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.
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Enterprise Value to EBITDA (EV/EBITDA)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Long-term Activity Ratios (Summary)
Kimberly-Clark Corp., long-term (investment) activity ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrates a relatively stable trend over the analyzed periods, starting from 2.54 in March 2016 and fluctuating slightly through to March 2021 where it stands at 2.39. The values oscillate marginally between approximately 2.38 and 2.63, indicating consistent asset utilization efficiency in generating sales. There is no pronounced upward or downward trend, suggesting steady performance in the management of fixed assets.
- Total Asset Turnover
- Total asset turnover shows a mild declining trend from a high of around 1.25 in March 2016 to about 1.10 in March 2021. The ratio remains stable near 1.20-1.27 for several quarters between 2016 and 2019, but post-2019, a gradual decrease is observed. This indicates a slight reduction in the efficiency of overall asset use in generating revenue, potentially reflecting either increased asset base or decreased sales efficiency in later periods.
- Equity Turnover
- The equity turnover ratio presents a highly volatile pattern with considerable fluctuations. Values spike dramatically as high as 178.19 in June 2017 and then drop to lower figures such as 29.03 in December 2017. The data shows repeated irregular movements with some missing quarters, and the last recorded values indicate a decrease followed by moderate recovery, ending at 36.44 in March 2021. This suggests significant variability in how effectively shareholder equity is being used to generate sales, possibly influenced by changes in equity levels or operational performance during the periods.
Net Fixed Asset Turnover
Kimberly-Clark Corp., net fixed asset turnover calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Property, plant and equipment, net | ||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||
| Net fixed asset turnover1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Procter & Gamble Co. | ||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).
1 Q1 2021 Calculation
Net fixed asset turnover
= (Net salesQ1 2021
+ Net salesQ4 2020
+ Net salesQ3 2020
+ Net salesQ2 2020)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- The net sales figures show fluctuations but generally maintain a range between approximately 4,400 million and 5,000 million US dollars over the periods analyzed. Initial quarters in 2016 reflected values near 4,500 million, with minor increases in subsequent quarters. A notable rise occurred in the first quarter of 2020, where net sales peaked around 5,009 million US dollars, indicating a temporary boost in revenue. However, sales declined sharply in the second quarter of 2020 to approximately 4,612 million, likely reflecting external disruptions. Throughout 2020 and into early 2021, net sales stabilized around the 4,700 to 4,800 million mark, signaling a recovery toward previous levels.
- Property, Plant, and Equipment, Net
- The net property, plant, and equipment value generally increased across the reported periods, moving from approximately 7,188 million US dollars in early 2016 to a peak of around 8,042 million by the first quarter of 2020. Despite some quarter-to-quarter declines, the overall trend points to sustained capital investment or asset appreciation. A slight decline is observed in the latest quarter to about 7,887 million US dollars, suggesting possible asset disposals, write-downs, or reduced capital expenditures.
- Net Fixed Asset Turnover Ratio
- The net fixed asset turnover ratio remained relatively stable around the mid-2.5s throughout the measured intervals. Starting around 2.54 in late 2016, the ratio experienced minor fluctuations within a narrow band, declining slightly toward the end of 2019 to about 2.38. This decrease may indicate a reduction in asset efficiency or increased asset base relative to sales. However, the ratio showed marginal improvement during the pandemic period, rising back to approximately 2.39 by early 2021, which could reflect efforts to optimize asset utilization in a challenging environment.
- Summary
- The overall financial pattern demonstrates relative stability in net sales with a momentary uptick and subsequent impact during early 2020, likely indicative of external shocks affecting sales. Investment in property, plant, and equipment displayed a steady upward trend, signaling ongoing capital expenditure and asset growth over time. The fixed asset turnover ratio's slight downward drift suggests that asset utilization efficiency has faced moderate pressure but maintained resilience, showing subtle recovery in recent periods. Together, these trends underscore a company navigating cyclical revenue changes while sustaining asset growth and operational efficiency.
Total Asset Turnover
Kimberly-Clark Corp., total asset turnover calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||
| Total asset turnover1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Procter & Gamble Co. | ||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).
1 Q1 2021 Calculation
Total asset turnover
= (Net salesQ1 2021
+ Net salesQ4 2020
+ Net salesQ3 2020
+ Net salesQ2 2020)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net sales
-
Net sales exhibit a generally stable pattern over the observed periods, with values fluctuating within a relatively narrow range. Initial quarters in 2016 show sales around 4,476 to 4,594 million US dollars, followed by a slight increase reaching about 4,731 million in the first quarter of 2018. Sales then stabilize, fluctuating around 4,600 to 4,640 million in subsequent quarters through 2019. Notably, there is a significant rise in March 2020, with net sales reaching 5,009 million US dollars, suggesting increased demand or pricing adjustments during this period. However, subsequent quarters see a moderate decline, though levels remain above the pre-2020 range, indicating some sustained improvement.
- Total assets
-
Total assets display a gradual upward trend over the entire timeframe. Starting from approximately 14,820 million US dollars in the first quarter of 2016, asset levels show minor fluctuations but generally increase, reaching around 17,523 million by March 2021, representing a growth of roughly 18% over five years. This steady asset growth could reflect investments in property, equipment, or other asset categories, supporting operational capacity or strategic expansions.
- Total asset turnover
-
The total asset turnover ratio, available from the first quarter of 2017 onwards, indicates a moderate decline over time. Ratios begin around 1.25 and remain near this level through 2018, suggesting relatively efficient use of assets in generating sales. However, from 2019 forward, the ratio declines steadily from about 1.21 to approximately 1.09 by December 2020, before a slight recovery to 1.10 in March 2021. This decreasing trend implies that while assets grew, the rate of sales generation relative to asset size diminished marginally, signaling potential challenges in asset utilization efficiency or changing business dynamics.
Equity Turnover
Kimberly-Clark Corp., equity turnover calculation (quarterly data)
| 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 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||
| Total Kimberly-Clark Corporation stockholders’ equity | ||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||
| Equity turnover1 | ||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Procter & Gamble Co. | ||||||||||||||||||||||||||||
Based on: 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), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31).
1 Q1 2021 Calculation
Equity turnover
= (Net salesQ1 2021
+ Net salesQ4 2020
+ Net salesQ3 2020
+ Net salesQ2 2020)
÷ Total Kimberly-Clark Corporation stockholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The quarterly financial data reveals several notable trends in net sales, stockholders’ equity, and equity turnover over the examined periods.
- Net Sales
- Net sales generally exhibit fluctuations within a moderate range across the quarters, maintaining values mostly between approximately 4,400 and 4,800 million US dollars. There is some seasonality visible; for instance, sales peaked at 4,731 million in March 2018 and reached a high of 5,009 million in March 2020, indicating growth around fiscal year-ends. However, there are periodic declines as well, such as the drop from 4,731 million in March 2018 to 4,604 million in June 2018, suggesting transient market or operational effects. Overall, net sales demonstrate a relatively stable performance with mild upward trajectory toward 2020 before a slight decrease in early 2021.
- Total Stockholders’ Equity
- Stockholders’ equity figures show high volatility and negative values over multiple quarters, indicating potential inconsistencies or restructuring within shareholder investment or retained earnings. Initial data points in 2016 fluctuate dramatically from 109 million to -102 million by December 2016. The negative trend continues sporadically through late 2018 and 2019, with several quarters showing substantial negative equity values (e.g., -305 million in December 2018). Moving into 2020 and 2021, equity shifts positively, reaching up to 626 million in December 2020 and maintaining an elevated level of 518 million in March 2021. This pattern suggests periods of financial distress or accounting adjustments earlier on, followed by recovery or recapitalization in more recent quarters.
- Equity Turnover Ratio
- The equity turnover ratio data is available only sporadically and exhibits significant swings, indicating dramatic changes in efficiency or asset utilization relative to equity during the recorded quarters. For instance, unusually high ratios of 133.89 and 178.19 are observed mid-2017, then a steep drop to 29.03 by December 2017, followed by partial recovery. This ratio again spikes to 70.31 in March 2020 before declining to 30.58 by September 2020 and fluctuating slightly thereafter. Such volatility might reflect instability in equity levels combined with relatively steady sales, or changes in operational efficiency and financial structure.
In summary, net sales remain relatively stable with modest growth signals, while stockholders’ equity undergoes considerable turbulence with negative values in various periods and notable recovery starting in 2020. The equity turnover ratio’s high variability further underscores changes in financial leverage and asset utilization efficiency throughout the quarters. Together, these dynamics suggest the company experienced significant equity and financial structure challenges but sustained consistent revenue generation over time.