Analysis of Short-term (Operating) 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.
Short-term Activity Ratios (Summary)
Edwards Lifesciences Corp., short-term (operating) 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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Edwards Lifesciences Corp. inventory turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Edwards Lifesciences Corp. receivables turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Edwards Lifesciences Corp. working capital turnover ratio deteriorated from Q2 2021 to Q3 2021 but then improved from Q3 2021 to Q4 2021 exceeding Q2 2021 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. | Edwards Lifesciences Corp. number of days of inventory outstanding improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Edwards Lifesciences Corp. number of days of receivables outstanding improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Edwards Lifesciences Corp. operating cycle improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Inventory Turnover
Edwards Lifesciences Corp., inventory 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) | ||||||||||||||||||||||||||
| Cost of sales | 309,500) | 311,700) | 334,300) | 293,400) | 296,300) | 281,000) | 238,200) | 265,100) | 286,200) | 292,400) | 304,000) | 231,800) | 234,700) | 224,900) | 246,200) | 233,600) | 235,300) | 213,300) | 211,100) | 215,600) | ||||||
| Inventories | 726,700) | 737,800) | 759,500) | 767,900) | 802,300) | 773,300) | 735,100) | 662,200) | 640,900) | 611,100) | 624,900) | 630,900) | 607,000) | 583,800) | 568,100) | 573,900) | 554,900) | 538,400) | 491,600) | 431,400) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Inventory turnover1 | 1.72 | 1.67 | 1.59 | 1.44 | 1.35 | 1.38 | 1.47 | 1.73 | 1.74 | 1.74 | 1.59 | 1.49 | 1.55 | 1.61 | 1.63 | 1.56 | 1.58 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 3.59 | 3.47 | 3.27 | 2.99 | 2.99 | 2.71 | 2.56 | 2.92 | 3.07 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cigna Group | 31.58 | 37.54 | 36.13 | 36.50 | 32.70 | 37.84 | 36.30 | 38.13 | 36.70 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 13.52 | 13.49 | 13.48 | 12.57 | 11.88 | 12.43 | 13.03 | 12.68 | 12.06 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 2.98 | 2.90 | 2.84 | 2.64 | 2.49 | 2.18 | 2.22 | 2.30 | 2.30 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 2.43 | 2.24 | 2.20 | 2.10 | 2.23 | 2.34 | 2.35 | 2.37 | 2.44 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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
Inventory turnover
= (Cost of salesQ4 2021
+ Cost of salesQ3 2021
+ Cost of salesQ2 2021
+ Cost of salesQ1 2021)
÷ Inventories
= (309,500 + 311,700 + 334,300 + 293,400)
÷ 726,700 = 1.72
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. | Edwards Lifesciences Corp. inventory turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Receivables Turnover
Edwards Lifesciences Corp., receivables 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) | ||||||
| Accounts receivable, net of allowances | 582,200) | 600,600) | 640,500) | 586,600) | 514,600) | 549,700) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Receivables turnover1 | 8.99 | 8.48 | 7.69 | 7.63 | 8.52 | 7.95 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 6.64 | 6.61 | 6.58 | 6.13 | 5.40 | 5.70 | 6.12 | 6.06 | 5.88 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 11.91 | 11.23 | 11.48 | 11.32 | 12.32 | 11.14 | 11.68 | 11.33 | 13.04 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Elevance Health Inc. | 20.66 | 18.93 | 18.81 | 17.39 | 19.72 | 18.91 | 18.04 | 16.74 | 18.20 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Humana Inc. | 45.69 | 42.91 | 32.51 | 35.43 | 66.78 | 64.58 | 31.30 | 33.43 | 60.97 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 7.30 | 7.90 | 7.38 | 6.96 | 6.75 | 7.32 | 8.56 | 8.73 | 6.94 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 5.51 | 5.35 | 5.21 | 5.73 | 6.22 | 4.97 | 5.05 | 5.20 | 4.91 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| UnitedHealth Group Inc. | 20.07 | 19.60 | 18.53 | 16.35 | 19.86 | 20.63 | 19.62 | 16.73 | 20.32 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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
Receivables turnover
= (Net salesQ4 2021
+ Net salesQ3 2021
+ Net salesQ2 2021
+ Net salesQ1 2021)
÷ Accounts receivable, net of allowances
= (1,329,700 + 1,310,200 + 1,376,000 + 1,216,600)
÷ 582,200 = 8.99
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. | Edwards Lifesciences Corp. receivables turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Payables Turnover
Edwards Lifesciences Corp., payables 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) | ||||||||||||||||||||||||||
| Cost of sales | 309,500) | 311,700) | 334,300) | 293,400) | 296,300) | 281,000) | 238,200) | 265,100) | 286,200) | 292,400) | 304,000) | 231,800) | 234,700) | 224,900) | 246,200) | 233,600) | 235,300) | 213,300) | 211,100) | 215,600) | ||||||
| Accounts payable | 204,500) | 139,500) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Payables turnover1 | 6.11 | 8.86 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 4.21 | 4.55 | 4.43 | 3.97 | 3.80 | 4.37 | 4.00 | 4.20 | 4.07 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cigna Group | 7.68 | 7.71 | 7.60 | 7.74 | 7.75 | 8.02 | 8.30 | 9.06 | 9.34 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 19.14 | 18.49 | 20.72 | 20.50 | 19.72 | 18.61 | 21.70 | 21.06 | 20.13 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Elevance Health Inc. | 7.59 | 7.31 | 7.30 | 7.31 | 7.75 | 8.32 | 8.42 | 8.48 | 9.25 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Humana Inc. | 8.35 | 7.76 | 7.81 | 7.32 | 7.57 | 7.20 | 7.12 | 7.90 | 8.97 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 14.45 | 14.13 | 13.71 | 14.80 | 18.35 | 12.46 | 13.18 | 10.69 | 11.08 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 4.98 | 5.56 | 5.19 | 5.56 | 4.72 | 4.96 | 4.84 | 4.89 | 4.69 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| UnitedHealth Group Inc. | 7.63 | 6.98 | 6.97 | 6.58 | 7.29 | 7.40 | 8.02 | 6.96 | 7.21 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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
Payables turnover
= (Cost of salesQ4 2021
+ Cost of salesQ3 2021
+ Cost of salesQ2 2021
+ Cost of salesQ1 2021)
÷ Accounts payable
= (309,500 + 311,700 + 334,300 + 293,400)
