Analysis of Short-term (Operating) 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.
Short-term Activity Ratios (Summary)
Johnson & Johnson, short-term (operating) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Johnson & Johnson inventory turnover ratio deteriorated from Q4 2022 to Q1 2023 but then improved from Q1 2023 to Q2 2023 exceeding Q4 2022 level. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Johnson & Johnson receivables turnover ratio improved from Q4 2022 to Q1 2023 but then deteriorated significantly from Q1 2023 to Q2 2023. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Johnson & Johnson payables turnover ratio increased from Q4 2022 to Q1 2023 but then slightly decreased from Q1 2023 to Q2 2023. |
| 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. | |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | |
| Operating cycle | Equal to average inventory processing period plus average receivables collection 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. | Johnson & Johnson number of days of payables outstanding decreased from Q4 2022 to Q1 2023 but then slightly increased from Q1 2023 to Q2 2023. |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Johnson & Johnson cash conversion cycle deteriorated from Q4 2022 to Q1 2023 but then slightly improved from Q1 2023 to Q2 2023. |
Inventory Turnover
Johnson & Johnson, inventory turnover calculation (quarterly data)
| Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Cost of products sold | 8,212) | 8,395) | 7,765) | 7,807) | 7,919) | 7,598) | 7,955) | 7,250) | 7,587) | 7,063) | 7,814) | 6,972) | 6,579) | 7,062) | 7,134) | 6,867) | 6,940) | 6,615) | 6,961) | 6,589) | 6,927) | 6,614) | |||||||
| Inventories | 12,888) | 12,809) | 12,483) | 11,675) | 11,437) | 10,990) | 10,387) | 10,387) | 10,100) | 9,952) | 9,344) | 9,599) | 9,424) | 8,868) | 9,020) | 9,173) | 9,263) | 9,086) | 8,599) | 8,678) | 8,810) | 9,014) | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||
| Inventory turnover1 | 2.50 | 2.49 | 2.49 | 2.68 | 2.69 | 2.77 | 2.87 | 2.86 | 2.91 | 2.86 | 3.04 | 2.89 | 2.93 | 3.16 | 3.05 | 2.99 | 2.93 | 2.98 | 3.15 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | |||||||||||||||||||||||||||||
| AbbVie Inc. | 4.30 | 4.53 | 4.87 | 5.54 | 4.99 | 4.96 | 5.58 | 5.76 | 5.45 | 5.40 | 4.65 | 3.66 | 2.36 | 4.17 | 4.10 | 3.86 | 3.89 | 4.40 | 4.81 | — | — | — | |||||||
| Amgen Inc. | 1.38 | 1.31 | 1.30 | 1.34 | 1.40 | 1.48 | 1.58 | 1.53 | 1.53 | 1.53 | 1.58 | 1.48 | 1.38 | 1.31 | 1.22 | 1.29 | 1.32 | 1.40 | 1.39 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 4.39 | 3.93 | 4.33 | 4.77 | 4.59 | 4.55 | 4.74 | 4.85 | 5.01 | 5.61 | 5.68 | 5.83 | 4.46 | 3.50 | 1.88 | 6.10 | 5.45 | 5.29 | 5.48 | — | — | — | |||||||
| Eli Lilly & Co. | 1.37 | 1.36 | 1.54 | 1.86 | 1.79 | 1.93 | 1.88 | 1.79 | 1.80 | 1.68 | 1.38 | 1.42 | 1.48 | 1.55 | 1.48 | 1.62 | 1.70 | 1.96 | 1.56 | — | — | — | |||||||
