Analysis of Long-term (Investment) 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.
Long-term Activity Ratios (Summary)
Walgreens Boots Alliance Inc., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Walgreens Boots Alliance Inc. net fixed asset turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
| 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). | Walgreens Boots Alliance Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Walgreens Boots Alliance Inc. total asset turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Walgreens Boots Alliance Inc. equity turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
Net Fixed Asset Turnover
Walgreens Boots Alliance Inc., net fixed asset turnover calculation (quarterly data)
| May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | Aug 31, 2018 | May 31, 2018 | Feb 28, 2018 | Nov 30, 2017 | Aug 31, 2017 | May 31, 2017 | Feb 28, 2017 | Nov 30, 2016 | Aug 31, 2016 | May 31, 2016 | Feb 29, 2016 | Nov 30, 2015 | Aug 31, 2015 | May 31, 2015 | Feb 28, 2015 | Nov 30, 2014 | Aug 31, 2014 | May 31, 2014 | Feb 28, 2014 | Nov 30, 2013 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Sales | 34,631) | 35,820) | 34,339) | 33,954) | 34,591) | 34,528) | 33,793) | 33,442) | 34,334) | 33,021) | 30,740) | 30,149) | 30,118) | 29,446) | 28,501) | 28,636) | 29,498) | 30,184) | 29,033) | 28,522) | 28,795) | 26,573) | 19,554) | 19,057) | 19,401) | 19,605) | 18,329) | ||||||||
| Property, plant and equipment, net | 13,071) | 13,482) | 13,620) | 13,478) | 13,717) | 13,828) | 13,821) | 13,911) | 13,938) | 14,045) | 13,693) | 13,642) | 13,535) | 13,528) | 13,709) | 14,335) | 14,493) | 14,552) | 14,878) | 15,068) | 15,241) | 15,646) | 12,103) | 12,257) | 12,088) | 12,136) | 12,351) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | 10.61 | 10.29 | 10.09 | 10.15 | 9.94 | 9.84 | 9.74 | 9.46 | 9.20 | 8.83 | 8.80 | 8.67 | 8.62 | 8.58 | 8.52 | 8.19 | 8.09 | 8.01 | 7.59 | 6.87 | 6.17 | 5.41 | 6.41 | 6.23 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | 7.31 | 7.21 | 7.12 | 7.15 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Dollar General Corp. | 8.70 | 8.83 | 8.69 | 8.63 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Target Corp. | 2.91 | 2.92 | 2.93 | 2.92 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Walmart Inc. | 4.77 | 4.73 | 4.72 | 4.58 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).
1 Q3 2020 Calculation
Net fixed asset turnover
= (SalesQ3 2020
+ SalesQ2 2020
+ SalesQ1 2020
+ SalesQ4 2019)
÷ Property, plant and equipment, net
= (34,631 + 35,820 + 34,339 + 33,954)
÷ 13,071 = 10.61
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. | Walgreens Boots Alliance Inc. net fixed asset turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Walgreens Boots Alliance Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | Aug 31, 2018 | May 31, 2018 | Feb 28, 2018 | Nov 30, 2017 | Aug 31, 2017 | May 31, 2017 | Feb 28, 2017 | Nov 30, 2016 | Aug 31, 2016 | May 31, 2016 | Feb 29, 2016 | Nov 30, 2015 | Aug 31, 2015 | May 31, 2015 | Feb 28, 2015 | Nov 30, 2014 | Aug 31, 2014 | May 31, 2014 | Feb 28, 2014 | Nov 30, 2013 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Sales | 34,631) | 35,820) | 34,339) | 33,954) | 34,591) | 34,528) | 33,793) | 33,442) | 34,334) | 33,021) | 30,740) | 30,149) | 30,118) | 29,446) | 28,501) | 28,636) | 29,498) | 30,184) | 29,033) | 28,522) | 28,795) | 26,573) | 19,554) | 19,057) | 19,401) | 19,605) | 18,329) | ||||||||
| Property, plant and equipment, net | 13,071) | 13,482) | 13,620) | 13,478) | 13,717) | 13,828) | 13,821) | 13,911) | 13,938) | 14,045) | 13,693) | 13,642) | 13,535) | 13,528) | 13,709) | 14,335) | 14,493) | 14,552) | 14,878) | 15,068) | 15,241) | 15,646) | 12,103) | 12,257) | 12,088) | 12,136) | 12,351) | ||||||||
| Operating lease right-of-use assets | 21,609) | 21,755) | 21,674) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||||
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 34,680) | 35,237) | 35,294) | 13,478) | 13,717) | 13,828) | 13,821) | 13,911) | 13,938) | 14,045) | 13,693) | 13,642) | 13,535) | 13,528) | 13,709) | 14,335) | 14,493) | 14,552) | 14,878) | 15,068) | 15,241) | 15,646) | 12,103) | 12,257) | 12,088) | 12,136) | 12,351) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 4.00 | 3.94 | 3.89 | 10.15 | 9.94 | 9.84 | 9.74 | 9.46 | 9.20 | 8.83 | 8.80 | 8.67 | 8.62 | 8.58 | 8.52 | 8.19 | 8.09 | 8.01 | 7.59 | 6.87 | 6.17 | 5.41 | 6.41 | 6.23 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | 6.48 | 6.43 | 6.35 | 7.15 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Dollar General Corp. | 2.31 | 2.33 | 2.34 | 8.63 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Target Corp. | 2.69 | 2.70 | 2.72 | 2.71 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Walmart Inc. | 4.12 | 4.08 | 4.09 | 4.58 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).
1 Q3 2020 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (SalesQ3 2020
+ SalesQ2 2020
+ SalesQ1 2020
+ SalesQ4 2019)
÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= (34,631 + 35,820 + 34,339 + 33,954)
÷ 34,680 = 4.00
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). | Walgreens Boots Alliance Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
Total Asset Turnover
Walgreens Boots Alliance Inc., total asset turnover calculation (quarterly data)
| May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | Aug 31, 2018 | May 31, 2018 | Feb 28, 2018 | Nov 30, 2017 | Aug 31, 2017 | May 31, 2017 | Feb 28, 2017 | Nov 30, 2016 | Aug 31, 2016 | May 31, 2016 | Feb 29, 2016 | Nov 30, 2015 | Aug 31, 2015 | May 31, 2015 | Feb 28, 2015 | Nov 30, 2014 | Aug 31, 2014 | May 31, 2014 | Feb 28, 2014 | Nov 30, 2013 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Sales | 34,631) | 35,820) | 34,339) | 33,954) | 34,591) | 34,528) | 33,793) | 33,442) | 34,334) | 33,021) | 30,740) | 30,149) | 30,118) | 29,446) | 28,501) | 28,636) | 29,498) | 30,184) | 29,033) | 28,522) | 28,795) | 26,573) | 19,554) | 19,057) | 19,401) | 19,605) | 18,329) | ||||||||
| Total assets | 86,444) | 90,003) | 90,807) | 67,598) | 68,586) | 70,434) | 69,941) | 68,124) | 70,152) | 70,816) | 66,618) | 66,009) | 74,173) | 72,505) | 71,912) | 72,688) | 67,333) | 66,385) | 68,657) | 68,782) | 70,644) | 71,357) | 48,612) | 37,182) | 37,391) | 37,081) | 36,481) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Total asset turnover1 | 1.61 | 1.54 | 1.51 | 2.02 | 1.99 | 1.93 | 1.92 | 1.93 | 1.83 | 1.75 | 1.81 | 1.79 | 1.57 | 1.60 | 1.62 | 1.61 | 1.74 | 1.76 | 1.64 | 1.50 | 1.33 | 1.19 | 1.60 | 2.05 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | 3.04 | 3.18 | 2.94 | 3.29 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Dollar General Corp. | 1.22 | 1.22 | 1.23 | 1.94 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Target Corp. | 1.75 | 1.83 | 1.85 | 1.80 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Walmart Inc. | 2.16 | 2.19 | 2.18 | 2.33 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).
1 Q3 2020 Calculation
Total asset turnover
= (SalesQ3 2020
+ SalesQ2 2020
+ SalesQ1 2020
+ SalesQ4 2019)
÷ Total assets
= (34,631 + 35,820 + 34,339 + 33,954)
÷ 86,444 = 1.61
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. | Walgreens Boots Alliance Inc. total asset turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |
Equity Turnover
Walgreens Boots Alliance Inc., equity turnover calculation (quarterly data)
| May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | Aug 31, 2018 | May 31, 2018 | Feb 28, 2018 | Nov 30, 2017 | Aug 31, 2017 | May 31, 2017 | Feb 28, 2017 | Nov 30, 2016 | Aug 31, 2016 | May 31, 2016 | Feb 29, 2016 | Nov 30, 2015 | Aug 31, 2015 | May 31, 2015 | Feb 28, 2015 | Nov 30, 2014 | Aug 31, 2014 | May 31, 2014 | Feb 28, 2014 | Nov 30, 2013 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||||||||
| Sales | 34,631) | 35,820) | 34,339) | 33,954) | 34,591) | 34,528) | 33,793) | 33,442) | 34,334) | 33,021) | 30,740) | 30,149) | 30,118) | 29,446) | 28,501) | 28,636) | 29,498) | 30,184) | 29,033) | 28,522) | 28,795) | 26,573) | 19,554) | 19,057) | 19,401) | 19,605) | 18,329) | ||||||||
| Total Walgreens Boots Alliance, Inc. shareholders’ equity | 20,736) | 23,720) | 23,661) | 23,512) | 24,133) | 24,770) | 25,609) | 26,007) | 27,736) | 27,355) | 25,929) | 27,466) | 30,600) | 30,067) | 29,325) | 29,880) | 30,881) | 29,506) | 30,709) | 30,861) | 31,563) | 30,814) | 20,636) | 20,457) | 21,417) | 20,784) | 20,021) | ||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||||||||
| Equity turnover1 | 6.69 | 5.85 | 5.81 | 5.82 | 5.65 | 5.49 | 5.26 | 5.06 | 4.62 | 4.53 | 4.65 | 4.30 | 3.81 | 3.86 | 3.98 | 3.93 | 3.80 | 3.95 | 3.68 | 3.35 | 2.98 | 2.75 | 3.76 | 3.73 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||||||||
| Costco Wholesale Corp. | 9.37 | 9.32 | 9.54 | 9.80 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Dollar General Corp. | 4.10 | 3.95 | 3.98 | 3.99 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Target Corp. | 6.65 | 6.41 | 6.77 | 6.59 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Walmart Inc. | 7.22 | 7.31 | 7.50 | 7.04 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).
1 Q3 2020 Calculation
Equity turnover
= (SalesQ3 2020
+ SalesQ2 2020
+ SalesQ1 2020
+ SalesQ4 2019)
÷ Total Walgreens Boots Alliance, Inc. shareholders’ equity
= (34,631 + 35,820 + 34,339 + 33,954)
÷ 20,736 = 6.69
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. | Walgreens Boots Alliance Inc. equity turnover ratio improved from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020. |