Philip Morris International Inc. (PM)


Analysis of Long-term (Investment) Activity Ratios
Quarterly Data

Beginner level

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


Long-term Activity Ratios (Summary)

Philip Morris International Inc., long-term (investment) activity ratios (quarterly data)

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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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Net fixed asset turnover 11.75 11.74 11.27 11.47 11.08 11.42 11.49 10.72 10.74 11.04 11.31 11.93 12.36 12.09 12.41 12.51 12.92
Total asset turnover 1.82 1.88 1.95 2.08 2.01 2.07 2.01 1.86 1.82 1.80 1.94 2.04 2.03 2.08 2.12 2.12 2.18
Equity turnover

Based on: 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-17), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-05-01).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Philip Morris International Inc.’s net fixed asset turnover ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Philip Morris International Inc.’s total asset turnover ratio deteriorated from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity.

Net Fixed Asset Turnover

Philip Morris International Inc., net fixed asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Revenues including excise taxes 19,849  20,380  19,987  17,705  19,858  20,439  21,100  18,426  21,585  20,638  19,319  16,556  19,189  19,935  19,041  16,788  18,371  19,422  18,763  17,352 
Property, plant and equipment, less accumulated depreciation 6,631  6,636  6,917  6,894  7,201  7,138  7,113  7,459  7,271  6,857  6,629  6,264  6,064  6,133  5,931  5,865  5,721  5,600  5,815  5,697 
Long-term Activity Ratio
Net fixed asset turnover1 11.75 11.74 11.27 11.47 11.08 11.42 11.49 10.72 10.74 11.04 11.31 11.93 12.36 12.09 12.41 12.51 12.92
Benchmarks
Net Fixed Asset Turnover, Competitors2
Altria Group Inc. 12.85 13.14 12.95 13.09 13.41 13.44 13.54 13.36 13.49 13.63 13.40 13.15 13.11 13.05 13.14 12.83 12.59 12.64 12.58

Based on: 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-17), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Net fixed asset turnover = (Revenues including excise taxesQ4 2019 + Revenues including excise taxesQ3 2019 + Revenues including excise taxesQ2 2019 + Revenues including excise taxesQ1 2019) ÷ Property, plant and equipment, less accumulated depreciation
= (19,849 + 20,380 + 19,987 + 17,705) ÷ 6,631 = 11.75

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Philip Morris International Inc.’s net fixed asset turnover ratio improved from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Total Asset Turnover

Philip Morris International Inc., total asset turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Revenues including excise taxes 19,849  20,380  19,987  17,705  19,858  20,439  21,100  18,426  21,585  20,638  19,319  16,556  19,189  19,935  19,041  16,788  18,371  19,422  18,763  17,352 
Total assets 42,875  41,420  39,923  38,042  39,801  39,380  40,721  43,070  42,968  41,951  38,660  36,627  36,851  35,577  34,802  34,621  33,956  32,011  32,713  33,255 
Long-term Activity Ratio
Total asset turnover1 1.82 1.88 1.95 2.08 2.01 2.07 2.01 1.86 1.82 1.80 1.94 2.04 2.03 2.08 2.12 2.12 2.18
Benchmarks
Total Asset Turnover, Competitors2
Altria Group Inc. 0.48 0.44 0.42 0.46 0.58 0.58 0.58 0.59 0.58 0.59 0.56 0.56 0.78 0.82 0.75 0.78 0.79 0.79 0.73

Based on: 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-17), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Total asset turnover = (Revenues including excise taxesQ4 2019 + Revenues including excise taxesQ3 2019 + Revenues including excise taxesQ2 2019 + Revenues including excise taxesQ1 2019) ÷ Total assets
= (19,849 + 20,380 + 19,987 + 17,705) ÷ 42,875 = 1.82

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Philip Morris International Inc.’s total asset turnover ratio deteriorated from Q2 2019 to Q3 2019 and from Q3 2019 to Q4 2019.

Equity Turnover

Philip Morris International Inc., equity turnover calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Revenues including excise taxes 19,849  20,380  19,987  17,705  19,858  20,439  21,100  18,426  21,585  20,638  19,319  16,556  19,189  19,935  19,041  16,788  18,371  19,422  18,763  17,352 
Total PMI stockholders’ deficit (11,577) (11,010) (11,199) (11,968) (12,459) (11,720) (11,915) (12,350) (12,086) (11,407) (12,008) (12,392) (12,688) (12,142) (12,556) (12,753) (13,244) (13,582) (13,151) (13,616)
Long-term Activity Ratio
Equity turnover1
Benchmarks
Equity Turnover, Competitors2
Altria Group Inc. 2.39 1.74 1.77 1.72 1.64 1.60 1.66 1.66 2.11 2.09 2.10 2.02 8.77 8.15 9.36 8.83 8.79 9.06 9.79

Based on: 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-17), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-05-01).

1 Q4 2019 Calculation
Equity turnover = (Revenues including excise taxesQ4 2019 + Revenues including excise taxesQ3 2019 + Revenues including excise taxesQ2 2019 + Revenues including excise taxesQ1 2019) ÷ Total PMI stockholders’ deficit
= (19,849 + 20,380 + 19,987 + 17,705) ÷ -11,577 =

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity.