Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Ratios (Summary)
Net Fixed Asset Turnover
Total Asset Turnover
Equity Turnover

Merck & Co. Inc., long-term (investment) activity ratios (quarterly data)

		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	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Net fixed asset turnover
	Total asset turnover
	Equity turnover

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Merck & Co. Inc.’s net fixed asset turnover deteriorated from Q3 2018 to Q4 2018 but then slightly improved from Q4 2018 to Q1 2019.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Merck & Co. Inc.’s total asset turnover improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Merck & Co. Inc.’s equity turnover improved from Q3 2018 to Q4 2018 but then slightly deteriorated from Q4 2018 to Q1 2019.

Merck & Co. Inc., net fixed asset turnover calculation (quarterly data)

		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	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (USD $ in millions)
	Sales
	Property, plant and equipment, at cost, net of accumulated depreciation
	Ratio
	Net fixed asset turnover¹

Q1 2019 Calculations

¹ Net fixed asset turnover = (Sales_{Q1 2019} + Sales_{Q4 2018} + Sales_{Q3 2018} + Sales_{Q2 2018}) ÷ Property, plant and equipment, at cost, net of accumulated depreciation
= ( hidden + hidden + hidden + hidden ) ÷ hidden = hidden

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	Merck & Co. Inc.’s net fixed asset turnover deteriorated from Q3 2018 to Q4 2018 but then slightly improved from Q4 2018 to Q1 2019.

Merck & Co. Inc., total asset turnover calculation (quarterly data)

		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	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (USD $ in millions)
	Sales
	Total assets
	Ratio
	Total asset turnover¹

Q1 2019 Calculations

¹ Total asset turnover = (Sales_{Q1 2019} + Sales_{Q4 2018} + Sales_{Q3 2018} + Sales_{Q2 2018}) ÷ Total assets
= ( hidden + hidden + hidden + hidden ) ÷ hidden = hidden

Ratio	Description	The company
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	Merck & Co. Inc.’s total asset turnover improved from Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.

Merck & Co. Inc., equity turnover calculation (quarterly data)

		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	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014
	Selected Financial Data (USD $ in millions)
	Sales
	Total Merck & Co., Inc. stockholders’ equity
	Ratio
	Equity turnover¹

Q1 2019 Calculations

¹ Equity turnover = (Sales_{Q1 2019} + Sales_{Q4 2018} + Sales_{Q3 2018} + Sales_{Q2 2018}) ÷ Total Merck & Co., Inc. stockholders’ equity
= ( hidden + hidden + hidden + hidden ) ÷ hidden = hidden

Ratio	Description	The company
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	Merck & Co. Inc.’s equity turnover improved from Q3 2018 to Q4 2018 but then slightly deteriorated from Q4 2018 to Q1 2019.

	Merck & Co. Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

Merck & Co. Inc. (MRK)

Long-term (Investment) Activity Analysis
Quarterly Data

Ratios (Summary)

Net Fixed Asset Turnover

Total Asset Turnover

Equity Turnover

Merck & Co. Inc. (MRK)

Long-term (Investment) Activity AnalysisQuarterly Data

Ratios (Summary)

Net Fixed Asset Turnover

Total Asset Turnover

Equity Turnover

Long-term (Investment) Activity Analysis
Quarterly Data