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)
Union Pacific Corp., short-term (operating) activity ratios (quarterly data)
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21).
Short-term activity ratio | Description | The company |
---|---|---|
Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Union Pacific Corp.’s inventory turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Receivables turnover | An activity ratio equal to revenue divided by receivables. | Union Pacific Corp.’s receivables turnover ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020. |
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. | Union Pacific Corp.’s number of days of inventory outstanding deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Union Pacific Corp.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020. |
Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Union Pacific Corp.’s operating cycle deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Inventory Turnover
Union Pacific Corp., inventory turnover calculation (quarterly data)
Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Cost of operating revenues | 824 | 809 | 688 | 955 | 1,043 | 1,078 | 1,133 | 1,107 | 1,222 | 1,291 | 1,273 | 1,188 | 1,132 | 1,065 | 1,031 | 1,026 | 984 | 958 | 916 | 889 | ||||||
Materials and supplies | 638 | 649 | 668 | 692 | 751 | 771 | 775 | 780 | 742 | 789 | 772 | 808 | 749 | 742 | 726 | 760 | 717 | 690 | 660 | 716 | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Inventory turnover1 | 5.13 | 5.39 | 5.63 | 6.08 | 5.81 | 5.89 | 6.13 | 6.27 | 6.70 | 6.19 | 6.03 | 5.47 | 5.68 | 5.53 | 5.51 | 5.11 | 5.23 | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||
CSX Corp. | 7.37 | 9.02 | 9.82 | 10.11 | 10.17 | 11.95 | 13.15 | 12.37 | 11.46 | 10.57 | 9.11 | 7.93 | 8.00 | 7.43 | 6.71 | 6.92 | 6.84 | — | — | — | ||||||
FedEx Corp. | 47.60 | 47.77 | 46.43 | 46.71 | 48.35 | 48.53 | 50.11 | 48.43 | 46.59 | 45.44 | 43.28 | 43.37 | 42.83 | 39.20 | 37.55 | 35.75 | 34.93 | 35.83 | 34.11 | 34.62 | ||||||
Norfolk Southern Corp. | 10.05 | 9.49 | 9.26 | 9.80 | 10.98 | 10.22 | 10.91 | 12.39 | 13.61 | 9.74 | 9.43 | 9.51 | 10.15 | 9.55 | 8.07 | 8.21 | 8.74 | — | — | — |
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21).
1 Q4 2020 Calculation
Inventory turnover
= (Cost of operating revenuesQ4 2020
+ Cost of operating revenuesQ3 2020
+ Cost of operating revenuesQ2 2020
+ Cost of operating revenuesQ1 2020)
÷ Materials and supplies
= (824 + 809 + 688 + 955)
÷ 638 = 5.13
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. | Union Pacific Corp.’s inventory turnover ratio deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Receivables Turnover
Union Pacific Corp., receivables turnover calculation (quarterly data)
Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Operating revenues | 5,141 | 4,919 | 4,244 | 5,229 | 5,212 | 5,516 | 5,596 | 5,384 | 5,757 | 5,928 | 5,672 | 5,475 | 5,450 | 5,408 | 5,250 | 5,132 | 5,168 | 5,174 | 4,770 | 4,829 | ||||||
Accounts receivable, net | 1,505 | 1,565 | 1,388 | 1,669 | 1,595 | 1,650 | 1,809 | 1,672 | 1,755 | 1,792 | 1,634 | 1,571 | 1,493 | 1,428 | 1,357 | 1,279 | 1,258 | 1,351 | 1,373 | 1,355 | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Receivables turnover1 | 12.98 | 12.53 | 14.55 | 12.91 | 13.61 | 13.49 | 12.53 | 13.60 | 13.01 | 12.57 | 13.47 | 13.74 | 14.23 | 14.68 | 15.27 | 15.83 | 15.85 | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||
CSX Corp. | 11.60 | 10.86 | 12.76 | 11.69 | 12.11 | 11.08 | 11.11 | 11.20 | 12.13 | 10.98 | 11.18 | 10.92 | 11.76 | 11.81 | 11.38 | 12.00 | 11.80 | — | — | — | ||||||
FedEx Corp. | 6.85 | 7.47 | 7.13 | 7.48 | 7.65 | 7.66 | 7.18 | 7.71 | 7.72 | 7.37 | 7.20 | 7.61 | 7.94 | 7.76 | 7.29 | 7.29 | 6.94 | 8.79 | 8.28 | 8.55 | ||||||
Norfolk Southern Corp. | 11.54 | 11.22 | 12.46 | 12.46 | 12.28 | 11.82 | 11.17 | 11.05 | 11.36 | 10.77 | 10.58 | 10.99 | 11.05 | 10.66 | 11.04 | 10.06 | 10.46 | — | — | — | ||||||
United Parcel Service Inc. | 7.87 | 8.93 | 8.38 | 9.23 | 7.76 | 9.23 | 8.98 | 9.45 | 8.02 | 9.45 | 9.42 | 8.90 | 7.51 | 9.22 | 9.60 | 9.54 | 7.92 | — | — | — |
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21).
1 Q4 2020 Calculation
Receivables turnover
= (Operating revenuesQ4 2020
+ Operating revenuesQ3 2020
+ Operating revenuesQ2 2020
+ Operating revenuesQ1 2020)
÷ Accounts receivable, net
= (5,141 + 4,919 + 4,244 + 5,229)
÷ 1,505 = 12.98
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. | Union Pacific Corp.’s receivables turnover ratio deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020. |
Working Capital Turnover
Union Pacific Corp., working capital turnover calculation (quarterly data)
Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Current assets | 4,214 | 5,130 | 5,083 | 3,804 | 3,459 | 4,073 | 4,086 | 3,953 | 4,163 | 4,816 | 4,494 | 3,897 | 4,006 | 4,449 | 3,869 | 3,588 | 3,596 | 4,602 | 4,566 | 5,083 | ||||||
Less: Current liabilities | 4,173 | 4,841 | 5,279 | 4,641 | 4,351 | 4,587 | 5,665 | 5,262 | 4,626 | 4,529 | 4,372 | 4,746 | 3,939 | 3,831 | 3,406 | 3,848 | 3,640 | 3,257 | 3,095 | 3,287 | ||||||
Working capital | 41 | 289 | (196) | (837) | (892) | (514) | (1,579) | (1,309) | (463) | 287 | 122 | (849) | 67 | 618 | 463 | (260) | (44) | 1,345 | 1,471 | 1,796 | ||||||
Operating revenues | 5,141 | 4,919 | 4,244 | 5,229 | 5,212 | 5,516 | 5,596 | 5,384 | 5,757 | 5,928 | 5,672 | 5,475 | 5,450 | 5,408 | 5,250 | 5,132 | 5,168 | 5,174 | 4,770 | 4,829 | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Working capital turnover1 | 476.41 | 67.83 | — | — | — | — | — | — | — | 78.48 | 180.37 | — | 317.01 | 33.91 | 44.76 | — | — | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||
CSX Corp. | 4.37 | 5.50 | 7.60 | 7.32 | 10.59 | 10.56 | 10.90 | 7.98 | 18.85 | 14.25 | 10.08 | 6.91 | 543.24 | 119.40 | 12.06 | 29.56 | 24.76 | — | — | — | ||||||
FedEx Corp. | 11.46 | 31.44 | 26.10 | 22.61 | 17.11 | 16.31 | 17.43 | 22.14 | 17.62 | 15.68 | 13.39 | 12.36 | 12.81 | 12.83 | 13.01 | 13.43 | 12.65 | 11.52 | 9.34 | 9.89 | ||||||
Norfolk Southern Corp. | 61.96 | 17.26 | 24.68 | — | — | — | — | — | — | — | — | 117.51 | — | — | — | — | — | — | — | — | ||||||
United Parcel Service Inc. | 26.45 | 17.95 | 19.57 | 21.16 | 43.84 | 54.39 | 59.92 | 42.42 | 33.85 | 40.05 | 29.08 | 27.39 | 23.19 | 86.10 | 47.96 | 702.31 | 28.74 | — | — | — |
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21).
1 Q4 2020 Calculation
Working capital turnover
= (Operating revenuesQ4 2020
+ Operating revenuesQ3 2020
+ Operating revenuesQ2 2020
+ Operating revenuesQ1 2020)
÷ Working capital
= (5,141 + 4,919 + 4,244 + 5,229)
÷ 41 = 476.41
2 Click competitor name to see calculations.
Average Inventory Processing Period
Union Pacific Corp., average inventory processing period calculation (quarterly data)
Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | ||||||||||||||||||||||||||
Inventory turnover | 5.13 | 5.39 | 5.63 | 6.08 | 5.81 | 5.89 | 6.13 | 6.27 | 6.70 | 6.19 | 6.03 | 5.47 | 5.68 | 5.53 | 5.51 | 5.11 | 5.23 | — | — | — | ||||||
Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
Average inventory processing period1 | 71 | 68 | 65 | 60 | 63 | 62 | 60 | 58 | 54 | 59 | 60 | 67 | 64 | 66 | 66 | 71 | 70 | — | — | — | ||||||
Benchmarks (no. days) | ||||||||||||||||||||||||||
Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||
CSX Corp. | 50 | 40 | 37 | 36 | 36 | 31 | 28 | 30 | 32 | 35 | 40 | 46 | 46 | 49 | 54 | 53 | 53 | — | — | — | ||||||
FedEx Corp. | 8 | 8 | 8 | 8 | 8 | 8 | 7 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 11 | ||||||
Norfolk Southern Corp. | 36 | 38 | 39 | 37 | 33 | 36 | 33 | 29 | 27 | 37 | 39 | 38 | 36 | 38 | 45 | 44 | 42 | — | — | — |
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21).
1 Q4 2020 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.13 = 71
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. | Union Pacific Corp.’s number of days of inventory outstanding deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |
Average Receivable Collection Period
Union Pacific Corp., average receivable collection period calculation (quarterly data)
Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | ||||||||||||||||||||||||||
Receivables turnover | 12.98 | 12.53 | 14.55 | 12.91 | 13.61 | 13.49 | 12.53 | 13.60 | 13.01 | 12.57 | 13.47 | 13.74 | 14.23 | 14.68 | 15.27 | 15.83 | 15.85 | — | — | — | ||||||
Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
Average receivable collection period1 | 28 | 29 | 25 | 28 | 27 | 27 | 29 | 27 | 28 | 29 | 27 | 27 | 26 | 25 | 24 | 23 | 23 | — | — | — | ||||||
Benchmarks (no. days) | ||||||||||||||||||||||||||
Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||
CSX Corp. | 31 | 34 | 29 | 31 | 30 | 33 | 33 | 33 | 30 | 33 | 33 | 33 | 31 | 31 | 32 | 30 | 31 | — | — | — | ||||||
FedEx Corp. | 53 | 49 | 51 | 49 | 48 | 48 | 51 | 47 | 47 | 50 | 51 | 48 | 46 | 47 | 50 | 50 | 53 | 42 | 44 | 43 | ||||||
Norfolk Southern Corp. | 32 | 33 | 29 | 29 | 30 | 31 | 33 | 33 | 32 | 34 | 34 | 33 | 33 | 34 | 33 | 36 | 35 | — | — | — | ||||||
United Parcel Service Inc. | 46 | 41 | 44 | 40 | 47 | 40 | 41 | 39 | 45 | 39 | 39 | 41 | 49 | 40 | 38 | 38 | 46 | — | — | — |
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21).
1 Q4 2020 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 12.98 = 28
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. | Union Pacific Corp.’s number of days of receivables outstanding deteriorated from Q2 2020 to Q3 2020 but then slightly improved from Q3 2020 to Q4 2020. |
Operating Cycle
Union Pacific Corp., operating cycle calculation (quarterly data)
No. days
Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data | ||||||||||||||||||||||||||
Average inventory processing period | 71 | 68 | 65 | 60 | 63 | 62 | 60 | 58 | 54 | 59 | 60 | 67 | 64 | 66 | 66 | 71 | 70 | — | — | — | ||||||
Average receivable collection period | 28 | 29 | 25 | 28 | 27 | 27 | 29 | 27 | 28 | 29 | 27 | 27 | 26 | 25 | 24 | 23 | 23 | — | — | — | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Operating cycle1 | 99 | 97 | 90 | 88 | 90 | 89 | 89 | 85 | 82 | 88 | 87 | 94 | 90 | 91 | 90 | 94 | 93 | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Operating Cycle, Competitors2 | ||||||||||||||||||||||||||
CSX Corp. | 81 | 74 | 66 | 67 | 66 | 64 | 61 | 63 | 62 | 68 | 73 | 79 | 77 | 80 | 86 | 83 | 84 | — | — | — | ||||||
FedEx Corp. | 61 | 57 | 59 | 57 | 56 | 56 | 58 | 55 | 55 | 58 | 59 | 56 | 55 | 56 | 60 | 60 | 63 | 52 | 55 | 54 | ||||||
Norfolk Southern Corp. | 68 | 71 | 68 | 66 | 63 | 67 | 66 | 62 | 59 | 71 | 73 | 71 | 69 | 72 | 78 | 80 | 77 | — | — | — |
Based on: 10-K (filing date: 2021-02-05), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-19), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-03), 10-Q (filing date: 2016-10-20), 10-Q (filing date: 2016-07-21), 10-Q (filing date: 2016-04-21).
1 Q4 2020 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 71 + 28 = 99
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. | Union Pacific Corp.’s operating cycle deteriorated from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020. |