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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- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
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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), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31).
The analysis of the financial ratios over the specified periods reveals notable trends in asset utilization and equity efficiency.
- Net Fixed Asset Turnover
- This ratio remained stable initially at 0.35 from March 2013 through June 2013 and showed a gradual increase, reaching 0.41 by December 2013. The upward trend continued moderately into 2014, peaking at 0.41, but from 2015 onwards, a consistent decline occurred, dropping to a low of 0.24 by June 2016. After mid-2016, there was a recovery, gradually improving to 0.38 by September 2017. The fluctuations suggest periods of both improved and diminished efficiency in generating revenue from net fixed assets.
- Total Asset Turnover
- The total asset turnover ratio remained relatively flat around 0.25 during 2013, indicating constant efficiency in using total assets to generate sales. A slight increase was observed, reaching 0.28 late in 2013 and early 2014. Starting in 2015, a downtrend began, with the ratio falling steadily from 0.27 through 2016 to a low of 0.17 by December 2016. However, from early 2017, there was a modest improvement, reaching 0.24 by the third quarter of 2017. This pattern reflects a period of declining efficiency followed by a gradual recovery in asset utilization.
- Equity Turnover
- The equity turnover ratio displayed more pronounced variability. It held steady around 0.65 in early 2013 but experienced an upward shift mid-year, advancing to 0.85 by September 2013 and maintaining high levels close to 0.9 into early 2015. Subsequently, the ratio declined, dropping to approximately 0.63 by June 2016, indicating reduced sales generation relative to equity during that period. From late 2016 onward, a notable recovery took place, with the equity turnover rising sharply to 0.97 by September 2017, surpassing prior peak levels. This signifies improved efficiency in utilizing shareholders' equity to generate revenue.
Overall, the data indicates a cyclical pattern in asset and equity utilization, with periods of growth followed by declines and subsequent recoveries. The net fixed asset turnover and total asset turnover suggest temporary inefficiencies post-2014, while equity turnover exhibits a stronger rebound after mid-2016, potentially reflecting strategic shifts or operational improvements impacting equity use.
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 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | ||||||||||||||||||||||||||||||
| Occidental Petroleum 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), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31).
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 some variability across the observed periods. Starting at 3,412 million US dollars in the first quarter of 2012, revenues showed a minor decline mid-year but generally increased until reaching a peak of 4,385 million US dollars in the second quarter of 2014. Subsequently, revenues trended downward, with significant decreases notable from 2014 into 2016, hitting a low point of 1,634 million US dollars in the first half of 2016. After this trough, sales revenues began to recover, gradually increasing to 2,898 million US dollars by the first quarter of 2017. The overall pattern suggests a period of growth, followed by a marked decline and a moderate recovery towards the end of the reported timeframe.
- Net Properties and Equipment
- Net properties and equipment showed a modest but generally consistent downward trend over the periods reviewed. Starting from 38,166 million US dollars in the first quarter of 2012, this figure rose slightly and peaked around 41,589 million US dollars in the final quarter of 2014. After this peak, a progressive decrease is observed through to the third quarter of 2017, where the value stood at 27,832 million US dollars. This decline indicates asset reductions or impairments that possibly reflect strategic asset management or the impact of market conditions influencing capital investments and asset values.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio exhibited relative stability in the early periods, maintaining around 0.35 to 0.36 from late 2012 to early 2014. There was an upward trend towards 0.41 in the final quarter of 2013, suggesting improved efficiency or asset utilization during that period. However, post-2014, the ratio declined steadily to a low of 0.24 in late 2016, indicating a reduction in the company's ability to generate sales from its net fixed assets. Late 2016 to 2017 showed a recuperation, with the ratio climbing back to 0.38 by the third quarter of 2017, implying a partial recovery in operational efficiency or asset management effectiveness.
- Overall Analysis
- The data reveals a period of growth in revenues and asset base until around 2014, followed by a phase marked by significant declines in both sales and net properties and equipment. This period also saw a decrease in asset turnover, reflecting challenges in generating revenue efficiently from assets. The latter part of the timeline displays signs of stabilization and recovery in sales and turnover efficiency, despite continued reductions in the asset base. These trends likely reflect broader market or industry cycles and internal operational adjustments.
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 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | ||||||||||||||||||||||||||||||
| Occidental Petroleum 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), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31).
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
- The sales revenues exhibit a fluctuating trend over the observed quarters. Starting around 3,412 million US dollars in early 2012, revenues experienced a gradual increase through 2013 and early 2014, peaking near 4,385 million in mid-2014. However, subsequent quarters show a significant downward trend from late 2014 through 2015 and into early 2016, reaching a low near 1,634 million. A partial recovery is evident from mid-2016 onwards, with revenues rising to approximately 2,898 million by early 2017, before slightly declining again in mid-2017.
- Total Assets
- Total assets remained relatively stable from 2012 through early 2014, fluctuating around the mid-50,000 million US dollars range. Beginning in 2014, total assets started to decline steadily, dropping from around 61,689 million in late 2014 to approximately 43,128 million by late 2017. This general decrease suggests asset disposals, impairments, or other reductions in asset base over the analyzed period.
- Total Asset Turnover Ratio
- The total asset turnover ratio, available from late 2012 onward, shows slight improvement initially, moving from 0.25 to a peak near 0.28 by early 2014, indicating incremental efficiency in using assets to generate sales. However, from mid-2014 forward, the ratio declines consistently, reaching a low of approximately 0.17 by late 2016, before experiencing a modest recovery back to around 0.24 by late 2017. This pattern suggests that asset utilization decreased in the mid-part of the period but improved somewhat toward the end.
- Summary of Trends and Insights
- Overall, the data indicate a period of growth in revenues and asset base until early 2014, followed by a phase of contraction and asset base reduction. The decrease in sales revenues coincides with the reduction in total assets, implying financial challenges or strategic repositioning. The asset turnover ratio trend reflects fluctuations in operational efficiency, with an initial improvement, subsequent decline, and partial recovery by the end of the period. These patterns collectively point to a dynamic operational environment with periods of both expansion and recalibration.
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 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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. | ||||||||||||||||||||||||||||||
| Occidental Petroleum 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), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31).
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.
The financial data indicates several notable trends over the reported periods. Sales revenues exhibited fluctuations with a general downtrend starting in early 2015, following a peak in 2014. Specifically, revenues rose steadily from 2012 through 2014, reaching the highest values in the first half of 2014. However, from 2015 onward, sales revenues decreased markedly, hitting lower points near 2016 before showing moderate recovery toward the latter quarters of 2017. This pattern reflects volatility in revenue generation, potentially influenced by market conditions or operational factors.
Stockholders’ equity showed a declining trend after 2013. Initially, equity values increased slightly from 2012 through the first part of 2013, then created a peak in early 2013. From 2014 onwards, stockholders’ equity decreased consistently, with notable reductions occurring year over year through 2017. The decline in equity could suggest challenges related to retained earnings, asset impairments, or distributions exceeding earnings during this period.
The equity turnover ratio, available from 2012 Q3 onward, displayed moderate variability but an overall tendency to increase toward the end of the dataset. Early in the series, the ratio hovered around the 0.6–0.7 range, indicating moderate efficiency in using equity to generate sales. From 2014 to 2015, the ratio tends to rise, with several quarters nearing or exceeding 0.8, and finally approaching nearly 1.0 by Q3 2017. This upward trend suggests a gradual improvement in how effectively the company utilized its equity base to produce revenues, potentially reflecting operational adjustments or changes in asset and capital structure.
- Sales Revenues
- Increased steadily from 2012 through 2014, peaking in early 2014, followed by a significant decline starting in 2015 and bottoming around 2016, with a partial recovery by late 2017.
- Stockholders’ Equity
- Grew modestly through 2013 before entering a steady decline from 2014 onwards, indicating possible internal financial pressures or external market challenges affecting capital structure.
- Equity Turnover Ratio
- While initially stable in the 0.6 to 0.7 range, the ratio increased from 2014 to 2017, indicating better utilization of equity for generating revenues despite the declining equity base.