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)
Becton, Dickinson & Co., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Becton, Dickinson & Co. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Becton, Dickinson & Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Becton, Dickinson & Co. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Becton, Dickinson & Co. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Net Fixed Asset Turnover
Becton, Dickinson & Co., net fixed asset turnover calculation, comparison to benchmarks
| Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 20,248) | 17,117) | 17,290) | 15,983) | 12,093) | 12,483) | |
| Property, plant and equipment, net | 6,393) | 5,923) | 5,659) | 5,375) | 4,638) | 3,901) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover1 | 3.17 | 2.89 | 3.06 | 2.97 | 2.61 | 3.20 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||
| Abbott Laboratories | 4.81 | 3.83 | 3.97 | — | — | — | |
| Cigna Group | 46.73 | 37.85 | 34.45 | — | — | — | |
| CVS Health Corp. | 22.56 | 21.25 | 21.24 | — | — | — | |
| Elevance Health Inc. | 34.94 | 34.69 | 32.92 | — | — | — | |
| Humana Inc. | 26.97 | 32.05 | 32.93 | — | — | — | |
| Intuitive Surgical Inc. | 3.04 | 2.76 | 3.52 | — | — | — | |
| Medtronic PLC | 5.77 | 5.99 | 6.54 | 6.51 | — | — | |
| Shockwave Medical Inc. | 9.73 | 4.14 | 8.74 | — | — | — | |
| UnitedHealth Group Inc. | 31.81 | 29.64 | 27.60 | — | — | — | |
| Net Fixed Asset Turnover, Sector | |||||||
| Health Care Equipment & Services | 21.54 | 20.27 | 19.95 | — | — | — | |
| Net Fixed Asset Turnover, Industry | |||||||
| Health Care | 10.29 | 9.54 | 9.64 | — | — | — | |
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).
1 2021 Calculation
Net fixed asset turnover = Revenues ÷ Property, plant and equipment, net
= 20,248 ÷ 6,393 = 3.17
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. | Becton, Dickinson & Co. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Becton, Dickinson & Co., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 20,248) | 17,117) | 17,290) | 15,983) | 12,093) | 12,483) | |
| Property, plant and equipment, net | 6,393) | 5,923) | 5,659) | 5,375) | 4,638) | 3,901) | |
| Operating lease right-of-use assets (recorded in Other assets) | 446) | 418) | —) | —) | —) | —) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 6,839) | 6,341) | 5,659) | 5,375) | 4,638) | 3,901) | |
| Long-term Activity Ratio | |||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 2.96 | 2.70 | 3.06 | 2.97 | 2.61 | 3.20 | |
| Benchmarks | |||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||
| Abbott Laboratories | 4.26 | 3.42 | 3.56 | — | — | — | |
| Cigna Group | 41.37 | 33.46 | 30.72 | — | — | — | |
| CVS Health Corp. | 9.09 | 8.04 | 7.77 | — | — | — | |
| Elevance Health Inc. | 30.12 | 29.26 | 27.82 | — | — | — | |
| Humana Inc. | 22.09 | 27.07 | 27.22 | — | — | — | |
| Intuitive Surgical Inc. | 2.93 | 2.66 | 3.32 | — | — | — | |
| Medtronic PLC | 4.84 | 5.02 | 6.54 | 6.51 | — | — | |
| Shockwave Medical Inc. | 4.57 | 2.83 | 3.13 | — | — | — | |
| UnitedHealth Group Inc. | 21.54 | 19.55 | 18.97 | — | — | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | |||||||
| Health Care Equipment & Services | 13.77 | 12.52 | 12.33 | — | — | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | |||||||
| Health Care | 8.17 | 7.50 | 7.58 | — | — | — | |
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).
1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 20,248 ÷ 6,839 = 2.96
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Becton, Dickinson & Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Total Asset Turnover
Becton, Dickinson & Co., total asset turnover calculation, comparison to benchmarks
| Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 20,248) | 17,117) | 17,290) | 15,983) | 12,093) | 12,483) | |
| Total assets | 53,866) | 54,012) | 51,765) | 53,904) | 37,734) | 25,586) | |
| Long-term Activity Ratio | |||||||
| Total asset turnover1 | 0.38 | 0.32 | 0.33 | 0.30 | 0.32 | 0.49 | |
| Benchmarks | |||||||
| Total Asset Turnover, Competitors2 | |||||||
| Abbott Laboratories | 0.57 | 0.48 | 0.47 | — | — | — | |
| Cigna Group | 1.11 | 1.02 | 0.98 | — | — | — | |
| CVS Health Corp. | 1.25 | 1.16 | 1.15 | — | — | — | |
| Elevance Health Inc. | 1.41 | 1.39 | 1.33 | — | — | — | |
| Humana Inc. | 1.87 | 2.17 | 2.21 | — | — | — | |
| Intuitive Surgical Inc. | 0.42 | 0.39 | 0.46 | — | — | — | |
| Medtronic PLC | 0.32 | 0.32 | 0.34 | 0.33 | — | — | |
| Shockwave Medical Inc. | 0.69 | 0.25 | 0.19 | — | — | — | |
| UnitedHealth Group Inc. | 1.34 | 1.30 | 1.38 | — | — | — | |
| Total Asset Turnover, Sector | |||||||
| Health Care Equipment & Services | 1.13 | 1.08 | 1.07 | — | — | — | |
| Total Asset Turnover, Industry | |||||||
| Health Care | 0.76 | 0.70 | 0.71 | — | — | — | |
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).
1 2021 Calculation
Total asset turnover = Revenues ÷ Total assets
= 20,248 ÷ 53,866 = 0.38
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. | Becton, Dickinson & Co. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Equity Turnover
Becton, Dickinson & Co., equity turnover calculation, comparison to benchmarks
| Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | 20,248) | 17,117) | 17,290) | 15,983) | 12,093) | 12,483) | |
| Shareholders’ equity | 23,677) | 23,765) | 21,081) | 20,994) | 12,948) | 7,633) | |
| Long-term Activity Ratio | |||||||
| Equity turnover1 | 0.86 | 0.72 | 0.82 | 0.76 | 0.93 | 1.64 | |
| Benchmarks | |||||||
| Equity Turnover, Competitors2 | |||||||
| Abbott Laboratories | 1.20 | 1.06 | 1.03 | — | — | — | |
| Cigna Group | 3.66 | 3.16 | 3.36 | — | — | — | |
| CVS Health Corp. | 3.87 | 3.86 | 4.00 | — | — | — | |
| Elevance Health Inc. | 3.80 | 3.64 | 3.25 | — | — | — | |
| Humana Inc. | 5.15 | 5.54 | 5.35 | — | — | — | |
| Intuitive Surgical Inc. | 0.48 | 0.45 | 0.54 | — | — | — | |
| Medtronic PLC | 0.59 | 0.57 | 0.61 | 0.59 | — | — | |
| Shockwave Medical Inc. | 0.98 | 0.30 | 0.22 | — | — | — | |
| UnitedHealth Group Inc. | 3.98 | 3.90 | 4.17 | — | — | — | |
| Equity Turnover, Sector | |||||||
| Health Care Equipment & Services | 3.03 | 2.91 | 2.94 | — | — | — | |
| Equity Turnover, Industry | |||||||
| Health Care | 2.11 | 2.08 | 2.08 | — | — | — | |
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).
1 2021 Calculation
Equity turnover = Revenues ÷ Shareholders’ equity
= 20,248 ÷ 23,677 = 0.86
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. | Becton, Dickinson & Co. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |