Short-term (Operating) Activity Analysis
Quarterly Data

Difficulty: Beginner


Ratios (Summary)

Bristol-Myers Squibb Co., short-term (operating) activity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 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
Turnover Ratios
Inventory turnover 5.09 5.20 5.19 5.20 4.62 4.53 3.72 3.99 3.05 3.00 3.08 3.20 3.47 2.94 2.65 2.52 2.71 2.65 2.73 3.08
Payables turnover 3.68 3.45 3.70 2.70 3.40 3.55 3.43 2.97 3.21 2.86 2.67 2.50 3.14 2.08 1.62 1.58 1.65 1.83 1.81 1.81
Working capital turnover 4.04 5.09 3.91 3.64 3.39 3.52 3.58 3.64 3.98 3.58 4.13 5.86 2.33 2.26 1.65 1.90 1.93 1.90 1.87 1.90
Average No. of Days
Average inventory processing period 72 70 70 70 79 81 98 92 120 122 119 114 105 124 138 145 135 138 134 118
Less: Average payables payment period 99 106 99 135 107 103 106 123 114 127 137 146 116 175 225 231 221 199 202 202

Based on: 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-28), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-29), 10-K (filing date: 2014-02-14), 10-Q (filing date: 2013-10-23), 10-Q (filing date: 2013-07-25), 10-Q (filing date: 2013-04-25).

Ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Bristol-Myers Squibb Co.'s inventory turnover improved from Q1 2018 to Q2 2018 but then deteriorated significantly from Q2 2018 to Q3 2018.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Bristol-Myers Squibb Co.'s payables turnover declined from Q1 2018 to Q2 2018 but then increased from Q2 2018 to Q3 2018 not reaching Q1 2018 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Bristol-Myers Squibb Co.'s working capital turnover improved from Q1 2018 to Q2 2018 but then slightly deteriorated from Q2 2018 to Q3 2018 not reaching Q1 2018 level.
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.
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.

Inventory Turnover

Bristol-Myers Squibb Co., inventory turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 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 (USD $ in millions)
Cost of products sold 1,648  1,625  1,584  1,673  1,572  1,562  1,259  1,383  1,305  1,206  1,052  952  1,097  1,013  847  966  1,007  991  968  1,273  1,175  1,108  1,063 
Inventories 1,282  1,242  1,231  1,166  1,250  1,217  1,384  1,241  1,482  1,437  1,336  1,221  1,130  1,304  1,437  1,560  1,565  1,666  1,655  1,498  1,640  1,785  1,791 
Ratio
Inventory turnover1 5.09 5.20 5.19 5.20 4.62 4.53 3.72 3.99 3.05 3.00 3.08 3.20 3.47 2.94 2.65 2.52 2.71 2.65 2.73 3.08

Based on: 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-28), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-29), 10-K (filing date: 2014-02-14), 10-Q (filing date: 2013-10-23), 10-Q (filing date: 2013-07-25), 10-Q (filing date: 2013-04-25).

Q3 2018 Calculations

1 Inventory turnover = (Cost of products soldQ3 2018 + Cost of products soldQ2 2018 + Cost of products soldQ1 2018 + Cost of products soldQ4 2017) ÷ Inventories
= (1,648 + 1,625 + 1,584 + 1,673) ÷ 1,282 = 5.09

Ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Bristol-Myers Squibb Co.'s inventory turnover improved from Q1 2018 to Q2 2018 but then deteriorated significantly from Q2 2018 to Q3 2018.

Payables Turnover

Bristol-Myers Squibb Co., payables turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 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 (USD $ in millions)
Cost of products sold 1,648  1,625  1,584  1,673  1,572  1,562  1,259  1,383  1,305  1,206  1,052  952  1,097  1,013  847  966  1,007  991  968  1,273  1,175  1,108  1,063 
Accounts payable 1,773  1,873  1,725  2,248  1,699  1,551  1,503  1,664  1,407  1,504  1,543  1,565  1,249  1,839  2,346  2,487  2,568  2,405  2,502  2,559  2,466  2,346  2,079 
Ratio
Payables turnover1 3.68 3.45 3.70 2.70 3.40 3.55 3.43 2.97 3.21 2.86 2.67 2.50 3.14 2.08 1.62 1.58 1.65 1.83 1.81 1.81

Based on: 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-28), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-29), 10-K (filing date: 2014-02-14), 10-Q (filing date: 2013-10-23), 10-Q (filing date: 2013-07-25), 10-Q (filing date: 2013-04-25).

Q3 2018 Calculations

1 Payables turnover = (Cost of products soldQ3 2018 + Cost of products soldQ2 2018 + Cost of products soldQ1 2018 + Cost of products soldQ4 2017) ÷ Accounts payable
= (1,648 + 1,625 + 1,584 + 1,673) ÷ 1,773 = 3.68

Ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Bristol-Myers Squibb Co.'s payables turnover declined from Q1 2018 to Q2 2018 but then increased from Q2 2018 to Q3 2018 not reaching Q1 2018 level.

Working Capital Turnover

Bristol-Myers Squibb Co., working capital turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 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 (USD $ in millions)
Current assets 14,869  13,874  14,649  14,854  15,048  14,324  13,615  13,704  13,204  12,298  11,215  10,415  12,926  13,056  14,925  14,608  14,177  14,062  14,014  18,916  10,627  10,486  10,076 
Less: Current liabilities 9,694  9,878  9,624  9,563  9,438  9,017  8,494  8,841  8,996  7,885  7,597  8,017  7,158  7,435  7,689  8,461  8,103  7,798  7,521  12,440  8,279  8,354  8,414 
Working capital 5,175  3,996  5,025  5,291  5,610  5,307  5,121  4,863  4,208  4,413  3,618  2,398  5,768  5,621  7,236  6,147  6,074  6,264  6,493  6,476  2,348  2,132  1,662 
Net product sales 5,433  5,461  4,972  5,046  4,862  4,770  4,580  4,814  4,492  4,432  3,964  3,862  3,552  3,572  3,059  3,240  2,843  2,770  2,807  3,298  3,025  3,024  2,957 
Ratio
Working capital turnover1 4.04 5.09 3.91 3.64 3.39 3.52 3.58 3.64 3.98 3.58 4.13 5.86 2.33 2.26 1.65 1.90 1.93 1.90 1.87 1.90

Based on: 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-28), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-29), 10-K (filing date: 2014-02-14), 10-Q (filing date: 2013-10-23), 10-Q (filing date: 2013-07-25), 10-Q (filing date: 2013-04-25).

Q3 2018 Calculations

1 Working capital turnover = (Net product salesQ3 2018 + Net product salesQ2 2018 + Net product salesQ1 2018 + Net product salesQ4 2017) ÷ Working capital
= (5,433 + 5,461 + 4,972 + 5,046) ÷ 5,175 = 4.04

Ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Bristol-Myers Squibb Co.'s working capital turnover improved from Q1 2018 to Q2 2018 but then slightly deteriorated from Q2 2018 to Q3 2018 not reaching Q1 2018 level.

Average Inventory Processing Period

Bristol-Myers Squibb Co., average inventory processing period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 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
Inventory turnover 5.09 5.20 5.19 5.20 4.62 4.53 3.72 3.99 3.05 3.00 3.08 3.20 3.47 2.94 2.65 2.52 2.71 2.65 2.73 3.08
Ratio (no. of days)
Average inventory processing period1 72 70 70 70 79 81 98 92 120 122 119 114 105 124 138 145 135 138 134 118

Based on: 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-28), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-29), 10-K (filing date: 2014-02-14), 10-Q (filing date: 2013-10-23), 10-Q (filing date: 2013-07-25), 10-Q (filing date: 2013-04-25).

Q3 2018 Calculations

1 Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.09 = 72

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.

Average Payables Payment Period

Bristol-Myers Squibb Co., average payables payment period calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 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
Payables turnover 3.68 3.45 3.70 2.70 3.40 3.55 3.43 2.97 3.21 2.86 2.67 2.50 3.14 2.08 1.62 1.58 1.65 1.83 1.81 1.81
Ratio (no. of days)
Average payables payment period1 99 106 99 135 107 103 106 123 114 127 137 146 116 175 225 231 221 199 202 202

Based on: 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-27), 10-Q (filing date: 2015-07-23), 10-Q (filing date: 2015-04-28), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-29), 10-K (filing date: 2014-02-14), 10-Q (filing date: 2013-10-23), 10-Q (filing date: 2013-07-25), 10-Q (filing date: 2013-04-25).

Q3 2018 Calculations

1 Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.68 = 99

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.