Stock Analysis on Net

TJX Cos. Inc. (NYSE:TJX)

This company has been moved to the archive! The financial data has not been updated since May 27, 2022.

Analysis of Short-term (Operating) Activity Ratios 

Microsoft Excel

Short-term Activity Ratios (Summary)

TJX Cos. Inc., short-term (operating) activity ratios

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Turnover Ratios
Inventory turnover 5.82 5.66 6.13 6.08 6.09 6.47
Receivables turnover 93.79 69.69 108.00 112.54 109.62 128.21
Payables turnover 7.77 5.09 11.17 10.53 10.25 10.56
Working capital turnover 17.40 6.51 23.97 13.27 10.67 11.09
Average No. Days
Average inventory processing period 63 65 60 60 60 56
Add: Average receivable collection period 4 5 3 3 3 3
Operating cycle 67 70 63 63 63 59
Less: Average payables payment period 47 72 33 35 36 35
Cash conversion cycle 20 -2 30 28 27 24

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. TJX Cos. Inc. inventory turnover ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Receivables turnover An activity ratio equal to revenue divided by receivables. TJX Cos. Inc. receivables turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. TJX Cos. Inc. payables turnover ratio decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.
Working capital turnover An activity ratio calculated as revenue divided by working capital. TJX Cos. Inc. working capital turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. TJX Cos. Inc. number of days of inventory outstanding deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period. TJX Cos. Inc. operating cycle deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. TJX Cos. Inc. number of days of payables outstanding increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. TJX Cos. Inc. cash conversion cycle improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Inventory Turnover

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

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Selected Financial Data (US$ in thousands)
Cost of sales, including buying and occupancy costs 34,713,812  24,533,815  29,845,780  27,831,177  25,502,167  23,565,754 
Merchandise inventories 5,961,573  4,337,389  4,872,592  4,579,033  4,187,243  3,644,959 
Short-term Activity Ratio
Inventory turnover1 5.82 5.66 6.13 6.08 6.09 6.47
Benchmarks
Inventory Turnover, Competitors2
Amazon.com Inc. 8.34 9.80 8.08 8.10 6.98
GameStop Corp. 5.10 6.36 5.30 4.78 4.53 4.99
Home Depot Inc. 4.55 5.25 5.00 5.10 5.22 4.96
Lowe’s Cos. Inc. 3.65 3.71 3.73 3.85 3.97 4.07
Target Corp. 5.39 6.21 6.10 5.61 5.91 5.88
Inventory Turnover, Sector
Retailing 6.53 6.87 6.22 6.29 5.86
Inventory Turnover, Industry
Consumer Discretionary 6.99 7.43 7.62 7.92 7.58

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

1 2022 Calculation
Inventory turnover = Cost of sales, including buying and occupancy costs ÷ Merchandise inventories
= 34,713,812 ÷ 5,961,573 = 5.82

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. TJX Cos. Inc. inventory turnover ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

Receivables Turnover

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

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Selected Financial Data (US$ in thousands)
Net sales 48,549,982  32,136,962  41,716,977  38,972,934  35,864,664  33,183,744 
Accounts receivable, net 517,623  461,139  386,261  346,298  327,166  258,831 
Short-term Activity Ratio
Receivables turnover1 93.79 69.69 108.00 112.54 109.62 128.21
Benchmarks
Receivables Turnover, Competitors2
Amazon.com Inc. 17.73 19.32 15.88 17.50 18.35
Booking Holdings Inc. 8.07 12.85 8.97 9.54 10.41
GameStop Corp. 42.60 48.34 45.57 61.74 50.49 38.97
Home Depot Inc. 44.12 44.15 52.34 55.89 51.69 46.62
Lowe’s Cos. Inc.
Target Corp. 125.28 146.43 154.88 117.77 140.12 190.92
Receivables Turnover, Sector
Retailing 25.33 28.33 25.30 28.49 31.67
Receivables Turnover, Industry
Consumer Discretionary 19.72 20.12 20.00 20.64 20.34

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

1 2022 Calculation
Receivables turnover = Net sales ÷ Accounts receivable, net
= 48,549,982 ÷ 517,623 = 93.79

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. TJX Cos. Inc. receivables turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level.

Payables Turnover

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

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Selected Financial Data (US$ in thousands)
Cost of sales, including buying and occupancy costs 34,713,812  24,533,815  29,845,780  27,831,177  25,502,167  23,565,754 
Accounts payable 4,465,427  4,823,397  2,672,557  2,644,143  2,488,373  2,230,904 
Short-term Activity Ratio
Payables turnover1 7.77 5.09 11.17 10.53 10.25 10.56
Benchmarks
Payables Turnover, Competitors2
Amazon.com Inc. 3.46 3.22 3.51 3.64 3.23
Booking Holdings Inc. 6.91 9.25 12.16 12.81 19.00
GameStop Corp. 9.90 11.21 11.97 5.68 6.86 9.08
Home Depot Inc. 7.45 7.52 9.33 9.16 9.19 8.90
Lowe’s Cos. Inc. 5.65 5.51 6.42 5.85 6.86 6.40
Target Corp. 4.84 5.15 5.53 5.46 5.89 6.74
Payables Turnover, Sector
Retailing 4.32 4.26 4.77 5.14 5.00
Payables Turnover, Industry
Consumer Discretionary 4.66 4.69 5.44 5.67 5.37

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

1 2022 Calculation
Payables turnover = Cost of sales, including buying and occupancy costs ÷ Accounts payable
= 34,713,812 ÷ 4,465,427 = 7.77

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. TJX Cos. Inc. payables turnover ratio decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.

Working Capital Turnover

TJX Cos. Inc., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Selected Financial Data (US$ in thousands)
Current assets 13,258,597  15,739,337  8,890,622  8,469,222  8,485,727  7,750,774 
Less: Current liabilities 10,468,140  10,803,668  7,150,247  5,531,374  5,125,537  4,757,656 
Working capital 2,790,457  4,935,669  1,740,375  2,937,848  3,360,190  2,993,118 
 
Net sales 48,549,982  32,136,962  41,716,977  38,972,934  35,864,664  33,183,744 
Short-term Activity Ratio
Working capital turnover1 17.40 6.51 23.97 13.27 10.67 11.09
Benchmarks
Working Capital Turnover, Competitors2
Amazon.com Inc. 24.33 60.82 32.92 34.71 76.87
Booking Holdings Inc. 1.59 0.77 3.37 2.99 2.29
GameStop Corp. 4.83 24.41 16.33 8.75 14.80 22.70
Home Depot Inc. 417.56 24.87 76.81 59.68 36.84 26.34
Lowe’s Cos. Inc. 245.54 24.92 530.50 101.51 2,500.65
Target Corp. 146.43
Working Capital Turnover, Sector
Retailing 22.25 42.47 42.96 33.28 38.48
Working Capital Turnover, Industry
Consumer Discretionary 13.04 15.65 44.06 25.15 26.81

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

1 2022 Calculation
Working capital turnover = Net sales ÷ Working capital
= 48,549,982 ÷ 2,790,457 = 17.40

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. TJX Cos. Inc. working capital turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 not reaching 2020 level.

Average Inventory Processing Period

TJX Cos. Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Selected Financial Data
Inventory turnover 5.82 5.66 6.13 6.08 6.09 6.47
Short-term Activity Ratio (no. days)
Average inventory processing period1 63 65 60 60 60 56
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Amazon.com Inc. 44 37 45 45 52
GameStop Corp. 72 57 69 76 81 73
Home Depot Inc. 80 70 73 72 70 74
Lowe’s Cos. Inc. 100 98 98 95 92 90
Target Corp. 68 59 60 65 62 62
Average Inventory Processing Period, Sector
Retailing 56 53 59 58 62
Average Inventory Processing Period, Industry
Consumer Discretionary 52 49 48 46 48

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

1 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.82 = 63

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. TJX Cos. Inc. number of days of inventory outstanding deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

Average Receivable Collection Period

TJX Cos. Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Selected Financial Data
Receivables turnover 93.79 69.69 108.00 112.54 109.62 128.21
Short-term Activity Ratio (no. days)
Average receivable collection period1 4 5 3 3 3 3
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Amazon.com Inc. 21 19 23 21 20
Booking Holdings Inc. 45 28 41 38 35
GameStop Corp. 9 8 8 6 7 9
Home Depot Inc. 8 8 7 7 7 8
Lowe’s Cos. Inc.
Target Corp. 3 2 2 3 3 2
Average Receivable Collection Period, Sector
Retailing 14 13 14 13 12
Average Receivable Collection Period, Industry
Consumer Discretionary 19 18 18 18 18

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

1 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 93.79 = 4

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

TJX Cos. Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Selected Financial Data
Average inventory processing period 63 65 60 60 60 56
Average receivable collection period 4 5 3 3 3 3
Short-term Activity Ratio
Operating cycle1 67 70 63 63 63 59
Benchmarks
Operating Cycle, Competitors2
Amazon.com Inc. 65 56 68 66 72
GameStop Corp. 81 65 77 82 88 82
Home Depot Inc. 88 78 80 79 77 82
Lowe’s Cos. Inc.
Target Corp. 71 61 62 68 65 64
Operating Cycle, Sector
Retailing 70 66 73 71 74
Operating Cycle, Industry
Consumer Discretionary 71 67 66 64 66

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

1 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 63 + 4 = 67

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. TJX Cos. Inc. operating cycle deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

Average Payables Payment Period

TJX Cos. Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Selected Financial Data
Payables turnover 7.77 5.09 11.17 10.53 10.25 10.56
Short-term Activity Ratio (no. days)
Average payables payment period1 47 72 33 35 36 35
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Amazon.com Inc. 105 113 104 100 113
Booking Holdings Inc. 53 39 30 28 19
GameStop Corp. 37 33 30 64 53 40
Home Depot Inc. 49 49 39 40 40 41
Lowe’s Cos. Inc. 65 66 57 62 53 57
Target Corp. 75 71 66 67 62 54
Average Payables Payment Period, Sector
Retailing 85 86 76 71 73
Average Payables Payment Period, Industry
Consumer Discretionary 78 78 67 64 68

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

1 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 7.77 = 47

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. TJX Cos. Inc. number of days of payables outstanding increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.

Cash Conversion Cycle

TJX Cos. Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Jan 29, 2022 Jan 30, 2021 Feb 1, 2020 Feb 2, 2019 Feb 3, 2018 Jan 28, 2017
Selected Financial Data
Average inventory processing period 63 65 60 60 60 56
Average receivable collection period 4 5 3 3 3 3
Average payables payment period 47 72 33 35 36 35
Short-term Activity Ratio
Cash conversion cycle1 20 -2 30 28 27 24
Benchmarks
Cash Conversion Cycle, Competitors2
Amazon.com Inc. -40 -57 -36 -34 -41
GameStop Corp. 44 32 47 18 35 42
Home Depot Inc. 39 29 41 39 37 41
Lowe’s Cos. Inc.
Target Corp. -4 -10 -4 1 3 10
Cash Conversion Cycle, Sector
Retailing -15 -20 -3 0 1
Cash Conversion Cycle, Industry
Consumer Discretionary -7 -11 -1 0 -2

Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).

1 2022 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 63 + 447 = 20

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. TJX Cos. Inc. cash conversion cycle improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.