Analysis of Long-term (Investment) 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.
Long-term Activity Ratios (Summary)
Verizon Communications Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Verizon Communications Inc. net fixed asset turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Verizon Communications Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Verizon Communications Inc. total asset turnover ratio deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Verizon Communications Inc. equity turnover ratio deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
Net Fixed Asset Turnover
Verizon Communications Inc., net fixed asset turnover calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenues | 35,130) | 33,336) | 32,596) | 32,912) | 35,251) | 34,241) | 33,789) | 33,554) | 34,067) | 32,915) | 33,764) | 32,867) | 34,692) | 31,543) | 30,447) | 31,610) | 34,775) | 32,894) | 32,071) | 32,128) | ||||||
| Property, plant and equipment, net | 108,310) | 107,490) | 107,270) | 106,987) | 107,434) | 103,004) | 101,310) | 99,843) | 99,696) | 95,756) | 94,202) | 94,876) | 94,833) | 93,182) | 92,754) | 92,177) | 91,915) | 88,849) | 87,818) | 87,849) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Net fixed asset turnover1 | 1.24 | 1.25 | 1.26 | 1.27 | 1.27 | 1.32 | 1.33 | 1.35 | 1.34 | 1.40 | 1.41 | 1.37 | 1.35 | 1.38 | 1.40 | 1.42 | 1.43 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| AT&T Inc. | 0.95 | 0.95 | 0.94 | 0.94 | 0.95 | 1.03 | 1.12 | 1.22 | 1.34 | 1.40 | 1.42 | 1.39 | 1.35 | 1.34 | 1.36 | 1.39 | 1.39 | — | — | — | ||||||
| T-Mobile US Inc. | 1.80 | 1.76 | 1.74 | 1.74 | 1.75 | 1.79 | 1.83 | 1.86 | 1.86 | 1.86 | 1.85 | 1.77 | 1.55 | 1.44 | 1.23 | 1.81 | 1.82 | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Net fixed asset turnover
= (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
÷ Property, plant and equipment, net
= (35,130 + 33,336 + 32,596 + 32,912)
÷ 108,310 = 1.24
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Verizon Communications Inc. net fixed asset turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Verizon Communications Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenues | 35,130) | 33,336) | 32,596) | 32,912) | 35,251) | 34,241) | 33,789) | 33,554) | 34,067) | 32,915) | 33,764) | 32,867) | 34,692) | 31,543) | 30,447) | 31,610) | 34,775) | 32,894) | 32,071) | 32,128) | ||||||
| Property, plant and equipment, net | 108,310) | 107,490) | 107,270) | 106,987) | 107,434) | 103,004) | 101,310) | 99,843) | 99,696) | 95,756) | 94,202) | 94,876) | 94,833) | 93,182) | 92,754) | 92,177) | 91,915) | 88,849) | 87,818) | 87,849) | ||||||
| Operating lease right-of-use assets | 24,726) | 25,086) | 25,345) | 25,947) | 26,130) | 26,588) | 27,098) | 27,494) | 27,883) | 27,969) | 28,180) | 22,315) | 22,531) | 22,680) | 22,431) | 22,472) | 22,694) | 22,218) | 22,467) | 23,105) | ||||||
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 133,036) | 132,576) | 132,615) | 132,934) | 133,564) | 129,592) | 128,408) | 127,337) | 127,579) | 123,725) | 122,382) | 117,191) | 117,364) | 115,862) | 115,185) | 114,649) | 114,609) | 111,067) | 110,285) | 110,954) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 1.01 | 1.01 | 1.02 | 1.02 | 1.02 | 1.05 | 1.05 | 1.05 | 1.05 | 1.08 | 1.09 | 1.11 | 1.09 | 1.11 | 1.13 | 1.15 | 1.15 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||||||||||||||||||||||
| AT&T Inc. | 0.82 | 0.81 | 0.81 | 0.81 | 0.81 | 0.88 | 0.95 | 1.02 | 1.13 | 1.17 | 1.19 | 1.16 | 1.13 | 1.13 | 1.14 | 1.17 | 1.18 | — | — | — | ||||||