| Gilead Sciences Inc. | 3.45 | 3.57 | 3.75 | 4.71 | 4.50 | 4.50 | 4.08 | 3.21 | 2.99 | 2.79 | 2.72 | 4.82 | 4.52 | 4.75 | 5.07 | 5.17 | 5.22 | 5.36 | 5.96 | — | — | — | |||||||
| Merck & Co. Inc. | 2.66 | 2.72 | 2.95 | 3.10 | 3.06 | 2.74 | 2.29 | 2.73 | 2.79 | 2.40 | 2.45 | 2.22 | 2.33 | 2.46 | 2.36 | 2.35 | 2.29 | 2.34 | 2.48 | — | — | — | |||||||
| Pfizer Inc. | 2.31 | 3.07 | 3.82 | 3.62 | 3.66 | 3.67 | 3.40 | 2.78 | 1.80 | 1.28 | 1.08 | 0.90 | 1.05 | 1.15 | 1.23 | 1.30 | 1.31 | 1.38 | 1.50 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 0.69 | 0.67 | 0.65 | 0.83 | 0.96 | 1.27 | 1.25 | 0.88 | 0.82 | 0.56 | 0.58 | 0.55 | 0.57 | 0.55 | 0.55 | 0.50 | 0.42 | 0.41 | 0.38 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 4.64 | 4.62 | 4.60 | 4.29 | 4.03 | 3.87 | 3.88 | 3.90 | 4.03 | 4.01 | 4.02 | 3.92 | 3.93 | 4.14 | 4.22 | 4.23 | 4.30 | 4.37 | 4.49 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
1 Q2 2023 Calculation
Inventory turnover
= (Cost of products soldQ2 2023
+ Cost of products soldQ1 2023
+ Cost of products soldQ4 2022
+ Cost of products soldQ3 2022)
÷ Inventories
= (8,212 + 8,395 + 7,765 + 7,807)
÷ 12,888 = 2.50
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. | Johnson & Johnson inventory turnover ratio deteriorated from Q4 2022 to Q1 2023 but then improved from Q1 2023 to Q2 2023 exceeding Q4 2022 level. |
Receivables Turnover
Johnson & Johnson, receivables turnover calculation (quarterly data)
| Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Sales to customers | 25,530) | 24,746) | 23,706) | 23,791) | 24,020) | 23,426) | 24,804) | 23,338) | 23,312) | 22,321) | 22,475) | 21,082) | 18,336) | 20,691) | 20,747) | 20,729) | 20,562) | 20,021) | 20,394) | 20,348) | 20,830) | 20,009) | |||||||
| Accounts receivable, trade, less allowances | 16,777) | 16,350) | 16,160) | 15,890) | 16,139) | 15,594) | 15,283) | 14,911) | 14,871) | 14,938) | 13,576) | 14,579) | 14,645) | 14,874) | 14,481) | 14,801) | 14,653) | 14,115) | 14,098) | 14,048) | 14,111) | 14,166) | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||
| Receivables turnover1 | 5.83 | 5.89 | 5.88 | 6.04 | 5.92 | 6.08 | 6.14 | 6.13 | 6.00 | 5.64 | 6.08 | 5.55 | 5.50 | 5.56 | 5.67 | 5.52 | 5.55 | 5.78 | 5.79 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | |||||||||||||||||||||||||||||
| AbbVie Inc. | 4.88 | 4.95 | 5.16 | 5.38 | 5.10 | 5.29 | 5.63 | 5.94 | 5.42 | 5.24 | 5.19 | 4.83 | 4.34 | 5.35 | 6.13 | 5.94 | 5.95 | 5.75 | 6.08 | — | — | — | |||||||
| Amgen Inc. | 4.34 | 4.34 | 4.46 | 4.60 | 4.62 | 4.81 | 4.96 | 5.11 | 5.39 | 5.41 | 5.36 | 5.81 | 4.31 | 4.55 | 5.47 | 6.19 | 5.89 | 5.96 | 6.29 | — | — | — | |||||||
| Eli Lilly & Co. | 3.93 | 3.68 | 4.14 | 4.35 | 4.57 | 4.64 | 4.24 | 4.69 | 4.58 | 4.56 | 4.18 | 4.75 | 4.75 | 4.52 | 4.91 | 5.10 | 5.04 | 5.70 | 4.68 | — | — | — | |||||||
| Gilead Sciences Inc. | 6.43 | 6.43 | 5.65 | 6.16 | 6.60 | 7.18 | 6.01 | 5.95 | 6.34 | 6.43 | 4.98 | 5.83 | 6.84 | 5.73 | 6.18 | 6.64 | 6.46 | 6.66 | 6.52 | — | — | — | |||||||
| Merck & Co. Inc. | 5.29 | 5.56 | 6.27 | 6.22 | 5.93 | 5.49 | 5.28 | 5.56 | 6.00 | 5.65 | 6.11 | 5.62 | 6.23 | 5.88 | 6.91 | 5.45 | 5.57 | 5.66 | 5.98 | — | — | — | |||||||
| Pfizer Inc. | 7.62 | 7.55 | 9.16 | 6.21 | 6.68 | 6.99 | 7.08 | 5.81 | 5.23 | 4.70 | 5.28 | 4.29 | 4.96 | 4.93 | 5.93 | 5.62 | 5.48 | 5.61 | 6.68 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 2.47 | 2.42 | 2.28 | 2.47 | 2.76 | 3.41 | 2.66 | 2.48 | 1.77 | 2.20 | 2.07 | 2.04 | 2.84 | 2.72 | 2.94 | 2.87 | 2.95 | 3.00 | 2.99 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 5.43 | 5.53 | 5.53 | 5.76 | 5.53 | 5.21 | 4.92 | 7.03 | 6.99 | 6.46 | 5.61 | 5.49 | 5.86 | 5.69 | 5.87 | 5.75 | 6.02 | 5.93 | 5.89 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
1 Q2 2023 Calculation
Receivables turnover
= (Sales to customersQ2 2023
+ Sales to customersQ1 2023
+ Sales to customersQ4 2022
+ Sales to customersQ3 2022)
÷ Accounts receivable, trade, less allowances
= (25,530 + 24,746 + 23,706 + 23,791)
÷ 16,777 = 5.83
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Johnson & Johnson receivables turnover ratio improved from Q4 2022 to Q1 2023 but then deteriorated significantly from Q1 2023 to Q2 2023. |
Payables Turnover
Johnson & Johnson, payables turnover calculation (quarterly data)
| Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Cost of products sold | 8,212) | 8,395) | 7,765) | 7,807) | 7,919) | 7,598) | 7,955) | 7,250) | 7,587) | 7,063) | 7,814) | 6,972) | 6,579) | 7,062) | 7,134) | 6,867) | 6,940) | 6,615) | 6,961) | 6,589) | 6,927) | 6,614) | |||||||
| Accounts payable | 10,443) | 9,909) | 11,703) | 10,153) | 9,765) | 9,309) | 11,055) | 8,961) | 8,704) | 8,503) | 9,505) | 7,044) | 6,765) | 7,411) | 8,544) | 7,491) | 6,912) | 6,923) | 7,537) | 7,000) | 6,516) | 6,443) | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||
| Payables turnover1 | 3.08 | 3.22 | 2.66 | 3.08 | 3.15 | 3.26 | 2.70 | 3.32 | 3.38 | 3.34 | 2.99 | 3.94 | 4.09 | 3.78 | 3.23 | 3.66 | 3.92 | 3.91 | 3.59 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Amgen Inc. | 5.67 | 4.97 | 4.08 | 5.30 | 5.09 | 4.65 | 4.72 | 5.41 | 4.92 | 4.40 | 4.33 | 5.01 | 4.60 | 3.60 | 3.18 | 4.18 | 4.20 | 3.86 | 3.40 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 3.38 | 3.20 | 3.33 | 3.82 | 3.41 | 3.25 | 3.37 | 3.89 | 2.97 | 3.69 | 4.34 | 4.65 | 3.73 | 3.23 | 3.30 | 3.85 | 3.56 | 3.43 | 3.46 | — | — | — | |||||||
| Eli Lilly & Co. | 2.65 | 3.07 | 3.43 | 4.24 | 4.21 | 5.24 | 4.38 | 4.46 | 4.30 | 3.75 | 3.41 | 3.53 | 3.92 | 3.97 | 3.36 | 4.51 | 4.52 | 5.13 | 4.55 | — | — | — | |||||||
| Gilead Sciences Inc. | 9.06 | 8.99 | 6.25 | 11.22 | 11.89 | 11.43 | 9.36 | 9.18 | 8.70 | 8.71 | 5.42 | 9.22 | 8.93 | 7.94 | 6.56 | 7.22 | 7.48 | 8.33 | 6.14 | — | — | — | |||||||
| Merck & Co. Inc. | 4.58 | 4.34 | 4.08 | 5.16 | 4.86 | 4.25 | 2.96 | 4.54 | 3.93 | 3.81 | 3.37 | 3.64 | 4.10 | 4.02 | 3.78 | 4.29 | 4.25 | 4.43 | 4.07 | — | — | — | |||||||
| Pfizer Inc. | 3.92 | 4.78 | 5.04 | 5.49 | 6.17 | 6.66 | 5.53 | 5.11 | 3.72 | 2.68 | 2.02 | 2.02 | 2.32 | 2.45 | 2.42 | 2.71 | 2.69 | 2.68 | 2.41 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 3.14 | 2.69 | 2.65 | 3.74 | 4.00 | 5.39 | 4.32 | 4.23 | 3.42 | 2.23 | 2.36 | 2.24 | 2.48 | 2.36 | 1.87 | 2.01 | 2.29 | 2.08 | 1.99 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 10.82 | 9.35 | 7.67 | 9.93 | 8.84 | 7.96 | 6.83 | 8.31 | 8.88 | 8.12 | 7.45 | 8.82 | 10.35 | 8.93 | 7.40 | 8.44 | 9.92 | 9.33 | 8.36 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
1 Q2 2023 Calculation
Payables turnover
= (Cost of products soldQ2 2023
+ Cost of products soldQ1 2023
+ Cost of products soldQ4 2022
+ Cost of products soldQ3 2022)
÷ Accounts payable
= (8,212 + 8,395 + 7,765 + 7,807)
÷ 10,443 = 3.08
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. | Johnson & Johnson payables turnover ratio increased from Q4 2022 to Q1 2023 but then slightly decreased from Q1 2023 to Q2 2023. |
Working Capital Turnover
Johnson & Johnson, working capital turnover calculation (quarterly data)
| Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Current assets | 60,567) | 64,388) | 55,294) | 65,236) | 63,847) | 60,424) | 60,979) | 59,889) | 53,769) | 52,533) | 51,237) | 57,578) | 45,892) | 44,226) | 45,274) | 44,333) | 41,799) | 41,987) | 46,033) | 47,194) | 45,438) | 42,768) | |||||||
| Less: Current liabilities | 54,170) | 60,373) | 55,802) | 45,543) | 44,821) | 43,390) | 45,226) | 44,561) | 38,721) | 40,932) | 42,493) | 38,847) | 36,772) | 33,689) | 35,964) | 35,162) | 31,353) | 29,111) | 31,230) | 27,437) | 27,488) | 27,081) | |||||||
| Working capital | 6,397) | 4,015) | (508) | 19,693) | 19,026) | 17,034) | 15,753) | 15,328) | 15,048) | 11,601) | 8,744) | 18,731) | 9,120) | 10,537) | 9,310) | 9,171) | 10,446) | 12,876) | 14,803) | 19,757) | 17,950) | 15,687) | |||||||
| Sales to customers | 25,530) | 24,746) | 23,706) | 23,791) | 24,020) | 23,426) | 24,804) | 23,338) | 23,312) | 22,321) | 22,475) | 21,082) | 18,336) | 20,691) | 20,747) | 20,729) | 20,562) | 20,021) | 20,394) | 20,348) | 20,830) | 20,009) | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||
| Working capital turnover1 | 15.28 | 23.98 | — | 4.88 | 5.02 | 5.57 | 5.95 | 5.97 | 5.93 | 7.26 | 9.44 | 4.32 | 8.83 | 7.85 | 8.81 | 8.91 | 7.79 | 6.34 | 5.51 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | |||||||||||||||||||||||||||||
| AbbVie Inc. | — | — | — | — | — | — | — | 130.12 | — | — | — | — | — | 0.97 | 0.98 | 12.30 | — | 64.14 | — | — | — | — | |||||||
| Amgen Inc. | 0.84 | 0.82 | 3.82 | 2.52 | 3.67 | 4.34 | 3.37 | 2.55 | 5.35 | 2.84 | 2.55 | 1.87 | 1.87 | 3.27 | 3.96 | 1.10 | 1.11 | 1.00 | 0.93 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 5.53 | 5.55 | 8.30 | 5.75 | 4.92 | 6.24 | 3.95 | 4.43 | 4.24 | 4.25 | 3.72 | 2.77 | 3.09 | 2.38 | 2.28 | 0.78 | 0.82 | 2.71 | 3.32 | — | — | — | |||||||
| Eli Lilly & Co. | 12.21 | 5.77 | 31.84 | 14.71 | 19.45 | 8.19 | 8.33 | 6.73 | 12.14 | 5.21 | 4.93 | 5.45 | 8.85 | 16.68 | 11.54 | 12.35 | 14.53 | 17.59 | 2.84 | — | — | — | |||||||
| Gilead Sciences Inc. | 84.15 | 9.14 | 8.42 | 8.56 | 6.87 | 6.68 | 8.54 | 7.25 | 7.09 | 7.06 | 5.30 | 1.07 | 1.55 | 1.24 | 1.08 | 1.17 | 0.89 | 0.89 | 0.86 | — | — | — | |||||||
| Merck & Co. Inc. | 8.86 | 5.63 | 5.16 | 5.58 | 6.39 | 6.09 | 7.62 | 6.51 | 6.97 | 84.97 | 109.83 | 7.67 | 6.59 | 17.87 | 8.90 | 8.42 | 10.53 | 6.33 | 11.53 | — | — | — | |||||||
| Pfizer Inc. | 2.01 | 6.88 | 11.00 | 3.83 | 5.05 | 6.10 | 4.78 | 4.29 | 4.21 | 3.60 | 4.58 | 3.16 | 3.31 | 57.45 | — | — | 3.57 | 3.39 | 2.97 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 0.92 | 0.90 | 0.96 | 1.09 | 1.14 | 1.46 | 1.59 | 1.35 | 1.29 | 1.35 | 1.20 | 1.22 | 1.92 | 1.21 | 1.41 | 1.43 | 1.47 | 1.28 | 1.34 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 7.40 | 10.13 | 5.46 | 5.40 | 6.03 | 6.13 | 5.87 | 2.30 | 3.10 | 3.36 | 2.76 | 2.37 | 2.69 | 3.54 | 4.48 | 5.40 | 6.70 | 6.10 | 5.44 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
1 Q2 2023 Calculation
Working capital turnover
= (Sales to customersQ2 2023
+ Sales to customersQ1 2023
+ Sales to customersQ4 2022
+ Sales to customersQ3 2022)
÷ Working capital
= (25,530 + 24,746 + 23,706 + 23,791)
÷ 6,397 = 15.28
2 Click competitor name to see calculations.
Average Inventory Processing Period
Johnson & Johnson, average inventory processing period calculation (quarterly data)
| Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||
| Inventory turnover | 2.50 | 2.49 | 2.49 | 2.68 | 2.69 | 2.77 | 2.87 | 2.86 | 2.91 | 2.86 | 3.04 | 2.89 | 2.93 | 3.16 | 3.05 | 2.99 | 2.93 | 2.98 | 3.15 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||
| Average inventory processing period1 | 146 | 147 | 147 | 136 | 136 | 132 | 127 | 128 | 125 | 128 | 120 | 126 | 124 | 116 | 119 | 122 | 125 | 122 | 116 | — | — | — | |||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | |||||||||||||||||||||||||||||
| AbbVie Inc. | 85 | 81 | 75 | 66 | 73 | 74 | 65 | 63 | 67 | 68 | 79 | 100 | 155 | 88 | 89 | 94 | 94 | 83 | 76 | — | — | — | |||||||
| Amgen Inc. | 265 | 279 | 281 | 272 | 260 | 247 | 231 | 239 | 239 | 239 | 231 | 247 | 265 | 279 | 300 | 282 | 276 | 261 | 262 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 83 | 93 | 84 | 76 | 79 | 80 | 77 | 75 | 73 | 65 | 64 | 63 | 82 | 104 | 194 | 60 | 67 | 69 | 67 | — | — | — | |||||||
| Eli Lilly & Co. | 267 | 268 | 237 | 196 | 204 | 189 | 194 | 204 | 203 | 217 | 265 | 257 | 247 | 236 | 247 | 225 | 214 | 186 | 233 | — | — | — | |||||||
| Gilead Sciences Inc. | 106 | 102 | 97 | 78 | 81 | 81 | 89 | 114 | 122 | 131 | 134 | 76 | 81 | 77 | 72 | 71 | 70 | 68 | 61 | — | — | — | |||||||
| Merck & Co. Inc. | 137 | 134 | 124 | 118 | 119 | 133 | 159 | 134 | 131 | 152 | 149 | 164 | 156 | 148 | 155 | 156 | 160 | 156 | 147 | — | — | — | |||||||
| Pfizer Inc. | 158 | 119 | 95 | 101 | 100 | 99 | 107 | 131 | 203 | 284 | 338 | 405 | 348 | 316 | 296 | 281 | 279 | 264 | 244 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 532 | 549 | 562 | 440 | 379 | 287 | 292 | 415 | 445 | 653 | 625 | 664 | 635 | 659 | 661 | 726 | 860 | 885 | 968 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 79 | 79 | 79 | 85 | 91 | 94 | 94 | 94 | 91 | 91 | 91 | 93 | 93 | 88 | 87 | 86 | 85 | 84 | 81 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
