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-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).
Short-term activity ratio | Description | The company |
---|---|---|
Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | American Airlines Group Inc. inventory turnover ratio deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023. |
Receivables turnover | An activity ratio equal to revenue divided by receivables. | American Airlines Group Inc. receivables turnover ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023. |
Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | American Airlines Group Inc. payables turnover ratio increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |
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. | |
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. | |
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. | |
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. | American Airlines Group Inc. cash conversion cycle deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023. |
Inventory Turnover
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 | |||||||
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Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Operating revenues | 13,062) | 13,482) | 14,055) | 12,189) | 13,188) | 13,462) | 13,422) | 8,899) | 9,427) | 8,969) | 7,478) | 4,008) | 4,027) | 3,173) | 1,622) | 8,515) | 11,313) | 11,911) | 11,960) | 10,584) | ||||||
Aircraft fuel, spare parts and supplies, net | 2,400) | 2,461) | 2,280) | 2,308) | 2,279) | 2,215) | 2,273) | 2,002) | 1,795) | 1,851) | 1,789) | 1,658) | 1,614) | 1,633) | 1,653) | 1,772) | 1,851) | 1,800) | 1,708) | 1,666) | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Inventory turnover1 | 22.00 | 21.50 | 23.20 | 22.64 | 21.49 | 20.41 | 17.91 | 17.37 | 16.65 | 13.23 | 10.44 | 7.74 | 10.74 | 15.08 | 20.18 | 24.66 | 24.73 | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||
FedEx Corp. | 149.26 | 146.78 | 143.65 | 146.45 | 146.80 | 150.05 | 150.76 | 150.16 | 143.03 | 135.08 | 127.31 | 120.56 | 121.01 | 122.65 | 120.12 | 121.41 | 126.03 | — | — | — | ||||||
Union Pacific Corp. | 32.46 | 31.35 | 33.38 | 34.44 | 33.57 | 30.77 | 29.66 | 31.22 | 35.11 | 31.95 | 29.89 | 29.29 | 30.62 | 30.21 | 30.24 | 31.15 | 28.91 | — | — | — |
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
Inventory turnover
= (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
÷ Aircraft fuel, spare parts and supplies, net
= (13,062 + 13,482 + 14,055 + 12,189)
÷ 2,400 = 22.00
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. | American Airlines Group Inc. inventory turnover ratio deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023. |
Receivables Turnover
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 | 13,062) | 13,482) | 14,055) | 12,189) | 13,188) | 13,462) | 13,422) | 8,899) | 9,427) | 8,969) | 7,478) | 4,008) | 4,027) | 3,173) | 1,622) | 8,515) | 11,313) | 11,911) | 11,960) | 10,584) | ||||||
Accounts receivable, net | 2,026) | 2,021) | 2,073) | 1,989) | 2,138) | 1,991) | 1,835) | 1,537) | 1,505) | 1,332) | 1,249) | 971) | 1,342) | 1,135) | 879) | 1,020) | 1,750) | 1,850) | 1,943) | 1,876) | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Receivables turnover1 | 26.06 | 26.18 | 25.52 | 26.28 | 22.91 | 22.71 | 22.19 | 22.62 | 19.86 | 18.38 | 14.96 | 13.21 | 12.92 | 21.69 | 37.95 | 42.84 | 26.15 | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||
FedEx Corp. | 8.85 | 8.64 | 8.08 | 8.57 | 7.88 | 7.86 | 7.34 | 7.79 | 6.96 | 6.86 | 6.55 | 6.80 | 6.85 | 7.47 | 7.13 | 7.48 | 7.65 | — | — | — | ||||||
Uber Technologies Inc. | 10.95 | 11.98 | 13.59 | 13.16 | 11.47 | 11.77 | 10.39 | 8.65 | 7.16 | 11.13 | 10.67 | 10.04 | 10.38 | 15.58 | 21.59 | 20.93 | 11.65 | — | — | — | ||||||
Union Pacific Corp. | 11.63 | 12.48 | 13.56 | 12.82 | 13.15 | 11.90 | 11.42 | 11.57 | 12.66 | 12.63 | 12.34 | 11.99 | 12.98 | 12.53 | 14.55 | 12.91 | 13.61 | — | — | — | ||||||
United Parcel Service Inc. | 8.11 | 9.84 | 10.03 | 9.60 | 7.97 | 9.21 | 8.78 | 8.82 | 7.76 | 9.01 | 9.12 | 8.84 | 7.87 | 8.93 | 8.38 | 9.23 | 7.76 | — | — | — |
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
Receivables turnover
= (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
÷ Accounts receivable, net
= (13,062 + 13,482 + 14,055 + 12,189)
÷ 2,026 = 26.06
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. | American Airlines Group Inc. receivables turnover ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023. |
Payables Turnover
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 | |||||||
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Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Operating revenues | 13,062) | 13,482) | 14,055) | 12,189) | 13,188) | 13,462) | 13,422) | 8,899) | 9,427) | 8,969) | 7,478) | 4,008) | 4,027) | 3,173) | 1,622) | 8,515) | 11,313) | 11,911) | 11,960) | 10,584) | ||||||
Accounts payable | 2,353) | 2,123) | 2,406) | 2,455) | 2,149) | 2,117) | 2,733) | 2,546) | 1,772) | 1,835) | 2,172) | 1,624) | 1,196) | 1,077) | 1,175) | 1,648) | 2,062) | 1,932) | 2,118) | 2,139) | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Payables turnover1 | 22.43 | 24.92 | 21.98 | 21.29 | 22.79 | 21.36 | 14.90 | 13.66 | 16.86 | 13.34 | 8.60 | 7.90 | 14.50 | 22.86 | 28.39 | 26.52 | 22.20 | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Payables Turnover, Competitors2 | ||||||||||||||||||||||||||
FedEx Corp. | 23.43 | 23.23 | 23.59 | 22.74 | 23.20 | 21.90 | 21.37 | 22.67 | 21.86 | 19.74 | 20.02 | 21.41 | 21.17 | 21.82 | 21.07 | 21.92 | 23.00 | — | — | — | ||||||
Uber Technologies Inc. | 28.43 | 27.17 | 30.63 | 29.34 | 27.00 | 22.55 | 18.17 | 13.53 | 10.87 | 24.80 | 15.26 | 23.16 | 21.93 | 23.50 | 24.51 | 32.64 | 26.50 | — | — | — | ||||||
United Parcel Service Inc. | 14.35 | 15.59 | 15.81 | 15.69 | 13.36 | 15.02 | 13.96 | 14.04 | 12.93 | 14.65 | 14.09 | 14.20 | 13.11 | 14.32 | 14.68 | 15.69 | 13.34 | — | — | — |
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
Payables turnover
= (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
÷ Accounts payable
= (13,062 + 13,482 + 14,055 + 12,189)
÷ 2,353 = 22.43
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. | American Airlines Group Inc. payables turnover ratio increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |
Working Capital Turnover
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 | |||||||
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Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
Current assets | 13,572) | 16,708) | 18,220) | 17,652) | 15,269) | 17,377) | 18,525) | 17,762) | 17,336) | 19,195) | 22,647) | 18,089) | 11,095) | 12,340) | 13,789) | 7,175) | 8,206) | 9,572) | 9,850) | 8,654) | ||||||
Less: Current liabilities | 22,062) | 24,380) | 24,316) | 24,590) | 21,496) | 21,970) | 22,770) | 21,866) | 19,006) | 18,938) | 21,521) | 17,333) | 16,569) | 16,584) | 18,000) | 19,213) | 18,311) | 19,560) | 20,123) | 19,849) | ||||||
Working capital | (8,490) | (7,672) | (6,096) | (6,938) | (6,227) | (4,593) | (4,245) | (4,104) | (1,670) | 257) | 1,126) | 756) | (5,474) | (4,244) | (4,211) | (12,038) | (10,105) | (9,988) | (10,273) | (11,195) | ||||||
Operating revenues | 13,062) | 13,482) | 14,055) | 12,189) | 13,188) | 13,462) | 13,422) | 8,899) | 9,427) | 8,969) | 7,478) | 4,008) | 4,027) | 3,173) | 1,622) | 8,515) | 11,313) | 11,911) | 11,960) | 10,584) | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Working capital turnover1 | — | — | — | — | — | — | — | — | — | 95.26 | 16.60 | 16.97 | — | — | — | — | — | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||
FedEx Corp. | 17.94 | 21.22 | 22.52 | 16.22 | 15.35 | 16.74 | 13.05 | 13.06 | 12.13 | 9.67 | 8.17 | 9.27 | 11.46 | 31.44 | 26.10 | 22.61 | 17.11 | — | — | — | ||||||
Uber Technologies Inc. | 20.23 | 28.22 | 17.25 | 65.98 | 80.50 | 83.47 | — | 1,646.62 | — | 9.53 | 129.39 | 10.72 | 3.69 | 4.83 | 3.46 | 3.19 | 1.71 | — | — | — | ||||||
Union Pacific Corp. | — | — | — | — | — | — | — | — | — | — | — | — | 476.41 | 67.83 | — | — | — | — | — | — | ||||||
United Parcel Service Inc. | 52.36 | 27.10 | 20.23 | 18.10 | 24.61 | 14.61 | 12.16 | 11.27 | 13.21 | 12.81 | 14.87 | 19.13 | 26.45 | 17.95 | 19.57 | 21.16 | 43.84 | — | — | — |
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
Working capital turnover
= (Operating revenuesQ4 2023
+ Operating revenuesQ3 2023
+ Operating revenuesQ2 2023
+ Operating revenuesQ1 2023)
÷ Working capital
= (13,062 + 13,482 + 14,055 + 12,189)
÷ -8,490 = —
2 Click competitor name to see calculations.
Average Inventory Processing Period
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 | ||||||||||||||||||||||||||
Inventory turnover | 22.00 | 21.50 | 23.20 | 22.64 | 21.49 | 20.41 | 17.91 | 17.37 | 16.65 | 13.23 | 10.44 | 7.74 | 10.74 | 15.08 | 20.18 | 24.66 | 24.73 | — | — | — | ||||||
Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
Average inventory processing period1 | 17 | 17 | 16 | 16 | 17 | 18 | 20 | 21 | 22 | 28 | 35 | 47 | 34 | 24 | 18 | 15 | 15 | — | — | — | ||||||
Benchmarks (no. days) | ||||||||||||||||||||||||||
Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||
FedEx Corp. | 2 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | — | — | — | ||||||
Union Pacific Corp. | 11 | 12 | 11 | 11 | 11 | 12 | 12 | 12 | 10 | 11 | 12 | 12 | 12 | 12 | 12 | 12 | 13 | — | — | — |
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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 22.00 = 17
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. |
Average Receivable Collection Period
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 | ||||||||||||||||||||||||||
Receivables turnover | 26.06 | 26.18 | 25.52 | 26.28 | 22.91 | 22.71 | 22.19 | 22.62 | 19.86 | 18.38 | 14.96 | 13.21 | 12.92 | 21.69 | 37.95 | 42.84 | 26.15 | — | — | — | ||||||
Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
Average receivable collection period1 | 14 | 14 | 14 | 14 | 16 | 16 | 16 | 16 | 18 | 20 | 24 | 28 | 28 | 17 | 10 | 9 | 14 | — | — | — | ||||||
Benchmarks (no. days) | ||||||||||||||||||||||||||
Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||
FedEx Corp. | 41 | 42 | 45 | 43 | 46 | 46 | 50 | 47 | 52 | 53 | 56 | 54 | 53 | 49 | 51 | 49 | 48 | — | — | — | ||||||
Uber Technologies Inc. | 33 | 30 | 27 | 28 | 32 | 31 | 35 | 42 | 51 | 33 | 34 | 36 | 35 | 23 | 17 | 17 | 31 | — | — | — | ||||||
Union Pacific Corp. | 31 | 29 | 27 | 28 | 28 | 31 | 32 | 32 | 29 | 29 | 30 | 30 | 28 | 29 | 25 | 28 | 27 | — | — | — | ||||||
United Parcel Service Inc. | 45 | 37 | 36 | 38 | 46 | 40 | 42 | 41 | 47 | 40 | 40 | 41 | 46 | 41 | 44 | 40 | 47 | — | — | — |
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 26.06 = 14
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 | 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 | ||||||||||||||||||||||||||
Average inventory processing period | 17 | 17 | 16 | 16 | 17 | 18 | 20 | 21 | 22 | 28 | 35 | 47 | 34 | 24 | 18 | 15 | 15 | — | — | — | ||||||
Average receivable collection period | 14 | 14 | 14 | 14 | 16 | 16 | 16 | 16 | 18 | 20 | 24 | 28 | 28 | 17 | 10 | 9 | 14 | — | — | — | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Operating cycle1 | 31 | 31 | 30 | 30 | 33 | 34 | 36 | 37 | 40 | 48 | 59 | 75 | 62 | 41 | 28 | 24 | 29 | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Operating Cycle, Competitors2 | ||||||||||||||||||||||||||
FedEx Corp. | 43 | 44 | 48 | 45 | 48 | 48 | 52 | 49 | 55 | 56 | 59 | 57 | 56 | 52 | 54 | 52 | 51 | — | — | — | ||||||
Union Pacific Corp. | 42 | 41 | 38 | 39 | 39 | 43 | 44 | 44 | 39 | 40 | 42 | 42 | 40 | 41 | 37 | 40 | 40 | — | — | — |
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
Operating cycle = Average inventory processing period + Average receivable collection period
= 17 + 14 = 31
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. |
Average Payables Payment Period
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 | |||||||
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Selected Financial Data | ||||||||||||||||||||||||||
Payables turnover | 22.43 | 24.92 | 21.98 | 21.29 | 22.79 | 21.36 | 14.90 | 13.66 | 16.86 | 13.34 | 8.60 | 7.90 | 14.50 | 22.86 | 28.39 | 26.52 | 22.20 | — | — | — | ||||||
Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
Average payables payment period1 | 16 | 15 | 17 | 17 | 16 | 17 | 24 | 27 | 22 | 27 | 42 | 46 | 25 | 16 | 13 | 14 | 16 | — | — | — | ||||||
Benchmarks (no. days) | ||||||||||||||||||||||||||
Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||
FedEx Corp. | 16 | 16 | 15 | 16 | 16 | 17 | 17 | 16 | 17 | 18 | 18 | 17 | 17 | 17 | 17 | 17 | 16 | — | — | — | ||||||
Uber Technologies Inc. | 13 | 13 | 12 | 12 | 14 | 16 | 20 | 27 | 34 | 15 | 24 | 16 | 17 | 16 | 15 | 11 | 14 | — | — | — | ||||||
United Parcel Service Inc. | 25 | 23 | 23 | 23 | 27 | 24 | 26 | 26 | 28 | 25 | 26 | 26 | 28 | 25 | 25 | 23 | 27 | — | — | — |
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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 22.43 = 16
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. |
Cash Conversion Cycle
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 | |||||||
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Selected Financial Data | ||||||||||||||||||||||||||
Average inventory processing period | 17 | 17 | 16 | 16 | 17 | 18 | 20 | 21 | 22 | 28 | 35 | 47 | 34 | 24 | 18 | 15 | 15 | — | — | — | ||||||
Average receivable collection period | 14 | 14 | 14 | 14 | 16 | 16 | 16 | 16 | 18 | 20 | 24 | 28 | 28 | 17 | 10 | 9 | 14 | — | — | — | ||||||
Average payables payment period | 16 | 15 | 17 | 17 | 16 | 17 | 24 | 27 | 22 | 27 | 42 | 46 | 25 | 16 | 13 | 14 | 16 | — | — | — | ||||||
Short-term Activity Ratio | ||||||||||||||||||||||||||
Cash conversion cycle1 | 15 | 16 | 13 | 13 | 17 | 17 | 12 | 10 | 18 | 21 | 17 | 29 | 37 | 25 | 15 | 10 | 13 | — | — | — | ||||||
Benchmarks | ||||||||||||||||||||||||||
Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||
FedEx Corp. | 27 | 28 | 33 | 29 | 32 | 31 | 35 | 33 | 38 | 38 | 41 | 40 | 39 | 35 | 37 | 35 | 35 | — | — | — |
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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 17 + 14 – 16 = 15
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. | American Airlines Group Inc. cash conversion cycle deteriorated from Q2 2023 to Q3 2023 but then slightly improved from Q3 2023 to Q4 2023. |