Analysis of Long-term (Investment) Activity Ratios
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)
CSX Corp., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | CSX Corp. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| 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). | CSX Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | CSX Corp. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | CSX Corp. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Net Fixed Asset Turnover
CSX Corp., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 14,853) | 12,522) | 10,583) | 11,937) | 12,250) | |
| Properties, net | 34,242) | 33,015) | 32,444) | 32,168) | 31,998) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 0.43 | 0.38 | 0.33 | 0.37 | 0.38 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| FedEx Corp. | 2.45 | 2.35 | 2.06 | 2.29 | — | |
| Uber Technologies Inc. | 15.31 | 9.42 | 6.14 | 8.17 | — | |
| Union Pacific Corp. | 0.44 | 0.40 | 0.36 | 0.40 | — | |
| United Parcel Service Inc. | 2.89 | 2.91 | 2.62 | 2.43 | — | |
| Net Fixed Asset Turnover, Sector | ||||||
| Transportation | 1.91 | 1.75 | 1.51 | 1.54 | — | |
| Net Fixed Asset Turnover, Industry | ||||||
| Industrials | 3.22 | 3.04 | 2.41 | 2.76 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Net fixed asset turnover = Revenue ÷ Properties, net
= 14,853 ÷ 34,242 = 0.43
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. | CSX Corp. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
CSX Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 14,853) | 12,522) | 10,583) | 11,937) | 12,250) | |
| Properties, net | 34,242) | 33,015) | 32,444) | 32,168) | 31,998) | |
| Right of use operating lease asset | 505) | 501) | 472) | 532) | —) | |
| Properties, net (including operating lease, right-of-use asset) | 34,747) | 33,516) | 32,916) | 32,700) | 31,998) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 0.43 | 0.37 | 0.32 | 0.37 | 0.38 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| FedEx Corp. | 1.71 | 1.64 | 1.46 | 2.29 | — | |
| Uber Technologies Inc. | 9.03 | 5.39 | 3.61 | 4.25 | — | |
| Union Pacific Corp. | 0.43 | 0.38 | 0.35 | 0.39 | — | |
| United Parcel Service Inc. | 2.61 | 2.63 | 2.40 | 2.22 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Transportation | 1.62 | 1.49 | 1.30 | 1.46 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Industrials | 2.77 | 2.62 | 2.13 | 2.57 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Properties, net (including operating lease, right-of-use asset)
= 14,853 ÷ 34,747 = 0.43
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). | CSX Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022. |
Total Asset Turnover
CSX Corp., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 14,853) | 12,522) | 10,583) | 11,937) | 12,250) | |
| Total assets | 41,912) | 40,531) | 39,793) | 38,257) | 36,729) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.35 | 0.31 | 0.27 | 0.31 | 0.33 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| FedEx Corp. | 1.09 | 1.01 | 0.94 | 1.28 | — | |
| Uber Technologies Inc. | 0.99 | 0.45 | 0.33 | 0.45 | — | |
| Union Pacific Corp. | 0.38 | 0.34 | 0.31 | 0.35 | — | |
| United Parcel Service Inc. | 1.41 | 1.40 | 1.36 | 1.28 | — | |
| Total Asset Turnover, Sector | ||||||
| Transportation | 0.98 | 0.87 | 0.80 | 0.87 | — | |
| Total Asset Turnover, Industry | ||||||
| Industrials | 0.66 | 0.60 | 0.51 | 0.61 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Total asset turnover = Revenue ÷ Total assets
= 14,853 ÷ 41,912 = 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. | CSX Corp. total asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Equity Turnover
CSX Corp., equity turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 14,853) | 12,522) | 10,583) | 11,937) | 12,250) | |
| Shareholders’ equity, attributable to CSX | 12,615) | 13,490) | 13,101) | 11,848) | 12,563) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 1.18 | 0.93 | 0.81 | 1.01 | 0.98 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| FedEx Corp. | 3.75 | 3.47 | 3.78 | 3.92 | — | |
| Uber Technologies Inc. | 4.34 | 1.21 | 0.91 | 1.00 | — | |
| Union Pacific Corp. | 2.05 | 1.54 | 1.15 | 1.20 | — | |
| United Parcel Service Inc. | 5.07 | 6.83 | 128.81 | 22.68 | — | |
| Equity Turnover, Sector | ||||||
| Transportation | 3.90 | 3.29 | 3.83 | 3.37 | — | |
| Equity Turnover, Industry | ||||||
| Industrials | 2.94 | 2.58 | 2.75 | 3.53 | — | |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Equity turnover = Revenue ÷ Shareholders’ equity, attributable to CSX
= 14,853 ÷ 12,615 = 1.18
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. | CSX Corp. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |