Stock Analysis on Net

CSX Corp. (NASDAQ:CSX)

This company has been moved to the archive! The financial data has not been updated since April 20, 2023.

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

CSX Corp., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Turnover Ratios
Inventory turnover 38.44 43.56 39.86 36.80 37.38 36.94 39.34 39.02 35.37 35.04 42.07 44.61 45.83 45.74 51.89 55.61 51.40 46.58
Receivables turnover 11.00 11.31 9.92 9.37 10.28 10.91 8.99 9.46 11.01 11.60 10.86 12.76 11.69 12.11 11.08 11.11 11.20 12.13
Payables turnover 12.59 13.14 12.63 13.22 12.50 13.00 12.26 12.83 12.27 13.08 10.21 11.43 11.13 11.44 11.08 12.48 12.16 12.91
Working capital turnover 14.65 10.78 8.07 35.67 11.10 7.64 7.32 4.30 4.21 4.37 5.50 7.60 7.32 10.59 10.56 10.90 7.98 18.85
Average No. Days
Average inventory processing period 9 8 9 10 10 10 9 9 10 10 9 8 8 8 7 7 7 8
Add: Average receivable collection period 33 32 37 39 36 33 41 39 33 31 34 29 31 30 33 33 33 30
Operating cycle 42 40 46 49 46 43 50 48 43 41 43 37 39 38 40 40 40 38
Less: Average payables payment period 29 28 29 28 29 28 30 28 30 28 36 32 33 32 33 29 30 28
Cash conversion cycle 13 12 17 21 17 15 20 20 13 13 7 5 6 6 7 11 10 10

Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. CSX Corp. inventory turnover ratio improved from Q3 2022 to Q4 2022 but then deteriorated significantly from Q4 2022 to Q1 2023.
Receivables turnover An activity ratio equal to revenue divided by receivables. CSX Corp. receivables turnover ratio improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. CSX Corp. payables turnover ratio increased from Q3 2022 to Q4 2022 but then decreased significantly from Q4 2022 to Q1 2023.
Working capital turnover An activity ratio calculated as revenue divided by working capital. CSX Corp. working capital turnover ratio improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.

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. CSX Corp. number of days of receivables outstanding improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023.
Operating cycle Equal to average inventory processing period plus average receivables collection period. CSX Corp. operating cycle improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023.
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. CSX Corp. cash conversion cycle improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023.

Inventory Turnover

CSX Corp., inventory turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in millions)
Revenue 3,706 3,730 3,895 3,815 3,413 3,427 3,292 2,990 2,813 2,825 2,648 2,255 2,855 2,885 2,978 3,061 3,013 3,143 3,129 3,102 2,876
Materials and supplies 394 341 365 379 351 339 303 289 298 302 253 246 257 261 235 222 241 263 283 326 369
Short-term Activity Ratio
Inventory turnover1 38.44 43.56 39.86 36.80 37.38 36.94 39.34 39.02 35.37 35.04 42.07 44.61 45.83 45.74 51.89 55.61 51.40 46.58
Benchmarks
Inventory Turnover, Competitors2
FedEx Corp. 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. 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-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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Inventory turnover = (RevenueQ1 2023 + RevenueQ4 2022 + RevenueQ3 2022 + RevenueQ2 2022) ÷ Materials and supplies
= (3,706 + 3,730 + 3,895 + 3,815) ÷ 394 = 38.44

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. CSX Corp. inventory turnover ratio improved from Q3 2022 to Q4 2022 but then deteriorated significantly from Q4 2022 to Q1 2023.

Receivables Turnover

CSX Corp., receivables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in millions)
Revenue 3,706 3,730 3,895 3,815 3,413 3,427 3,292 2,990 2,813 2,825 2,648 2,255 2,855 2,885 2,978 3,061 3,013 3,143 3,129 3,102 2,876
Accounts receivable, net 1,377 1,313 1,467 1,489 1,277 1,148 1,326 1,192 957 912 980 860 1,008 986 1,101 1,111 1,106 1,010 1,090 1,036 1,045
Short-term Activity Ratio
Receivables turnover1 11.00 11.31 9.92 9.37 10.28 10.91 8.99 9.46 11.01 11.60 10.86 12.76 11.69 12.11 11.08 11.11 11.20 12.13
Benchmarks
Receivables Turnover, Competitors2
FedEx Corp. 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. 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. 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. 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-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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Receivables turnover = (RevenueQ1 2023 + RevenueQ4 2022 + RevenueQ3 2022 + RevenueQ2 2022) ÷ Accounts receivable, net
= (3,706 + 3,730 + 3,895 + 3,815) ÷ 1,377 = 11.00

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. CSX Corp. receivables turnover ratio improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023.

Payables Turnover

CSX Corp., payables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in millions)
Revenue 3,706 3,730 3,895 3,815 3,413 3,427 3,292 2,990 2,813 2,825 2,648 2,255 2,855 2,885 2,978 3,061 3,013 3,143 3,129 3,102 2,876
Accounts payable 1,203 1,130 1,152 1,055 1,050 963 972 879 859 809 1,042 960 1,058 1,043 1,101 989 1,019 949 982 852 905
Short-term Activity Ratio
Payables turnover1 12.59 13.14 12.63 13.22 12.50 13.00 12.26 12.83 12.27 13.08 10.21 11.43 11.13 11.44 11.08 12.48 12.16 12.91
Benchmarks
Payables Turnover, Competitors2
FedEx Corp. 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. 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. 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-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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Payables turnover = (RevenueQ1 2023 + RevenueQ4 2022 + RevenueQ3 2022 + RevenueQ2 2022) ÷ Accounts payable
= (3,706 + 3,730 + 3,895 + 3,815) ÷ 1,203 = 12.59

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. CSX Corp. payables turnover ratio increased from Q3 2022 to Q4 2022 but then decreased significantly from Q4 2022 to Q1 2023.

Working Capital Turnover

CSX Corp., working capital turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in millions)
Current assets 3,355 3,849 4,310 2,784 3,757 3,873 3,897 4,573 4,305 4,441 4,228 3,791 3,821 3,278 3,960 3,186 3,479 2,565 2,784 2,881 3,542
Less: Current liabilities 2,321 2,471 2,508 2,393 2,575 2,233 2,268 1,951 1,800 2,019 2,294 2,347 2,211 2,151 2,805 2,053 1,926 1,915 1,944 1,732 1,891
Working capital 1,034 1,378 1,802 391 1,182 1,640 1,629 2,622 2,505 2,422 1,934 1,444 1,610 1,127 1,155 1,133 1,553 650 840 1,149 1,651
 
Revenue 3,706 3,730 3,895 3,815 3,413 3,427 3,292 2,990 2,813 2,825 2,648 2,255 2,855 2,885 2,978 3,061 3,013 3,143 3,129 3,102 2,876
Short-term Activity Ratio
Working capital turnover1 14.65 10.78 8.07 35.67 11.10 7.64 7.32 4.30 4.21 4.37 5.50 7.60 7.32 10.59 10.56 10.90 7.98 18.85
Benchmarks
Working Capital Turnover, Competitors2
FedEx Corp. 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. 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. 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-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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Working capital turnover = (RevenueQ1 2023 + RevenueQ4 2022 + RevenueQ3 2022 + RevenueQ2 2022) ÷ Working capital
= (3,706 + 3,730 + 3,895 + 3,815) ÷ 1,034 = 14.65

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. CSX Corp. working capital turnover ratio improved from Q3 2022 to Q4 2022 and from Q4 2022 to Q1 2023.

Average Inventory Processing Period

CSX Corp., average inventory processing period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data
Inventory turnover 38.44 43.56 39.86 36.80 37.38 36.94 39.34 39.02 35.37 35.04 42.07 44.61 45.83 45.74 51.89 55.61 51.40 46.58
Short-term Activity Ratio (no. days)
Average inventory processing period1 9 8 9 10 10 10 9 9 10 10 9 8 8 8 7 7 7 8
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
FedEx Corp. 2 2 2 2 2 3 3 3 3 3 3 3 3 3
Union Pacific Corp. 11 11 12 12 12 10 11 12 12 12 12 12 12 13

Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 38.44 = 9

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

CSX Corp., average receivable collection period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data
Receivables turnover 11.00 11.31 9.92 9.37 10.28 10.91 8.99 9.46 11.01 11.60 10.86 12.76 11.69 12.11 11.08 11.11 11.20 12.13
Short-term Activity Ratio (no. days)
Average receivable collection period1 33 32 37 39 36 33 41 39 33 31 34 29 31 30 33 33 33 30
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
FedEx Corp. 43 46 46 50 47 52 53 56 54 53 49 51 49 48
Uber Technologies Inc. 28 32 31 35 42 51 33 34 36 35 23 17 17 31
Union Pacific Corp. 28 28 31 32 32 29 29 30 30 28 29 25 28 27
United Parcel Service Inc. 38 46 40 42 41 47 40 40 41 46 41 44 40 47

Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 11.00 = 33

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. CSX Corp. number of days of receivables outstanding improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023.

Operating Cycle

CSX Corp., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data
Average inventory processing period 9 8 9 10 10 10 9 9 10 10 9 8 8 8 7 7 7 8
Average receivable collection period 33 32 37 39 36 33 41 39 33 31 34 29 31 30 33 33 33 30
Short-term Activity Ratio
Operating cycle1 42 40 46 49 46 43 50 48 43 41 43 37 39 38 40 40 40 38
Benchmarks
Operating Cycle, Competitors2
FedEx Corp. 45 48 48 52 49 55 56 59 57 56 52 54 52 51
Union Pacific Corp. 39 39 43 44 44 39 40 42 42 40 41 37 40 40

Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 9 + 33 = 42

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. CSX Corp. operating cycle improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023.

Average Payables Payment Period

CSX Corp., average payables payment period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data
Payables turnover 12.59 13.14 12.63 13.22 12.50 13.00 12.26 12.83 12.27 13.08 10.21 11.43 11.13 11.44 11.08 12.48 12.16 12.91
Short-term Activity Ratio (no. days)
Average payables payment period1 29 28 29 28 29 28 30 28 30 28 36 32 33 32 33 29 30 28
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
FedEx Corp. 16 16 17 17 16 17 18 18 17 17 17 17 17 16
Uber Technologies Inc. 12 14 16 20 27 34 15 24 16 17 16 15 11 14
United Parcel Service Inc. 23 27 24 26 26 28 25 26 26 28 25 25 23 27

Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 12.59 = 29

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

CSX Corp., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data
Average inventory processing period 9 8 9 10 10 10 9 9 10 10 9 8 8 8 7 7 7 8
Average receivable collection period 33 32 37 39 36 33 41 39 33 31 34 29 31 30 33 33 33 30
Average payables payment period 29 28 29 28 29 28 30 28 30 28 36 32 33 32 33 29 30 28
Short-term Activity Ratio
Cash conversion cycle1 13 12 17 21 17 15 20 20 13 13 7 5 6 6 7 11 10 10
Benchmarks
Cash Conversion Cycle, Competitors2
FedEx Corp. 29 32 31 35 33 38 38 41 40 39 35 37 35 35

Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 9 + 3329 = 13

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. CSX Corp. cash conversion cycle improved from Q3 2022 to Q4 2022 but then slightly deteriorated from Q4 2022 to Q1 2023.