Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Baxter International Inc., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Baxter International Inc. net fixed asset turnover ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Baxter International Inc. total asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Baxter International Inc. equity turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Net Fixed Asset Turnover
Baxter International Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 9,968) | 16,671) | 15,259) | 14,190) | 13,893) | |
| Property, plant and equipment, net | 4,386) | 8,698) | 7,832) | 6,098) | 5,525) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 2.27 | 1.92 | 1.95 | 2.33 | 2.51 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Abbott Laboratories | — | — | — | — | — | |
| Cigna Group | — | — | — | — | — | |
| CVS Health Corp. | — | — | — | — | — | |
| Danaher Corp. | — | — | — | — | — | |
| Elevance Health Inc. | — | — | — | — | — | |
| Humana Inc. | — | — | — | — | — | |
| Intuitive Surgical Inc. | — | — | — | — | — | |
| Medtronic PLC | — | — | — | — | — | |
| UnitedHealth Group Inc. | — | — | — | — | — | |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 2015 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 9,968 ÷ 4,386 = 2.27
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Baxter International Inc. net fixed asset turnover ratio deteriorated from 2013 to 2014 but then improved from 2014 to 2015 exceeding 2013 level. |
Total Asset Turnover
Baxter International Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 9,968) | 16,671) | 15,259) | 14,190) | 13,893) | |
| Total assets | 20,975) | 25,917) | 25,869) | 20,390) | 19,073) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.48 | 0.64 | 0.59 | 0.70 | 0.73 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Abbott Laboratories | — | — | — | — | — | |
| Cigna Group | — | — | — | — | — | |
| CVS Health Corp. | — | — | — | — | — | |
| Danaher Corp. | — | — | — | — | — | |
| Elevance Health Inc. | — | — | — | — | — | |
| Humana Inc. | — | — | — | — | — | |
| Intuitive Surgical Inc. | — | — | — | — | — | |
| Medtronic PLC | — | — | — | — | — | |
| UnitedHealth Group Inc. | — | — | — | — | — | |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 2015 Calculation
Total asset turnover = Net sales ÷ Total assets
= 9,968 ÷ 20,975 = 0.48
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Baxter International Inc. total asset turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |
Equity Turnover
Baxter International Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net sales | 9,968) | 16,671) | 15,259) | 14,190) | 13,893) | |
| Total Baxter shareholders’ equity | 8,846) | 8,120) | 8,463) | 6,938) | 6,585) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 1.13 | 2.05 | 1.80 | 2.05 | 2.11 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Abbott Laboratories | — | — | — | — | — | |
| Cigna Group | — | — | — | — | — | |
| CVS Health Corp. | — | — | — | — | — | |
| Danaher Corp. | — | — | — | — | — | |
| Elevance Health Inc. | — | — | — | — | — | |
| Humana Inc. | — | — | — | — | — | |
| Intuitive Surgical Inc. | — | — | — | — | — | |
| Medtronic PLC | — | — | — | — | — | |
| UnitedHealth Group Inc. | — | — | — | — | — | |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
1 2015 Calculation
Equity turnover = Net sales ÷ Total Baxter shareholders’ equity
= 9,968 ÷ 8,846 = 1.13
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Baxter International Inc. equity turnover ratio improved from 2013 to 2014 but then deteriorated significantly from 2014 to 2015. |