| T-Mobile US Inc. | 1.11 | 1.09 | 1.08 | 1.08 | 1.07 | 1.08 | 1.09 | 1.08 | 1.14 | 1.14 | 1.13 | 1.08 | 0.95 | 0.86 | 0.87 | 1.26 | 1.26 | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= (35,130 + 33,336 + 32,596 + 32,912)
÷ 133,036 = 1.01
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Verizon Communications Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Total Asset Turnover
Verizon Communications Inc., total asset turnover calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenues | 35,130) | 33,336) | 32,596) | 32,912) | 35,251) | 34,241) | 33,789) | 33,554) | 34,067) | 32,915) | 33,764) | 32,867) | 34,692) | 31,543) | 30,447) | 31,610) | 34,775) | 32,894) | 32,071) | 32,128) | ||||||
| Total assets | 380,255) | 384,830) | 379,955) | 377,716) | 379,680) | 375,090) | 370,147) | 365,716) | 366,596) | 353,457) | 349,190) | 345,573) | 316,481) | 296,994) | 293,259) | 294,500) | 291,727) | 284,875) | 283,108) | 283,947) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Total asset turnover1 | 0.35 | 0.35 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.37 | 0.36 | 0.38 | 0.38 | 0.37 | 0.41 | 0.43 | 0.44 | 0.45 | 0.45 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| AT&T Inc. | 0.30 | 0.30 | 0.30 | 0.30 | 0.30 | 0.31 | 0.33 | 0.27 | 0.31 | 0.32 | 0.32 | 0.32 | 0.33 | 0.32 | 0.32 | 0.33 | 0.33 | — | — | — | ||||||
| T-Mobile US Inc. | 0.38 | 0.38 | 0.37 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.39 | 0.39 | 0.39 | 0.38 | 0.34 | 0.31 | 0.28 | 0.52 | 0.52 | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Total asset turnover
= (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
÷ Total assets
= (35,130 + 33,336 + 32,596 + 32,912)
÷ 380,255 = 0.35
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Verizon Communications Inc. total asset turnover ratio deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |
Equity Turnover
Verizon Communications Inc., equity turnover calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Operating revenues | 35,130) | 33,336) | 32,596) | 32,912) | 35,251) | 34,241) | 33,789) | 33,554) | 34,067) | 32,915) | 33,764) | 32,867) | 34,692) | 31,543) | 30,447) | 31,610) | 34,775) | 32,894) | 32,071) | 32,128) | ||||||
| Equity attributable to Verizon | 92,430) | 97,741) | 95,193) | 92,883) | 91,144) | 87,468) | 86,016) | 83,762) | 81,790) | 77,044) | 73,684) | 71,232) | 67,842) | 65,069) | 62,697) | 60,210) | 61,395) | 58,921) | 56,582) | 55,856) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Equity turnover1 | 1.45 | 1.37 | 1.42 | 1.47 | 1.50 | 1.55 | 1.56 | 1.60 | 1.63 | 1.74 | 1.80 | 1.82 | 1.89 | 1.97 | 2.07 | 2.18 | 2.15 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||
| AT&T Inc. | 1.19 | 1.17 | 1.19 | 1.22 | 1.24 | 1.06 | 1.19 | 0.91 | 1.02 | 1.06 | 1.08 | 1.04 | 1.06 | 0.98 | 1.00 | 1.01 | 0.98 | — | — | — | ||||||
| T-Mobile US Inc. | 1.21 | 1.21 | 1.20 | 1.18 | 1.14 | 1.14 | 1.15 | 1.15 | 1.16 | 1.16 | 1.18 | 1.16 | 1.05 | 0.93 | 0.82 | 1.55 | 1.56 | — | — | — | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Equity turnover
= (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
÷ Equity attributable to Verizon
= (35,130 + 33,336 + 32,596 + 32,912)
÷ 92,430 = 1.45
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Verizon Communications Inc. equity turnover ratio deteriorated from Q2 2023 to Q3 2023 but then improved from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |