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)
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
Short-term activity ratio | Description | The company |
---|---|---|
Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Constellation Brands Inc. inventory turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Receivables turnover | An activity ratio equal to revenue divided by receivables. | Constellation Brands Inc. receivables turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Constellation Brands Inc. payables turnover ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022. |
Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Constellation Brands Inc. working capital turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
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. | Constellation Brands Inc. number of days of inventory outstanding improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Constellation Brands Inc. number of days of receivables outstanding improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Constellation Brands Inc. operating cycle improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
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. | Constellation Brands Inc. number of days of payables outstanding decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |
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. | Constellation Brands Inc. cash conversion cycle improved from 2020 to 2021 and from 2021 to 2022. |
Inventory Turnover
Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Cost of product sold | 4,113,400) | 4,148,900) | 4,191,600) | 4,035,700) | 3,767,800) | 3,802,100) | |
Inventories | 1,573,200) | 1,291,100) | 1,373,600) | 2,130,400) | 2,084,000) | 1,955,100) | |
Short-term Activity Ratio | |||||||
Inventory turnover1 | 2.61 | 3.21 | 3.05 | 1.89 | 1.81 | 1.94 | |
Benchmarks | |||||||
Inventory Turnover, Competitors2 | |||||||
Altria Group Inc. | 5.46 | 5.96 | 3.98 | 3.09 | — | — | |
Coca-Cola Co. | 4.25 | 4.50 | 4.11 | 4.33 | — | — | |
PepsiCo Inc. | 7.77 | 8.53 | 7.62 | 9.03 | — | — | |
Philip Morris International Inc. | 1.15 | 1.15 | 1.00 | 1.14 | — | — | |
Inventory Turnover, Sector | |||||||
Food, Beverage & Tobacco | 3.72 | 3.94 | 3.30 | 3.42 | — | — | |
Inventory Turnover, Industry | |||||||
Consumer Staples | 6.96 | 7.97 | 7.50 | 7.42 | — | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
1 2022 Calculation
Inventory turnover = Cost of product sold ÷ Inventories
= 4,113,400 ÷ 1,573,200 = 2.61
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. | Constellation Brands Inc. inventory turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Receivables Turnover
Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Net sales | 8,820,700) | 8,614,900) | 8,343,500) | 8,116,000) | 7,585,000) | 7,331,500) | |
Accounts receivable | 899,000) | 785,300) | 864,800) | 846,900) | 776,200) | 737,000) | |
Short-term Activity Ratio | |||||||
Receivables turnover1 | 9.81 | 10.97 | 9.65 | 9.58 | 9.77 | 9.95 | |
Benchmarks | |||||||
Receivables Turnover, Competitors2 | |||||||
Altria Group Inc. | 522.83 | 553.47 | 190.90 | 165.20 | — | — | |
Coca-Cola Co. | 12.33 | 11.01 | 10.50 | 9.38 | — | — | |
PepsiCo Inc. | 8.50 | 9.16 | 8.37 | 8.59 | — | — | |
Philip Morris International Inc. | 8.25 | 10.06 | 9.88 | 9.68 | — | — | |
Receivables Turnover, Sector | |||||||
Food, Beverage & Tobacco | 10.61 | 11.43 | 10.85 | 10.61 | — | — | |
Receivables Turnover, Industry | |||||||
Consumer Staples | 35.12 | 38.75 | 37.54 | 34.71 | — | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
1 2022 Calculation
Receivables turnover = Net sales ÷ Accounts receivable
= 8,820,700 ÷ 899,000 = 9.81
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. | Constellation Brands Inc. receivables turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Payables Turnover
Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Cost of product sold | 4,113,400) | 4,148,900) | 4,191,600) | 4,035,700) | 3,767,800) | 3,802,100) | |
Accounts payable | 899,200) | 460,000) | 557,600) | 616,700) | 592,200) | 559,800) | |
Short-term Activity Ratio | |||||||
Payables turnover1 | 4.57 | 9.02 | 7.52 | 6.54 | 6.36 | 6.79 | |
Benchmarks | |||||||
Payables Turnover, Competitors2 | |||||||
Altria Group Inc. | 11.67 | 15.86 | 20.57 | 21.80 | — | — | |
Coca-Cola Co. | 3.39 | 3.34 | 3.82 | 3.84 | — | — | |
PepsiCo Inc. | 3.78 | 3.77 | 3.59 | 3.76 | — | — | |
Philip Morris International Inc. | 2.80 | 3.01 | 3.44 | 4.57 | — | — | |
Payables Turnover, Sector | |||||||
Food, Beverage & Tobacco | 3.70 | 3.82 | 4.03 | 4.32 | — | — | |
Payables Turnover, Industry | |||||||
Consumer Staples | 6.61 | 6.91 | 7.01 | 7.11 | — | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
1 2022 Calculation
Payables turnover = Cost of product sold ÷ Accounts payable
= 4,113,400 ÷ 899,200 = 4.57
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. | Constellation Brands Inc. payables turnover ratio increased from 2020 to 2021 but then decreased significantly from 2021 to 2022. |
Working Capital Turnover
Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||
Current assets | 3,329,700) | 3,044,500) | 3,484,100) | 3,684,000) | 3,474,000) | 3,230,000) | |
Less: Current liabilities | 2,698,800) | 1,269,100) | 2,311,800) | 3,163,800) | 1,944,700) | 2,697,600) | |
Working capital | 630,900) | 1,775,400) | 1,172,300) | 520,200) | 1,529,300) | 532,400) | |
Net sales | 8,820,700) | 8,614,900) | 8,343,500) | 8,116,000) | 7,585,000) | 7,331,500) | |
Short-term Activity Ratio | |||||||
Working capital turnover1 | 13.98 | 4.85 | 7.12 | 15.60 | 4.96 | 13.77 | |
Benchmarks | |||||||
Working Capital Turnover, Competitors2 | |||||||
Altria Group Inc. | — | — | — | — | — | — | |
Coca-Cola Co. | 15.00 | 14.90 | 7.12 | — | — | — | |
PepsiCo Inc. | — | — | — | — | — | — | |
Philip Morris International Inc. | — | — | 15.29 | 17.73 | — | — | |
Working Capital Turnover, Sector | |||||||
Food, Beverage & Tobacco | — | — | 37.68 | — | — | — | |
Working Capital Turnover, Industry | |||||||
Consumer Staples | — | — | — | — | — | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
1 2022 Calculation
Working capital turnover = Net sales ÷ Working capital
= 8,820,700 ÷ 630,900 = 13.98
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. | Constellation Brands Inc. working capital turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level. |
Average Inventory Processing Period
Constellation Brands Inc., average inventory processing period calculation, comparison to benchmarks
Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||
Inventory turnover | 2.61 | 3.21 | 3.05 | 1.89 | 1.81 | 1.94 | |
Short-term Activity Ratio (no. days) | |||||||
Average inventory processing period1 | 140 | 114 | 120 | 193 | 202 | 188 | |
Benchmarks (no. days) | |||||||
Average Inventory Processing Period, Competitors2 | |||||||
Altria Group Inc. | 67 | 61 | 92 | 118 | — | — | |
Coca-Cola Co. | 86 | 81 | 89 | 84 | — | — | |
PepsiCo Inc. | 47 | 43 | 48 | 40 | — | — | |
Philip Morris International Inc. | 316 | 317 | 366 | 321 | — | — | |
Average Inventory Processing Period, Sector | |||||||
Food, Beverage & Tobacco | 98 | 93 | 111 | 107 | — | — | |
Average Inventory Processing Period, Industry | |||||||
Consumer Staples | 52 | 46 | 49 | 49 | — | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
1 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 2.61 = 140
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. | Constellation Brands Inc. number of days of inventory outstanding improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Average Receivable Collection Period
Constellation Brands Inc., average receivable collection period calculation, comparison to benchmarks
Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||
Receivables turnover | 9.81 | 10.97 | 9.65 | 9.58 | 9.77 | 9.95 | |
Short-term Activity Ratio (no. days) | |||||||
Average receivable collection period1 | 37 | 33 | 38 | 38 | 37 | 37 | |
Benchmarks (no. days) | |||||||
Average Receivable Collection Period, Competitors2 | |||||||
Altria Group Inc. | 1 | 1 | 2 | 2 | — | — | |
Coca-Cola Co. | 30 | 33 | 35 | 39 | — | — | |
PepsiCo Inc. | 43 | 40 | 44 | 43 | — | — | |
Philip Morris International Inc. | 44 | 36 | 37 | 38 | — | — | |
Average Receivable Collection Period, Sector | |||||||
Food, Beverage & Tobacco | 34 | 32 | 34 | 34 | — | — | |
Average Receivable Collection Period, Industry | |||||||
Consumer Staples | 10 | 9 | 10 | 11 | — | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
1 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 9.81 = 37
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. | Constellation Brands Inc. number of days of receivables outstanding improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Operating Cycle
Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||
Average inventory processing period | 140 | 114 | 120 | 193 | 202 | 188 | |
Average receivable collection period | 37 | 33 | 38 | 38 | 37 | 37 | |
Short-term Activity Ratio | |||||||
Operating cycle1 | 177 | 147 | 158 | 231 | 239 | 225 | |
Benchmarks | |||||||
Operating Cycle, Competitors2 | |||||||
Altria Group Inc. | 68 | 62 | 94 | 120 | — | — | |
Coca-Cola Co. | 116 | 114 | 124 | 123 | — | — | |
PepsiCo Inc. | 90 | 83 | 92 | 83 | — | — | |
Philip Morris International Inc. | 360 | 353 | 403 | 359 | — | — | |
Operating Cycle, Sector | |||||||
Food, Beverage & Tobacco | 132 | 125 | 145 | 141 | — | — | |
Operating Cycle, Industry | |||||||
Consumer Staples | 62 | 55 | 59 | 60 | — | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
1 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 140 + 37 = 177
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. | Constellation Brands Inc. operating cycle improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Average Payables Payment Period
Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||
Payables turnover | 4.57 | 9.02 | 7.52 | 6.54 | 6.36 | 6.79 | |
Short-term Activity Ratio (no. days) | |||||||
Average payables payment period1 | 80 | 40 | 49 | 56 | 57 | 54 | |
Benchmarks (no. days) | |||||||
Average Payables Payment Period, Competitors2 | |||||||
Altria Group Inc. | 31 | 23 | 18 | 17 | — | — | |
Coca-Cola Co. | 108 | 109 | 96 | 95 | — | — | |
PepsiCo Inc. | 97 | 97 | 102 | 97 | — | — | |
Philip Morris International Inc. | 130 | 121 | 106 | 80 | — | — | |
Average Payables Payment Period, Sector | |||||||
Food, Beverage & Tobacco | 99 | 96 | 91 | 85 | — | — | |
Average Payables Payment Period, Industry | |||||||
Consumer Staples | 55 | 53 | 52 | 51 | — | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
1 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 4.57 = 80
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. | Constellation Brands Inc. number of days of payables outstanding decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level. |
Cash Conversion Cycle
Feb 28, 2022 | Feb 28, 2021 | Feb 29, 2020 | Feb 28, 2019 | Feb 28, 2018 | Feb 28, 2017 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data | |||||||
Average inventory processing period | 140 | 114 | 120 | 193 | 202 | 188 | |
Average receivable collection period | 37 | 33 | 38 | 38 | 37 | 37 | |
Average payables payment period | 80 | 40 | 49 | 56 | 57 | 54 | |
Short-term Activity Ratio | |||||||
Cash conversion cycle1 | 97 | 107 | 109 | 175 | 182 | 171 | |
Benchmarks | |||||||
Cash Conversion Cycle, Competitors2 | |||||||
Altria Group Inc. | 37 | 39 | 76 | 103 | — | — | |
Coca-Cola Co. | 8 | 5 | 28 | 28 | — | — | |
PepsiCo Inc. | -7 | -14 | -10 | -14 | — | — | |
Philip Morris International Inc. | 230 | 232 | 297 | 279 | — | — | |
Cash Conversion Cycle, Sector | |||||||
Food, Beverage & Tobacco | 33 | 29 | 54 | 56 | — | — | |
Cash Conversion Cycle, Industry | |||||||
Consumer Staples | 7 | 2 | 7 | 9 | — | — |
Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).
1 2022 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 140 + 37 – 80 = 97
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. | Constellation Brands Inc. cash conversion cycle improved from 2020 to 2021 and from 2021 to 2022. |