1 Q2 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 2.50 = 146
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. |
Average Receivable Collection Period
Johnson & Johnson, average receivable collection period calculation (quarterly data)
| Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||
| Receivables turnover | 5.83 | 5.89 | 5.88 | 6.04 | 5.92 | 6.08 | 6.14 | 6.13 | 6.00 | 5.64 | 6.08 | 5.55 | 5.50 | 5.56 | 5.67 | 5.52 | 5.55 | 5.78 | 5.79 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||
| Average receivable collection period1 | 63 | 62 | 62 | 60 | 62 | 60 | 59 | 60 | 61 | 65 | 60 | 66 | 66 | 66 | 64 | 66 | 66 | 63 | 63 | — | — | — | |||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | |||||||||||||||||||||||||||||
| AbbVie Inc. | 75 | 74 | 71 | 68 | 72 | 69 | 65 | 61 | 67 | 70 | 70 | 76 | 84 | 68 | 60 | 61 | 61 | 64 | 60 | — | — | — | |||||||
| Amgen Inc. | 84 | 84 | 82 | 79 | 79 | 76 | 74 | 71 | 68 | 67 | 68 | 63 | 85 | 80 | 67 | 59 | 62 | 61 | 58 | — | — | — | |||||||
| Eli Lilly & Co. | 93 | 99 | 88 | 84 | 80 | 79 | 86 | 78 | 80 | 80 | 87 | 77 | 77 | 81 | 74 | 72 | 72 | 64 | 78 | — | — | — | |||||||
| Gilead Sciences Inc. | 57 | 57 | 65 | 59 | 55 | 51 | 61 | 61 | 58 | 57 | 73 | 63 | 53 | 64 | 59 | 55 | 56 | 55 | 56 | — | — | — | |||||||
| Merck & Co. Inc. | 69 | 66 | 58 | 59 | 62 | 66 | 69 | 66 | 61 | 65 | 60 | 65 | 59 | 62 | 53 | 67 | 66 | 64 | 61 | — | — | — | |||||||
| Pfizer Inc. | 48 | 48 | 40 | 59 | 55 | 52 | 52 | 63 | 70 | 78 | 69 | 85 | 74 | 74 | 62 | 65 | 67 | 65 | 55 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 148 | 151 | 160 | 148 | 132 | 107 | 137 | 147 | 206 | 166 | 177 | 179 | 128 | 134 | 124 | 127 | 124 | 122 | 122 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 67 | 66 | 66 | 63 | 66 | 70 | 74 | 52 | 52 | 56 | 65 | 66 | 62 | 64 | 62 | 63 | 61 | 62 | 62 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
1 Q2 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 5.83 = 63
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. |
Operating Cycle
Johnson & Johnson, operating cycle calculation (quarterly data)
No. days
| Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||
| Average inventory processing period | 146 | 147 | 147 | 136 | 136 | 132 | 127 | 128 | 125 | 128 | 120 | 126 | 124 | 116 | 119 | 122 | 125 | 122 | 116 | — | — | — | |||||||
| Average receivable collection period | 63 | 62 | 62 | 60 | 62 | 60 | 59 | 60 | 61 | 65 | 60 | 66 | 66 | 66 | 64 | 66 | 66 | 63 | 63 | — | — | — | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||
| Operating cycle1 | 209 | 209 | 209 | 196 | 198 | 192 | 186 | 188 | 186 | 193 | 180 | 192 | 190 | 182 | 183 | 188 | 191 | 185 | 179 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | |||||||||||||||||||||||||||||
| AbbVie Inc. | 160 | 155 | 146 | 134 | 145 | 143 | 130 | 124 | 134 | 138 | 149 | 176 | 239 | 156 | 149 | 155 | 155 | 147 | 136 | — | — | — | |||||||
