Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Time Warner Inc. (NYSE:TWX)

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Analysis of Short-term (Operating) Activity Ratios

Beginner level


Short-term Activity Ratios (Summary)

Time Warner Inc., short-term (operating) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Turnover Ratios
Inventory turnover
Receivables turnover
Payables turnover
Working capital turnover
Average No. Days
Average inventory processing period
Add: Average receivable collection period
Operating cycle
Less: Average payables payment period
Cash conversion cycle

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Time Warner Inc.’s inventory turnover ratio deteriorated from 2015 to 2016 and from 2016 to 2017.
Receivables turnover An activity ratio equal to revenue divided by receivables. Time Warner Inc.’s receivables turnover ratio deteriorated from 2015 to 2016 and from 2016 to 2017.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Time Warner Inc.’s payables turnover ratio increased from 2015 to 2016 but then decreased significantly from 2016 to 2017.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Time Warner Inc.’s working capital turnover ratio improved from 2015 to 2016 and from 2016 to 2017.

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. Time Warner Inc.’s number of days of inventory outstanding deteriorated from 2015 to 2016 and from 2016 to 2017.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Time Warner Inc.’s number of days of receivables outstanding deteriorated from 2015 to 2016 and from 2016 to 2017.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Time Warner Inc.’s operating cycle deteriorated from 2015 to 2016 and from 2016 to 2017.
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. Time Warner Inc.’s number of days of payables outstanding decreased from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 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. Time Warner Inc.’s cash conversion cycle deteriorated from 2015 to 2016 and from 2016 to 2017.

Inventory Turnover

Time Warner Inc., inventory turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (US$ in millions)
Costs of revenues
Inventories
Short-term Activity Ratio
Inventory turnover1
Benchmarks
Inventory Turnover, Competitors2
Walt Disney Co.
Inventory Turnover, Sector
Media
Inventory Turnover, Industry
Consumer Services

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 2017 Calculation
Inventory turnover = Costs of revenues ÷ Inventories
= ÷ =

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. Time Warner Inc.’s inventory turnover ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

Receivables Turnover

Time Warner Inc., receivables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (US$ in millions)
Revenues
Receivables, less allowances
Short-term Activity Ratio
Receivables turnover1
Benchmarks
Receivables Turnover, Competitors2
Charter Communications Inc.
Comcast Corp.
Netflix Inc.
Walt Disney Co.
Receivables Turnover, Sector
Media
Receivables Turnover, Industry
Consumer Services

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 2017 Calculation
Receivables turnover = Revenues ÷ Receivables, less allowances
= ÷ =

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. Time Warner Inc.’s receivables turnover ratio deteriorated from 2015 to 2016 and from 2016 to 2017.

Payables Turnover

Time Warner Inc., payables turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (US$ in millions)
Costs of revenues
Accounts payable
Short-term Activity Ratio
Payables turnover1
Benchmarks
Payables Turnover, Competitors2
Charter Communications Inc.
Comcast Corp.
Netflix Inc.
Walt Disney Co.
Payables Turnover, Sector
Media
Payables Turnover, Industry
Consumer Services

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 2017 Calculation
Payables turnover = Costs of revenues ÷ Accounts payable
= ÷ =

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. Time Warner Inc.’s payables turnover ratio increased from 2015 to 2016 but then decreased significantly from 2016 to 2017.

Working Capital Turnover

Time Warner Inc., working capital turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (US$ in millions)
Current assets
Less: Current liabilities
Working capital
 
Revenues
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Charter Communications Inc.
Comcast Corp.
Netflix Inc.
Walt Disney Co.
Working Capital Turnover, Sector
Media
Working Capital Turnover, Industry
Consumer Services

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 2017 Calculation
Working capital turnover = Revenues ÷ Working capital
= ÷ =

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. Time Warner Inc.’s working capital turnover ratio improved from 2015 to 2016 and from 2016 to 2017.

Average Inventory Processing Period

Time Warner Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Inventory turnover
Short-term Activity Ratio (no. days)
Average inventory processing period1
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Walt Disney Co.
Average Inventory Processing Period, Sector
Media
Average Inventory Processing Period, Industry
Consumer Services

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 2017 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ =

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. Time Warner Inc.’s number of days of inventory outstanding deteriorated from 2015 to 2016 and from 2016 to 2017.

Average Receivable Collection Period

Time Warner Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Receivables turnover
Short-term Activity Ratio (no. days)
Average receivable collection period1
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Charter Communications Inc.
Comcast Corp.
Netflix Inc.
Walt Disney Co.
Average Receivable Collection Period, Sector
Media
Average Receivable Collection Period, Industry
Consumer Services

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 2017 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ =

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. Time Warner Inc.’s number of days of receivables outstanding deteriorated from 2015 to 2016 and from 2016 to 2017.

Operating Cycle

Time Warner Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Average inventory processing period
Average receivable collection period
Short-term Activity Ratio
Operating cycle1
Benchmarks
Operating Cycle, Competitors2
Walt Disney Co.
Operating Cycle, Sector
Media
Operating Cycle, Industry
Consumer Services

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 2017 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= + =

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. Time Warner Inc.’s operating cycle deteriorated from 2015 to 2016 and from 2016 to 2017.

Average Payables Payment Period

Time Warner Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Payables turnover
Short-term Activity Ratio (no. days)
Average payables payment period1
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Charter Communications Inc.
Comcast Corp.
Netflix Inc.
Walt Disney Co.
Average Payables Payment Period, Sector
Media
Average Payables Payment Period, Industry
Consumer Services

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 2017 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ =

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. Time Warner Inc.’s number of days of payables outstanding decreased from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.

Cash Conversion Cycle

Time Warner Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data
Average inventory processing period
Average receivable collection period
Average payables payment period
Short-term Activity Ratio
Cash conversion cycle1
Benchmarks
Cash Conversion Cycle, Competitors2
Walt Disney Co.
Cash Conversion Cycle, Sector
Media
Cash Conversion Cycle, Industry
Consumer Services

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 2017 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= + =

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. Time Warner Inc.’s cash conversion cycle deteriorated from 2015 to 2016 and from 2016 to 2017.