Analysis of Short-term (Operating) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
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- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Total Asset Turnover since 2005
- Return on Assets (ROA) since 2005
- Adjusted Financial Ratios
- Aggregate Accruals
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Short-term Activity Ratios (Summary)
Walt Disney Co., short-term (operating) activity ratios
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Walt Disney Co. inventory turnover ratio improved from 2019 to 2020 and from 2020 to 2021. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Walt Disney Co. receivables turnover ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Walt Disney Co. payables turnover ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021. |
| 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. | Walt Disney Co. number of days of inventory outstanding improved from 2019 to 2020 and from 2020 to 2021. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Walt Disney Co. number of days of receivables outstanding improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Walt Disney Co. operating cycle improved from 2019 to 2020 and from 2020 to 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. | Walt Disney Co. number of days of payables outstanding decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 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. | Walt Disney Co. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021. |
Inventory Turnover
Walt Disney Co., inventory turnover calculation, comparison to benchmarks
| Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Cost of revenues, exclusive of depreciation and amortization | |||||||
| Inventories | |||||||
| Short-term Activity Ratio | |||||||
| Inventory turnover1 | |||||||
| Benchmarks | |||||||
| Inventory Turnover, Competitors2 | |||||||
| Alphabet Inc. | |||||||
| Inventory Turnover, Sector | |||||||
| Media & Entertainment | |||||||
| Inventory Turnover, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
1 2021 Calculation
Inventory turnover = Cost of revenues, exclusive of depreciation and amortization ÷ 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. | Walt Disney Co. inventory turnover ratio improved from 2019 to 2020 and from 2020 to 2021. |
Receivables Turnover
Walt Disney Co., receivables turnover calculation, comparison to benchmarks
| Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Revenues | |||||||
| Receivables, net | |||||||
| Short-term Activity Ratio | |||||||
| Receivables turnover1 | |||||||
| Benchmarks | |||||||
| Receivables Turnover, Competitors2 | |||||||
| Alphabet Inc. | |||||||
| Charter Communications Inc. | |||||||
| Comcast Corp. | |||||||
| Facebook Inc. | |||||||
| Netflix Inc. | |||||||
| Receivables Turnover, Sector | |||||||
| Media & Entertainment | |||||||
| Receivables Turnover, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
1 2021 Calculation
Receivables turnover = Revenues ÷ Receivables, net
= ÷ =
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. | Walt Disney Co. receivables turnover ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Payables Turnover
Walt Disney Co., payables turnover calculation, comparison to benchmarks
| Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||
| Cost of revenues, exclusive of depreciation and amortization | |||||||
| Accounts and accrued payables | |||||||
| Short-term Activity Ratio | |||||||
| Payables turnover1 | |||||||
| Benchmarks | |||||||
| Payables Turnover, Competitors2 | |||||||
| Alphabet Inc. | |||||||
| Charter Communications Inc. | |||||||
| Comcast Corp. | |||||||
| Facebook Inc. | |||||||
| Netflix Inc. | |||||||
| Payables Turnover, Sector | |||||||
| Media & Entertainment | |||||||
| Payables Turnover, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
1 2021 Calculation
Payables turnover = Cost of revenues, exclusive of depreciation and amortization ÷ Accounts and accrued payables
= ÷ =
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. | Walt Disney Co. payables turnover ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021. |
Working Capital Turnover
Walt Disney Co., working capital turnover calculation, comparison to benchmarks
| Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| 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 | |||||||
| Alphabet Inc. | |||||||
| Charter Communications Inc. | |||||||
| Comcast Corp. | |||||||
| Facebook Inc. | |||||||
| Netflix Inc. | |||||||
| Working Capital Turnover, Sector | |||||||
| Media & Entertainment | |||||||
| Working Capital Turnover, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
1 2021 Calculation
Working capital turnover = Revenues ÷ Working capital
= ÷ =
2 Click competitor name to see calculations.
Average Inventory Processing Period
Walt Disney Co., average inventory processing period calculation, comparison to benchmarks
| Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||
| Inventory turnover | |||||||
| Short-term Activity Ratio (no. days) | |||||||
| Average inventory processing period1 | |||||||
| Benchmarks (no. days) | |||||||
| Average Inventory Processing Period, Competitors2 | |||||||
| Alphabet Inc. | |||||||
| Average Inventory Processing Period, Sector | |||||||
| Media & Entertainment | |||||||
| Average Inventory Processing Period, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
1 2021 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. | Walt Disney Co. number of days of inventory outstanding improved from 2019 to 2020 and from 2020 to 2021. |
Average Receivable Collection Period
Walt Disney Co., average receivable collection period calculation, comparison to benchmarks
| Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||
| Receivables turnover | |||||||
| Short-term Activity Ratio (no. days) | |||||||
| Average receivable collection period1 | |||||||
| Benchmarks (no. days) | |||||||
| Average Receivable Collection Period, Competitors2 | |||||||
| Alphabet Inc. | |||||||
| Charter Communications Inc. | |||||||
| Comcast Corp. | |||||||
| Facebook Inc. | |||||||
| Netflix Inc. | |||||||
| Average Receivable Collection Period, Sector | |||||||
| Media & Entertainment | |||||||
| Average Receivable Collection Period, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
1 2021 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. | Walt Disney Co. number of days of receivables outstanding improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Operating Cycle
Walt Disney Co., operating cycle calculation, comparison to benchmarks
No. days
| Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||
| Average inventory processing period | |||||||
| Average receivable collection period | |||||||
| Short-term Activity Ratio | |||||||
| Operating cycle1 | |||||||
| Benchmarks | |||||||
| Operating Cycle, Competitors2 | |||||||
| Alphabet Inc. | |||||||
| Operating Cycle, Sector | |||||||
| Media & Entertainment | |||||||
| Operating Cycle, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
1 2021 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. | Walt Disney Co. operating cycle improved from 2019 to 2020 and from 2020 to 2021. |
Average Payables Payment Period
Walt Disney Co., average payables payment period calculation, comparison to benchmarks
| Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| Selected Financial Data | |||||||
| Payables turnover | |||||||
| Short-term Activity Ratio (no. days) | |||||||
| Average payables payment period1 | |||||||
| Benchmarks (no. days) | |||||||
| Average Payables Payment Period, Competitors2 | |||||||
| Alphabet Inc. | |||||||
| Charter Communications Inc. | |||||||
| Comcast Corp. | |||||||
| Facebook Inc. | |||||||
| Netflix Inc. | |||||||
| Average Payables Payment Period, Sector | |||||||
| Media & Entertainment | |||||||
| Average Payables Payment Period, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
1 2021 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. | Walt Disney Co. number of days of payables outstanding decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level. |
Cash Conversion Cycle
Walt Disney Co., cash conversion cycle calculation, comparison to benchmarks
No. days
| Oct 2, 2021 | Oct 3, 2020 | Sep 28, 2019 | Sep 29, 2018 | Sep 30, 2017 | Oct 1, 2016 | ||
|---|---|---|---|---|---|---|---|
| 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 | |||||||
| Alphabet Inc. | |||||||
| Cash Conversion Cycle, Sector | |||||||
| Media & Entertainment | |||||||
| Cash Conversion Cycle, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-10-01).
1 2021 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. | Walt Disney Co. cash conversion cycle improved from 2019 to 2020 and from 2020 to 2021. |