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.
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Long-term Activity Ratios (Summary)
EMC Corp., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio was first reported at 7.06 in March 2012, showing a slight increase to 7.13 by December 2012. Subsequently, it exhibited a gradual decline over the following quarters, falling to 6.69 by December 2013. The ratio remained relatively stable in the range of approximately 6.5 to 6.6 through 2014 and into early 2015. From March 2015 to June 2016, the ratio fluctuated mildly around 6.4 to 6.6, indicating a period of consistency after the initial decrease. Overall, the trend illustrates an early peak followed by a moderate decline and stabilization in net fixed asset turnover over the observed period.
- Total Asset Turnover
- The total asset turnover ratio showed an initial increase from 0.58 in March 2012 to 0.6 in mid-2012, followed by a slight decrease to 0.58 by December 2012. Throughout 2013, the ratio decreased further to about 0.50–0.51 but rebounded modestly to 0.53 by the end of the year. During 2014, it remained steady around 0.53 before rising to 0.57 in March 2015. After that peak, the ratio decreased slightly to fluctuate between 0.53 and 0.55 until June 2016. The overall pattern suggests minor volatility with a general trend of stabilization around the mid-0.5 range after some initial variability.
- Equity Turnover
- The equity turnover ratio began at 1.06 in March 2012 and then gradually declined to 0.98 by December 2012. From early 2013 through 2014, the ratio increased consistently, reaching 1.12 by December 2014. This upward momentum continued, peaking at 1.23 in September 2015. Following this peak, the ratio showed a slight declining tendency, ending at 1.11 in June 2016. The trend indicates a period of strengthening equity turnover from 2013 to late 2015, followed by a moderate downward correction in the first half of 2016.
Net Fixed Asset Turnover
EMC Corp., net fixed asset turnover calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||
| Property, plant and equipment, net | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Net fixed asset turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | |||||||||||||||||||||||||||||
| Analog Devices Inc. | |||||||||||||||||||||||||||||
| Applied Materials Inc. | |||||||||||||||||||||||||||||
| Broadcom Inc. | |||||||||||||||||||||||||||||
| Intel Corp. | |||||||||||||||||||||||||||||
| KLA Corp. | |||||||||||||||||||||||||||||
| Lam Research Corp. | |||||||||||||||||||||||||||||
| Micron Technology Inc. | |||||||||||||||||||||||||||||
| NVIDIA Corp. | |||||||||||||||||||||||||||||
| Qualcomm Inc. | |||||||||||||||||||||||||||||
| Texas Instruments Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Q2 2016 Calculation
Net fixed asset turnover
= (RevenuesQ2 2016
+ RevenuesQ1 2016
+ RevenuesQ4 2015
+ RevenuesQ3 2015)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenues
- The revenue figures show a general upward trend over the periods examined, despite some fluctuations. From March 2011 to June 2016, revenues increased from 4608 million USD to 6017 million USD. Notably, there are quarterly fluctuations with peaks typically observed in the fourth quarter of each year, exemplified by revenue reaching 6682 million USD in December 2013 and 7049 million USD in December 2014 and 2015. This suggests seasonal or cyclical factors influencing sales, with stronger performance towards the year-end. The growth is not smooth but demonstrates resilience and an overall positive trajectory in revenues over the five-year span.
- Property, Plant, and Equipment, net
- The net value of property, plant, and equipment shows a steady increase through the years, moving from 2565 million USD in March 2011 to a peak of 3850 million USD in December 2015 before experiencing a slight decline to 3725 million USD by June 2016. This trend indicates continuous capital investment and asset accumulation, supporting operational capacity expansion. The gradual growth suggests a consistent reinvestment strategy, possibly to support the expanding business volume evidenced by rising revenues. The minor decline in the final period could indicate asset disposals, depreciation, or end of major investment cycles.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio, calculated only from September 2011 onwards, remains relatively stable, fluctuating slightly around the 6.4 to 7.1 range. The ratio begins at 7.06 in September 2011, increases slightly to a high of 7.13 in December 2011, then gradually declines and stabilizes near 6.5 through to June 2016. This stability suggests the company is maintaining consistent efficiency in utilizing its fixed assets to generate revenues. Despite the steady increase in property, plant, and equipment, the company's ability to generate sales from these assets has neither significantly improved nor deteriorated, indicating balanced asset deployment relative to revenue growth.
Total Asset Turnover
EMC Corp., total asset turnover calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Total asset turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | |||||||||||||||||||||||||||||
| Analog Devices Inc. | |||||||||||||||||||||||||||||
| Applied Materials Inc. | |||||||||||||||||||||||||||||
| Broadcom Inc. | |||||||||||||||||||||||||||||
| Intel Corp. | |||||||||||||||||||||||||||||
| KLA Corp. | |||||||||||||||||||||||||||||
| Lam Research Corp. | |||||||||||||||||||||||||||||
| Micron Technology Inc. | |||||||||||||||||||||||||||||
| NVIDIA Corp. | |||||||||||||||||||||||||||||
| Qualcomm Inc. | |||||||||||||||||||||||||||||
| Texas Instruments Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Q2 2016 Calculation
Total asset turnover
= (RevenuesQ2 2016
+ RevenuesQ1 2016
+ RevenuesQ4 2015
+ RevenuesQ3 2015)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data reveals several patterns in the quarterly performance of the company over the analyzed periods.
- Revenues
- Revenues display a generally upward trend with notable seasonal fluctuations. Starting at 4608 million US$ in the first quarter of 2011, revenues increased steadily, peaking multiple times, such as at 7049 million US$ in the last quarter of 2014 and 7015 million US$ in the last quarter of 2015. Mid-year quarters tend to have moderate revenue levels compared to year-end quarters, indicating possible seasonal demand fluctuations. However, there are occasional decreases, such as from 5574 million US$ in Q4 2011 to 5094 million US$ in Q1 2012, suggesting some volatility within the cycle.
- Total Assets
- Total assets exhibit consistent growth over the entire period. From 31,187 million US$ in the first quarter of 2011, total assets rose almost continuously, reaching around 46,745 million US$ by mid-2016. The growth rate appears steady without significant declines, reflecting ongoing asset accumulation or capital investments by the company. Slight dips or stagnation are minimal, indicating a stable asset base expansion.
- Total Asset Turnover
- The total asset turnover ratio fluctuates modestly between approximately 0.50 and 0.6 throughout the available quarters. It reached highs around 0.6 in mid to late 2011 and early 2012, suggesting efficient use of assets to generate revenues during those periods. Post-2012, the ratio generally stabilizes between 0.50 and 0.57, occasionally increasing to 0.57 in mid-2015. A lower asset turnover ratio relative to earlier periods may imply that asset growth outpaced revenue growth or that assets were utilized less efficiently, though the ratio remains relatively stable overall.
In summary, the company has experienced consistent growth in total assets while revenues have shown a progressive upward trajectory with seasonal variation. The asset turnover ratio indicates reasonable but slightly declining efficiency in utilizing assets to generate revenue, which may suggest the need for increased operational effectiveness or capital allocation strategies going forward.
Equity Turnover
EMC Corp., equity turnover calculation (quarterly data)
| Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | Sep 30, 2014 | Jun 30, 2014 | Mar 31, 2014 | Dec 31, 2013 | Sep 30, 2013 | Jun 30, 2013 | Mar 31, 2013 | Dec 31, 2012 | Sep 30, 2012 | Jun 30, 2012 | Mar 31, 2012 | Dec 31, 2011 | Sep 30, 2011 | Jun 30, 2011 | Mar 31, 2011 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||
| Total EMC Corporation’s shareholders’ equity | |||||||||||||||||||||||||||||
| Long-term Activity Ratio | |||||||||||||||||||||||||||||
| Equity turnover1 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | |||||||||||||||||||||||||||||
| Advanced Micro Devices Inc. | |||||||||||||||||||||||||||||
| Analog Devices Inc. | |||||||||||||||||||||||||||||
| Applied Materials Inc. | |||||||||||||||||||||||||||||
| Broadcom Inc. | |||||||||||||||||||||||||||||
| Intel Corp. | |||||||||||||||||||||||||||||
| KLA Corp. | |||||||||||||||||||||||||||||
| Lam Research Corp. | |||||||||||||||||||||||||||||
| Micron Technology Inc. | |||||||||||||||||||||||||||||
| NVIDIA Corp. | |||||||||||||||||||||||||||||
| Qualcomm Inc. | |||||||||||||||||||||||||||||
| Texas Instruments Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
1 Q2 2016 Calculation
Equity turnover
= (RevenuesQ2 2016
+ RevenuesQ1 2016
+ RevenuesQ4 2015
+ RevenuesQ3 2015)
÷ Total EMC Corporation’s shareholders’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Revenues
- The revenues exhibit a generally fluctuating pattern over the observed periods, ranging between approximately 4,600 million US dollars and 7,000 million US dollars. Initial quarters show a moderate increase from 4,608 million to 5,574 million between March 2011 and December 2011. This is followed by fluctuations with occasional rises and falls but with an overall upward trend towards the end of 2014 and again in 2015, reaching values above 7,000 million US dollars in December 2014 and December 2015. However, there are noticeable declines following peak quarters, indicating some volatility within the revenue stream.
- Total Shareholders’ Equity
- The total shareholders’ equity gradually increases from 17,527 million US dollars in March 2011 to a peak of approximately 22,669 million US dollars in March 2013. After this peak, a stabilization period occurs with slight decreases and fluctuations around the 22,000 million mark through the end of 2014. In 2015 and mid-2016, the equity shows some decline, dropping below 21,000 million US dollars at several points, before a slight recovery towards June 2016 where it reaches 22,138 million US dollars. The trend illustrates underlying equity strength with periods of consolidation and minor retracement.
- Equity Turnover Ratio
- The equity turnover ratio is available starting from the third quarter of 2011. Initially, it registers slightly above 1.00 with a gradual declining trend to 0.97 by the end of 2012, suggesting a modest reduction in the efficiency of generating revenues from shareholders’ equity. From 2013 onwards, the ratio shows a consistent increase, reaching its highest level of 1.23 in the third quarter of 2015, which reflects improved utilization of equity to generate revenue during this period. This increase is partly consistent with revenue growth observed in the same period. Towards mid-2016, the ratio declines slightly but remains above 1.10, indicating sustained, albeit reduced, efficiency compared to earlier periods.
- General Observations
- The analysis reveals that revenues and equity turnover show correlated upward trends primarily from 2013 to 2015, implying effective leverage of equity for revenue generation during those years. In contrast, the earlier years and post-2015 periods indicate more volatility and fluctuations in both revenues and turnover ratios. The shareholders’ equity growth appears steady overall but experiences minor corrections following peaks, suggesting cautious capital management or periodic adjustments. The data highlights an environment of cyclical performance with gradual improvement in operational efficiency over the medium term.