| Amgen Inc. | 349 | 363 | 363 | 351 | 339 | 323 | 305 | 310 | 307 | 306 | 299 | 310 | 350 | 359 | 367 | 341 | 338 | 322 | 320 | — | — | — | |||||||
| Eli Lilly & Co. | 360 | 367 | 325 | 280 | 284 | 268 | 280 | 282 | 283 | 297 | 352 | 334 | 324 | 317 | 321 | 297 | 286 | 250 | 311 | — | — | — | |||||||
| Gilead Sciences Inc. | 163 | 159 | 162 | 137 | 136 | 132 | 150 | 175 | 180 | 188 | 207 | 139 | 134 | 141 | 131 | 126 | 126 | 123 | 117 | — | — | — | |||||||
| Merck & Co. Inc. | 206 | 200 | 182 | 177 | 181 | 199 | 228 | 200 | 192 | 217 | 209 | 229 | 215 | 210 | 208 | 223 | 226 | 220 | 208 | — | — | — | |||||||
| Pfizer Inc. | 206 | 167 | 135 | 160 | 155 | 151 | 159 | 194 | 273 | 362 | 407 | 490 | 422 | 390 | 358 | 346 | 346 | 329 | 299 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 680 | 700 | 722 | 588 | 511 | 394 | 429 | 562 | 651 | 819 | 802 | 843 | 763 | 793 | 785 | 853 | 984 | 1,007 | 1,090 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 146 | 145 | 145 | 148 | 157 | 164 | 168 | 146 | 143 | 147 | 156 | 159 | 155 | 152 | 149 | 149 | 146 | 146 | 143 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
1 Q2 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 146 + 63 = 209
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. |
Average Payables Payment Period
Johnson & Johnson, average payables payment period calculation (quarterly data)
| Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||
| Payables turnover | 3.08 | 3.22 | 2.66 | 3.08 | 3.15 | 3.26 | 2.70 | 3.32 | 3.38 | 3.34 | 2.99 | 3.94 | 4.09 | 3.78 | 3.23 | 3.66 | 3.92 | 3.91 | 3.59 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||
| Average payables payment period1 | 118 | 113 | 137 | 118 | 116 | 112 | 135 | 110 | 108 | 109 | 122 | 93 | 89 | 97 | 113 | 100 | 93 | 93 | 102 | — | — | — | |||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | |||||||||||||||||||||||||||||
| Amgen Inc. | 64 | 73 | 90 | 69 | 72 | 78 | 77 | 67 | 74 | 83 | 84 | 73 | 79 | 101 | 115 | 87 | 87 | 95 | 107 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 108 | 114 | 109 | 96 | 107 | 112 | 108 | 94 | 123 | 99 | 84 | 78 | 98 | 113 | 110 | 95 | 103 | 106 | 105 | — | — | — | |||||||
| Eli Lilly & Co. | 138 | 119 | 106 | 86 | 87 | 70 | 83 | 82 | 85 | 97 | 107 | 103 | 93 | 92 | 109 | 81 | 81 | 71 | 80 | — | — | — | |||||||
| Gilead Sciences Inc. | 40 | 41 | 58 | 33 | 31 | 32 | 39 | 40 | 42 | 42 | 67 | 40 | 41 | 46 | 56 | 51 | 49 | 44 | 59 | — | — | — | |||||||
| Merck & Co. Inc. | 80 | 84 | 89 | 71 | 75 | 86 | 123 | 80 | 93 | 96 | 108 | 100 | 89 | 91 | 97 | 85 | 86 | 82 | 90 | — | — | — | |||||||
| Pfizer Inc. | 93 | 76 | 72 | 66 | 59 | 55 | 66 | 71 | 98 | 136 | 181 | 180 | 157 | 149 | 151 | 135 | 136 | 136 | 152 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 116 | 136 | 138 | 98 | 91 | 68 | 84 | 86 | 107 | 164 | 155 | 163 | 147 | 155 | 195 | 181 | 159 | 175 | 183 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 34 | 39 | 48 | 37 | 41 | 46 | 53 | 44 | 41 | 45 | 49 | 41 | 35 | 41 | 49 | 43 | 37 | 39 | 44 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
1 Q2 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.08 = 118
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. | Johnson & Johnson number of days of payables outstanding decreased from Q4 2022 to Q1 2023 but then slightly increased from Q1 2023 to Q2 2023. |
Cash Conversion Cycle
Johnson & Johnson, cash conversion cycle calculation (quarterly data)
No. days
| Jul 2, 2023 | Apr 2, 2023 | Dec 31, 2022 | Oct 2, 2022 | Jul 3, 2022 | Apr 3, 2022 | Dec 31, 2021 | Oct 3, 2021 | Jul 4, 2021 | Apr 4, 2021 | Dec 31, 2020 | Sep 27, 2020 | Jun 28, 2020 | Mar 29, 2020 | Dec 29, 2019 | Sep 29, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 30, 2018 | Sep 30, 2018 | Jul 1, 2018 | Apr 1, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||
| Average inventory processing period | 146 | 147 | 147 | 136 | 136 | 132 | 127 | 128 | 125 | 128 | 120 | 126 | 124 | 116 | 119 | 122 | 125 | 122 | 116 | — | — | — | |||||||
| Average receivable collection period | 63 | 62 | 62 | 60 | 62 | 60 | 59 | 60 | 61 | 65 | 60 | 66 | 66 | 66 | 64 | 66 | 66 | 63 | 63 | — | — | — | |||||||
| Average payables payment period | 118 | 113 | 137 | 118 | 116 | 112 | 135 | 110 | 108 | 109 | 122 | 93 | 89 | 97 | 113 | 100 | 93 | 93 | 102 | — | — | — | |||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||
| Cash conversion cycle1 | 91 | 96 | 72 | 78 | 82 | 80 | 51 | 78 | 78 | 84 | 58 | 99 | 101 | 85 | 70 | 88 | 98 | 92 | 77 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | |||||||||||||||||||||||||||||
| Amgen Inc. | 285 | 290 | 273 | 282 | 267 | 245 | 228 | 243 | 233 | 223 | 215 | 237 | 271 | 258 | 252 | 254 | 251 | 227 | 213 | — | — | — | |||||||
| Eli Lilly & Co. | 222 | 248 | 219 | 194 | 197 | 198 | 197 | 200 | 198 | 200 | 245 | 231 | 231 | 225 | 212 | 216 | 205 | 179 | 231 | — | — | — | |||||||
| Gilead Sciences Inc. | 123 | 118 | 104 | 104 | 105 | 100 | 111 | 135 | 138 | 146 | 140 | 99 | 93 | 95 | 75 | 75 | 77 | 79 | 58 | — | — | — | |||||||
| Merck & Co. Inc. | 126 | 116 | 93 | 106 | 106 | 113 | 105 | 120 | 99 | 121 | 101 | 129 | 126 | 119 | 111 | 138 | 140 | 138 | 118 | — | — | — | |||||||
| Pfizer Inc. | 113 | 91 | 63 | 94 | 96 | 96 | 93 | 123 | 175 | 226 | 226 | 310 | 265 | 241 | 207 | 211 | 210 | 193 | 147 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 564 | 564 | 584 | 490 | 420 | 326 | 345 | 476 | 544 | 655 | 647 | 680 | 616 | 638 | 590 | 672 | 825 | 832 | 907 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 112 | 106 | 97 | 111 | 116 | 118 | 115 | 102 | 102 | 102 | 107 | 118 | 120 | 111 | 100 | 106 | 109 | 107 | 99 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01).
1 Q2 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 146 + 63 – 118 = 91
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Johnson & Johnson cash conversion cycle deteriorated from Q4 2022 to Q1 2023 but then slightly improved from Q1 2023 to Q2 2023. |