Bristol-Myers Squibb Co. (BMY)


Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Beginner level


Short-term Activity Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 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
Turnover Ratios
Inventory turnover 6.15 5.48 5.31 5.48 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
Payables turnover 3.89 3.58 3.44 3.46 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
Working capital turnover 0.78 0.82 2.71 3.32 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
Average No. Days
Average inventory processing period 59 67 69 67 72 70 70 70 79 81 98 92 120 122 119 114 105 124 138 145
Less: Average payables payment period 94 102 106 105 99 106 99 135 107 103 106 123 114 127 137 146 116 175 225 231

Based on: 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-25), 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).

Short-term activity 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 ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Bristol-Myers Squibb Co.’s payables turnover ratio increased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Bristol-Myers Squibb Co.’s working capital turnover ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Short-term activity 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. Bristol-Myers Squibb Co.’s number of days of inventory outstanding improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
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. Bristol-Myers Squibb Co.’s number of days of payables outstanding decreased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Inventory Turnover

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

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 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
Selected Financial Data (US$ in millions)
Cost of products sold 1,810  1,992  1,844  1,690  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 
Inventories 1,192  1,308  1,283  1,195  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 
Short-term Activity Ratio
Inventory turnover1 6.15 5.48 5.31 5.48 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
Benchmarks
Inventory Turnover, Competitors2
Abbott Laboratories 2.96 2.94 3.13 3.35 3.38 3.36 3.23 3.43 3.27 3.00 2.49 3.71 3.41 3.15 3.16 3.37 3.37 3.27 3.44 3.49
AbbVie Inc. 3.86 3.89 4.40 4.81 4.47 4.91 4.23 4.39 3.54 3.92 4.26 4.04 3.53 3.08 2.75 2.62 2.25 2.51 4.18 3.94
Allergan PLC 2.20 2.33 2.30 2.59 2.44 2.35 2.36 2.40 2.30 2.08 2.03 2.59 2.55 3.55 4.18 4.76 4.84 2.46 1.93 3.04
Amgen Inc. 1.29 1.32 1.40 1.39 1.35 1.31 1.36 1.44 1.39 1.39 1.44 1.52 1.55 1.56 1.64 1.74 1.71 1.70 1.63 1.67
Biogen Inc. 2.66 2.61 2.56 1.95 2.00 1.87 1.90 1.81 1.49 1.65 1.68 1.48 1.42 1.33 1.29 1.39 1.31 1.38 1.46 1.46
Eli Lilly & Co. 1.62 1.70 1.96 1.56 1.57 1.56 1.36 1.36 1.34 1.32 1.40 1.59 1.44 1.44 1.38 1.46 1.43 1.50 1.65 1.80
Gilead Sciences Inc. 5.17 5.22 5.36 5.96 5.56 5.22 4.99 5.46 3.66 3.04 2.73 2.68 2.24 2.25 2.30 2.05 2.02 1.93 2.02 2.73
Johnson & Johnson 2.99 2.93 2.98 3.15 3.15 3.14 2.95 2.89 2.48 2.29 2.45 2.66 2.57 2.53 2.64 2.67 2.65 2.64 2.79 2.78
Merck & Co. Inc. 2.35 2.29 2.34 2.48 2.52 2.56 2.41 2.51 2.41 2.37 2.59 2.85 2.75 2.81 2.93 3.18 2.90 2.88 2.97 3.01
Pfizer Inc. 1.30 1.31 1.38 1.50 1.40 1.43 1.39 1.48 1.41 1.51 1.61 1.82 1.67 1.53 1.41 1.28 1.16 1.57 1.62 1.69
Regeneron Pharmaceuticals Inc. 0.22 0.16 0.15 0.16 0.18 0.22 0.26 0.28 0.30 0.32 0.38 0.49 0.64 0.82 0.92 1.01 1.09 1.02 1.08 1.00

Based on: 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-25), 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).

1 Q3 2019 Calculation
Inventory turnover = (Cost of products soldQ3 2019 + Cost of products soldQ2 2019 + Cost of products soldQ1 2019 + Cost of products soldQ4 2018) ÷ Inventories
= (1,810 + 1,992 + 1,844 + 1,690) ÷ 1,192 = 6.15

2 Click competitor name to see calculations.

Short-term activity 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 ratio improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Payables Turnover

