Analysis of Short-term (Operating) 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.
Short-term Activity Ratios (Summary)
TJX Cos. Inc., short-term (operating) activity ratios (quarterly data)
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | TJX Cos. Inc.’s inventory turnover ratio improved from Q1 2021 to Q2 2021 but then deteriorated significantly from Q2 2021 to Q3 2021. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | TJX Cos. Inc.’s receivables turnover ratio deteriorated from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | TJX Cos. Inc.’s payables turnover ratio decreased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | TJX Cos. Inc.’s working capital turnover ratio improved from Q1 2021 to Q2 2021 but then slightly deteriorated from Q2 2021 to Q3 2021 not reaching Q1 2021 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.’s number of days of inventory outstanding improved from Q1 2021 to Q2 2021 but then deteriorated significantly from Q2 2021 to Q3 2021. |
| 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.’s operating cycle improved from Q1 2021 to Q2 2021 but then deteriorated significantly from Q2 2021 to Q3 2021. |
| 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.’s number of days of payables outstanding increased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021. |
| 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.’s cash conversion cycle improved from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021. |
Inventory Turnover
TJX Cos. Inc., inventory turnover calculation (quarterly data)
| Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | Jan 30, 2016 | Oct 31, 2015 | Aug 1, 2015 | May 2, 2015 | Jan 31, 2015 | Nov 1, 2014 | Aug 2, 2014 | May 3, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Cost of sales, including buying and occupancy costs | 7,062,285 | 5,174,490 | 4,414,465 | 8,741,805 | 7,440,033 | 7,026,057 | 6,637,885 | 8,033,640 | 6,983,483 | 6,635,815 | 6,178,239 | 7,849,400 | 6,150,020 | 5,972,675 | 5,530,072 | 6,786,777 | 5,843,873 | 5,562,961 | 5,372,143 | 6,388,192 | 5,506,899 | 5,219,191 | 4,920,241 | 5,959,037 | 5,203,629 | 4,935,856 | 4,678,000 | ||||||||
| Merchandise inventories | 4,997,506 | 3,744,062 | 4,945,720 | 4,872,592 | 6,274,778 | 5,087,046 | 5,057,202 | 4,579,033 | 5,543,413 | 4,498,523 | 4,369,893 | 4,187,243 | 4,725,850 | 3,864,454 | 3,736,114 | 3,644,959 | 4,384,171 | 3,870,605 | 3,904,989 | 3,695,113 | 4,441,989 | 3,749,636 | 3,531,600 | 3,217,923 | 3,958,648 | 3,388,182 | 3,208,460 | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Inventory turnover1 | 5.08 | 6.88 | 5.59 | 6.13 | 4.64 | 5.64 | 5.59 | 6.08 | 4.99 | 5.96 | 5.98 | 6.09 | 5.17 | 6.24 | 6.35 | 6.47 | 5.28 | 5.90 | 5.76 | 5.96 | 4.86 | 5.68 | 5.95 | 6.46 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
| Amazon.com Inc. | — | — | — | 9.80 | 8.76 | 9.81 | 9.33 | 8.08 | 8.33 | 7.97 | 8.66 | 8.10 | 8.38 | 8.59 | 8.69 | 6.98 | 7.47 | 8.35 | 8.66 | 7.70 | — | — | — | — | — | — | — | ||||||||
| Costco Wholesale Corp. | — | — | 10.08 | 11.84 | 12.70 | 11.63 | 9.73 | 11.66 | 11.52 | 11.28 | 10.34 | 11.16 | 11.40 | 11.06 | 10.27 | 11.38 | 10.97 | 11.02 | 9.66 | 11.47 | 11.46 | 11.44 | 9.76 | 11.35 | — | — | — | ||||||||
| Dollar General Corp. | 4.42 | 4.90 | 4.99 | 4.12 | 4.22 | 4.20 | 4.43 | 4.35 | 4.37 | 4.37 | 4.62 | 4.50 | 4.50 | 4.56 | 4.69 | 4.67 | 4.21 | 4.43 | 4.65 | 4.57 | 4.46 | 4.49 | 4.71 | 4.71 | — | — | — | ||||||||
| Home Depot Inc. | 5.13 | 5.83 | 4.93 | 5.00 | 4.65 | 4.91 | 4.65 | 5.10 | 4.70 | 4.88 | 4.65 | 5.22 | 4.87 | 4.98 | 4.63 | 4.96 | 4.64 | 4.92 | 4.50 | 4.93 | 4.55 | 4.72 | 4.48 | 4.89 | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 3.64 | 3.90 | 3.52 | 3.73 | 3.57 | 3.58 | 3.26 | 3.85 | 3.88 | 3.95 | 3.47 | 3.97 | 3.65 | 3.91 | 3.57 | 4.07 | 3.72 | 3.76 | 3.55 | 4.07 | 3.65 | 3.88 | 3.50 | 4.11 | — | — | — | ||||||||
| Target Corp. | 4.94 | 6.78 | 6.65 | 6.10 | 4.80 | 5.95 | 5.95 | 5.61 | 4.30 | 5.75 | 5.97 | 5.91 | 4.66 | 5.95 | 6.11 | 5.88 | 4.91 | 5.83 | 6.06 | 6.05 | 5.01 | 6.25 | 5.97 | 5.83 | — | — | — | ||||||||
| Walmart Inc. | 7.96 | 9.94 | 9.79 | 8.88 | 7.60 | 8.81 | 8.64 | 8.70 | 7.60 | 9.09 | 8.72 | 8.53 | 7.35 | 8.39 | 8.36 | 8.39 | 7.24 | 8.30 | 8.11 | 8.12 | 7.16 | 8.11 | 7.88 | 8.09 | — | — | — | ||||||||
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
1 Q3 2021 Calculation
Inventory turnover
= (Cost of sales, including buying and occupancy costsQ3 2021
+ Cost of sales, including buying and occupancy costsQ2 2021
+ Cost of sales, including buying and occupancy costsQ1 2021
+ Cost of sales, including buying and occupancy costsQ4 2020)
÷ Merchandise inventories
= (7,062,285 + 5,174,490 + 4,414,465 + 8,741,805)
÷ 4,997,506 = 5.08
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.’s inventory turnover ratio improved from Q1 2021 to Q2 2021 but then deteriorated significantly from Q2 2021 to Q3 2021. |
Receivables Turnover
TJX Cos. Inc., receivables turnover calculation (quarterly data)
| Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | Jan 30, 2016 | Oct 31, 2015 | Aug 1, 2015 | May 2, 2015 | Jan 31, 2015 | Nov 1, 2014 | Aug 2, 2014 | May 3, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Net sales | 10,117,289 | 6,667,575 | 4,408,888 | 12,206,462 | 10,451,334 | 9,781,596 | 9,277,585 | 11,127,340 | 9,825,759 | 9,331,115 | 8,688,720 | 10,960,720 | 8,762,220 | 8,357,700 | 7,784,024 | 9,467,647 | 8,291,688 | 7,882,053 | 7,542,356 | 8,962,075 | 7,753,495 | 7,363,731 | 6,865,637 | 8,303,953 | 7,366,066 | 6,917,212 | 6,491,176 | ||||||||
| Accounts receivable, net | 463,732 | 444,229 | 172,463 | 386,261 | 442,883 | 377,057 | 393,276 | 346,298 | 419,790 | 356,180 | 368,314 | 327,166 | 345,866 | 305,401 | 317,224 | 258,831 | 306,426 | 288,777 | 281,631 | 238,072 | 273,856 | 260,952 | 263,466 | 213,824 | 260,940 | 242,549 | 255,775 | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Receivables turnover1 | 72.02 | 75.94 | 213.66 | 108.00 | 91.76 | 106.12 | 100.60 | 112.54 | 92.44 | 105.97 | 99.83 | 109.62 | 99.38 | 111.01 | 105.37 | 128.21 | 106.64 | 111.30 | 112.28 | 129.98 | 110.59 | 114.58 | 111.79 | 135.99 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 102.87 | 105.30 | 104.44 | 77.92 | 88.41 | 97.30 | 85.87 | 72.17 | 78.90 | 82.94 | 85.61 | 66.45 | 83.27 | 88.11 | 82.45 | 74.19 | 78.05 | 92.71 | 88.72 | 78.94 | 83.89 | 92.86 | — | — | — | ||||||||
| Dollar General Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 47.12 | 46.57 | 42.95 | 52.34 | 49.72 | 48.38 | 47.32 | 55.89 | 48.64 | 48.21 | 44.41 | 51.69 | 45.81 | 44.52 | 44.23 | 46.62 | 46.80 | 46.13 | 45.44 | 46.84 | 44.65 | 50.35 | 45.88 | 56.05 | — | — | — | ||||||||
| Walmart Inc. | 94.43 | 105.28 | 105.52 | 82.74 | 92.13 | 95.50 | 95.78 | 81.22 | 87.77 | 101.15 | 109.65 | 88.31 | 83.61 | 89.97 | 91.94 | 82.49 | 89.87 | 90.93 | 92.46 | 85.10 | 95.89 | 91.39 | 82.93 | 71.15 | — | — | — | ||||||||
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
1 Q3 2021 Calculation
Receivables turnover
= (Net salesQ3 2021
+ Net salesQ2 2021
+ Net salesQ1 2021
+ Net salesQ4 2020)
÷ Accounts receivable, net
= (10,117,289 + 6,667,575 + 4,408,888 + 12,206,462)
÷ 463,732 = 72.02
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.’s receivables turnover ratio deteriorated from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021. |
Payables Turnover
TJX Cos. Inc., payables turnover calculation (quarterly data)
| Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | Jan 30, 2016 | Oct 31, 2015 | Aug 1, 2015 | May 2, 2015 | Jan 31, 2015 | Nov 1, 2014 | Aug 2, 2014 | May 3, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Cost of sales, including buying and occupancy costs | 7,062,285 | 5,174,490 | 4,414,465 | 8,741,805 | 7,440,033 | 7,026,057 | 6,637,885 | 8,033,640 | 6,983,483 | 6,635,815 | 6,178,239 | 7,849,400 | 6,150,020 | 5,972,675 | 5,530,072 | 6,786,777 | 5,843,873 | 5,562,961 | 5,372,143 | 6,388,192 | 5,506,899 | 5,219,191 | 4,920,241 | 5,959,037 | 5,203,629 | 4,935,856 | 4,678,000 | ||||||||
| Accounts payable | 6,142,547 | 2,422,140 | 1,071,190 | 2,672,557 | 3,447,443 | 2,607,651 | 2,578,370 | 2,644,143 | 3,340,596 | 2,683,285 | 2,509,089 | 2,488,373 | 2,986,374 | 2,346,548 | 2,174,727 | 2,230,904 | 2,686,845 | 2,258,251 | 2,136,751 | 2,203,050 | 2,696,601 | 2,258,997 | 2,153,296 | 2,007,511 | 2,554,416 | 2,148,432 | 1,956,384 | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Payables turnover1 | 4.13 | 10.64 | 25.79 | 11.17 | 8.45 | 11.00 | 10.97 | 10.53 | 8.28 | 9.99 | 10.42 | 10.25 | 8.18 | 10.28 | 10.91 | 10.56 | 8.62 | 10.11 | 10.52 | 10.00 | 8.01 | 9.43 | 9.76 | 10.35 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
| Amazon.com Inc. | — | — | — | 3.22 | 3.57 | 3.77 | 4.39 | 3.51 | 4.37 | 4.11 | 4.47 | 3.64 | 4.30 | 4.61 | 4.78 | 3.23 | 3.93 | 4.48 | 4.86 | 3.49 | — | — | — | — | — | — | — | ||||||||
| Costco Wholesale Corp. | — | — | 8.83 | 10.23 | 12.93 | 12.45 | 9.31 | 11.38 | 11.49 | 11.96 | 9.61 | 10.96 | 11.32 | 11.73 | 9.61 | 11.64 | 11.34 | 11.98 | 9.41 | 13.52 | 11.59 | 12.39 | 9.76 | 11.22 | — | — | — | ||||||||
| Dollar General Corp. | 5.90 | 6.33 | 6.94 | 6.73 | 6.67 | 6.80 | 7.42 | 7.47 | 7.45 | 7.42 | 8.22 | 8.09 | 8.19 | 8.40 | 9.53 | 9.76 | 7.55 | 8.43 | 9.88 | 9.41 | 9.41 | 8.85 | 9.31 | 9.44 | — | — | — | ||||||||
| Home Depot Inc. | 6.42 | 6.73 | 7.35 | 9.33 | 7.91 | 7.62 | 6.99 | 9.16 | 7.66 | 7.29 | 6.90 | 9.19 | 7.63 | 7.51 | 6.90 | 8.90 | 7.63 | 7.32 | 6.83 | 8.87 | 7.86 | 7.46 | 6.83 | 9.34 | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 4.48 | 4.18 | 4.63 | 6.42 | 5.54 | 5.18 | 4.26 | 5.85 | 5.16 | 5.22 | 4.53 | 6.86 | 5.09 | 5.15 | 4.41 | 6.40 | 5.21 | 5.18 | 4.45 | 6.84 | 5.18 | 5.28 | 4.63 | 7.16 | — | — | — | ||||||||
| Target Corp. | 4.42 | 5.61 | 5.94 | 5.53 | 4.86 | 5.93 | 6.45 | 5.46 | 4.45 | 5.75 | 6.35 | 5.89 | 4.94 | 6.48 | 7.47 | 6.74 | 5.98 | 7.39 | 8.02 | 7.01 | 5.84 | 7.44 | 7.57 | 6.61 | — | — | — | ||||||||
| Walmart Inc. | 7.62 | 8.81 | 9.15 | 8.40 | 7.87 | 8.48 | 8.57 | 8.19 | 7.70 | 8.84 | 8.46 | 8.10 | 7.74 | 8.60 | 8.76 | 8.72 | 8.39 | 9.03 | 9.50 | 9.38 | 8.95 | 9.80 | 9.80 | 9.50 | — | — | — | ||||||||
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
1 Q3 2021 Calculation
Payables turnover
= (Cost of sales, including buying and occupancy costsQ3 2021
+ Cost of sales, including buying and occupancy costsQ2 2021
+ Cost of sales, including buying and occupancy costsQ1 2021
+ Cost of sales, including buying and occupancy costsQ4 2020)
÷ Accounts payable
= (7,062,285 + 5,174,490 + 4,414,465 + 8,741,805)
÷ 6,142,547 = 4.13
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.’s payables turnover ratio decreased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021. |
Working Capital Turnover
TJX Cos. Inc., working capital turnover calculation (quarterly data)
| Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | Jan 30, 2016 | Oct 31, 2015 | Aug 1, 2015 | May 2, 2015 | Jan 31, 2015 | Nov 1, 2014 | Aug 2, 2014 | May 3, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Current assets | 16,653,906 | 11,517,947 | 10,296,248 | 8,890,622 | 9,374,615 | 8,268,604 | 8,067,212 | 8,469,222 | 9,317,013 | 8,439,972 | 8,422,275 | 8,485,727 | 8,390,034 | 7,567,781 | 7,548,500 | 7,750,774 | 7,942,334 | 6,810,674 | 6,877,701 | 6,772,560 | 7,348,157 | 6,796,837 | 6,872,089 | 6,715,061 | 7,154,622 | 6,593,763 | 6,235,550 | ||||||||
| Less: Current liabilities | 11,817,194 | 7,647,251 | 4,669,547 | 7,150,247 | 7,687,144 | 6,600,741 | 6,581,019 | 5,531,374 | 6,013,825 | 5,137,817 | 4,976,864 | 5,125,537 | 5,467,981 | 4,656,533 | 4,605,392 | 4,757,656 | 4,894,514 | 4,314,205 | 4,296,735 | 4,402,230 | 4,730,078 | 4,160,861 | 4,136,536 | 3,929,634 | 4,389,582 | 3,824,929 | 3,705,260 | ||||||||
| Working capital | 4,836,712 | 3,870,696 | 5,626,701 | 1,740,375 | 1,687,471 | 1,667,863 | 1,486,193 | 2,937,848 | 3,303,188 | 3,302,155 | 3,445,411 | 3,360,190 | 2,922,053 | 2,911,248 | 2,943,108 | 2,993,118 | 3,047,820 | 2,496,469 | 2,580,966 | 2,370,330 | 2,618,079 | 2,635,976 | 2,735,553 | 2,785,427 | 2,765,040 | 2,768,834 | 2,530,290 | ||||||||
| Net sales | 10,117,289 | 6,667,575 | 4,408,888 | 12,206,462 | 10,451,334 | 9,781,596 | 9,277,585 | 11,127,340 | 9,825,759 | 9,331,115 | 8,688,720 | 10,960,720 | 8,762,220 | 8,357,700 | 7,784,024 | 9,467,647 | 8,291,688 | 7,882,053 | 7,542,356 | 8,962,075 | 7,753,495 | 7,363,731 | 6,865,637 | 8,303,953 | 7,366,066 | 6,917,212 | 6,491,176 | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Working capital turnover1 | 6.91 | 8.72 | 6.55 | 23.97 | 24.08 | 23.99 | 26.62 | 13.27 | 11.75 | 11.43 | 10.67 | 10.67 | 11.76 | 11.64 | 11.36 | 11.09 | 10.72 | 12.87 | 12.25 | 13.06 | 11.57 | 11.34 | 10.77 | 10.44 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
| Amazon.com Inc. | — | — | — | 60.82 | 31.47 | 18.92 | 47.22 | 32.92 | 38.37 | 35.44 | 42.11 | 34.71 | 48.44 | 56.56 | 69.39 | 76.87 | 107.01 | 308.26 | 69.18 | 69.20 | — | — | — | — | — | — | — | ||||||||
| Costco Wholesale Corp. | — | — | — | 49.82 | 63.59 | 153.67 | 400.20 | 602.22 | — | — | 294.44 | 381.36 | 483.61 | — | — | — | — | — | — | — | — | 1,194.83 | 201.79 | 149.76 | — | — | — | ||||||||
| Dollar General Corp. | 19.72 | 14.31 | 13.76 | 43.75 | 48.44 | 43.95 | 41.68 | 15.56 | 15.23 | 15.35 | 14.61 | 18.29 | 19.21 | 19.41 | 21.13 | 20.84 | 21.08 | 21.25 | 14.13 | 14.18 | 13.37 | 15.49 | 16.47 | 12.24 | — | — | — | ||||||||
| Home Depot Inc. | 13.79 | 16.66 | 28.53 | 76.81 | 68.95 | 57.87 | 124.59 | 59.68 | 65.46 | 43.91 | 33.09 | 36.84 | 26.96 | 20.77 | 27.68 | 26.34 | 18.99 | 20.84 | 23.41 | 19.82 | 32.97 | 27.27 | 85.23 | 20.62 | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 11.60 | 12.67 | 20.57 | 530.50 | 119.81 | 74.71 | 46.13 | — | 1,031.26 | 78.17 | 266.87 | 101.51 | 254.28 | 166.37 | 112.95 | 2,500.65 | 657.58 | 363.64 | 25.59 | 856.14 | 250.55 | — | — | 76.81 | — | — | — | ||||||||
| Target Corp. | 91.95 | 48.30 | 389.66 | — | — | — | — | — | — | — | — | — | — | — | — | — | 352.16 | 143.21 | 37.77 | 48.93 | 54.91 | 42.15 | 28.66 | 30.89 | — | — | — | ||||||||
| Walmart Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
1 Q3 2021 Calculation
Working capital turnover
= (Net salesQ3 2021
+ Net salesQ2 2021
+ Net salesQ1 2021
+ Net salesQ4 2020)
÷ Working capital
= (10,117,289 + 6,667,575 + 4,408,888 + 12,206,462)
÷ 4,836,712 = 6.91
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.’s working capital turnover ratio improved from Q1 2021 to Q2 2021 but then slightly deteriorated from Q2 2021 to Q3 2021 not reaching Q1 2021 level. |
Average Inventory Processing Period
TJX Cos. Inc., average inventory processing period calculation (quarterly data)
| Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | Jan 30, 2016 | Oct 31, 2015 | Aug 1, 2015 | May 2, 2015 | Jan 31, 2015 | Nov 1, 2014 | Aug 2, 2014 | May 3, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||||||
| Inventory turnover | 5.08 | 6.88 | 5.59 | 6.13 | 4.64 | 5.64 | 5.59 | 6.08 | 4.99 | 5.96 | 5.98 | 6.09 | 5.17 | 6.24 | 6.35 | 6.47 | 5.28 | 5.90 | 5.76 | 5.96 | 4.86 | 5.68 | 5.95 | 6.46 | — | — | — | ||||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||||||
| Average inventory processing period1 | 72 | 53 | 65 | 60 | 79 | 65 | 65 | 60 | 73 | 61 | 61 | 60 | 71 | 58 | 57 | 56 | 69 | 62 | 63 | 61 | 75 | 64 | 61 | 57 | — | — | — | ||||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | |||||||||||||||||||||||||||||||||||
| Amazon.com Inc. | — | — | — | 37 | 42 | 37 | 39 | 45 | 44 | 46 | 42 | 45 | 44 | 42 | 42 | 52 | 49 | 44 | 42 | 47 | — | — | — | — | — | — | — | ||||||||
| Costco Wholesale Corp. | — | — | 36 | 31 | 29 | 31 | 37 | 31 | 32 | 32 | 35 | 33 | 32 | 33 | 36 | 32 | 33 | 33 | 38 | 32 | 32 | 32 | 37 | 32 | — | — | — | ||||||||
| Dollar General Corp. | 83 | 74 | 73 | 89 | 87 | 87 | 82 | 84 | 83 | 84 | 79 | 81 | 81 | 80 | 78 | 78 | 87 | 82 | 78 | 80 | 82 | 81 | 78 | 77 | — | — | — | ||||||||
| Home Depot Inc. | 71 | 63 | 74 | 73 | 78 | 74 | 78 | 72 | 78 | 75 | 78 | 70 | 75 | 73 | 79 | 74 | 79 | 74 | 81 | 74 | 80 | 77 | 81 | 75 | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 100 | 94 | 104 | 98 | 102 | 102 | 112 | 95 | 94 | 92 | 105 | 92 | 100 | 93 | 102 | 90 | 98 | 97 | 103 | 90 | 100 | 94 | 104 | 89 | — | — | — | ||||||||
| Target Corp. | 74 | 54 | 55 | 60 | 76 | 61 | 61 | 65 | 85 | 63 | 61 | 62 | 78 | 61 | 60 | 62 | 74 | 63 | 60 | 60 | 73 | 58 | 61 | 63 | — | — | — | ||||||||
| Walmart Inc. | 46 | 37 | 37 | 41 | 48 | 41 | 42 | 42 | 48 | 40 | 42 | 43 | 50 | 44 | 44 | 43 | 50 | 44 | 45 | 45 | 51 | 45 | 46 | 45 | — | — | — | ||||||||
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
1 Q3 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.08 = 72
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.’s number of days of inventory outstanding improved from Q1 2021 to Q2 2021 but then deteriorated significantly from Q2 2021 to Q3 2021. |
Average Receivable Collection Period
TJX Cos. Inc., average receivable collection period calculation (quarterly data)
| Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | Jan 30, 2016 | Oct 31, 2015 | Aug 1, 2015 | May 2, 2015 | Jan 31, 2015 | Nov 1, 2014 | Aug 2, 2014 | May 3, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||||||
| Receivables turnover | 72.02 | 75.94 | 213.66 | 108.00 | 91.76 | 106.12 | 100.60 | 112.54 | 92.44 | 105.97 | 99.83 | 109.62 | 99.38 | 111.01 | 105.37 | 128.21 | 106.64 | 111.30 | 112.28 | 129.98 | 110.59 | 114.58 | 111.79 | 135.99 | — | — | — | ||||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||||||
| Average receivable collection period1 | 5 | 5 | 2 | 3 | 4 | 3 | 4 | 3 | 4 | 3 | 4 | 3 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | — | — | — | ||||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 4 | 3 | 3 | 5 | 4 | 4 | 4 | 5 | 5 | 4 | 4 | 5 | 4 | 4 | 4 | 5 | 5 | 4 | 4 | 5 | 4 | 4 | — | — | — | ||||||||
| Dollar General Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 8 | 8 | 8 | 7 | 7 | 8 | 8 | 7 | 8 | 8 | 8 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 7 | 8 | 7 | — | — | — | ||||||||
| Walmart Inc. | 4 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | — | — | — | ||||||||
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
1 Q3 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 72.02 = 5
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 (quarterly data)
No. days
| Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | Jan 30, 2016 | Oct 31, 2015 | Aug 1, 2015 | May 2, 2015 | Jan 31, 2015 | Nov 1, 2014 | Aug 2, 2014 | May 3, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||||||
| Average inventory processing period | 72 | 53 | 65 | 60 | 79 | 65 | 65 | 60 | 73 | 61 | 61 | 60 | 71 | 58 | 57 | 56 | 69 | 62 | 63 | 61 | 75 | 64 | 61 | 57 | — | — | — | ||||||||
| Average receivable collection period | 5 | 5 | 2 | 3 | 4 | 3 | 4 | 3 | 4 | 3 | 4 | 3 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | — | — | — | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Operating cycle1 | 77 | 58 | 67 | 63 | 83 | 68 | 69 | 63 | 77 | 64 | 65 | 63 | 75 | 61 | 60 | 59 | 72 | 65 | 66 | 64 | 78 | 67 | 64 | 60 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | 40 | 34 | 32 | 36 | 41 | 35 | 36 | 37 | 40 | 37 | 36 | 38 | 40 | 36 | 37 | 38 | 43 | 36 | 36 | 37 | 41 | 36 | — | — | — | ||||||||
| Dollar General Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 79 | 71 | 82 | 80 | 85 | 82 | 86 | 79 | 86 | 83 | 86 | 77 | 83 | 81 | 87 | 82 | 87 | 82 | 89 | 82 | 88 | 84 | 89 | 82 | — | — | — | ||||||||
| Walmart Inc. | 50 | 40 | 40 | 45 | 52 | 45 | 46 | 46 | 52 | 44 | 45 | 47 | 54 | 48 | 48 | 47 | 54 | 48 | 49 | 49 | 55 | 49 | 50 | 50 | — | — | — | ||||||||
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
1 Q3 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 72 + 5 = 77
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.’s operating cycle improved from Q1 2021 to Q2 2021 but then deteriorated significantly from Q2 2021 to Q3 2021. |
Average Payables Payment Period
TJX Cos. Inc., average payables payment period calculation (quarterly data)
| Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | Jan 30, 2016 | Oct 31, 2015 | Aug 1, 2015 | May 2, 2015 | Jan 31, 2015 | Nov 1, 2014 | Aug 2, 2014 | May 3, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||||||
| Payables turnover | 4.13 | 10.64 | 25.79 | 11.17 | 8.45 | 11.00 | 10.97 | 10.53 | 8.28 | 9.99 | 10.42 | 10.25 | 8.18 | 10.28 | 10.91 | 10.56 | 8.62 | 10.11 | 10.52 | 10.00 | 8.01 | 9.43 | 9.76 | 10.35 | — | — | — | ||||||||
| Short-term Activity Ratio (no. days) | |||||||||||||||||||||||||||||||||||
| Average payables payment period1 | 88 | 34 | 14 | 33 | 43 | 33 | 33 | 35 | 44 | 37 | 35 | 36 | 45 | 35 | 33 | 35 | 42 | 36 | 35 | 36 | 46 | 39 | 37 | 35 | — | — | — | ||||||||
| Benchmarks (no. days) | |||||||||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | |||||||||||||||||||||||||||||||||||
| Amazon.com Inc. | — | — | — | 113 | 102 | 97 | 83 | 104 | 84 | 89 | 82 | 100 | 85 | 79 | 76 | 113 | 93 | 81 | 75 | 105 | — | — | — | — | — | — | — | ||||||||
| Costco Wholesale Corp. | — | — | 41 | 36 | 28 | 29 | 39 | 32 | 32 | 31 | 38 | 33 | 32 | 31 | 38 | 31 | 32 | 30 | 39 | 27 | 31 | 29 | 37 | 33 | — | — | — | ||||||||
| Dollar General Corp. | 62 | 58 | 53 | 54 | 55 | 54 | 49 | 49 | 49 | 49 | 44 | 45 | 45 | 43 | 38 | 37 | 48 | 43 | 37 | 39 | 39 | 41 | 39 | 39 | — | — | — | ||||||||
| Home Depot Inc. | 57 | 54 | 50 | 39 | 46 | 48 | 52 | 40 | 48 | 50 | 53 | 40 | 48 | 49 | 53 | 41 | 48 | 50 | 53 | 41 | 46 | 49 | 53 | 39 | — | — | — | ||||||||
| Lowe’s Cos. Inc. | 81 | 87 | 79 | 57 | 66 | 70 | 86 | 62 | 71 | 70 | 81 | 53 | 72 | 71 | 83 | 57 | 70 | 70 | 82 | 53 | 70 | 69 | 79 | 51 | — | — | — | ||||||||
| Target Corp. | 83 | 65 | 61 | 66 | 75 | 62 | 57 | 67 | 82 | 63 | 57 | 62 | 74 | 56 | 49 | 54 | 61 | 49 | 45 | 52 | 63 | 49 | 48 | 55 | — | — | — | ||||||||
| Walmart Inc. | 48 | 41 | 40 | 43 | 46 | 43 | 43 | 45 | 47 | 41 | 43 | 45 | 47 | 42 | 42 | 42 | 44 | 40 | 38 | 39 | 41 | 37 | 37 | 38 | — | — | — | ||||||||
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
1 Q3 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 4.13 = 88
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.’s number of days of payables outstanding increased from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021. |
Cash Conversion Cycle
TJX Cos. Inc., cash conversion cycle calculation (quarterly data)
No. days
| Oct 31, 2020 | Aug 1, 2020 | May 2, 2020 | Feb 1, 2020 | Nov 2, 2019 | Aug 3, 2019 | May 4, 2019 | Feb 2, 2019 | Nov 3, 2018 | Aug 4, 2018 | May 5, 2018 | Feb 3, 2018 | Oct 28, 2017 | Jul 29, 2017 | Apr 29, 2017 | Jan 28, 2017 | Oct 29, 2016 | Jul 30, 2016 | Apr 30, 2016 | Jan 30, 2016 | Oct 31, 2015 | Aug 1, 2015 | May 2, 2015 | Jan 31, 2015 | Nov 1, 2014 | Aug 2, 2014 | May 3, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||||||||||||||||||||||||||||||
| Average inventory processing period | 72 | 53 | 65 | 60 | 79 | 65 | 65 | 60 | 73 | 61 | 61 | 60 | 71 | 58 | 57 | 56 | 69 | 62 | 63 | 61 | 75 | 64 | 61 | 57 | — | — | — | ||||||||
| Average receivable collection period | 5 | 5 | 2 | 3 | 4 | 3 | 4 | 3 | 4 | 3 | 4 | 3 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | — | — | — | ||||||||
| Average payables payment period | 88 | 34 | 14 | 33 | 43 | 33 | 33 | 35 | 44 | 37 | 35 | 36 | 45 | 35 | 33 | 35 | 42 | 36 | 35 | 36 | 46 | 39 | 37 | 35 | — | — | — | ||||||||
| Short-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Cash conversion cycle1 | -11 | 24 | 53 | 30 | 40 | 35 | 36 | 28 | 33 | 27 | 30 | 27 | 30 | 26 | 27 | 24 | 30 | 29 | 31 | 28 | 32 | 28 | 27 | 25 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | — | — | -1 | -2 | 4 | 7 | 2 | 3 | 4 | 6 | 2 | 4 | 4 | 7 | 2 | 5 | 5 | 8 | 4 | 9 | 5 | 8 | 4 | 3 | — | — | — | ||||||||
| Dollar General Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Home Depot Inc. | 22 | 17 | 32 | 41 | 39 | 34 | 34 | 39 | 38 | 33 | 33 | 37 | 35 | 32 | 34 | 41 | 39 | 32 | 36 | 41 | 42 | 35 | 36 | 43 | — | — | — | ||||||||
| Walmart Inc. | 2 | -1 | 0 | 2 | 6 | 2 | 3 | 1 | 5 | 3 | 2 | 2 | 7 | 6 | 6 | 5 | 10 | 8 | 11 | 10 | 14 | 12 | 13 | 12 | — | — | — | ||||||||
Based on: 10-Q (filing date: 2020-12-01), 10-Q (filing date: 2020-08-28), 10-Q (filing date: 2020-05-21), 10-K (filing date: 2020-03-27), 10-Q (filing date: 2019-12-03), 10-Q (filing date: 2019-08-30), 10-Q (filing date: 2019-05-31), 10-K (filing date: 2019-04-03), 10-Q (filing date: 2018-12-04), 10-Q (filing date: 2018-08-31), 10-Q (filing date: 2018-06-01), 10-K (filing date: 2018-04-04), 10-Q (filing date: 2017-11-28), 10-Q (filing date: 2017-08-25), 10-Q (filing date: 2017-05-26), 10-K (filing date: 2017-03-28), 10-Q (filing date: 2016-11-30), 10-Q (filing date: 2016-08-26), 10-Q (filing date: 2016-05-27), 10-K (filing date: 2016-03-29), 10-Q (filing date: 2015-12-01), 10-Q (filing date: 2015-08-28), 10-Q (filing date: 2015-05-29), 10-K (filing date: 2015-03-31), 10-Q (filing date: 2014-12-02), 10-Q (filing date: 2014-08-29), 10-Q (filing date: 2014-05-30).
1 Q3 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 72 + 5 – 88 = -11
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.’s cash conversion cycle improved from Q1 2021 to Q2 2021 and from Q2 2021 to Q3 2021. |