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)
Net Fixed Asset Turnover
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Total Asset Turnover
Equity Turnover

Estée Lauder Cos. Inc., long-term (investment) activity ratios

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Net fixed asset turnover	5.00	6.69	7.11	6.96	7.19	7.51
Net fixed asset turnover (including operating lease, right-of-use asset)	3.20	3.86	3.63	3.30	7.19	7.51
Total asset turnover	0.68	0.85	0.74	0.80	1.13	1.09
Equity turnover	2.85	3.17	2.68	3.63	3.39	2.92

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

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Long-term activity ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Estée Lauder Cos. Inc. net fixed asset turnover ratio deteriorated 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).	Estée Lauder Cos. Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Estée Lauder Cos. Inc. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Estée Lauder Cos. Inc. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Estée Lauder Cos. Inc., net fixed asset turnover calculation, comparison to benchmarks

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Selected Financial Data (US$ in millions)
Net sales	15,910)	17,737)	16,215)	14,294)	14,863)	13,683)
Property, plant and equipment, net	3,179)	2,650)	2,280)	2,055)	2,068)	1,823)
Long-term Activity Ratio
Net fixed asset turnover¹	5.00	6.69	7.11	6.96	7.19	7.51
Benchmarks
Net Fixed Asset Turnover, Competitors²
Procter & Gamble Co.	3.74	3.78	3.51	3.43	3.18	3.24
Net Fixed Asset Turnover, Industry
Consumer Staples	5.24	5.30	5.14	4.44	4.34	—

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

¹ 2023 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 15,910 ÷ 3,179 = 5.00

² Click competitor name to see calculations.

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Long-term activity ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Estée Lauder Cos. Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Estée Lauder Cos. Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Selected Financial Data (US$ in millions)
Net sales	15,910)	17,737)	16,215)	14,294)	14,863)	13,683)

Property, plant and equipment, net	3,179)	2,650)	2,280)	2,055)	2,068)	1,823)
Operating lease right-of-use assets	1,797)	1,949)	2,190)	2,282)	—)	—)
Property, plant and equipment, net (including operating lease, right-of-use asset)	4,976)	4,599)	4,470)	4,337)	2,068)	1,823)
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)¹	3.20	3.86	3.63	3.30	7.19	7.51
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors²
Procter & Gamble Co.	3.61	3.65	3.38	3.29	3.18	3.24
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Staples	4.75	4.77	4.62	3.96	4.24	—

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

¹ 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 15,910 ÷ 4,976 = 3.20

² Click competitor name to see calculations.

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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).	Estée Lauder Cos. Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Estée Lauder Cos. Inc., total asset turnover calculation, comparison to benchmarks

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Selected Financial Data (US$ in millions)
Net sales	15,910)	17,737)	16,215)	14,294)	14,863)	13,683)
Total assets	23,415)	20,910)	21,971)	17,781)	13,156)	12,567)
Long-term Activity Ratio
Total asset turnover¹	0.68	0.85	0.74	0.80	1.13	1.09
Benchmarks
Total Asset Turnover, Competitors²
Procter & Gamble Co.	0.68	0.68	0.64	0.59	0.59	0.56
Total Asset Turnover, Industry
Consumer Staples	1.55	1.50	1.40	1.31	1.37	—

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

¹ 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= 15,910 ÷ 23,415 = 0.68

² Click competitor name to see calculations.

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Long-term activity ratio	Description	The company
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Estée Lauder Cos. Inc. total asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Estée Lauder Cos. Inc., equity turnover calculation, comparison to benchmarks

	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018
Selected Financial Data (US$ in millions)
Net sales	15,910)	17,737)	16,215)	14,294)	14,863)	13,683)
Stockholders’ equity, The Estée Lauder Companies Inc.	5,585)	5,590)	6,057)	3,935)	4,386)	4,688)
Long-term Activity Ratio
Equity turnover¹	2.85	3.17	2.68	3.63	3.39	2.92
Benchmarks
Equity Turnover, Competitors²
Procter & Gamble Co.	1.75	1.72	1.64	1.53	1.43	1.28
Equity Turnover, Industry
Consumer Staples	5.38	5.11	4.84	4.60	4.48	—

Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).

¹ 2023 Calculation
Equity turnover = Net sales ÷ Stockholders’ equity, The Estée Lauder Companies Inc.
= 15,910 ÷ 5,585 = 2.85

² Click competitor name to see calculations.

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Long-term activity ratio	Description	The company
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Estée Lauder Cos. Inc. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Estée Lauder Cos. Inc. (NYSE:EL)

Analysis of Long-term (Investment) Activity Ratios

Long-term Activity Ratios (Summary)

Net Fixed Asset Turnover

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Total Asset Turnover

Equity Turnover