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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- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
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Long-term Activity Ratios (Summary)
Anadarko Petroleum Corp., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).
The financial ratios analyzed demonstrate varying trends over the quarterly periods from March 2013 through September 2017, indicating fluctuations in asset utilization and equity efficiency.
- Net Fixed Asset Turnover
- This ratio showed a gradual increase from 0.35 in early 2013, reaching a peak of 0.41 in the third quarter of 2014. Subsequently, there was a consistent decline through 2015 and most of 2016, falling to 0.24 by the second quarter of 2016. Following this trough, the ratio exhibited a recovery trend, improving steadily to 0.38 by the third quarter of 2017. This pattern suggests initial improvements in fixed asset utilization followed by a period of reduced efficiency, with a recent resurgence.
- Total Asset Turnover
- The total asset turnover ratio demonstrated a modest upward trend from 0.25 in the first quarter of 2013 to approximately 0.28 by mid-2014. After this peak, the ratio declined progressively, reaching a low of 0.17 in the third quarter of 2016. Toward the end of the analyzed period, the ratio showed signs of recovery, climbing back to 0.24 by the third quarter of 2017. Overall, the trend reflects cycles of asset utilization efficiency, with a notable dip during 2015 and early 2016 and partial recovery thereafter.
- Equity Turnover
- The equity turnover ratio increased from around 0.65 in early 2013, peaking at 0.90 in the first quarter of 2015. Afterwards, a decreasing trend ensued, with the ratio falling to 0.63 by the third quarter of 2016. Notably, this metric reversed course strongly starting in late 2016, increasing to 0.97 by the third quarter of 2017, the highest in the reviewed period. This indicates fluctuating efficiency in generating revenues from shareholders’ equity, with a final strengthening phase in the latest quarters.
In summary, all three turnover ratios experienced a general pattern of growth in the early periods, followed by a decline through 2015 and much of 2016, and a subsequent recovery in 2017. This suggests initial gains in operational efficiency were tempered by challenges during the mid-period, with notable improvements emerging toward the end of the timeframe. The recovery in net fixed asset and equity turnover ratios is particularly pronounced, indicating enhanced utilization of fixed assets and equity financing in recent quarters.
Net Fixed Asset Turnover
Anadarko Petroleum Corp., net fixed asset turnover calculation (quarterly data)
| 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 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Sales revenues | |||||||||||||||||||||||||
| Net properties and equipment | |||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Net fixed asset turnover1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).
1 Q3 2017 Calculation
Net fixed asset turnover
= (Sales revenuesQ3 2017
+ Sales revenuesQ2 2017
+ Sales revenuesQ1 2017
+ Sales revenuesQ4 2016)
÷ Net properties and equipment
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Sales Revenues
- Sales revenues exhibited a cyclical pattern with a peak in 2014 at approximately 4,385 million US dollars in the second quarter, followed by a general downward trend until early 2016. From 2016 onwards, sales revenues showed a gradual recovery, rising from a low of 1,634 million US dollars in the first quarter of 2016 to around 2,898 million US dollars by the third quarter of 2017. Despite this recovery, revenues had not returned to the levels observed before the decline starting in 2014.
- Net Properties and Equipment
- The net properties and equipment values remained relatively stable with minor fluctuations between 2013 and 2015, peaking at approximately 41,589 million US dollars in the fourth quarter of 2014. After this peak, a steady decline was observed through 2016 and into 2017, reaching about 27,832 million US dollars by the third quarter of 2017. This downward trend suggests ongoing asset disposals, impairments, or depreciation outpacing capital additions during this period.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio, which measures the efficiency of using fixed assets to generate sales, initially showed an increasing trend from 0.35 in early 2013 to a peak of 0.41 in the third quarter of 2014. Following this peak, the ratio declined significantly to a low of 0.24 in mid-2016, reflecting decreased sales relative to the net fixed assets. From late 2016 to the third quarter of 2017, the ratio improved again, reaching 0.38, indicating better utilization of fixed assets in generating revenues towards the end of the period.
- Overall Analysis
- The period saw an initial phase of growth in sales revenues and asset valuation up to 2014, followed by a sharp downturn in sales and a reduction in net properties and equipment starting in late 2014 and persisting through 2016. The decline in fixed asset turnover ratio during this downturn suggests decreased operational efficiency or asset underutilization during the period of reduced sales. The latter part of the dataset shows signs of recovery, with improving sales revenues and turnover ratios, despite continued reduction in net fixed assets. This pattern indicates efforts towards operational restructuring or asset optimization in response to prior downturns.
Total Asset Turnover
Anadarko Petroleum Corp., total asset turnover calculation (quarterly data)
| 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 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Sales revenues | |||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).
1 Q3 2017 Calculation
Total asset turnover
= (Sales revenuesQ3 2017
+ Sales revenuesQ2 2017
+ Sales revenuesQ1 2017
+ Sales revenuesQ4 2016)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Sales Revenues
- Sales revenues exhibited an overall downward trend from March 2013 through September 2017. Beginning at approximately $3.7 billion in early 2013, revenue intensified slightly during 2014 to a peak near $4.4 billion in mid-year, but then faced a marked decline starting in late 2014. This decline continued through 2015 and 2016, reaching lows around $1.6 billion in early 2016. A recovery phase is observed afterward, with revenues progressing steadily upward through 2017, closing the period at about $2.6 billion, yet remaining below the higher levels seen in 2013 and 2014.
- Total Assets
- Total assets remained relatively stable between 2013 and 2014, hovering in the range of approximately $53 billion to $61 billion. However, from early 2015 onward, a consistent decrease is evident, with asset value diminishing year over year. By the end of the period in late 2017, total assets declined to near $43 billion, indicating a reduction of roughly 30% compared to the early 2013 levels.
- Total Asset Turnover
- The total asset turnover ratio showed minor fluctuations but generally decreased over the observed timeline. Initially, the ratio remained around 0.25 to 0.28 through 2013 and 2014, suggesting stable efficiency in utilizing assets to generate sales. From 2015, the ratio declined steadily to a low near 0.17 in late 2016, reflecting a deterioration in asset productivity. This metric slightly improved in 2017, rising back toward 0.24 by the third quarter, pointing to a gradual recovery in operational efficiency.
- Summary Insights
- The financial data reveals a period of peak operational scale and revenue around 2013-2014, followed by a significant downturn in both asset base and sales revenues, particularly evident from 2015 to 2016. The decrease in total assets alongside falling revenues suggests possible divestitures, asset impairments, or restructuring. Lower asset turnover ratios during this period indicate reduced efficiency in asset utilization, coinciding with the revenue contraction. Recovery signs in 2017, both in sales and asset turnover, could suggest initial success in reversing prior declines or adapting to new market conditions. Overall, the company faced challenges in maintaining asset levels and sustaining revenue growth during the period, but appears to have begun a modest recovery in the final year observed.
Equity Turnover
Anadarko Petroleum Corp., equity turnover calculation (quarterly data)
| Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Sales revenues | |||||||||||||||||||||||||
| Stockholders’ equity | |||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||
| Equity turnover1 | |||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||
| Chevron Corp. | |||||||||||||||||||||||||
| ConocoPhillips | |||||||||||||||||||||||||
| Exxon Mobil Corp. | |||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31).
1 Q3 2017 Calculation
Equity turnover
= (Sales revenuesQ3 2017
+ Sales revenuesQ2 2017
+ Sales revenuesQ1 2017
+ Sales revenuesQ4 2016)
÷ Stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
An analysis of the quarterly financial data reveals several notable trends and patterns over the examined periods.
- Sales Revenues
- Sales revenues exhibit a fluctuating pattern with periods of growth and decline. Initially, revenues increased moderately from approximately $3.7 billion to $4.3 billion between early 2013 and mid-2014, peaking in the second quarter of 2014. However, from the third quarter of 2014 onward, there is a clear downward trend with revenues decreasing sharply through to early 2016, reaching a low point near $1.6 billion. Subsequently, the company experienced a recovery phase, with revenues climbing steadily to around $2.9 billion by the first quarter of 2017, though they did not regain previous peak levels. This cyclical pattern suggests exposure to market or operational volatility during the observed time frame.
- Stockholders’ Equity
- Stockholders' equity shows a general declining trend over the period analyzed. Starting at roughly $21.1 billion in the first quarter of 2013, equity maintained relative stability through 2013 but began to decline noticeably in 2014. By the first quarter of 2016, equity had decreased substantially to approximately $11.7 billion, continuing a modest downward trend thereafter. The decline in equity may indicate cumulative losses, dividend payments exceeding earnings, or share repurchases, reflecting challenges in profitability or capital management.
- Equity Turnover Ratio
- The equity turnover ratio, representing sales relative to shareholders' equity, initially shows moderate values between 0.62 and 0.68 in 2013. This ratio increases notably during 2014 to a peak near 0.85, correlating with relatively higher sales and decreasing equity. In the period from 2015 to early 2017, the ratio displays volatility but generally trends upward, reaching approximately 0.97 by late 2017. The rising equity turnover ratio in the context of declining equity and fluctuating sales suggests improved efficiency in using equity to generate sales, potentially driven by the reduced equity base or better asset utilization.
Overall, the data indicates that while sales revenues experienced significant volatility with a pronounced dip followed by partial recovery, stockholders’ equity consistently declined, pointing to underlying financial challenges. The increasing equity turnover ratio implies enhanced capital efficiency despite these difficulties, which may reflect strategic adjustments or responses to prevailing market conditions.