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

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 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
Selected Financial Data (US$ in millions)
Cost of products sold 1,810  1,992  1,844  1,690  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 
Accounts payable 1,888  2,005  1,976  1,892  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 
Short-term Activity Ratio
Payables turnover1 3.89 3.58 3.44 3.46 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
Benchmarks
Payables Turnover, Competitors2
Abbott Laboratories 4.29 3.97 4.20 4.27 4.68 4.98 4.99 5.14 6.13 6.49 6.70 7.66 8.49 7.70 8.36 8.09 8.82 8.96 8.92 8.66
Amgen Inc. 4.18 4.20 3.86 3.40 3.90 3.92 3.69 3.01 4.64 4.66 4.59 4.54 5.05 4.80 5.15 4.38 4.07 4.68 4.92 3.65
Biogen Inc. 5.22 5.38 5.22 4.90 5.37 5.91 4.89 4.12 5.02 4.68 4.90 5.28 5.23 5.87 4.57 4.64 4.80 4.24 5.10 5.11
Eli Lilly & Co. 4.51 4.52 5.13 4.55 5.04 4.91 4.98 4.30 4.93 4.57 4.64 4.19 4.80 4.48 4.49 3.76 4.16 4.28 4.16 4.37
Gilead Sciences Inc. 7.22 7.48 8.33 6.14 7.83 7.20 6.21 5.37 6.02 5.23 4.26 3.53 4.04 3.73 4.57 3.40 3.23 2.50 3.81 3.97
Johnson & Johnson 3.66 3.92 3.91 3.59 3.91 4.25 4.13 3.47 3.70 3.62 3.57 3.13 3.65 3.56 3.62 3.23 3.66 3.57 3.36 2.98
Merck & Co. Inc. 4.29 4.25 4.43 4.07 4.41 4.39 4.09 4.12 4.85 4.37 5.37 4.95 5.81 5.87 6.67 5.90 7.33 6.55 7.86 6.39
Pfizer Inc. 2.71 2.69 2.68 2.41 2.66 2.76 2.92 2.41 3.22 3.33 3.52 2.72 3.60 3.57 3.41 2.67 2.71 3.10 3.44 2.98
Regeneron Pharmaceuticals Inc. 0.89 0.87 0.76 0.82 1.10 1.19 1.01 1.14

Based on: 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-25), 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).

1 Q3 2019 Calculation
Payables turnover = (Cost of products soldQ3 2019 + Cost of products soldQ2 2019 + Cost of products soldQ1 2019 + Cost of products soldQ4 2018) ÷ Accounts payable
= (1,810 + 1,992 + 1,844 + 1,690) ÷ 1,888 = 3.89

2 Click competitor name to see calculations.

Short-term activity 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 ratio increased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Working Capital Turnover

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

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 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
Selected Financial Data (US$ in millions)
Current assets 40,191  37,716  17,093  17,160  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 
Less: Current liabilities 10,489  9,711  8,841  10,654  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 
Working capital 29,702  28,005  8,252  6,506  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 
 
Net product sales 5,768  6,031  5,713  5,715  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 
Short-term Activity Ratio
Working capital turnover1 0.78 0.82 2.71 3.32 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
Benchmarks
Working Capital Turnover, Competitors2
Abbott Laboratories 5.57 5.04 5.80 5.44 5.61 5.72 4.78 2.44 1.87 1.79 1.76 1.04 4.45 4.76 5.08 4.11 2.88 1.72 1.89 4.28
AbbVie Inc. 12.30 64.14 10.46 8.75 6.16 4.62 5.68 3.91 4.00 3.51 3.29 3.99 4.22 2.41 3.73 4.69 4.26
Allergan PLC 58.26 21.12 27.78 10.43 9.97 8.39 4.46 1.46 0.56 52.49 1.93 5.66 3.86 7.01
Amgen Inc. 1.10 1.11 1.00 0.93 0.85 0.82 0.73 0.54 0.53 0.54 0.61 0.63 0.61 0.67 0.63 0.70 0.66 0.65 0.69 0.70
Biogen Inc. 2.81 2.38 1.91 2.51 1.94 2.48 1.49 2.30 2.46 2.70 2.56 1.85 1.74 1.95 2.11 2.23 1.36 2.86 2.61 3.34
Eli Lilly & Co. 12.35 14.53 17.59 2.84 2.46 4.52 4.95 4.90 4.72 4.94 8.54 5.16 4.08 4.50 4.61 4.59 4.62 4.77 5.76 20.17
Gilead Sciences Inc. 1.17 0.89 0.89 0.86 0.88 1.04 1.24 1.27 1.05 1.40 2.18 2.67 3.01 4.04 3.88 2.16 1.87 3.13 2.14 2.05
Johnson & Johnson 8.91 7.79 6.34 5.51 4.12 4.49 5.02 6.09 7.42 7.31 1.89 1.86 1.79 1.58 1.73 2.16 1.84 1.97 2.14 2.17
Merck & Co. Inc. 8.42 10.53 6.33 11.53 5.06 6.95 5.72 6.52 4.71 4.25 3.41 2.97 2.87 3.03 3.52 3.74 3.62 3.72 3.32 2.93
Pfizer Inc. 3.57 3.39 2.97 4.25 10.34 7.05 4.90 4.35 5.69 4.78 6.74 14.23 4.45 4.06 3.39 2.79 1.75 1.68 1.38
Regeneron Pharmaceuticals Inc. 0.87 0.90 0.78 0.82 0.93 1.13 1.17 1.16 1.20 1.24 1.45 1.72 1.27 1.38 1.32 1.28 1.27 1.29 1.09 1.16

Based on: 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-25), 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).

1 Q3 2019 Calculation
Working capital turnover = (Net product salesQ3 2019 + Net product salesQ2 2019 + Net product salesQ1 2019 + Net product salesQ4 2018) ÷ Working capital
= (5,768 + 6,031 + 5,713 + 5,715) ÷ 29,702 = 0.78

2 Click competitor name to see calculations.

Short-term activity 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 ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Average Inventory Processing Period

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

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 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
Selected Financial Data
Inventory turnover 6.15 5.48 5.31 5.48 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
Short-term Activity Ratio (no. days)
Average inventory processing period1 59 67 69 67 72 70 70 70 79 81 98 92 120 122 119 114 105 124 138 145
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Abbott Laboratories 123 124 116 109 108 109 113 107 112 122 147 98 107 116 115 108 108 111 106 105
AbbVie Inc. 94 94 83 76 82 74 86 83 103 93 86 90 103 118 133 139 162 146 87 93
Allergan PLC 166 157 159 141 150 155 155 152 159 176 180 141 143 103 87 77 75 148 189 120
Amgen Inc. 282 276 261 262 271 278 268 254 262 263 253 241 235 234 223 210 213 214 225 218
Biogen Inc. 137 140 143 187 182 195 192 202 245 221 217 247 257 274 284 263 278 264 250 251
Eli Lilly & Co. 225 214 186 233 233 235 268 268 272 276 260 230 254 253 264 250 255 243 222 203
Gilead Sciences Inc. 71 70 68 61 66 70 73 67 100 120 134 136 163 162 159 178 181 189 181 134
Johnson & Johnson 122 125 122 116 116 116 124 126 147 159 149 137 142 144 138 136 138 138 131 131
Merck & Co. Inc. 156 160 156 147 145 142 152 146 151 154 141 128 133 130 125 115 126 127 123 121
Pfizer Inc. 281 279 264 244 261 254 262 246 258 242 227 201 219 238 259 284 314 233 225 216
Regeneron Pharmaceuticals Inc. 1,648 2,260 2,429 2,334 2,011 1,659 1,423 1,309 1,205 1,138 963 749 570 446 398 360 334 357 339 365

Based on: 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-25), 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).

1 Q3 2019 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 6.15 = 59

2 Click competitor name to see calculations.

Short-term activity 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. Bristol-Myers Squibb Co.’s number of days of inventory outstanding improved from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Average Payables Payment Period

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

Microsoft Excel LibreOffice Calc
Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 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
Selected Financial Data
Payables turnover 3.89 3.58 3.44 3.46 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
Short-term Activity Ratio (no. days)
Average payables payment period1 94 102 106 105 99 106 99 135 107 103 106 123 114 127 137 146 116 175 225 231
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Abbott Laboratories 85 92 87 85 78 73 73 71 60 56 54 48 43 47 44 45 41 41 41 42
Amgen Inc. 87 87 95 107 94 93 99 121 79 78 80 80 72 76 71 83 90 78 74 100
Biogen Inc. 70 68 70 74 68 62 75 89 73 78 74 69 70 62 80 79 76 86 72 71
Eli Lilly & Co. 81 81 71 80 72 74 73 85 74 80 79 87 76 81 81 97 88 85 88 83
Gilead Sciences Inc. 51 49 44 59 47 51 59 68 61 70 86 103 90 98 80 107 113 146 96 92
Johnson & Johnson 100 93 93 102 93 86 88 105 99 101 102 116 100 103 101 113 100 102 109 122
Merck & Co. Inc. 85 86 82 90 83 83 89 89 75 83 68 74 63 62 55 62 50 56 46 57
Pfizer Inc. 135 136 136 152 137 132 125 151 113 110 104 134 101 102 107 137 135 118 106 122
Regeneron Pharmaceuticals Inc. 411 419 481 442 333 307 360 321

Based on: 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-25), 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).

1 Q3 2019 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.89 = 94

2 Click competitor name to see calculations.

Short-term activity 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. Bristol-Myers Squibb Co.’s number of days of payables outstanding decreased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.