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.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2020
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Long-term Activity Ratios (Summary)
Carrier Global Corp., long-term (investment) activity ratios
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|
| Net fixed asset turnover | ||||
| Net fixed asset turnover (including operating lease, right-of-use asset) | ||||
| Total asset turnover | ||||
| Equity turnover |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Carrier Global Corp. net fixed asset turnover ratio improved from 2020 to 2021 but then deteriorated significantly 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). | Carrier Global Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Carrier Global Corp. total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Carrier Global Corp. equity turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Net Fixed Asset Turnover
Carrier Global Corp., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||
| Net sales | ||||
| Fixed assets, net | ||||
| Long-term Activity Ratio | ||||
| Net fixed asset turnover1 | ||||
| Benchmarks | ||||
| Net Fixed Asset Turnover, Competitors2 | ||||
| Boeing Co. | ||||
| Caterpillar Inc. | ||||
| Eaton Corp. plc | ||||
| GE Aerospace | ||||
| Honeywell International Inc. | ||||
| Lockheed Martin Corp. | ||||
| RTX Corp. | ||||
| Net Fixed Asset Turnover, Sector | ||||
| Capital Goods | ||||
| Net Fixed Asset Turnover, Industry | ||||
| Industrials | ||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2022 Calculation
Net fixed asset turnover = Net sales ÷ Fixed assets, net
= ÷ =
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. | Carrier Global Corp. net fixed asset turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Carrier Global 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 | ||
|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||
| Net sales | ||||
| Fixed assets, net | ||||
| Operating lease right-of-use assets | ||||
| Fixed assets, net (including operating lease, right-of-use asset) | ||||
| Long-term Activity Ratio | ||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | ||||
| Benchmarks | ||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||
| Boeing Co. | ||||
| Caterpillar Inc. | ||||
| Eaton Corp. plc | ||||
| GE Aerospace | ||||
| Honeywell International Inc. | ||||
| Lockheed Martin Corp. | ||||
| RTX Corp. | ||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||
| Capital Goods | ||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||
| Industrials | ||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Fixed assets, net (including operating lease, right-of-use asset)
= ÷ =
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). | Carrier Global Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Total Asset Turnover
Carrier Global Corp., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||
| Net sales | ||||
| Total assets | ||||
| Long-term Activity Ratio | ||||
| Total asset turnover1 | ||||
| Benchmarks | ||||
| Total Asset Turnover, Competitors2 | ||||
| Boeing Co. | ||||
| Caterpillar Inc. | ||||
| Eaton Corp. plc | ||||
| GE Aerospace | ||||
| Honeywell International Inc. | ||||
| Lockheed Martin Corp. | ||||
| RTX Corp. | ||||
| Total Asset Turnover, Sector | ||||
| Capital Goods | ||||
| Total Asset Turnover, Industry | ||||
| Industrials | ||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2022 Calculation
Total asset turnover = Net sales ÷ Total assets
= ÷ =
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. | Carrier Global Corp. total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Equity Turnover
Carrier Global Corp., equity turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||
| Net sales | ||||
| Equity attributable to common shareowners | ||||
| Long-term Activity Ratio | ||||
| Equity turnover1 | ||||
| Benchmarks | ||||
| Equity Turnover, Competitors2 | ||||
| Boeing Co. | ||||
| Caterpillar Inc. | ||||
| Eaton Corp. plc | ||||
| GE Aerospace | ||||
| Honeywell International Inc. | ||||
| Lockheed Martin Corp. | ||||
| RTX Corp. | ||||
| Equity Turnover, Sector | ||||
| Capital Goods | ||||
| Equity Turnover, Industry | ||||
| Industrials | ||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2022 Calculation
Equity turnover = Net sales ÷ Equity attributable to common shareowners
= ÷ =
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. | Carrier Global Corp. equity turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |