Stock Analysis on Net

Johnson & Johnson (NYSE:JNJ)

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

Microsoft Excel

Short-term Activity Ratios (Summary)

Johnson & Johnson, short-term (operating) activity ratios (quarterly data)

Microsoft Excel
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
Turnover Ratios
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
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
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
Working capital turnover 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
Average No. Days
Average inventory processing period 146 147 147 136 136 132 127 128 125 128 120 126 124 116 119 122 125 122 116
Add: Average receivable collection period 63 62 62 60 62 60 59 60 61 65 60 66 66 66 64 66 66 63 63
Operating cycle 209 209 209 196 198 192 186 188 186 193 180 192 190 182 183 188 191 185 179
Less: Average payables payment period 118 113 137 118 116 112 135 110 108 109 122 93 89 97 113 100 93 93 102
Cash conversion cycle 91 96 72 78 82 80 51 78 78 84 58 99 101 85 70 88 98 92 77

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)

Microsoft Excel
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)

Microsoft Excel
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)

Microsoft Excel
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)

Microsoft Excel
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)

Microsoft Excel
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)

Microsoft Excel
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

Microsoft Excel
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)

Microsoft Excel
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

Microsoft Excel
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 + 63118 = 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.