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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Long-term Activity Ratios (Summary)
Motorola Solutions Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).
- Net fixed asset turnover
- The net fixed asset turnover ratio exhibited a declining trend from March 2020 through December 2020, decreasing from 8.46 to 7.25. Starting in early 2021, the ratio showed gradual improvement, peaking at 10.57 in September 2023 before slightly declining but remaining above 10.3 through mid-2024. This indicates increasing efficiency in utilizing fixed assets over time, particularly after the initial downturn in 2020.
- Net fixed asset turnover (including operating lease, right-of-use asset)
- When including operating leases and right-of-use assets, the net fixed asset turnover ratio also declined in 2020 from 5.43 to 4.98. Following this, there was a steady upward trend with some fluctuations, reaching a notable peak of 7.25 in October 2022, then experiencing a temporary decrease before recovering to levels around 6.8 by mid-2024. This suggests a growing but somewhat volatile efficiency in using assets under lease accounting.
- Total asset turnover
- Total asset turnover remained relatively stable with minor fluctuations throughout the period. It started at 0.74 in early 2020, dipped to a low of 0.67 in December 2021, then recovered to 0.79 by mid-2023. The ratio exhibited moderate improvement into 2024, closing near 0.78. This pattern reflects consistent but modest improvement in overall asset utilization to generate revenue.
- Equity turnover
- Equity turnover data appears incomplete and irregular over the periods, with values only available from October 2022 onward. The ratio showed a sharp decline from a high of 78.55 in October 2022 to 12.99 by June 2024, indicating a significant reduction in the efficiency of generating sales from equity during this timeframe. The large initial figure followed by consistent drops may indicate reporting anomalies or substantial changes in equity structure or sales.
Net Fixed Asset Turnover
Motorola Solutions Inc., net fixed asset turnover calculation (quarterly data)
| Jun 29, 2024 | Mar 30, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | ||||||||||||||||||||||||
| Apple Inc. | ||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).
1 Q2 2024 Calculation
Net fixed asset turnover
= (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The net sales exhibit a cyclical pattern with fluctuations across the quarters. Initially, net sales decreased from 1,655 million USD in March 2020 to 1,618 million USD in June 2020, followed by a steady increase reaching a peak of 2,320 million USD in December 2021. Subsequently, net sales show another period of decline and recovery, rising again to 2,848 million USD by December 2023 before dipping slightly and then increasing to 2,628 million USD by June 2024. This pattern suggests seasonality with some growth momentum over the observed period.
Property, plant, and equipment (net) values have remained relatively stable throughout the timeline. There is a modest increase from 932 million USD in March 2020 to a peak of 1,080 million USD in April 2022, followed by a decrease and stabilization around the 930-960 million USD range from mid-2022 through June 2024. This indicates limited significant capital expenditure or disposals impacting net fixed assets during this period.
The net fixed asset turnover ratio displays an upward trend across the quarters, starting at 8.46 in March 2020 and gradually increasing to a range above 10 from October 2022 onward. The highest values are observed between late 2022 and mid-2024, with peaks around 10.65 in March 2024. This improving asset turnover ratio indicates enhanced efficiency in utilizing fixed assets to generate net sales, reflecting better operational performance or increased sales volume relative to the asset base.
- Overall Trends:
- Net sales demonstrate seasonality and growth over the multi-year period.
- Property, plant, and equipment values remain fairly constant, signaling little change in fixed asset investment.
- There is a clear upward trend in net fixed asset turnover, suggesting improved asset utilization efficiency.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Motorola Solutions Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).
1 Q2 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= ( + + + )
÷ =
The financial data reveals several notable trends across key operational and asset management metrics over the evaluated periods.
- Net Sales
- Net sales exhibited a general upward trend from the beginning of the period up to December 2020, increasing from $1,655 million to $2,273 million. This was followed by fluctuations in subsequent quarters, with sales declining in early 2021 months before recovering towards the end of 2021. In 2022 and into 2023, net sales continued to increase, reaching a peak of $2,848 million in the fourth quarter of 2023. However, sales saw periodic declines in some quarters (e.g., April 2022 and April 2023), indicating variability in revenue generation. Overall, the trend suggests growth with intermittent variability likely due to market or operational factors.
- Property, Plant, and Equipment, Net
- The net value of property, plant, and equipment, including operating lease right-of-use assets, showed relative stability with minor fluctuations. Initial values around $1,453 million decreased slightly over the early periods before stabilizing near $1,400-$1,500 million in later quarters. A notable dip occurred in late 2022 ($1,204 million), which recovered in subsequent periods. This stability suggests controlled asset management and maintenance of fixed asset base despite fluctuations in other operational areas.
- Net Fixed Asset Turnover
- This ratio, representing the efficiency of the company in using its fixed assets to generate sales, showed an overall improvement over the observed periods. Starting at 5.43 in the first quarter of 2020, the ratio slightly declined through late 2020, hitting a low near 4.98, before improving significantly in 2021 and 2022, peaking at 7.25 in October 2022. Thereafter, it showed slight decreases but remained elevated compared to earlier periods, stabilizing around 6.8 to 6.9 by mid-2024. This improvement highlights enhanced operational efficiency and better utilization of fixed assets to drive sales growth over time.
In summary, the data indicates a pattern of revenue growth with some quarter-to-quarter variability, stable management of fixed asset base, and a marked improvement in asset utilization efficiency. These trends collectively reflect positive operational performance and effective resource deployment throughout the periods analyzed.
Total Asset Turnover
Motorola Solutions Inc., total asset turnover calculation (quarterly data)
| Jun 29, 2024 | Mar 30, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||
| Total asset turnover1 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||
| Apple Inc. | ||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).
1 Q2 2024 Calculation
Total asset turnover
= (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- The net sales figures exhibit a cyclical pattern with notable fluctuations across the quarters. Initially, there was a decline from $1,655 million in March 2020 to $1,618 million in June 2020, followed by a significant increase peaking at $2,273 million by December 2020. This peak was succeeded by a decrease through April 2021, then a general upward trend resumed, reaching a new high of $2,848 million by December 2023. The most recent data shows a slight reduction to $2,628 million by June 2024. Overall, net sales demonstrate growth over the observed period, despite intermittent quarter-to-quarter volatility.
- Total Assets
- Total assets showed moderate variability across the quarters, beginning at $10,716 million in March 2020 and generally increasing to $13,345 million by June 2024. There were small fluctuations within this upward trend, including periods of consolidation around $12,000 million to $13,300 million range after December 2021. The data reflects steady asset growth, indicating ongoing investments or accumulation of resources over the time span.
- Total Asset Turnover
- The total asset turnover ratio has remained relatively stable, fluctuating between approximately 0.67 and 0.79. Early in the period, the ratio was around 0.74 but experienced a dip to 0.67 by December 2021. After this low point, it gradually improved, peaking near 0.79 during the third quarter of 2023, and slightly pulling back to 0.78 in June 2024. This ratio trend suggests consistent efficiency in generating sales from assets, with some improvement in asset utilization efficiency in the latter periods.
- Summary
- The financial data reflects a company that has navigated through a period of volatile sales performance with an overall positive growth trajectory. Asset growth accompanies this sales expansion, suggesting investments to support increased operations. The slight improvement in asset turnover ratio towards the end of the period indicates enhanced management effectiveness in utilizing assets to generate revenue. These trends collectively point to a strengthening operational profile, balancing growth in scale with efficiency improvements.
Equity Turnover
Motorola Solutions Inc., equity turnover calculation (quarterly data)
| Jun 29, 2024 | Mar 30, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Dec 31, 2021 | Oct 2, 2021 | Jul 3, 2021 | Apr 3, 2021 | Dec 31, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||
| Total Motorola Solutions, Inc. stockholders’ equity (deficit) | ||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||
| Equity turnover1 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||
| Apple Inc. | ||||||||||||||||||||||||
| Arista Networks Inc. | ||||||||||||||||||||||||
| Cisco Systems Inc. | ||||||||||||||||||||||||
| Dell Technologies Inc. | ||||||||||||||||||||||||
| Super Micro Computer Inc. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).
1 Q2 2024 Calculation
Equity turnover
= (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
÷ Total Motorola Solutions, Inc. stockholders’ equity (deficit)
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The quarterly financial data reveals several noteworthy trends in the company's performance and financial position over the observed periods.
- Net Sales
- Net sales exhibit a generally upward trajectory with some fluctuations. After a slight decline in the second quarter of 2020, sales rose markedly into the fourth quarter of 2020, reaching a peak of 2,320 million US dollars by December 2021. A similar pattern of quarterly growth followed in subsequent years, with net sales reaching the highest value of 2,848 million US dollars by December 2023. This growth, however, is punctuated by periodic decreases in the first quarters of several years, suggesting some seasonality in sales.
- Stockholders’ Equity (Deficit)
- The company’s equity position shows a significant improvement over time despite initial deficits in early 2020. The equity deficit was at its greatest in March 2020, at negative 948 million US dollars, and consistently improved thereafter, turning positive by December 2022. From this point, equity strengthened substantially, peaking at 802 million US dollars by June 2024. This progression indicates effective management of financial obligations and asset growth.
- Equity Turnover
- The equity turnover ratio is available only for the most recent periods, showing a declining trend from 78.55 in early 2022 to 12.99 by mid-2024. This decline may suggest that sales growth is outpacing growth in equity or that the asset base is expanding relative to equity. The ratio's decrease might also indicate a change in operational efficiency or capital usage.
Overall, the data suggests a company that has significantly improved its equity base while maintaining steady growth in net sales. The decline in equity turnover warrants further analysis to understand the underlying factors affecting capital utilization efficiency.