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.
Long-term Activity Ratios (Summary)
General Dynamics Corp., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | General Dynamics Corp. net fixed asset turnover ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
| 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). | General Dynamics Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2017 to 2018 and from 2018 to 2019. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | General Dynamics Corp. total asset turnover ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | General Dynamics Corp. equity turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Net Fixed Asset Turnover
General Dynamics Corp., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 39,350) | 36,193) | 30,973) | 31,353) | 31,469) | |
| Property, plant and equipment, net | 4,475) | 4,348) | 3,517) | 3,467) | 3,466) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 8.79 | 8.32 | 8.81 | 9.04 | 9.08 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Boeing Co. | 6.12 | — | — | — | — | |
| Caterpillar Inc. | 3.93 | — | — | — | — | |
| Eaton Corp. plc | 6.12 | — | — | — | — | |
| GE Aerospace | 2.02 | — | — | — | — | |
| Honeywell International Inc. | 6.89 | — | — | — | — | |
| Lockheed Martin Corp. | 9.07 | — | — | — | — | |
| RTX Corp. | 6.04 | — | — | — | — | |
| Net Fixed Asset Turnover, Sector | ||||||
| Capital Goods | 4.23 | — | — | — | — | |
| Net Fixed Asset Turnover, Industry | ||||||
| Industrials | 2.76 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Net fixed asset turnover = Revenue ÷ Property, plant and equipment, net
= 39,350 ÷ 4,475 = 8.79
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. | General Dynamics Corp. net fixed asset turnover ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
General Dynamics Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 39,350) | 36,193) | 30,973) | 31,353) | 31,469) | |
| Property, plant and equipment, net | 4,475) | 4,348) | 3,517) | 3,467) | 3,466) | |
| Right-of-use (ROU) assets, operating leases (included in Noncurrent other assets) | 1,432) | —) | —) | —) | —) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 5,907) | 4,348) | 3,517) | 3,467) | 3,466) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 6.66 | 8.32 | 8.81 | 9.04 | 9.08 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Boeing Co. | 5.59 | — | — | — | — | |
| Caterpillar Inc. | 3.75 | — | — | — | — | |
| Eaton Corp. plc | 5.44 | — | — | — | — | |
| GE Aerospace | 1.89 | — | — | — | — | |
| Honeywell International Inc. | 6.12 | — | — | — | — | |
| Lockheed Martin Corp. | 7.88 | — | — | — | — | |
| RTX Corp. | 5.02 | — | — | — | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Capital Goods | 3.86 | — | — | — | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Industrials | 2.57 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 39,350 ÷ 5,907 = 6.66
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). | General Dynamics Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2017 to 2018 and from 2018 to 2019. |
Total Asset Turnover
General Dynamics Corp., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 39,350) | 36,193) | 30,973) | 31,353) | 31,469) | |
| Total assets | 48,841) | 45,408) | 35,046) | 32,872) | 31,997) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.81 | 0.80 | 0.88 | 0.95 | 0.98 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Boeing Co. | 0.57 | — | — | — | — | |
| Caterpillar Inc. | 0.65 | — | — | — | — | |
| Eaton Corp. plc | 0.65 | — | — | — | — | |
| GE Aerospace | 0.33 | — | — | — | — | |
| Honeywell International Inc. | 0.63 | — | — | — | — | |
| Lockheed Martin Corp. | 1.26 | — | — | — | — | |
| RTX Corp. | 0.55 | — | — | — | — | |
| Total Asset Turnover, Sector | ||||||
| Capital Goods | 0.54 | — | — | — | — | |
| Total Asset Turnover, Industry | ||||||
| Industrials | 0.61 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Total asset turnover = Revenue ÷ Total assets
= 39,350 ÷ 48,841 = 0.81
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. | General Dynamics Corp. total asset turnover ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019. |
Equity Turnover
General Dynamics Corp., equity turnover calculation, comparison to benchmarks
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenue | 39,350) | 36,193) | 30,973) | 31,353) | 31,469) | |
| Shareholders’ equity | 13,577) | 11,732) | 11,435) | 10,976) | 10,738) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 2.90 | 3.08 | 2.71 | 2.86 | 2.93 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Boeing Co. | — | — | — | — | — | |
| Caterpillar Inc. | 3.48 | — | — | — | — | |
| Eaton Corp. plc | 1.33 | — | — | — | — | |
| GE Aerospace | 3.09 | — | — | — | — | |
| Honeywell International Inc. | 1.98 | — | — | — | — | |
| Lockheed Martin Corp. | 19.13 | — | — | — | — | |
| RTX Corp. | 1.84 | — | — | — | — | |
| Equity Turnover, Sector | ||||||
| Capital Goods | 3.60 | — | — | — | — | |
| Equity Turnover, Industry | ||||||
| Industrials | 3.53 | — | — | — | — | |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Equity turnover = Revenue ÷ Shareholders’ equity
= 39,350 ÷ 13,577 = 2.90
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. | General Dynamics Corp. equity turnover ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |