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)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Short-term activity ratio | Description | The company |
---|---|---|
Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Thermo Fisher Scientific Inc. inventory turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Receivables turnover | An activity ratio equal to revenue divided by receivables. | Thermo Fisher Scientific Inc. receivables turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Thermo Fisher Scientific Inc. payables turnover ratio increased from 2021 to 2022 and from 2022 to 2023. |
Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Thermo Fisher Scientific Inc. working capital turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
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. | Thermo Fisher Scientific Inc. number of days of inventory outstanding improved from 2021 to 2022 and from 2022 to 2023. |
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. | Thermo Fisher Scientific Inc. operating cycle improved from 2021 to 2022 and from 2022 to 2023. |
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. | Thermo Fisher Scientific Inc. number of days of payables outstanding decreased from 2021 to 2022 and from 2022 to 2023. |
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. | Thermo Fisher Scientific Inc. cash conversion cycle improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Inventory Turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Cost of revenues | 25,757) | 25,944) | 19,573) | 16,214) | 14,214) | |
Inventories | 5,088) | 5,634) | 5,051) | 4,029) | 3,370) | |
Short-term Activity Ratio | ||||||
Inventory turnover1 | 5.06 | 4.60 | 3.88 | 4.02 | 4.22 | |
Benchmarks | ||||||
Inventory Turnover, Competitors2 | ||||||
AbbVie Inc. | 4.98 | 4.87 | 5.58 | 4.65 | 4.10 | |
Amgen Inc. | 0.89 | 1.30 | 1.58 | 1.58 | 1.22 | |
Bristol-Myers Squibb Co. | 4.02 | 4.33 | 4.74 | 5.68 | 1.88 | |
Danaher Corp. | 3.80 | 4.03 | 4.16 | 4.28 | 4.87 | |
Eli Lilly & Co. | 1.23 | 1.54 | 1.88 | 1.38 | 1.48 | |
Gilead Sciences Inc. | 3.64 | 3.75 | 4.08 | 2.72 | 5.07 | |
Johnson & Johnson | 2.37 | 2.49 | 2.87 | 3.04 | 3.05 | |
Merck & Co. Inc. | 2.54 | 2.95 | 2.29 | 2.45 | 2.36 | |
Moderna Inc. | 23.23 | 5.71 | 1.82 | 0.17 | — | |
Pfizer Inc. | 2.45 | 3.82 | 3.40 | 1.08 | 1.23 | |
Regeneron Pharmaceuticals Inc. | 0.70 | 0.65 | 1.25 | 0.58 | 0.55 | |
Inventory Turnover, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 2.63 | 3.11 | 3.08 | 2.62 | 2.39 | |
Inventory Turnover, Industry | ||||||
Health Care | 10.99 | 10.93 | 10.91 | 9.96 | 10.08 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Inventory turnover = Cost of revenues ÷ Inventories
= 25,757 ÷ 5,088 = 5.06
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. | Thermo Fisher Scientific Inc. inventory turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Receivables Turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Revenues | 42,857) | 44,915) | 39,211) | 32,218) | 25,542) | |
Accounts receivable, less allowances | 8,221) | 8,115) | 7,977) | 5,741) | 4,349) | |
Short-term Activity Ratio | ||||||
Receivables turnover1 | 5.21 | 5.53 | 4.92 | 5.61 | 5.87 | |
Benchmarks | ||||||
Receivables Turnover, Competitors2 | ||||||
AbbVie Inc. | 4.87 | 5.16 | 5.63 | 5.19 | 6.13 | |
Amgen Inc. | 3.70 | 4.46 | 4.96 | 5.36 | 5.47 | |
Bristol-Myers Squibb Co. | 4.93 | 5.48 | 5.65 | 5.72 | 3.89 | |
Danaher Corp. | 6.09 | 6.40 | 6.36 | 5.51 | 5.61 | |
Eli Lilly & Co. | 3.75 | 4.14 | 4.24 | 4.18 | 4.91 | |
Gilead Sciences Inc. | 5.78 | 5.65 | 6.01 | 4.98 | 6.18 | |
Johnson & Johnson | 5.73 | 5.88 | 6.14 | 6.08 | 5.67 | |
Merck & Co. Inc. | 5.81 | 6.27 | 5.28 | 6.11 | 6.91 | |
Moderna Inc. | 7.48 | 13.31 | 5.57 | 0.14 | 0.00 | |
Pfizer Inc. | 5.23 | 9.16 | 7.08 | 5.28 | 5.93 | |
Regeneron Pharmaceuticals Inc. | 2.31 | 2.28 | 2.66 | 2.07 | 2.94 | |
Receivables Turnover, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 4.95 | 5.86 | 5.52 | 5.21 | 5.55 | |
Receivables Turnover, Industry | ||||||
Health Care | 9.03 | 9.77 | 9.45 | 9.50 | 9.90 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Receivables turnover = Revenues ÷ Accounts receivable, less allowances
= 42,857 ÷ 8,221 = 5.21
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. | Thermo Fisher Scientific Inc. receivables turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Payables Turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Cost of revenues | 25,757) | 25,944) | 19,573) | 16,214) | 14,214) | |
Accounts payable | 2,872) | 3,381) | 2,867) | 2,175) | 1,920) | |
Short-term Activity Ratio | ||||||
Payables turnover1 | 8.97 | 7.67 | 6.83 | 7.45 | 7.40 | |
Benchmarks | ||||||
Payables Turnover, Competitors2 | ||||||
AbbVie Inc. | 5.54 | 5.94 | 6.05 | 6.76 | 5.12 | |
Amgen Inc. | 5.32 | 4.08 | 4.72 | 4.33 | 3.18 | |
Bristol-Myers Squibb Co. | 3.28 | 3.33 | 3.37 | 4.34 | 3.30 | |
Danaher Corp. | 5.58 | 5.45 | 4.48 | 4.79 | 5.23 | |
Eli Lilly & Co. | 2.73 | 3.43 | 4.38 | 3.41 | 3.36 | |
Gilead Sciences Inc. | 11.81 | 6.25 | 9.36 | 5.42 | 6.56 | |
Johnson & Johnson | 2.76 | 2.66 | 2.70 | 2.99 | 3.23 | |
Merck & Co. Inc. | 4.11 | 4.08 | 2.96 | 3.37 | 3.78 | |
Moderna Inc. | 9.03 | 11.12 | 8.67 | 0.43 | 0.00 | |
Pfizer Inc. | 3.72 | 5.04 | 5.53 | 2.02 | 2.42 | |
Regeneron Pharmaceuticals Inc. | 2.99 | 2.65 | 4.32 | 2.36 | 1.87 | |
Payables Turnover, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 4.32 | 4.37 | 4.26 | 3.85 | 3.75 | |
Payables Turnover, Industry | ||||||
Health Care | 7.85 | 7.55 | 7.68 | 7.52 | 8.05 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Payables turnover = Cost of revenues ÷ Accounts payable
= 25,757 ÷ 2,872 = 8.97
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. | Thermo Fisher Scientific Inc. payables turnover ratio increased from 2021 to 2022 and from 2022 to 2023. |
Working Capital Turnover
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Current assets | 24,589) | 25,229) | 20,113) | 21,957) | 11,893) | |
Less: Current liabilities | 14,012) | 17,010) | 13,436) | 10,304) | 6,197) | |
Working capital | 10,577) | 8,219) | 6,677) | 11,653) | 5,696) | |
Revenues | 42,857) | 44,915) | 39,211) | 32,218) | 25,542) | |
Short-term Activity Ratio | ||||||
Working capital turnover1 | 4.05 | 5.46 | 5.87 | 2.76 | 4.48 | |
Benchmarks | ||||||
Working Capital Turnover, Competitors2 | ||||||
AbbVie Inc. | — | — | — | — | 0.98 | |
Amgen Inc. | 2.25 | 3.82 | 3.37 | 2.55 | 3.96 | |
Bristol-Myers Squibb Co. | 4.60 | 8.30 | 3.95 | 3.72 | 2.28 | |
Danaher Corp. | 4.22 | 4.20 | 8.40 | 3.48 | 0.87 | |
Eli Lilly & Co. | — | 31.84 | 8.33 | 4.93 | 11.54 | |
Gilead Sciences Inc. | 5.61 | 8.42 | 8.54 | 5.30 | 1.08 | |
Johnson & Johnson | 11.81 | — | 5.95 | 9.44 | 8.81 | |
Merck & Co. Inc. | 9.29 | 5.16 | 7.62 | 109.83 | 8.90 | |
Moderna Inc. | 0.91 | 2.17 | 2.55 | 0.10 | 0.00 | |
Pfizer Inc. | — | 11.00 | 4.78 | 4.58 | — | |
Regeneron Pharmaceuticals Inc. | 0.82 | 0.96 | 1.59 | 1.20 | 1.41 | |
Working Capital Turnover, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 6.94 | 7.57 | 6.02 | 5.57 | 3.08 | |
Working Capital Turnover, Industry | ||||||
Health Care | 20.20 | 18.71 | 13.72 | 14.03 | 9.09 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Working capital turnover = Revenues ÷ Working capital
= 42,857 ÷ 10,577 = 4.05
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. | Thermo Fisher Scientific Inc. working capital turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Average Inventory Processing Period
Thermo Fisher Scientific Inc., average inventory processing period calculation, comparison to benchmarks
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Inventory turnover | 5.06 | 4.60 | 3.88 | 4.02 | 4.22 | |
Short-term Activity Ratio (no. days) | ||||||
Average inventory processing period1 | 72 | 79 | 94 | 91 | 87 | |
Benchmarks (no. days) | ||||||
Average Inventory Processing Period, Competitors2 | ||||||
AbbVie Inc. | 73 | 75 | 65 | 79 | 89 | |
Amgen Inc. | 411 | 281 | 231 | 231 | 300 | |
Bristol-Myers Squibb Co. | 91 | 84 | 77 | 64 | 194 | |
Danaher Corp. | 96 | 91 | 88 | 85 | 75 | |
Eli Lilly & Co. | 298 | 237 | 194 | 265 | 247 | |
Gilead Sciences Inc. | 100 | 97 | 89 | 134 | 72 | |
Johnson & Johnson | 154 | 147 | 127 | 120 | 119 | |
Merck & Co. Inc. | 144 | 124 | 159 | 149 | 155 | |
Moderna Inc. | 16 | 64 | 201 | 2,141 | — | |
Pfizer Inc. | 149 | 95 | 107 | 338 | 296 | |
Regeneron Pharmaceuticals Inc. | 519 | 562 | 292 | 625 | 661 | |
Average Inventory Processing Period, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 139 | 117 | 119 | 139 | 153 | |
Average Inventory Processing Period, Industry | ||||||
Health Care | 33 | 33 | 33 | 37 | 36 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.06 = 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. | Thermo Fisher Scientific Inc. number of days of inventory outstanding improved from 2021 to 2022 and from 2022 to 2023. |
Average Receivable Collection Period
Thermo Fisher Scientific Inc., average receivable collection period calculation, comparison to benchmarks
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Receivables turnover | 5.21 | 5.53 | 4.92 | 5.61 | 5.87 | |
Short-term Activity Ratio (no. days) | ||||||
Average receivable collection period1 | 70 | 66 | 74 | 65 | 62 | |
Benchmarks (no. days) | ||||||
Average Receivable Collection Period, Competitors2 | ||||||
AbbVie Inc. | 75 | 71 | 65 | 70 | 60 | |
Amgen Inc. | 99 | 82 | 74 | 68 | 67 | |
Bristol-Myers Squibb Co. | 74 | 67 | 65 | 64 | 94 | |
Danaher Corp. | 60 | 57 | 57 | 66 | 65 | |
Eli Lilly & Co. | 97 | 88 | 86 | 87 | 74 | |
Gilead Sciences Inc. | 63 | 65 | 61 | 73 | 59 | |
Johnson & Johnson | 64 | 62 | 59 | 60 | 64 | |
Merck & Co. Inc. | 63 | 58 | 69 | 60 | 53 | |
Moderna Inc. | 49 | 27 | 66 | 2,539 | — | |
Pfizer Inc. | 70 | 40 | 52 | 69 | 62 | |
Regeneron Pharmaceuticals Inc. | 158 | 160 | 137 | 177 | 124 | |
Average Receivable Collection Period, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 74 | 62 | 66 | 70 | 66 | |
Average Receivable Collection Period, Industry | ||||||
Health Care | 40 | 37 | 39 | 38 | 37 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 5.21 = 70
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
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Average inventory processing period | 72 | 79 | 94 | 91 | 87 | |
Average receivable collection period | 70 | 66 | 74 | 65 | 62 | |
Short-term Activity Ratio | ||||||
Operating cycle1 | 142 | 145 | 168 | 156 | 149 | |
Benchmarks | ||||||
Operating Cycle, Competitors2 | ||||||
AbbVie Inc. | 148 | 146 | 130 | 149 | 149 | |
Amgen Inc. | 510 | 363 | 305 | 299 | 367 | |
Bristol-Myers Squibb Co. | 165 | 151 | 142 | 128 | 288 | |
Danaher Corp. | 156 | 148 | 145 | 151 | 140 | |