÷ 204,500 = 6.11
2 Click competitor name to see calculations.
Working Capital Turnover
Edwards Lifesciences Corp., working capital 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) | ||||||||||||||||||||||||||
| Current assets | 3,180,700) | 3,515,500) | 3,322,900) | 3,069,200) | 3,091,000) | 2,980,400) | 2,690,300) | 2,507,900) | 2,984,000) | 2,739,700) | 2,354,700) | 2,368,800) | 2,286,900) | 2,912,600) | 2,696,000) | 2,716,900) | 2,532,100) | 2,566,400) | 2,283,400) | 2,018,400) | ||||||
| Less: Current liabilities | 1,032,300) | 966,500) | 886,200) | 799,000) | 893,900) | 846,300) | 873,200) | 746,900) | 902,400) | 775,800) | 697,000) | 646,500) | 876,600) | 1,261,100) | 1,183,200) | 1,314,500) | 1,402,900) | 735,200) | 562,500) | 584,800) | ||||||
| Working capital | 2,148,400) | 2,549,000) | 2,436,700) | 2,270,200) | 2,197,100) | 2,134,100) | 1,817,100) | 1,761,000) | 2,081,600) | 1,963,900) | 1,657,700) | 1,722,300) | 1,410,300) | 1,651,500) | 1,512,800) | 1,402,400) | 1,129,200) | 1,831,200) | 1,720,900) | 1,433,600) | ||||||
| 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) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Working capital turnover1 | 2.44 | 2.00 | 2.02 | 1.97 | 2.00 | 2.05 | 2.38 | 2.55 | 2.09 | 2.11 | 2.39 | 2.22 | 2.64 | 2.20 | 2.35 | 2.46 | 3.04 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 3.87 | 3.98 | 4.02 | 3.99 | 4.06 | 4.52 | 5.02 | 6.84 | 6.64 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cigna Group | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Elevance Health Inc. | 7.23 | 6.79 | 6.67 | 5.38 | 6.39 | 5.98 | 5.40 | 6.81 | 6.11 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Humana Inc. | 8.67 | 7.47 | 7.38 | 7.61 | 7.42 | 6.04 | 6.14 | 6.91 | 7.19 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 1.22 | 1.17 | 1.03 | 0.88 | 0.77 | 0.80 | 0.88 | 1.23 | 1.23 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 2.15 | 2.02 | 2.00 | 2.44 | 2.48 | 2.03 | 2.13 | 2.16 | 2.26 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| UnitedHealth Group Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
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
Working capital turnover
= (Net salesQ4 2021
+ Net salesQ3 2021
+ Net salesQ2 2021
+ Net salesQ1 2021)
÷ Working capital
= (1,329,700 + 1,310,200 + 1,376,000 + 1,216,600)
÷ 2,148,400 = 2.44
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. | Edwards Lifesciences Corp. working capital turnover ratio deteriorated from Q2 2021 to Q3 2021 but then improved from Q3 2021 to Q4 2021 exceeding Q2 2021 level. |
Average Inventory Processing Period
Edwards Lifesciences Corp., average inventory processing period 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 | ||||||||||||||||||||||||||
| Inventory turnover | 1.72 | 1.67 | 1.59 | 1.44 | 1.35 | 1.38 | 1.47 | 1.73 | 1.74 | 1.74 | 1.59 | 1.49 | 1.55 | 1.61 | 1.63 | 1.56 | 1.58 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average inventory processing period1 | 212 | 218 | 230 | 253 | 271 | 264 | 248 | 211 | 210 | 210 | 229 | 246 | 236 | 227 | 223 | 234 | 231 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 102 | 105 | 111 | 122 | 122 | 135 | 142 | 125 | 119 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cigna Group | 12 | 10 | 10 | 10 | 11 | 10 | 10 | 10 | 10 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 27 | 27 | 27 | 29 | 31 | 29 | 28 | 29 | 30 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 122 | 126 | 129 | 138 | 147 | 167 | 164 | 159 | 159 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 150 | 163 | 166 | 174 | 164 | 156 | 155 | 154 | 150 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 1.72 = 212
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. | Edwards Lifesciences Corp. number of days of inventory outstanding improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Average Receivable Collection Period
Edwards Lifesciences Corp., average receivable collection period 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 | ||||||||||||||||||||||||||
| Receivables turnover | 8.99 | 8.48 | 7.69 | 7.63 | 8.52 | 7.95 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average receivable collection period1 | 41 | 43 | 47 | 48 | 43 | 46 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 55 | 55 | 55 | 60 | 68 | 64 | 60 | 60 | 62 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 31 | 32 | 32 | 32 | 30 | 33 | 31 | 32 | 28 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Elevance Health Inc. | 18 | 19 | 19 | 21 | 19 | 19 | 20 | 22 | 20 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Humana Inc. | 8 | 9 | 11 | 10 | 5 | 6 | 12 | 11 | 6 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 50 | 46 | 49 | 52 | 54 | 50 | 43 | 42 | 53 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 66 | 68 | 70 | 64 | 59 | 73 | 72 | 70 | 74 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| UnitedHealth Group Inc. | 18 | 19 | 20 | 22 | 18 | 18 | 19 | 22 | 18 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 8.99 = 41
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. | Edwards Lifesciences Corp. number of days of receivables outstanding improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Operating Cycle
Edwards Lifesciences Corp., operating cycle calculation (quarterly data)
No. days
| 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 | ||||||||||||||||||||||||||
| Average inventory processing period | 212 | 218 | 230 | 253 | 271 | 264 | 248 | 211 | 210 | 210 | 229 | 246 | 236 | 227 | 223 | 234 | 231 | — | — | — | ||||||
| Average receivable collection period | 41 | 43 | 47 | 48 | 43 | 46 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Operating cycle1 | 253 | 261 | 277 | 301 | 314 | 310 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 157 | 160 | 166 | 182 | 190 | 199 | 202 | 185 | 181 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 58 | 59 | 59 | 61 | 61 | 62 | 59 | 61 | 58 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 172 | 172 | 178 | 190 | 201 | 217 | 207 | 201 | 212 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 216 | 231 | 236 | 238 | 223 | 229 | 227 | 224 | 224 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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
Operating cycle = Average inventory processing period + Average receivable collection period
= 212 + 41 = 253
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. | Edwards Lifesciences Corp. operating cycle improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021. |
Average Payables Payment Period
Edwards Lifesciences Corp., average payables payment period 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 | ||||||||||||||||||||||||||
| Payables turnover | 6.11 | 8.86 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average payables payment period1 | 60 | 41 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 87 | 80 | 82 | 92 | 96 | 83 | 91 | 87 | 90 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Cigna Group | 48 | 47 | 48 | 47 | 47 | 46 | 44 | 40 | 39 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 19 | 20 | 18 | 18 | 19 | 20 | 17 | 17 | 18 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Elevance Health Inc. | 48 | 50 | 50 | 50 | 47 | 44 | 43 | 43 | 39 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Humana Inc. | 44 | 47 | 47 | 50 | 48 | 51 | 51 | 46 | 41 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 25 | 26 | 27 | 25 | 20 | 29 | 28 | 34 | 33 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 73 | 66 | 70 | 66 | 77 | 74 | 75 | 75 | 78 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| UnitedHealth Group Inc. | 48 | 52 | 52 | 56 | 50 | 49 | 46 | 52 | 51 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.11 = 60
2 Click competitor name to see calculations.
Cash Conversion Cycle
Edwards Lifesciences Corp., cash conversion cycle calculation (quarterly data)
No. days
| 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 | ||||||||||||||||||||||||||
| Average inventory processing period | 212 | 218 | 230 | 253 | 271 | 264 | 248 | 211 | 210 | 210 | 229 | 246 | 236 | 227 | 223 | 234 | 231 | — | — | — | ||||||
| Average receivable collection period | 41 | 43 | 47 | 48 | 43 | 46 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Average payables payment period | 60 | 41 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Cash conversion cycle1 | 193 | 220 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||
| Abbott Laboratories | 70 | 80 | 84 | 90 | 94 | 116 | 111 | 98 | 91 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| CVS Health Corp. | 39 | 39 | 41 | 43 | 42 | 42 | 42 | 44 | 40 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Intuitive Surgical Inc. | 147 | 146 | 151 | 165 | 181 | 188 | 179 | 167 | 179 | — | — | — | — | — | — | — | — | — | — | — | ||||||
| Medtronic PLC | 143 | 165 | 166 | 172 | 146 | 155 | 152 | 149 | 146 | — | — | — | — | — | — | — | — | — | — | — | ||||||
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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 212 + 41 – 60 = 193
2 Click competitor name to see calculations.