Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
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)
Linde plc, short-term (operating) activity ratios (quarterly data)
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Linde plc inventory turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Linde plc receivables turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Linde plc payables turnover ratio increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| 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. | Linde plc number of days of receivables outstanding improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Linde plc operating cycle improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| 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. | Linde plc number of days of payables outstanding decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
| 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. |
Inventory Turnover
Linde plc, inventory turnover calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cost of sales, exclusive of depreciation and amortization | 4,320) | 4,356) | 4,251) | 4,216) | 4,431) | 4,314) | 4,316) | 4,431) | 4,427) | 5,285) | 4,940) | 4,798) | 4,927) | 4,368) | 4,194) | 4,054) | 4,086) | 3,835) | 3,619) | 3,843) | ||||||
| Inventories | 1,946) | 2,087) | 2,094) | 2,100) | 2,115) | 2,078) | 2,079) | 2,054) | 1,978) | 1,855) | 1,786) | 1,766) | 1,733) | 1,694) | 1,692) | 1,695) | 1,729) | 1,733) | 1,715) | 1,689) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Inventory turnover1 | 8.81 | 8.27 | 8.22 | 8.23 | 8.27 | 8.42 | 8.88 | 9.29 | 9.83 | 10.75 | 10.66 | 10.36 | 10.12 | 9.86 | 9.56 | 9.20 | 8.90 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||
| Sherwin-Williams Co. | 5.20 | 5.24 | 5.22 | 5.09 | 5.28 | 5.61 | 5.27 | 4.76 | 4.88 | 4.99 | 5.08 | 5.07 | 5.92 | 5.99 | 5.84 | 5.39 | 5.37 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2024 Calculation
Inventory turnover
= (Cost of sales, exclusive of depreciation and amortizationQ4 2024
+ Cost of sales, exclusive of depreciation and amortizationQ3 2024
+ Cost of sales, exclusive of depreciation and amortizationQ2 2024
+ Cost of sales, exclusive of depreciation and amortizationQ1 2024)
÷ Inventories
= (4,320 + 4,356 + 4,251 + 4,216)
÷ 1,946 = 8.81
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. | Linde plc inventory turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Receivables Turnover
Linde plc, receivables turnover calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Sales | 8,282) | 8,356) | 8,267) | 8,100) | 8,302) | 8,155) | 8,204) | 8,193) | 7,899) | 8,797) | 8,457) | 8,211) | 8,298) | 7,668) | 7,584) | 7,243) | 7,272) | 6,855) | 6,377) | 6,739) | ||||||
| Accounts receivable, net | 4,622) | 4,871) | 5,001) | 5,009) | 4,718) | 4,692) | 4,799) | 4,753) | 4,559) | 4,599) | 4,803) | 4,845) | 4,499) | 4,367) | 4,342) | 4,139) | 4,167) | 4,033) | 3,994) | 4,084) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Receivables turnover1 | 7.14 | 6.78 | 6.56 | 6.54 | 6.96 | 6.92 | 6.90 | 7.02 | 7.32 | 7.34 | 6.79 | 6.56 | 6.84 | 6.82 | 6.67 | 6.70 | 6.54 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Sherwin-Williams Co. | 9.67 | 7.75 | 7.55 | 8.18 | 9.34 | 7.83 | 7.36 | 7.77 | 8.64 | 7.48 | 6.97 | 7.29 | 8.48 | 7.57 | 7.58 | 7.82 | 8.84 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2024 Calculation
Receivables turnover
= (SalesQ4 2024
+ SalesQ3 2024
+ SalesQ2 2024
+ SalesQ1 2024)
÷ Accounts receivable, net
= (8,282 + 8,356 + 8,267 + 8,100)
÷ 4,622 = 7.14
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. | Linde plc receivables turnover ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Payables Turnover
Linde plc, payables turnover calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cost of sales, exclusive of depreciation and amortization | 4,320) | 4,356) | 4,251) | 4,216) | 4,431) | 4,314) | 4,316) | 4,431) | 4,427) | 5,285) | 4,940) | 4,798) | 4,927) | 4,368) | 4,194) | 4,054) | 4,086) | 3,835) | 3,619) | 3,843) | ||||||
| Accounts payable | 2,507) | 2,845) | 2,859) | 2,885) | 3,020) | 2,750) | 2,977) | 2,941) | 2,995) | 3,067) | 3,360) | 3,387) | 3,503) | 3,069) | 3,143) | 2,945) | 3,095) | 2,903) | 2,816) | 2,965) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Payables turnover1 | 6.84 | 6.06 | 6.02 | 5.99 | 5.79 | 6.36 | 6.20 | 6.49 | 6.49 | 6.50 | 5.66 | 5.40 | 5.01 | 5.44 | 5.14 | 5.30 | 4.97 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Sherwin-Williams Co. | 5.28 | 4.68 | 4.79 | 4.93 | 5.31 | 5.19 | 5.16 | 5.13 | 5.26 | 4.53 | 4.10 | 4.13 | 4.74 | 4.07 | 4.21 | 4.50 | 4.57 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2024 Calculation
Payables turnover
= (Cost of sales, exclusive of depreciation and amortizationQ4 2024
+ Cost of sales, exclusive of depreciation and amortizationQ3 2024
+ Cost of sales, exclusive of depreciation and amortizationQ2 2024
+ Cost of sales, exclusive of depreciation and amortizationQ1 2024)
÷ Accounts payable
= (4,320 + 4,356 + 4,251 + 4,216)
÷ 2,507 = 6.84
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. | Linde plc payables turnover ratio increased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Working Capital Turnover
Linde plc, working capital turnover calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 12,945) | 13,460) | 12,843) | 13,102) | 12,620) | 11,737) | 11,411) | 12,904) | 13,047) | 11,203) | 11,272) | 12,257) | 10,159) | 12,007) | 10,446) | 11,132) | 10,924) | 12,265) | 12,073) | 11,513) | ||||||
| Less: Current liabilities | 14,544) | 14,049) | 13,504) | 14,389) | 15,717) | 14,162) | 14,552) | 17,785) | 16,479) | 15,061) | 15,295) | 14,506) | 13,643) | 14,758) | 14,676) | 15,027) | 13,740) | 14,792) | 15,095) | 15,490) | ||||||
| Working capital | (1,599) | (589) | (661) | (1,287) | (3,097) | (2,425) | (3,141) | (4,881) | (3,432) | (3,858) | (4,023) | (2,249) | (3,484) | (2,751) | (4,230) | (3,895) | (2,816) | (2,527) | (3,022) | (3,977) | ||||||
| Sales | 8,282) | 8,356) | 8,267) | 8,100) | 8,302) | 8,155) | 8,204) | 8,193) | 7,899) | 8,797) | 8,457) | 8,211) | 8,298) | 7,668) | 7,584) | 7,243) | 7,272) | 6,855) | 6,377) | 6,739) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Working capital turnover1 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||
| Sherwin-Williams Co. | — | — | — | — | — | — | 1,996.60 | — | — | 1,022.67 | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2024 Calculation
Working capital turnover
= (SalesQ4 2024
+ SalesQ3 2024
+ SalesQ2 2024
+ SalesQ1 2024)
÷ Working capital
= (8,282 + 8,356 + 8,267 + 8,100)
÷ -1,599 = —
2 Click competitor name to see calculations.
Average Inventory Processing Period
Linde plc, average inventory processing period calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Inventory turnover | 8.81 | 8.27 | 8.22 | 8.23 | 8.27 | 8.42 | 8.88 | 9.29 | 9.83 | 10.75 | 10.66 | 10.36 | 10.12 | 9.86 | 9.56 | 9.20 | 8.90 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average inventory processing period1 | 41 | 44 | 44 | 44 | 44 | 43 | 41 | 39 | 37 | 34 | 34 | 35 | 36 | 37 | 38 | 40 | 41 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||
| Sherwin-Williams Co. | 70 | 70 | 70 | 72 | 69 | 65 | 69 | 77 | 75 | 73 | 72 | 72 | 62 | 61 | 62 | 68 | 68 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 8.81 = 41
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
Linde plc, average receivable collection period calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Receivables turnover | 7.14 | 6.78 | 6.56 | 6.54 | 6.96 | 6.92 | 6.90 | 7.02 | 7.32 | 7.34 | 6.79 | 6.56 | 6.84 | 6.82 | 6.67 | 6.70 | 6.54 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average receivable collection period1 | 51 | 54 | 56 | 56 | 52 | 53 | 53 | 52 | 50 | 50 | 54 | 56 | 53 | 54 | 55 | 54 | 56 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||
| Sherwin-Williams Co. | 38 | 47 | 48 | 45 | 39 | 47 | 50 | 47 | 42 | 49 | 52 | 50 | 43 | 48 | 48 | 47 | 41 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 7.14 = 51
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. | Linde plc number of days of receivables outstanding improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Operating Cycle
Linde plc, operating cycle calculation (quarterly data)
No. days
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Average inventory processing period | 41 | 44 | 44 | 44 | 44 | 43 | 41 | 39 | 37 | 34 | 34 | 35 | 36 | 37 | 38 | 40 | 41 | — | — | — | ||||||
| Average receivable collection period | 51 | 54 | 56 | 56 | 52 | 53 | 53 | 52 | 50 | 50 | 54 | 56 | 53 | 54 | 55 | 54 | 56 | — | — | — | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Operating cycle1 | 92 | 98 | 100 | 100 | 96 | 96 | 94 | 91 | 87 | 84 | 88 | 91 | 89 | 91 | 93 | 94 | 97 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||
| Sherwin-Williams Co. | 108 | 117 | 118 | 117 | 108 | 112 | 119 | 124 | 117 | 122 | 124 | 122 | 105 | 109 | 110 | 115 | 109 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 41 + 51 = 92
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. | Linde plc operating cycle improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Average Payables Payment Period
Linde plc, average payables payment period calculation (quarterly data)
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Payables turnover | 6.84 | 6.06 | 6.02 | 5.99 | 5.79 | 6.36 | 6.20 | 6.49 | 6.49 | 6.50 | 5.66 | 5.40 | 5.01 | 5.44 | 5.14 | 5.30 | 4.97 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average payables payment period1 | 53 | 60 | 61 | 61 | 63 | 57 | 59 | 56 | 56 | 56 | 64 | 68 | 73 | 67 | 71 | 69 | 73 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||
| Sherwin-Williams Co. | 69 | 78 | 76 | 74 | 69 | 70 | 71 | 71 | 69 | 81 | 89 | 88 | 77 | 90 | 87 | 81 | 80 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.84 = 53
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. | Linde plc number of days of payables outstanding decreased from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024. |
Cash Conversion Cycle
Linde plc, cash conversion cycle calculation (quarterly data)
No. days
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||
| Average inventory processing period | 41 | 44 | 44 | 44 | 44 | 43 | 41 | 39 | 37 | 34 | 34 | 35 | 36 | 37 | 38 | 40 | 41 | — | — | — | ||||||
| Average receivable collection period | 51 | 54 | 56 | 56 | 52 | 53 | 53 | 52 | 50 | 50 | 54 | 56 | 53 | 54 | 55 | 54 | 56 | — | — | — | ||||||
| Average payables payment period | 53 | 60 | 61 | 61 | 63 | 57 | 59 | 56 | 56 | 56 | 64 | 68 | 73 | 67 | 71 | 69 | 73 | — | — | — | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Cash conversion cycle1 | 39 | 38 | 39 | 39 | 33 | 39 | 35 | 35 | 31 | 28 | 24 | 23 | 16 | 24 | 22 | 25 | 24 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||
| Sherwin-Williams Co. | 39 | 39 | 42 | 43 | 39 | 42 | 48 | 53 | 48 | 41 | 35 | 34 | 28 | 19 | 23 | 34 | 29 | — | — | — | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 41 + 51 – 53 = 39
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. |