Eli Lilly & Co. | 395 | 325 | 280 | 352 | 321 | |
Gilead Sciences Inc. | 163 | 162 | 150 | 207 | 131 | |
Johnson & Johnson | 218 | 209 | 186 | 180 | 183 | |
Merck & Co. Inc. | 207 | 182 | 228 | 209 | 208 | |
Moderna Inc. | 65 | 91 | 267 | 4,680 | — | |
Pfizer Inc. | 219 | 135 | 159 | 407 | 358 | |
Regeneron Pharmaceuticals Inc. | 677 | 722 | 429 | 802 | 785 | |
Operating Cycle, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 213 | 179 | 185 | 209 | 219 | |
Operating Cycle, Industry | ||||||
Health Care | 73 | 70 | 72 | 75 | 73 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 72 + 70 = 142
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. | Thermo Fisher Scientific Inc. operating cycle improved from 2021 to 2022 and from 2022 to 2023. |
Average Payables Payment Period
Thermo Fisher Scientific Inc., average payables payment period calculation, comparison to benchmarks
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Payables turnover | 8.97 | 7.67 | 6.83 | 7.45 | 7.40 | |
Short-term Activity Ratio (no. days) | ||||||
Average payables payment period1 | 41 | 48 | 53 | 49 | 49 | |
Benchmarks (no. days) | ||||||
Average Payables Payment Period, Competitors2 | ||||||
AbbVie Inc. | 66 | 61 | 60 | 54 | 71 | |
Amgen Inc. | 69 | 90 | 77 | 84 | 115 | |
Bristol-Myers Squibb Co. | 111 | 109 | 108 | 84 | 110 | |
Danaher Corp. | 65 | 67 | 82 | 76 | 70 | |
Eli Lilly & Co. | 134 | 106 | 83 | 107 | 109 | |
Gilead Sciences Inc. | 31 | 58 | 39 | 67 | 56 | |
Johnson & Johnson | 132 | 137 | 135 | 122 | 113 | |
Merck & Co. Inc. | 89 | 89 | 123 | 108 | 97 | |
Moderna Inc. | 40 | 33 | 42 | 845 | — | |
Pfizer Inc. | 98 | 72 | 66 | 181 | 151 | |
Regeneron Pharmaceuticals Inc. | 122 | 138 | 84 | 155 | 195 | |
Average Payables Payment Period, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 85 | 83 | 86 | 95 | 97 | |
Average Payables Payment Period, Industry | ||||||
Health Care | 46 | 48 | 48 | 49 | 45 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 8.97 = 41
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. | Thermo Fisher Scientific Inc. number of days of payables outstanding decreased from 2021 to 2022 and from 2022 to 2023. |
Cash Conversion Cycle
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Selected Financial Data | ||||||
Average inventory processing period | 72 | 79 | 94 | 91 | 87 | |
Average receivable collection period | 70 | 66 | 74 | 65 | 62 | |
Average payables payment period | 41 | 48 | 53 | 49 | 49 | |
Short-term Activity Ratio | ||||||
Cash conversion cycle1 | 101 | 97 | 115 | 107 | 100 | |
Benchmarks | ||||||
Cash Conversion Cycle, Competitors2 | ||||||
AbbVie Inc. | 82 | 85 | 70 | 95 | 78 | |
Amgen Inc. | 441 | 273 | 228 | 215 | 252 | |
Bristol-Myers Squibb Co. | 54 | 42 | 34 | 44 | 178 | |
Danaher Corp. | 91 | 81 | 63 | 75 | 70 | |
Eli Lilly & Co. | 261 | 219 | 197 | 245 | 212 | |
Gilead Sciences Inc. | 132 | 104 | 111 | 140 | 75 | |
Johnson & Johnson | 86 | 72 | 51 | 58 | 70 | |
Merck & Co. Inc. | 118 | 93 | 105 | 101 | 111 | |
Moderna Inc. | 25 | 58 | 225 | 3,835 | — | |
Pfizer Inc. | 121 | 63 | 93 | 226 | 207 | |
Regeneron Pharmaceuticals Inc. | 555 | 584 | 345 | 647 | 590 | |
Cash Conversion Cycle, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 128 | 96 | 99 | 114 | 122 | |
Cash Conversion Cycle, Industry | ||||||
Health Care | 27 | 22 | 24 | 26 | 28 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 72 + 70 – 41 = 101
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. | Thermo Fisher Scientific Inc. cash conversion cycle improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |