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)
Edwards Lifesciences Corp., long-term (investment) activity ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Edwards Lifesciences Corp. net fixed asset turnover ratio improved from Q2 2021 to Q3 2021 but then deteriorated significantly from Q3 2021 to Q4 2021. |
| 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). | Edwards Lifesciences Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q2 2021 to Q3 2021 but then deteriorated significantly from Q3 2021 to Q4 2021. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Edwards Lifesciences Corp. total asset turnover ratio deteriorated from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Edwards Lifesciences Corp. equity turnover ratio deteriorated from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Net Fixed Asset Turnover
Edwards Lifesciences Corp., net fixed asset turnover calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net sales | 1,329,700) | 1,310,200) | 1,376,000) | 1,216,600) | 1,191,700) | 1,140,900) | 925,000) | 1,128,700) | 1,174,100) | 1,094,000) | 1,086,900) | 993,000) | 977,700) | 906,600) | 943,700) | 894,800) | 888,500) | 821,500) | 841,800) | 883,500) | ||||||
| Property, plant, and equipment, net | 1,546,600) | 1,464,600) | 1,445,800) | 1,417,900) | 1,395,200) | 1,276,300) | 1,195,600) | 1,100,600) | 1,060,300) | 973,600) | 931,100) | 892,200) | 867,500) | 826,100) | 770,200) | 711,600) | 679,700) | 649,600) | 627,900) | 588,800) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Net fixed asset turnover1 | 3.38 | 3.48 | 3.41 | 3.16 | 3.14 | 3.42 | 3.61 | 4.07 | 4.10 | 4.26 | 4.26 | 4.28 | 4.29 | 4.40 | 4.61 | 4.84 | 5.05 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 4.81 | 4.79 | 4.56 | 4.23 | 3.83 | 3.74 | 3.77 | 4.06 | 3.97 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cigna Group | 46.73 | 41.42 | 40.56 | 39.29 | 37.85 | 37.05 | 36.02 | 35.37 | 34.45 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 22.56 | 22.24 | 21.90 | 21.42 | 21.25 | 21.48 | 21.52 | 21.49 | 21.24 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Elevance Health Inc. | 34.94 | 34.54 | 34.17 | 34.94 | 34.69 | 34.61 | 32.74 | 32.30 | 32.92 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Humana Inc. | 26.97 | 27.83 | 29.47 | 31.04 | 32.05 | 32.90 | 33.07 | 33.20 | 32.93 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 3.04 | 3.16 | 3.13 | 2.86 | 2.76 | 2.85 | 3.00 | 3.36 | 3.52 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 5.77 | 5.56 | 5.64 | 5.72 | 5.99 | 6.52 | 6.50 | 6.51 | 6.54 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| UnitedHealth Group Inc. | 31.81 | 31.77 | 30.94 | 30.76 | 29.64 | 30.80 | 30.30 | 29.91 | 27.60 | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Net fixed asset turnover
= (Net salesQ4 2021
+ Net salesQ3 2021
+ Net salesQ2 2021
+ Net salesQ1 2021)
÷ Property, plant, and equipment, net
= (1,329,700 + 1,310,200 + 1,376,000 + 1,216,600)
÷ 1,546,600 = 3.38
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. | Edwards Lifesciences Corp. net fixed asset turnover ratio improved from Q2 2021 to Q3 2021 but then deteriorated significantly from Q3 2021 to Q4 2021. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Edwards Lifesciences Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net sales | 1,329,700) | 1,310,200) | 1,376,000) | 1,216,600) | 1,191,700) | 1,140,900) | 925,000) | 1,128,700) | 1,174,100) | 1,094,000) | 1,086,900) | 993,000) | 977,700) | 906,600) | 943,700) | 894,800) | 888,500) | 821,500) | 841,800) | 883,500) | ||||||
| Property, plant, and equipment, net | 1,546,600) | 1,464,600) | 1,445,800) | 1,417,900) | 1,395,200) | 1,276,300) | 1,195,600) | 1,100,600) | 1,060,300) | 973,600) | 931,100) | 892,200) | 867,500) | 826,100) | 770,200) | 711,600) | 679,700) | 649,600) | 627,900) | 588,800) | ||||||
| Operating lease right-of-use assets | 92,100) | 84,800) | 84,600) | 88,500) | 94,200) | 89,500) | 84,700) | 75,500) | 80,100) | 73,300) | 71,200) | 69,900) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Property, plant, and equipment, net (including operating lease, right-of-use asset) | 1,638,700) | 1,549,400) | 1,530,400) | 1,506,400) | 1,489,400) | 1,365,800) | 1,280,300) | 1,176,100) | 1,140,400) | 1,046,900) | 1,002,300) | 962,100) | 867,500) | 826,100) | 770,200) | 711,600) | 679,700) | 649,600) | 627,900) | 588,800) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 3.19 | 3.29 | 3.22 | 2.97 | 2.95 | 3.20 | 3.38 | 3.81 | 3.81 | 3.97 | 3.96 | 3.97 | 4.29 | 4.40 | 4.61 | 4.84 | 5.05 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||||||||||||||||||||||
| CVS Health Corp. | 9.09 | 8.55 | 8.37 | 8.15 | 8.04 | 8.08 | 8.02 | 7.95 | 7.77 | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset)
= (Net salesQ4 2021
+ Net salesQ3 2021
+ Net salesQ2 2021
+ Net salesQ1 2021)
÷ Property, plant, and equipment, net (including operating lease, right-of-use asset)
= (1,329,700 + 1,310,200 + 1,376,000 + 1,216,600)
÷ 1,638,700 = 3.19
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). | Edwards Lifesciences Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from Q2 2021 to Q3 2021 but then deteriorated significantly from Q3 2021 to Q4 2021. |
Total Asset Turnover
Edwards Lifesciences Corp., total asset turnover calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net sales | 1,329,700) | 1,310,200) | 1,376,000) | 1,216,600) | 1,191,700) | 1,140,900) | 925,000) | 1,128,700) | 1,174,100) | 1,094,000) | 1,086,900) | 993,000) | 977,700) | 906,600) | 943,700) | 894,800) | 888,500) | 821,500) | 841,800) | 883,500) | ||||||
| Total assets | 8,502,600) | 8,160,300) | 7,662,100) | 7,213,700) | 7,237,100) | 6,800,800) | 6,424,100) | 6,076,100) | 6,488,100) | 5,966,300) | 5,573,500) | 5,469,300) | 5,323,700) | 5,958,200) | 5,686,100) | 5,825,100) | 5,695,800) | 5,488,400) | 5,138,500) | 4,780,400) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Total asset turnover1 | 0.62 | 0.62 | 0.64 | 0.62 | 0.61 | 0.64 | 0.67 | 0.74 | 0.67 | 0.70 | 0.71 | 0.70 | 0.70 | 0.61 | 0.62 | 0.59 | 0.60 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 0.57 | 0.57 | 0.55 | 0.51 | 0.48 | 0.47 | 0.46 | 0.48 | 0.47 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cigna Group | 1.11 | 1.09 | 1.07 | 1.06 | 1.02 | 0.97 | 0.96 | 0.99 | 0.98 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 1.25 | 1.21 | 1.20 | 1.18 | 1.16 | 1.14 | 1.12 | 1.13 | 1.15 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Elevance Health Inc. | 1.41 | 1.35 | 1.33 | 1.29 | 1.39 | 1.34 | 1.28 | 1.31 | 1.33 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Humana Inc. | 1.87 | 1.78 | 2.08 | 2.08 | 2.17 | 1.90 | 1.82 | 1.94 | 2.21 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 0.42 | 0.42 | 0.42 | 0.39 | 0.39 | 0.41 | 0.43 | 0.47 | 0.46 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 0.32 | 0.29 | 0.29 | 0.30 | 0.32 | 0.33 | 0.34 | 0.34 | 0.34 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| UnitedHealth Group Inc. | 1.34 | 1.30 | 1.29 | 1.27 | 1.30 | 1.31 | 1.28 | 1.29 | 1.38 | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Total asset turnover
= (Net salesQ4 2021
+ Net salesQ3 2021
+ Net salesQ2 2021
+ Net salesQ1 2021)
÷ Total assets
= (1,329,700 + 1,310,200 + 1,376,000 + 1,216,600)
÷ 8,502,600 = 0.62
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. | Edwards Lifesciences Corp. total asset turnover ratio deteriorated from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Equity Turnover
Edwards Lifesciences Corp., equity turnover calculation (quarterly data)
| Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Net sales | 1,329,700) | 1,310,200) | 1,376,000) | 1,216,600) | 1,191,700) | 1,140,900) | 925,000) | 1,128,700) | 1,174,100) | 1,094,000) | 1,086,900) | 993,000) | 977,700) | 906,600) | 943,700) | 894,800) | 888,500) | 821,500) | 841,800) | 883,500) | ||||||
| Stockholders’ equity | 5,835,900) | 5,541,300) | 5,133,300) | 4,658,400) | 4,574,300) | 4,210,300) | 3,839,100) | 3,901,100) | 4,148,300) | 3,814,800) | 3,500,300) | 3,447,500) | 3,140,400) | 3,361,300) | 3,164,200) | 3,245,700) | 2,956,200) | 3,162,500) | 2,939,600) | 2,742,700) | ||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||
| Equity turnover1 | 0.90 | 0.92 | 0.96 | 0.96 | 0.96 | 1.04 | 1.13 | 1.15 | 1.05 | 1.09 | 1.13 | 1.11 | 1.19 | 1.08 | 1.12 | 1.06 | 1.16 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 1.20 | 1.23 | 1.19 | 1.11 | 1.06 | 1.03 | 1.03 | 1.06 | 1.03 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cigna Group | 3.66 | 3.56 | 3.40 | 3.36 | 3.16 | 3.24 | 3.24 | 3.39 | 3.36 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 3.87 | 3.82 | 3.79 | 3.81 | 3.86 | 3.86 | 3.87 | 4.01 | 4.00 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Elevance Health Inc. | 3.80 | 3.71 | 3.65 | 3.65 | 3.64 | 3.43 | 3.26 | 3.41 | 3.25 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Humana Inc. | 5.15 | 4.96 | 5.34 | 5.48 | 5.54 | 4.65 | 4.86 | 5.44 | 5.35 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 0.48 | 0.48 | 0.48 | 0.45 | 0.45 | 0.47 | 0.50 | 0.54 | 0.54 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 0.59 | 0.55 | 0.56 | 0.56 | 0.57 | 0.60 | 0.61 | 0.61 | 0.61 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| UnitedHealth Group Inc. | 3.98 | 3.95 | 3.92 | 3.94 | 3.90 | 3.85 | 3.87 | 4.29 | 4.17 | — | — | — | — | — | — | — | — | — | — | — | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q4 2021 Calculation
Equity turnover
= (Net salesQ4 2021
+ Net salesQ3 2021
+ Net salesQ2 2021
+ Net salesQ1 2021)
÷ Stockholders’ equity
= (1,329,700 + 1,310,200 + 1,376,000 + 1,216,600)
÷ 5,835,900 = 0.90
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. | Edwards Lifesciences Corp. equity turnover ratio deteriorated from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |