,013 ÷ -2,496 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

Altria Group Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Inventory turnover 5.96 3.98 3.09 3.16 3.39
Short-term Activity Ratio (no. days)
Average inventory processing period1 61 92 118 115 108
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Coca-Cola Co. 81 89 84 86 73
Mondelēz International Inc. 57 60 60 61 59
PepsiCo Inc. 43 48 40 39 37
Philip Morris International Inc. 317 366 321 299 308
Average Inventory Processing Period, Sector
Food, Beverage & Tobacco 85 100 97 96 92
Average Inventory Processing Period, Industry
Consumer Staples 44 47 47 48 48

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.96 = 61

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. Altria Group Inc. number of days of inventory outstanding improved from 2019 to 2020 and from 2020 to 2021.

Average Receivable Collection Period

Altria Group Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Receivables turnover 553.47 190.90 165.20 178.62 180.11
Short-term Activity Ratio (no. days)
Average receivable collection period1 1 2 2 2 2
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Coca-Cola Co. 33 35 39 39 38
Mondelēz International Inc. 30 32 31 32 38
PepsiCo Inc. 40 44 43 40 40
Philip Morris International Inc. 14 14 14 13 15
Average Receivable Collection Period, Sector
Food, Beverage & Tobacco 25 27 27 25 27
Average Receivable Collection Period, Industry
Consumer Staples 10 11 11 11 12

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 553.47 = 1

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.

Operating Cycle

Altria Group Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Average inventory processing period 61 92 118 115 108
Average receivable collection period 1 2 2 2 2
Short-term Activity Ratio
Operating cycle1 62 94 120 117 110
Benchmarks
Operating Cycle, Competitors2
Coca-Cola Co. 114 124 123 125 111
Mondelēz International Inc. 87 92 91 93 97
PepsiCo Inc. 83 92 83 79 77
Philip Morris International Inc. 331 380 335 312 323
Operating Cycle, Sector
Food, Beverage & Tobacco 110 127 124 121 119
Operating Cycle, Industry
Consumer Staples 54 58 58 59 60

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 61 + 1 = 62

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. Altria Group Inc. operating cycle improved from 2019 to 2020 and from 2020 to 2021.

Average Payables Payment Period

Altria Group Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Payables turnover 15.86 20.57 21.80 18.48 20.17
Short-term Activity Ratio (no. days)
Average payables payment period1 23 18 17 20 18
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Coca-Cola Co. 109 96 95 77 63
Mondelēz International Inc. 141 140 138 136 132
PepsiCo Inc. 97 102 97 90 85
Philip Morris International Inc. 121 106 80 70 78
Average Payables Payment Period, Sector
Food, Beverage & Tobacco 105 101 95 88 83
Average Payables Payment Period, Industry
Consumer Staples 53 53 52 52 49

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 15.86 = 23

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Altria Group Inc. number of days of payables outstanding increased from 2019 to 2020 and from 2020 to 2021.

Cash Conversion Cycle

Altria Group Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data
Average inventory processing period 61 92 118 115 108
Average receivable collection period 1 2 2 2 2
Average payables payment period 23 18 17 20 18
Short-term Activity Ratio
Cash conversion cycle1 39 76 103 97 92
Benchmarks
Cash Conversion Cycle, Competitors2
Coca-Cola Co. 5 28 28 48 48
Mondelēz International Inc. -54 -48 -47 -43 -35
PepsiCo Inc. -14 -10 -14 -11 -8
Philip Morris International Inc. 210 274 255 242 245
Cash Conversion Cycle, Sector
Food, Beverage & Tobacco 5 26 29 33 36
Cash Conversion Cycle, Industry
Consumer Staples 1 5 6 7 11

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 61 + 123 = 39

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Altria Group Inc. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021.