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.
Short-term Activity Ratios (Summary)
Fiserv Inc., short-term (operating) activity ratios
Based on: 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), 10-K (reporting date: 2017-12-31).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Fiserv Inc. 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. | Fiserv Inc. payables turnover ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Fiserv Inc. working capital turnover ratio improved from 2019 to 2020 and from 2020 to 2021. |
| 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. | Fiserv Inc. number of days of receivables outstanding improved from 2019 to 2020 but then slightly deteriorated 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. |
Receivables Turnover
Fiserv Inc., receivables turnover calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 16,226) | 14,852) | 10,187) | 5,823) | 5,696) | |
| Trade accounts receivable, less allowance for doubtful accounts | 2,860) | 2,482) | 2,782) | 1,049) | 997) | |
| Short-term Activity Ratio | ||||||
| Receivables turnover1 | 5.67 | 5.98 | 3.66 | 5.55 | 5.71 | |
| Benchmarks | ||||||
| Receivables Turnover, Competitors2 | ||||||
| Accenture PLC | 5.74 | 6.16 | 5.79 | — | — | |
| Adobe Inc. | 8.41 | 9.20 | 7.28 | 6.86 | — | |
| Autodesk Inc. | 5.89 | 5.02 | 5.42 | — | — | |
| Cadence Design Systems Inc. | 8.85 | 7.93 | 7.67 | — | — | |
| CrowdStrike Holdings Inc. | 3.66 | 2.92 | — | — | — | |
| International Business Machines Corp. | 8.49 | 10.32 | 9.80 | — | — | |
| Intuit Inc. | 24.64 | 51.54 | 77.98 | — | — | |
| Microsoft Corp. | 4.42 | 4.47 | 4.26 | — | — | |
| Oracle Corp. | 7.48 | 7.04 | 7.69 | — | — | |
| Palo Alto Networks Inc. | 3.43 | 3.29 | 4.98 | — | — | |
| Salesforce Inc. | 2.73 | 2.77 | 2.70 | — | — | |
| ServiceNow Inc. | 4.24 | 4.48 | 4.14 | — | — | |
| Synopsys Inc. | 7.40 | 4.72 | 6.07 | 5.63 | — | |
| Receivables Turnover, Sector | ||||||
| Software & Services | 5.24 | 5.59 | 5.59 | — | — | |
| Receivables Turnover, Industry | ||||||
| Information Technology | 7.55 | 8.00 | 7.59 | — | — | |
Based on: 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), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Receivables turnover = Revenue ÷ Trade accounts receivable, less allowance for doubtful accounts
= 16,226 ÷ 2,860 = 5.67
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. | Fiserv Inc. receivables turnover ratio improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Payables Turnover
Fiserv Inc., payables turnover calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Cost of revenue | 8,128) | 7,812) | 5,309) | 3,069) | 3,024) | |
| Trade accounts payable | 593) | 437) | 392) | 127) | 80) | |
| Short-term Activity Ratio | ||||||
| Payables turnover1 | 13.71 | 17.88 | 13.54 | 24.17 | 37.80 | |
| Benchmarks | ||||||
| Payables Turnover, Competitors2 | ||||||
| Accenture PLC | 15.03 | 22.48 | 18.16 | — | — | |
| Adobe Inc. | 5.98 | 5.63 | 7.98 | 6.42 | — | |
| Autodesk Inc. | 2.75 | 3.88 | 2.81 | — | — | |
| Cadence Design Systems Inc. | — | — | — | — | — | |
| CrowdStrike Holdings Inc. | 19.03 | 105.30 | — | — | — | |
| International Business Machines Corp. | 6.54 | 7.75 | 8.30 | — | — | |
| Intuit Inc. | 2.70 | 4.52 | 4.26 | — | — | |
| Microsoft Corp. | 3.44 | 3.68 | 4.57 | — | — | |
| Oracle Corp. | 10.54 | 12.46 | 13.78 | — | — | |
| Palo Alto Networks Inc. | 22.41 | 15.72 | 11.03 | — | — | |
| Salesforce Inc. | — | — | — | — | — | |
| ServiceNow Inc. | 15.20 | 28.83 | 15.04 | — | — | |
| Synopsys Inc. | 31.44 | 26.49 | 38.00 | 8.65 | — | |
| Payables Turnover, Sector | ||||||
| Software & Services | 5.71 | 6.58 | 7.58 | — | — | |
| Payables Turnover, Industry | ||||||
| Information Technology | 4.99 | 5.35 | 5.27 | — | — | |
Based on: 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), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Payables turnover = Cost of revenue ÷ Trade accounts payable
= 8,128 ÷ 593 = 13.71
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. | Fiserv Inc. payables turnover ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level. |
Working Capital Turnover
Fiserv Inc., working capital turnover calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Current assets | 18,870) | 16,219) | 17,046) | 2,224) | 1,975) | |
| Less: Current liabilities | 18,295) | 15,637) | 15,727) | 2,010) | 1,938) | |
| Working capital | 575) | 582) | 1,319) | 214) | 37) | |
| Revenue | 16,226) | 14,852) | 10,187) | 5,823) | 5,696) | |
| Short-term Activity Ratio | ||||||
| Working capital turnover1 | 28.22 | 25.52 | 7.72 | 27.21 | 153.95 | |
| Benchmarks | ||||||
| Working Capital Turnover, Competitors2 | ||||||
| Accenture PLC | 12.77 | 8.71 | 9.85 | — | — | |
| Adobe Inc. | 9.09 | 4.89 | — | 16.24 | — | |
| Autodesk Inc. | — | — | — | — | — | |
| Cadence Design Systems Inc. | 4.01 | 3.94 | 4.70 | — | — | |
| CrowdStrike Holdings Inc. | 0.61 | 0.71 | — | — | — | |
| International Business Machines Corp. | — | — | 107.30 | — | — | |
| Intuit Inc. | 3.85 | 1.73 | 4.17 | — | — | |
| Microsoft Corp. | 1.76 | 1.30 | 1.19 | — | — | |
| Oracle Corp. | 1.29 | 1.12 | 1.42 | — | — | |
| Palo Alto Networks Inc. | — | 1.40 | 1.80 | — | — | |
| Salesforce Inc. | 5.11 | 15.29 | — | — | — | |
| ServiceNow Inc. | 21.76 | 5.76 | 46.69 | — | — | |
| Synopsys Inc. | 10.65 | 9.00 | — | — | — | |
| Working Capital Turnover, Sector | ||||||
| Software & Services | 2.81 | 2.20 | 2.37 | — | — | |
| Working Capital Turnover, Industry | ||||||
| Information Technology | 3.86 | 2.86 | 3.06 | — | — | |
Based on: 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), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Working capital turnover = Revenue ÷ Working capital
= 16,226 ÷ 575 = 28.22
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. | Fiserv Inc. working capital turnover ratio improved from 2019 to 2020 and from 2020 to 2021. |
Average Receivable Collection Period
Fiserv Inc., average receivable collection period calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Receivables turnover | 5.67 | 5.98 | 3.66 | 5.55 | 5.71 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average receivable collection period1 | 64 | 61 | 100 | 66 | 64 | |
| Benchmarks (no. days) | ||||||
| Average Receivable Collection Period, Competitors2 | ||||||
| Accenture PLC | 64 | 59 | 63 | — | — | |
| Adobe Inc. | 43 | 40 | 50 | 53 | — | |
| Autodesk Inc. | 62 | 73 | 67 | — | — | |
| Cadence Design Systems Inc. | 41 | 46 | 48 | — | — | |
| CrowdStrike Holdings Inc. | 100 | 125 | — | — | — | |
| International Business Machines Corp. | 43 | 35 | 37 | — | — | |
| Intuit Inc. | 15 | 7 | 5 | — | — | |
| Microsoft Corp. | 83 | 82 | 86 | — | — | |
| Oracle Corp. | 49 | 52 | 47 | — | — | |
| Palo Alto Networks Inc. | 106 | 111 | 73 | — | — | |
| Salesforce Inc. | 134 | 132 | 135 | — | — | |
| ServiceNow Inc. | 86 | 82 | 88 | — | — | |
| Synopsys Inc. | 49 | 77 | 60 | 65 | — | |
| Average Receivable Collection Period, Sector | ||||||
| Software & Services | 70 | 65 | 65 | — | — | |
| Average Receivable Collection Period, Industry | ||||||
| Information Technology | 48 | 46 | 48 | — | — | |
Based on: 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), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 5.67 = 64
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. | Fiserv Inc. number of days of receivables outstanding improved from 2019 to 2020 but then slightly deteriorated from 2020 to 2021. |
Average Payables Payment Period
Fiserv Inc., average payables payment period calculation, comparison to benchmarks
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Payables turnover | 13.71 | 17.88 | 13.54 | 24.17 | 37.80 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average payables payment period1 | 27 | 20 | 27 | 15 | 10 | |
| Benchmarks (no. days) | ||||||
| Average Payables Payment Period, Competitors2 | ||||||
| Accenture PLC | 24 | 16 | 20 | — | — | |
| Adobe Inc. | 61 | 65 | 46 | 57 | — | |
| Autodesk Inc. | 133 | 94 | 130 | — | — | |
| Cadence Design Systems Inc. | — | — | — | — | — | |
| CrowdStrike Holdings Inc. | 19 | 3 | — | — | — | |
| International Business Machines Corp. | 56 | 47 | 44 | — | — | |
| Intuit Inc. | 135 | 81 | 86 | — | — | |
| Microsoft Corp. | 106 | 99 | 80 | — | — | |
| Oracle Corp. | 35 | 29 | 26 | — | — | |
| Palo Alto Networks Inc. | 16 | 23 | 33 | — | — | |
| Salesforce Inc. | — | — | — | — | — | |
| ServiceNow Inc. | 24 | 13 | 24 | — | — | |
| Synopsys Inc. | 12 | 14 | 10 | 42 | — | |
| Average Payables Payment Period, Sector | ||||||
| Software & Services | 64 | 55 | 48 | — | — | |
| Average Payables Payment Period, Industry | ||||||
| Information Technology | 73 | 68 | 69 | — | — | |
Based on: 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), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 13.71 = 27
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. |