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

TJX Cos. Inc., long-term (investment) activity ratios

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	TJX Cos. Inc.’s net fixed asset turnover deteriorated from 2016 to 2017 and from 2017 to 2018.
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	TJX Cos. Inc.’s total asset turnover deteriorated from 2016 to 2017 and from 2017 to 2018.
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	TJX Cos. Inc.’s equity turnover improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.

TJX Cos. Inc., net fixed asset turnover calculation, comparison to benchmarks

		Feb 3, 2018	Jan 28, 2017	Jan 30, 2016	Jan 31, 2015	Feb 1, 2014	Feb 2, 2013
	Selected Financial Data (USD $ in thousands)
	Net sales
	Net property at cost
	Ratio
	Net fixed asset turnover¹
	Benchmarks
	Net Fixed Asset Turnover, Competitors
	Amazon.com Inc.
	Costco Wholesale Corp.
	eBay Inc.
	Home Depot Inc.
	Lowe’s Cos. Inc.
	Netflix Inc.
	Target Corp.
	Walmart Inc.
	Net Fixed Asset Turnover, Sector
	General Retailers
	Net Fixed Asset Turnover, Industry
	Consumer Services

2018 Calculations

¹ Net fixed asset turnover = Net sales ÷ Net property at cost
= hidden ÷ hidden = hidden

Ratio	Description	The company
Net fixed asset turnover	An activity ratio calculated as total revenue divided by net fixed assets.	TJX Cos. Inc.’s net fixed asset turnover deteriorated from 2016 to 2017 and from 2017 to 2018.

TJX Cos. Inc., total asset turnover calculation, comparison to benchmarks

		Feb 3, 2018	Jan 28, 2017	Jan 30, 2016	Jan 31, 2015	Feb 1, 2014	Feb 2, 2013
	Selected Financial Data (USD $ in thousands)
	Net sales
	Total assets
	Ratio
	Total asset turnover¹
	Benchmarks
	Total Asset Turnover, Competitors
	Amazon.com Inc.
	Costco Wholesale Corp.
	eBay Inc.
	Home Depot Inc.
	Lowe’s Cos. Inc.
	Netflix Inc.
	Target Corp.
	Walmart Inc.
	Total Asset Turnover, Sector
	General Retailers
	Total Asset Turnover, Industry
	Consumer Services

2018 Calculations

¹ Total asset turnover = Net sales ÷ Total assets
= hidden ÷ hidden = hidden

Ratio	Description	The company
Total asset turnover	An activity ratio calculated as total revenue divided by total assets.	TJX Cos. Inc.’s total asset turnover deteriorated from 2016 to 2017 and from 2017 to 2018.

TJX Cos. Inc., equity turnover calculation, comparison to benchmarks

		Feb 3, 2018	Jan 28, 2017	Jan 30, 2016	Jan 31, 2015	Feb 1, 2014	Feb 2, 2013
	Selected Financial Data (USD $ in thousands)
	Net sales
	Shareholders’ equity
	Ratio
	Equity turnover¹
	Benchmarks
	Equity Turnover, Competitors
	Amazon.com Inc.
	Costco Wholesale Corp.
	eBay Inc.
	Home Depot Inc.
	Lowe’s Cos. Inc.
	Netflix Inc.
	Target Corp.
	Walmart Inc.
	Equity Turnover, Sector
	General Retailers
	Equity Turnover, Industry
	Consumer Services

2018 Calculations

¹ Equity turnover = Net sales ÷ Shareholders’ equity
= hidden ÷ hidden = hidden

Ratio	Description	The company
Equity turnover	An activity ratio calculated as total revenue divided by shareholders’ equity.	TJX Cos. Inc.’s equity turnover improved from 2016 to 2017 but then deteriorated significantly from 2017 to 2018.

	TJX Cos. 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

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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

TJX Cos. Inc. (TJX)

Long-term (Investment) Activity Analysis