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)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Long-term activity ratio | Description | The company |
---|---|---|
Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Caterpillar Inc. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
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). | Caterpillar Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Caterpillar Inc. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Caterpillar Inc. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Net Fixed Asset Turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Sales of Machinery, Energy & Transportation | 63,869) | 56,574) | 48,188) | 39,022) | 50,755) | |
Property, plant and equipment, net | 12,680) | 12,028) | 12,090) | 12,401) | 12,904) | |
Long-term Activity Ratio | ||||||
Net fixed asset turnover1 | 5.04 | 4.70 | 3.99 | 3.15 | 3.93 | |
Benchmarks | ||||||
Net Fixed Asset Turnover, Competitors2 | ||||||
Boeing Co. | 7.30 | 6.31 | 5.70 | 4.92 | 6.12 | |
Cummins Inc. | 5.45 | 5.08 | 5.43 | 4.66 | 5.55 | |
General Electric Co. | 6.06 | 5.96 | 5.47 | 1.75 | 2.02 | |
Honeywell International Inc. | 6.48 | 6.48 | 6.18 | 5.86 | 6.89 | |
Lockheed Martin Corp. | 8.07 | 8.27 | 8.83 | 9.07 | 9.07 | |
RTX Corp. | 4.38 | 4.42 | 4.30 | 3.78 | 6.04 | |
Net Fixed Asset Turnover, Sector | ||||||
Capital Goods | 5.90 | 5.70 | 5.42 | 3.52 | 4.22 | |
Net Fixed Asset Turnover, Industry | ||||||
Industrials | 3.17 | 3.22 | 3.04 | 2.41 | 2.76 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Net fixed asset turnover = Sales of Machinery, Energy & Transportation ÷ Property, plant and equipment, net
= 63,869 ÷ 12,680 = 5.04
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. | Caterpillar Inc. net fixed asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Caterpillar Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Sales of Machinery, Energy & Transportation | 63,869) | 56,574) | 48,188) | 39,022) | 50,755) | |
Property, plant and equipment, net | 12,680) | 12,028) | 12,090) | 12,401) | 12,904) | |
Operating lease right-of-use assets (recognized in Other assets) | 556) | 564) | 625) | 603) | 624) | |
Property, plant and equipment, net (including operating lease, right-of-use asset) | 13,236) | 12,592) | 12,715) | 13,004) | 13,528) | |
Long-term Activity Ratio | ||||||
Net fixed asset turnover (including operating lease, right-of-use asset)1 | 4.83 | 4.49 | 3.79 | 3.00 | 3.75 | |
Benchmarks | ||||||
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
Boeing Co. | 6.30 | 5.55 | 5.04 | 4.45 | 5.59 | |
Cummins Inc. | 5.05 | 4.67 | 4.94 | 4.22 | 4.97 | |
General Electric Co. | 5.17 | 5.08 | 4.55 | 1.63 | 1.89 | |
Honeywell International Inc. | 5.50 | 5.58 | 5.28 | 5.15 | 6.12 | |
Lockheed Martin Corp. | 7.14 | 7.27 | 7.54 | 7.96 | 7.88 | |
RTX Corp. | 3.96 | 3.95 | 3.80 | 3.36 | 5.02 | |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
Capital Goods | 5.28 | 5.08 | 4.77 | 3.23 | 3.85 | |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
Industrials | 2.73 | 2.78 | 2.62 | 2.13 | 2.57 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Sales of Machinery, Energy & Transportation ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 63,869 ÷ 13,236 = 4.83
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). | Caterpillar Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Sales of Machinery, Energy & Transportation | 63,869) | 56,574) | 48,188) | 39,022) | 50,755) | |
Total assets | 87,476) | 81,943) | 82,793) | 78,324) | 78,453) | |
Long-term Activity Ratio | ||||||
Total asset turnover1 | 0.73 | 0.69 | 0.58 | 0.50 | 0.65 | |
Benchmarks | ||||||
Total Asset Turnover, Competitors2 | ||||||
Boeing Co. | 0.57 | 0.49 | 0.45 | 0.38 | 0.57 | |
Cummins Inc. | 1.06 | 0.93 | 1.01 | 0.88 | 1.19 | |
General Electric Co. | 0.40 | 0.39 | 0.36 | 0.29 | 0.33 | |
Honeywell International Inc. | 0.60 | 0.57 | 0.53 | 0.51 | 0.63 | |
Lockheed Martin Corp. | 1.29 | 1.25 | 1.32 | 1.29 | 1.26 | |
RTX Corp. | 0.43 | 0.42 | 0.40 | 0.35 | 0.55 | |
Total Asset Turnover, Sector | ||||||
Capital Goods | 0.59 | 0.55 | 0.52 | 0.44 | 0.55 | |
Total Asset Turnover, Industry | ||||||
Industrials | 0.68 | 0.67 | 0.61 | 0.52 | 0.62 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Total asset turnover = Sales of Machinery, Energy & Transportation ÷ Total assets
= 63,869 ÷ 87,476 = 0.73
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. | Caterpillar Inc. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Equity Turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Sales of Machinery, Energy & Transportation | 63,869) | 56,574) | 48,188) | 39,022) | 50,755) | |
Equity attributable to common shareholders | 19,494) | 15,869) | 16,484) | 15,331) | 14,588) | |
Long-term Activity Ratio | ||||||
Equity turnover1 | 3.28 | 3.57 | 2.92 | 2.55 | 3.48 | |
Benchmarks | ||||||
Equity Turnover, Competitors2 | ||||||
Boeing Co. | — | — | — | — | — | |
Cummins Inc. | 3.85 | 3.13 | 2.83 | 2.46 | 3.14 | |
General Electric Co. | 2.36 | 2.02 | 1.76 | 2.05 | 3.09 | |
Honeywell International Inc. | 2.31 | 2.12 | 1.85 | 1.86 | 1.98 | |
Lockheed Martin Corp. | 9.89 | 7.12 | 6.12 | 10.87 | 19.13 | |
RTX Corp. | 1.15 | 0.92 | 0.88 | 0.78 | 1.84 | |
Equity Turnover, Sector | ||||||
Capital Goods | 3.42 | 2.73 | 2.43 | 2.53 | 3.92 | |
Equity Turnover, Industry | ||||||
Industrials | 3.44 | 3.09 | 2.69 | 2.87 | 3.73 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Equity turnover = Sales of Machinery, Energy & Transportation ÷ Equity attributable to common shareholders
= 63,869 ÷ 19,494 = 3.28
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. | Caterpillar Inc. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |