Analysis of Long-term (Investment) Activity Ratios
Quarterly Data
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)
Illinois Tool Works Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Illinois Tool Works Inc. net fixed asset turnover ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Illinois Tool Works Inc. total asset turnover ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Illinois Tool Works Inc. equity turnover ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level. |
Net Fixed Asset Turnover
Illinois Tool Works Inc., net fixed asset turnover calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenue | 3,679) | 3,556) | 3,676) | 3,544) | 3,475) | 3,307) | 2,564) | 3,228) | 3,469) | 3,479) | 3,609) | 3,552) | 3,580) | 3,613) | 3,831) | 3,744) | 3,629) | 3,615) | 3,599) | 3,471) | ||||||
| Net plant and equipment | 1,809) | 1,744) | 1,767) | 1,746) | 1,777) | 1,736) | 1,711) | 1,704) | 1,729) | 1,693) | 1,717) | 1,765) | 1,791) | 1,799) | 1,783) | 1,829) | 1,778) | 1,759) | 1,726) | 1,674) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Net fixed asset turnover1 | 7.99 | 8.17 | 7.92 | 7.38 | 7.08 | 7.24 | 7.45 | 8.09 | 8.16 | 8.40 | 8.36 | 8.26 | 8.25 | 8.24 | 8.31 | 7.98 | 8.05 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | 5.70 | 5.65 | 5.44 | 4.85 | 4.92 | 5.08 | 5.47 | 5.69 | 6.12 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Caterpillar Inc. | 3.99 | 3.84 | 3.59 | 3.32 | 3.15 | 3.34 | 3.53 | 3.84 | 3.93 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cummins Inc. | 5.43 | 5.74 | 5.55 | 4.98 | 4.66 | 4.79 | 4.97 | 5.47 | 5.55 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Eaton Corp. plc | 6.41 | 6.45 | 6.25 | 6.08 | 6.02 | 6.31 | 6.61 | 7.10 | 6.12 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| General Electric Co. | 4.55 | 4.53 | 4.45 | 4.33 | 1.63 | 1.72 | 1.77 | 1.87 | 1.89 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Honeywell International Inc. | 6.18 | 6.28 | 6.15 | 5.88 | 5.86 | 6.13 | 6.48 | 6.96 | 6.89 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lockheed Martin Corp. | 8.83 | 9.05 | 9.17 | 9.15 | 9.07 | 9.44 | 9.44 | 9.25 | 9.07 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 4.30 | 4.39 | 4.25 | 4.10 | 3.78 | 4.05 | 4.35 | 5.61 | 6.04 | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Net fixed asset turnover
= (Operating revenueQ4 2021
+ Operating revenueQ3 2021
+ Operating revenueQ2 2021
+ Operating revenueQ1 2021)
÷ Net plant and equipment
= (3,679 + 3,556 + 3,676 + 3,544)
÷ 1,809 = 7.99
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. | Illinois Tool Works Inc. net fixed asset turnover ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level. |
Total Asset Turnover
Illinois Tool Works Inc., total asset turnover calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenue | 3,679) | 3,556) | 3,676) | 3,544) | 3,475) | 3,307) | 2,564) | 3,228) | 3,469) | 3,479) | 3,609) | 3,552) | 3,580) | 3,613) | 3,831) | 3,744) | 3,629) | 3,615) | 3,599) | 3,471) | ||||||
| Total assets | 16,077) | 15,517) | 15,580) | 15,663) | 15,612) | 14,940) | 14,263) | 14,149) | 15,068) | 14,960) | 15,187) | 15,326) | 14,870) | 15,319) | 15,523) | 16,163) | 16,780) | 16,314) | 15,922) | 15,529) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Total asset turnover1 | 0.90 | 0.92 | 0.90 | 0.82 | 0.81 | 0.84 | 0.89 | 0.97 | 0.94 | 0.95 | 0.95 | 0.95 | 0.99 | 0.97 | 0.95 | 0.90 | 0.85 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | 0.45 | 0.43 | 0.41 | 0.38 | 0.38 | 0.38 | 0.41 | 0.49 | 0.57 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Caterpillar Inc. | 0.58 | 0.57 | 0.53 | 0.50 | 0.50 | 0.53 | 0.57 | 0.63 | 0.65 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cummins Inc. | 1.01 | 1.04 | 1.02 | 0.91 | 0.88 | 0.91 | 0.99 | 1.12 | 1.19 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Eaton Corp. plc | 0.58 | 0.57 | 0.52 | 0.52 | 0.56 | 0.59 | 0.63 | 0.68 | 0.65 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| General Electric Co. | 0.36 | 0.30 | 0.30 | 0.29 | 0.29 | 0.30 | 0.31 | 0.33 | 0.33 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Honeywell International Inc. | 0.53 | 0.54 | 0.53 | 0.51 | 0.51 | 0.52 | 0.54 | 0.63 | 0.63 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lockheed Martin Corp. | 1.32 | 1.28 | 1.28 | 1.28 | 1.29 | 1.27 | 1.27 | 1.24 | 1.26 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 0.40 | 0.40 | 0.39 | 0.38 | 0.35 | 0.37 | 0.40 | 0.50 | 0.55 | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Total asset turnover
= (Operating revenueQ4 2021
+ Operating revenueQ3 2021
+ Operating revenueQ2 2021
+ Operating revenueQ1 2021)
÷ Total assets
= (3,679 + 3,556 + 3,676 + 3,544)
÷ 16,077 = 0.90
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. | Illinois Tool Works Inc. total asset turnover ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level. |
Equity Turnover
Illinois Tool Works Inc., equity turnover calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenue | 3,679) | 3,556) | 3,676) | 3,544) | 3,475) | 3,307) | 2,564) | 3,228) | 3,469) | 3,479) | 3,609) | 3,552) | 3,580) | 3,613) | 3,831) | 3,744) | 3,629) | 3,615) | 3,599) | 3,471) | ||||||
| Stockholders’ equity attributable to ITW | 3,625) | 3,492) | 3,520) | 3,274) | 3,181) | 2,696) | 2,357) | 2,283) | 3,026) | 2,966) | 3,091) | 3,196) | 3,254) | 3,542) | 3,785) | 4,159) | 4,585) | 5,023) | 4,771) | 4,493) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Equity turnover1 | 3.99 | 4.08 | 3.98 | 3.94 | 3.95 | 4.66 | 5.41 | 6.04 | 4.66 | 4.79 | 4.64 | 4.56 | 4.54 | 4.18 | 3.92 | 3.51 | 3.12 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Caterpillar Inc. | 2.92 | 2.74 | 2.57 | 2.43 | 2.55 | 2.73 | 3.17 | 3.38 | 3.48 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cummins Inc. | 2.83 | 2.97 | 2.94 | 2.58 | 2.46 | 2.54 | 2.81 | 3.19 | 3.14 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Eaton Corp. plc | 1.20 | 1.22 | 1.24 | 1.18 | 1.20 | 1.27 | 1.35 | 1.47 | 1.33 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| General Electric Co. | 1.76 | 1.92 | 2.15 | 2.10 | 2.05 | 2.32 | 2.40 | 2.44 | 3.09 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Honeywell International Inc. | 1.85 | 1.94 | 1.89 | 1.81 | 1.86 | 1.84 | 1.90 | 2.06 | 1.98 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Lockheed Martin Corp. | 6.12 | 6.89 | 10.24 | 10.46 | 10.87 | 12.97 | 16.77 | 17.74 | 19.13 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| RTX Corp. | 0.88 | 0.89 | 0.88 | 0.84 | 0.78 | 0.87 | 0.96 | 1.78 | 1.84 | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Equity turnover
= (Operating revenueQ4 2021
+ Operating revenueQ3 2021
+ Operating revenueQ2 2021
+ Operating revenueQ1 2021)
÷ Stockholders’ equity attributable to ITW
= (3,679 + 3,556 + 3,676 + 3,544)
÷ 3,625 = 3.99
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. | Illinois Tool Works Inc. equity turnover ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level. |