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.
Long-term Activity Ratios (Summary)
Sysco Corp., long-term (investment) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-K (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-Q (reporting date: 2021-10-02), 10-K (reporting date: 2021-07-03), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-K (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio demonstrates a declining trend from September 2019, starting at 13.4, decreasing steadily to a low of 10.24 by March 2021. Following this period, the ratio shows a robust recovery and upward trend, peaking at 16.25 in April 2023. Subsequently, it experiences a mild decreasing pattern but remains elevated compared to earlier levels, ending at 14.34 in June 2024. This indicates improved efficiency in the utilization of fixed assets over the medium term after a period of decline.
- Net Fixed Asset Turnover (including operating lease, right-of-use asset)
- This adjusted metric, which includes right-of-use assets related to operating leases, aligns closely with the net fixed asset turnover but consistently registers lower values. It decreases from 11.76 in September 2019 to a low of 8.88 in March 2021, mirroring the trend observed in the unadjusted figure. From that point, there is a steady increase, reaching a high of 14.1 in April 2023 before tapering off slightly to 12.28 by June 2024. The inclusion of operating leases tends to reduce turnover ratios, but the recovery pattern remains consistent, suggesting improved asset use inclusive of leased assets.
- Total Asset Turnover
- The total asset turnover ratio exhibits a clear downward trajectory from 3.18 in September 2019 to a trough of 2.0 in March 2021, implying reduced efficiency in using total assets to generate revenue during that timeframe. After this low point, the ratio steadily improves, reaching a peak of 3.34 in July 2023, indicating a notable recovery in asset utilization efficiency. The ratio slightly declines afterward but remains relatively stable around 3.1 to 3.3 through to June 2024.
- Equity Turnover
- Equity turnover ratios reveal significant volatility over the observed periods. Beginning at 24.52 in September 2019, there is a sharp increase to a peak of 45.65 by March 2020, followed by fluctuations with intermittent peaks and troughs. The ratio exhibits another elevation point near 63.93 in October 2022, suggesting periods of high efficiency in generating sales relative to equity. However, subsequent quarters show varied decreases and rebounds, ending at 42.39 in June 2024, which although lower than the peak, remains substantially elevated compared to the initial periods.
Net Fixed Asset Turnover
Sysco Corp., net fixed asset turnover calculation (quarterly data)
| Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Mar 27, 2021 | Dec 26, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Sales | 20,556) | 19,380) | 19,288) | 19,620) | 19,728) | 18,876) | 18,594) | 19,127) | 18,957) | 16,902) | 16,320) | 16,457) | 16,137) | 11,825) | 11,559) | 11,777) | 8,867) | 13,699) | 15,025) | 15,303) | ||||||
| Plant and equipment at cost, less accumulated depreciation | 5,497) | 5,290) | 5,157) | 5,021) | 4,915) | 4,649) | 4,562) | 4,463) | 4,456) | 4,345) | 4,307) | 4,343) | 4,326) | 4,298) | 4,383) | 4,405) | 4,459) | 4,605) | 4,594) | 4,493) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Net fixed asset turnover1 | 14.34 | 14.75 | 15.03 | 15.30 | 15.53 | 16.25 | 16.13 | 15.98 | 15.40 | 15.15 | 14.10 | 12.89 | 11.86 | 10.24 | 10.47 | 11.21 | 11.86 | 12.92 | 13.16 | 13.40 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| Costco Wholesale Corp. | 8.60 | 8.87 | 8.84 | 8.87 | 8.91 | 8.91 | 8.94 | 9.02 | 9.04 | 8.84 | 8.57 | 8.34 | 8.18 | 7.89 | 7.77 | 7.60 | — | — | — | — | ||||||
| Target Corp. | 3.25 | 3.22 | 3.28 | 3.37 | 3.46 | 3.52 | 3.62 | 3.73 | 3.76 | 3.70 | 3.68 | 3.66 | 3.48 | 3.31 | 3.17 | 3.01 | — | — | — | — | ||||||
| Walmart Inc. | 5.51 | 5.59 | 5.67 | 5.74 | 5.73 | 5.82 | 5.79 | 5.75 | 5.74 | 5.88 | 5.87 | 5.88 | 5.77 | 5.08 | 5.08 | 4.98 | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-K (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-Q (reporting date: 2021-10-02), 10-K (reporting date: 2021-07-03), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-K (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28).
1 Q4 2024 Calculation
Net fixed asset turnover
= (SalesQ4 2024
+ SalesQ3 2024
+ SalesQ2 2024
+ SalesQ1 2024)
÷ Plant and equipment at cost, less accumulated depreciation
= (20,556 + 19,380 + 19,288 + 19,620)
÷ 5,497 = 14.34
2 Click competitor name to see calculations.
- Sales Trends
- The sales figures display noticeable volatility over the analyzed periods. Initially, sales declined from approximately 15,303 million USD in late 2019 to a low of 8,867 million USD by mid-2020, reflecting a significant contraction. Subsequently, a recovery phase ensued, with sales rising steadily to exceed pre-decline levels, peaking at 20,556 million USD by mid-2024. This upward trajectory after the trough suggests a strong rebound and growth momentum in recent quarters.
- Plant and Equipment (Net) Trends
- The net value of plant and equipment exhibited a gradual but consistent increase from 4,493 million USD at the end of September 2019 to 5,497 million USD by mid-2024. This steady accumulation reflects ongoing investments or capital expenditures in fixed assets, which may support future operational capacity and growth.
- Net Fixed Asset Turnover Ratio Trends
- The net fixed asset turnover ratio began at 13.4 in late 2019 and experienced a downward trend through early 2021, reaching a low near 10.24. This decline corresponds with the period of sales contraction and moderate increases in net fixed assets, indicating less efficient use of fixed assets during this time. From mid-2021, the ratio reversed course, showing a marked improvement and peaking around 16.25 in early 2023. Thereafter, a slight decline is observed, but the ratio remains elevated compared to the initial period, settling near 14.34 by mid-2024. The improved turnover ratio suggests enhanced asset utilization efficiency following the recovery in sales.
- Combined Insights
- During the downturn in sales around early 2020, the company's fixed assets remained relatively stable or slightly increased, resulting in reduced asset turnover efficiency. However, the robust recovery in sales post-2020 led to an increase in turnover ratios, reflecting better deployment of plant and equipment in revenue generation. Continuous investment in fixed assets alongside growing sales volumes may indicate strategic positioning for sustained growth. Despite a minor recent decline in turnover ratio, the overall trend points to improved operational efficiency compared to pre-downturn levels.
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Sysco Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Mar 27, 2021 | Dec 26, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Sales | 20,556) | 19,380) | 19,288) | 19,620) | 19,728) | 18,876) | 18,594) | 19,127) | 18,957) | 16,902) | 16,320) | 16,457) | 16,137) | 11,825) | 11,559) | 11,777) | 8,867) | 13,699) | 15,025) | 15,303) | ||||||
| Plant and equipment at cost, less accumulated depreciation | 5,497) | 5,290) | 5,157) | 5,021) | 4,915) | 4,649) | 4,562) | 4,463) | 4,456) | 4,345) | 4,307) | 4,343) | 4,326) | 4,298) | 4,383) | 4,405) | 4,459) | 4,605) | 4,594) | 4,493) | ||||||
| Operating lease right-of-use assets, net | 923) | 882) | 824) | 774) | 732) | 709) | 709) | 705) | 723) | 787) | 725) | 751) | 709) | 661) | 636) | 621) | 604) | 621) | 631) | 627) | ||||||
| Plant and equipment at cost, less accumulated depreciation (including operating lease, right-of-use asset) | 6,420) | 6,173) | 5,982) | 5,795) | 5,647) | 5,358) | 5,271) | 5,167) | 5,180) | 5,132) | 5,032) | 5,094) | 5,035) | 4,959) | 5,018) | 5,026) | 5,062) | 5,225) | 5,225) | 5,120) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 12.28 | 12.64 | 12.96 | 13.26 | 13.52 | 14.10 | 13.96 | 13.80 | 13.25 | 12.82 | 12.07 | 10.99 | 10.19 | 8.88 | 9.15 | 9.82 | 10.45 | 11.39 | 11.57 | 11.76 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||||||||||||||||||||||
| Costco Wholesale Corp. | 7.89 | 8.11 | 8.04 | 8.08 | 8.09 | 8.04 | 8.05 | 8.12 | 8.12 | 7.94 | 7.67 | 7.43 | 7.28 | 7.02 | 6.88 | 6.75 | — | — | — | — | ||||||
| Target Corp. | 2.95 | 2.95 | 3.02 | 3.12 | 3.19 | 3.24 | 3.33 | 3.42 | 3.45 | 3.39 | 3.37 | 3.36 | 3.21 | 3.06 | 2.92 | 2.78 | — | — | — | — | ||||||
| Walmart Inc. | 4.93 | 4.99 | 5.04 | 5.09 | 5.08 | 5.15 | 5.09 | 5.04 | 5.04 | 5.14 | 5.13 | 5.14 | 5.05 | 4.38 | 4.38 | 4.30 | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-K (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-Q (reporting date: 2021-10-02), 10-K (reporting date: 2021-07-03), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-K (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28).
1 Q4 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (SalesQ4 2024
+ SalesQ3 2024
+ SalesQ2 2024
+ SalesQ1 2024)
÷ Plant and equipment at cost, less accumulated depreciation (including operating lease, right-of-use asset)
= (20,556 + 19,380 + 19,288 + 19,620)
÷ 6,420 = 12.28
2 Click competitor name to see calculations.
- Sales
- Sales exhibited noticeable fluctuations across the presented periods. From late 2019 through the first quarter of 2020, sales declined from approximately $15.3 billion to $13.7 billion, followed by a sharp dip to around $8.9 billion in the second quarter of 2020. Subsequently, sales recovered steadily through late 2020 and into 2021, surpassing pre-decline levels by the third quarter of 2021 with figures exceeding $16 billion. The upward trajectory continued, reaching a peak near $19.1 billion by the fourth quarter of 2022. In 2023, sales maintained a generally strong level, fluctuating between $18.6 billion and $19.7 billion, with a final increase to $20.6 billion in the second quarter of 2024.
- Plant and Equipment at Cost, Less Accumulated Depreciation (Including Operating Lease, Right-of-Use Asset)
- The net value of plant and equipment showed a gradual upward trend over the entire timeframe. Starting at around $5.1 billion in late 2019, the value remained relatively stable with minor decreases through mid-2021. From mid-2021 onward, a steady increase became evident, continuing into 2024. The net fixed asset value rose from approximately $5.0 billion to $6.4 billion by the second quarter of 2024, indicating ongoing investment or capital retention in fixed assets.
- Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
- The net fixed asset turnover ratio declined from 11.76 in the third quarter of 2019 to a low of 8.88 by the first quarter of 2021, which coincides with the period of declining sales and relatively stable fixed asset values. Following this trough, the turnover ratio rebounded strongly, climbing above pre-decline levels to reach a peak of 14.1 in the first quarter of 2023. From this peak, a gradual decline trend emerged, with the ratio decreasing to 12.28 by the second quarter of 2024. This pattern suggests an initial reduction in asset efficiency during a period of reduced sales, followed by a phase of improved operational efficiency or higher asset utilization, and more recently a slight relaxation in turnover.
Total Asset Turnover
Sysco Corp., total asset turnover calculation (quarterly data)
| Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Mar 27, 2021 | Dec 26, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Sales | 20,556) | 19,380) | 19,288) | 19,620) | 19,728) | 18,876) | 18,594) | 19,127) | 18,957) | 16,902) | 16,320) | 16,457) | 16,137) | 11,825) | 11,559) | 11,777) | 8,867) | 13,699) | 15,025) | 15,303) | ||||||
| Total assets | 24,917) | 24,712) | 24,741) | 23,273) | 22,821) | 22,702) | 22,087) | 22,211) | 22,086) | 22,324) | 21,427) | 22,103) | 21,414) | 22,043) | 22,490) | 22,742) | 22,628) | 20,432) | 19,372) | 18,957) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Total asset turnover1 | 3.16 | 3.16 | 3.13 | 3.30 | 3.34 | 3.33 | 3.33 | 3.21 | 3.11 | 2.95 | 2.83 | 2.53 | 2.40 | 2.00 | 2.04 | 2.17 | 2.34 | 2.91 | 3.12 | 3.18 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| Costco Wholesale Corp. | 3.57 | 3.66 | 3.68 | 3.27 | 3.45 | 3.46 | 3.44 | 3.43 | 3.47 | 3.34 | 3.27 | 3.10 | 3.24 | 3.19 | 3.19 | 2.81 | — | — | — | — | ||||||
| Target Corp. | 1.94 | 1.90 | 2.03 | 2.10 | 2.05 | 1.95 | 2.06 | 2.10 | 1.97 | 1.90 | 1.95 | 1.94 | 1.83 | 1.75 | 1.76 | 1.79 | — | — | — | — | ||||||
| Walmart Inc. | 2.55 | 2.44 | 2.45 | 2.52 | 2.49 | 2.40 | 2.36 | 2.32 | 2.32 | 2.32 | 2.35 | 2.36 | 2.20 | 2.17 | 2.27 | 2.28 | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-K (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-Q (reporting date: 2021-10-02), 10-K (reporting date: 2021-07-03), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-K (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28).
1 Q4 2024 Calculation
Total asset turnover
= (SalesQ4 2024
+ SalesQ3 2024
+ SalesQ2 2024
+ SalesQ1 2024)
÷ Total assets
= (20,556 + 19,380 + 19,288 + 19,620)
÷ 24,917 = 3.16
2 Click competitor name to see calculations.
The financial data reveals notable fluctuations and evolving trends over the examined periods. Sales figures experienced an initial decline from late 2019 through mid-2020, reaching a low point in the quarter ending June 27, 2020. This was followed by a consistent recovery and upward trajectory, peaking in the quarter ending June 29, 2024, with the highest recorded sales in the dataset.
Total assets showed a gradual increase over the entire period, with moderate fluctuations. From September 2019 to September 2020, assets increased steadily, followed by slight declines and recoveries. The asset base expanded significantly towards the end of the period, notably in the final quarters of 2023 and first half of 2024, indicating capital growth or asset accumulation.
Total asset turnover metrics exhibit a broad pattern of decline during the initial periods, dropping from a higher turnover ratio of 3.18 in late 2019 to a trough of 2.00 in the quarter ending March 27, 2021. Subsequent quarters demonstrated a marked improvement in asset turnover efficiency, rising to around 3.34 in mid-2023. This ratio stabilized at approximately 3.16 by mid-2024. The improved asset turnover following the initial decline suggests enhanced operational efficiency or better utilization of asset resources over time.
- Sales Trends
- Sales declined sharply during the first half of 2020 but recovered steadily from late 2020 onward, surpassing previous peaks by mid-2024.
- Total Assets
- Assets gradually increased with some volatility, reflecting strategic growth possibly through acquisitions or capital investments, culminating in the highest asset base in the latest periods.
- Asset Turnover
- Initial decline in turnover ratios indicates reduced efficiency or increased asset base without proportional sales growth during early periods. The return to higher turnover ratios in recent quarters reflects improved asset deployment and operational effectiveness.
Overall, the data reflects resilience and strengthening operational performance after an initial period of decline or disruption, with growing sales supported by an expanding asset base and improved efficiency in asset utilization.
Equity Turnover
Sysco Corp., equity turnover calculation (quarterly data)
| Jun 29, 2024 | Mar 30, 2024 | Dec 30, 2023 | Sep 30, 2023 | Jul 1, 2023 | Apr 1, 2023 | Dec 31, 2022 | Oct 1, 2022 | Jul 2, 2022 | Apr 2, 2022 | Jan 1, 2022 | Oct 2, 2021 | Jul 3, 2021 | Mar 27, 2021 | Dec 26, 2020 | Sep 26, 2020 | Jun 27, 2020 | Mar 28, 2020 | Dec 28, 2019 | Sep 28, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Sales | 20,556) | 19,380) | 19,288) | 19,620) | 19,728) | 18,876) | 18,594) | 19,127) | 18,957) | 16,902) | 16,320) | 16,457) | 16,137) | 11,825) | 11,559) | 11,777) | 8,867) | 13,699) | 15,025) | 15,303) | ||||||
| Shareholders’ equity | 1,860) | 2,101) | 2,404) | 2,126) | 2,009) | 1,575) | 1,437) | 1,115) | 1,382) | 1,321) | 1,221) | 1,673) | 1,553) | 1,396) | 1,427) | 1,300) | 1,159) | 2,029) | 2,528) | 2,455) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Equity turnover1 | 42.39 | 37.13 | 32.24 | 36.14 | 38.00 | 47.96 | 51.22 | 63.93 | 49.66 | 49.81 | 49.74 | 33.45 | 33.03 | 31.55 | 32.17 | 37.97 | 45.65 | 29.33 | 23.92 | 24.52 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||
| Costco Wholesale Corp. | 10.57 | 11.43 | 11.76 | 9.22 | 9.49 | 9.80 | 10.09 | 10.56 | 10.79 | 10.69 | 10.62 | 10.78 | 10.93 | 11.10 | 11.18 | 11.40 | — | — | — | — | ||||||
| Target Corp. | 8.00 | 8.54 | 9.01 | 9.42 | 9.72 | 9.87 | 10.18 | 9.93 | 8.26 | 7.49 | 6.75 | 6.56 | 6.48 | 6.65 | 6.73 | 7.17 | — | — | — | — | ||||||
| Walmart Inc. | 7.66 | 7.97 | 7.86 | 8.52 | 7.90 | 8.23 | 7.51 | 7.42 | 6.82 | 6.89 | 6.98 | 7.13 | 6.86 | 6.69 | 7.14 | 7.78 | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-K (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-Q (reporting date: 2021-10-02), 10-K (reporting date: 2021-07-03), 10-Q (reporting date: 2021-03-27), 10-Q (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-K (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28).
1 Q4 2024 Calculation
Equity turnover
= (SalesQ4 2024
+ SalesQ3 2024
+ SalesQ2 2024
+ SalesQ1 2024)
÷ Shareholders’ equity
= (20,556 + 19,380 + 19,288 + 19,620)
÷ 1,860 = 42.39
2 Click competitor name to see calculations.
- Sales
-
Sales exhibited notable fluctuations across the periods. Initially, sales decreased from 15,303 million USD to a low of 8,867 million USD by June 2020, reflecting a sharp decline likely influenced by external factors. Subsequently, sales recovered steadily, reaching a peak of 19,127 million USD in October 2022. After this peak, sales showed some variability but generally remained strong, closing at 20,556 million USD by June 2024. This pattern indicates a significant rebound and growth over the longer term after an initial drop.
- Shareholders’ Equity
-
Shareholders’ equity demonstrated a downward trend during the early periods, declining from 2,455 million USD in September 2019 to a low of 1,159 million USD in June 2020. This was followed by a period of low and somewhat volatile equity values, fluctuating between approximately 1,100 and 1,500 million USD through late 2022. From early 2023 onward, there was a clear upward trajectory, with equity increasing steadily to reach 2,126 million USD in December 2023 before a slight decrease to 1,860 million USD by June 2024. Overall, the equity base shows recovery and growth after a substantial drop.
- Equity Turnover
-
The equity turnover ratio displayed substantial volatility throughout the periods analyzed. Starting at 24.52 in September 2019, the ratio increased sharply to a peak of 45.65 by June 2020. Following this peak, the ratio generally fluctuated, reaching a high of 63.93 in October 2022, suggesting periods of heightened asset utilization relative to equity. After this peak, the ratio declined to 32.24 by March 2024 before rising again to 42.39 in June 2024. The fluctuations indicate varying efficiency in using shareholders’ equity to generate sales, with particularly efficient periods in late 2020 and 2022.
- Summary of Trends
-
The company experienced a significant downturn in sales and equity around mid-2020, followed by a strong recovery phase. Sales rebounded robustly and consistently, exceeding pre-decline levels and continuing to grow into mid-2024. Shareholders' equity showed an initial decline but gradually regained strength, though with some fluctuations near the end of the period analyzed. The equity turnover ratio suggests periods of increased operational efficiency, particularly during and following the recovery phase, indicating the company’s improved ability to leverage equity for sales generation.