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)
Hess Corp., short-term (operating) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Hess Corp. inventory turnover ratio deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Hess Corp. receivables turnover ratio improved from Q1 2023 to Q2 2023 but then deteriorated significantly from Q2 2023 to Q3 2023. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Hess Corp. payables turnover ratio decreased from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Hess Corp. working capital turnover ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| 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. | Hess Corp. number of days of inventory outstanding deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Hess Corp. number of days of receivables outstanding improved from Q1 2023 to Q2 2023 but then deteriorated significantly from Q2 2023 to Q3 2023. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Hess Corp. operating cycle improved from Q1 2023 to Q2 2023 but then deteriorated significantly from Q2 2023 to Q3 2023. |
| 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. | Hess Corp. number of days of payables outstanding increased from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| 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. | Hess Corp. cash conversion cycle improved from Q1 2023 to Q2 2023 but then deteriorated significantly from Q2 2023 to Q3 2023. |
Inventory Turnover
Hess Corp., inventory turnover calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Sales and other operating revenues | 2,800) | 2,289) | 2,411) | 2,934) | 3,122) | 2,955) | 2,313) | 2,237) | 1,759) | 1,579) | 1,898) | 1,321) | 1,159) | 833) | 1,354) | 1,683) | 1,580) | 1,660) | 1,572) | 1,650) | 1,793) | 1,534) | 1,346) | |||||||
| Inventories | 333) | 278) | 229) | 217) | 278) | 317) | 243) | 223) | 262) | 241) | 219) | 378) | 422) | 360) | 230) | 261) | 289) | 278) | 274) | 245) | 263) | 231) | 239) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Inventory turnover1 | 31.33 | 38.69 | 49.88 | 52.18 | 38.23 | 29.22 | 32.46 | 33.51 | 25.03 | 24.72 | 23.79 | 12.35 | 11.92 | 15.14 | 27.29 | 24.89 | 22.36 | 24.01 | 23.90 | 25.81 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 21.48 | 23.28 | 25.16 | 28.58 | 25.22 | 26.71 | 27.10 | 24.68 | 21.96 | 18.60 | 17.05 | 16.64 | 18.34 | 20.86 | 20.59 | 23.92 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 45.23 | 53.99 | 60.05 | 64.39 | 61.22 | 52.97 | 45.80 | 37.94 | 34.71 | 25.71 | 20.45 | 18.75 | 20.31 | 24.82 | 40.74 | 31.74 | — | — | — | — | — | — | — | |||||||
| Exxon Mobil Corp. | 14.16 | 15.02 | 16.69 | 16.32 | 16.05 | 14.93 | 13.84 | 14.73 | 12.30 | 11.14 | 9.86 | 9.47 | 10.95 | 10.88 | 15.09 | 13.79 | — | — | — | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 12.77 | 13.99 | 14.21 | 17.18 | 15.28 | 12.76 | 13.08 | 13.66 | 10.32 | 9.25 | 7.91 | 8.22 | 10.24 | 10.69 | 14.05 | 10.76 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 14.84 | 15.60 | 15.37 | 17.79 | 18.75 | 21.57 | 20.63 | 14.06 | 12.52 | 10.63 | 7.59 | 9.38 | 12.01 | 14.56 | 16.02 | 14.09 | — | — | — | — | — | — | — | |||||||
| Valero Energy Corp. | 18.02 | 20.28 | 20.76 | 23.64 | 23.61 | 20.24 | 17.64 | 17.69 | 15.05 | 13.32 | 10.66 | 10.87 | 13.94 | 15.61 | 28.30 | 14.76 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
1 Q3 2023 Calculation
Inventory turnover
= (Sales and other operating revenuesQ3 2023
+ Sales and other operating revenuesQ2 2023
+ Sales and other operating revenuesQ1 2023
+ Sales and other operating revenuesQ4 2022)
÷ Inventories
= (2,800 + 2,289 + 2,411 + 2,934)
÷ 333 = 31.33
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. | Hess Corp. inventory turnover ratio deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Receivables Turnover
Hess Corp., receivables turnover calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Sales and other operating revenues | 2,800) | 2,289) | 2,411) | 2,934) | 3,122) | 2,955) | 2,313) | 2,237) | 1,759) | 1,579) | 1,898) | 1,321) | 1,159) | 833) | 1,354) | 1,683) | 1,580) | 1,660) | 1,572) | 1,650) | 1,793) | 1,534) | 1,346) | |||||||
| Accounts receivable | 1,460) | 1,019) | 1,207) | 1,162) | 1,375) | 1,406) | 1,524) | 1,211) | 1,094) | 1,002) | 1,011) | 860) | 699) | 596) | 794) | 1,170) | 1,122) | 1,060) | 1,116) | 1,001) | 1,182) | 1,075) | 997) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Receivables turnover1 | 7.15 | 10.56 | 9.46 | 9.75 | 7.73 | 6.59 | 5.18 | 6.17 | 5.99 | 5.95 | 5.15 | 5.43 | 7.19 | 9.14 | 7.91 | 5.55 | 5.76 | 6.30 | 5.87 | 6.32 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 9.21 | 11.10 | 12.21 | 11.52 | 10.11 | 7.67 | 7.60 | 8.45 | 8.12 | 7.39 | 6.79 | 8.24 | 10.72 | 13.42 | 13.32 | 10.50 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 10.60 | 14.77 | 14.31 | 11.09 | 10.23 | 8.09 | 6.89 | 7.00 | 6.78 | 6.65 | 5.17 | 7.13 | 10.59 | 17.42 | 13.98 | 9.97 | — | — | — | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 12.19 | 15.26 | 17.18 | 13.17 | 12.85 | 9.22 | 8.64 | 10.87 | 10.79 | 8.98 | 9.41 | 12.11 | 16.88 | 22.14 | 21.12 | 15.75 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 7.98 | 11.07 | 10.85 | 8.56 | 8.98 | 5.31 | 5.34 | 6.17 | 6.39 | 5.94 | 5.41 | 8.42 | 9.57 | 9.12 | 9.36 | 3.20 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
1 Q3 2023 Calculation
Receivables turnover
= (Sales and other operating revenuesQ3 2023
+ Sales and other operating revenuesQ2 2023
+ Sales and other operating revenuesQ1 2023
+ Sales and other operating revenuesQ4 2022)
÷ Accounts receivable
= (2,800 + 2,289 + 2,411 + 2,934)
÷ 1,460 = 7.15
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. | Hess Corp. receivables turnover ratio improved from Q1 2023 to Q2 2023 but then deteriorated significantly from Q2 2023 to Q3 2023. |
Payables Turnover
Hess Corp., payables turnover calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Sales and other operating revenues | 2,800) | 2,289) | 2,411) | 2,934) | 3,122) | 2,955) | 2,313) | 2,237) | 1,759) | 1,579) | 1,898) | 1,321) | 1,159) | 833) | 1,354) | 1,683) | 1,580) | 1,660) | 1,572) | 1,650) | 1,793) | 1,534) | 1,346) | |||||||
| Accounts payable | 426) | 350) | 344) | 285) | 321) | 359) | 312) | 220) | 210) | 178) | 172) | 200) | 200) | 307) | 431) | 411) | 396) | 353) | 399) | 495) | 383) | 363) | 375) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Payables turnover1 | 24.49 | 30.73 | 33.20 | 39.73 | 33.11 | 25.81 | 25.28 | 33.97 | 31.22 | 33.47 | 30.30 | 23.34 | 25.15 | 17.75 | 14.56 | 15.80 | 16.32 | 18.91 | 16.41 | 12.77 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 9.35 | 11.48 | 12.94 | 12.44 | 10.46 | 8.28 | 8.78 | 9.46 | 8.79 | 7.88 | 7.45 | 8.63 | 10.93 | 13.94 | 12.30 | 9.92 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 11.72 | 14.52 | 14.88 | 12.84 | 12.02 | 11.18 | 11.03 | 9.16 | 8.83 | 8.15 | 5.94 | 7.04 | 9.47 | 11.83 | 10.20 | 10.25 | — | — | — | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 8.18 | 10.22 | 11.20 | 9.91 | 9.01 | 6.27 | 6.27 | 8.03 | 7.79 | 6.75 | 6.68 | 8.42 | 11.31 | 14.15 | 12.91 | 9.48 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 7.50 | 8.87 | 10.11 | 9.09 | 9.78 | 6.49 | 6.22 | 6.66 | 5.98 | 5.51 | 4.83 | 5.96 | 7.43 | 7.09 | 5.98 | 2.91 | — | — | — | — | — | — | — | |||||||
| Valero Energy Corp. | 10.15 | 13.04 | 14.75 | 12.54 | 12.04 | 8.69 | 8.31 | 8.87 | 9.54 | 8.00 | 6.88 | 10.79 | 14.26 | 18.19 | 17.61 | 10.15 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
1 Q3 2023 Calculation
Payables turnover
= (Sales and other operating revenuesQ3 2023
+ Sales and other operating revenuesQ2 2023
+ Sales and other operating revenuesQ1 2023
+ Sales and other operating revenuesQ4 2022)
÷ Accounts payable
= (2,800 + 2,289 + 2,411 + 2,934)
÷ 426 = 24.49
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. | Hess Corp. payables turnover ratio decreased from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Working Capital Turnover
Hess Corp., working capital turnover calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current assets | 3,916) | 3,704) | 3,799) | 3,931) | 4,123) | 3,969) | 3,266) | 4,346) | 3,892) | 3,969) | 3,522) | 3,081) | 3,136) | 3,115) | 4,270) | 3,156) | 3,398) | 3,684) | 3,834) | 4,459) | 4,501) | 4,694) | 5,014) | |||||||
| Less: Current liabilities | 2,996) | 2,403) | 2,308) | 2,396) | 2,312) | 2,355) | 2,303) | 3,064) | 2,749) | 2,527) | 1,690) | 1,623) | 1,426) | 1,564) | 1,947) | 2,510) | 2,344) | 2,332) | 2,271) | 2,203) | 1,958) | 1,945) | 1,904) | |||||||
| Working capital | 920) | 1,301) | 1,491) | 1,535) | 1,811) | 1,614) | 963) | 1,282) | 1,143) | 1,442) | 1,832) | 1,458) | 1,710) | 1,551) | 2,323) | 646) | 1,054) | 1,352) | 1,563) | 2,256) | 2,543) | 2,749) | 3,110) | |||||||
| Sales and other operating revenues | 2,800) | 2,289) | 2,411) | 2,934) | 3,122) | 2,955) | 2,313) | 2,237) | 1,759) | 1,579) | 1,898) | 1,321) | 1,159) | 833) | 1,354) | 1,683) | 1,580) | 1,660) | 1,572) | 1,650) | 1,793) | 1,534) | 1,346) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Working capital turnover1 | 11.34 | 8.27 | 7.66 | 7.38 | 5.87 | 5.74 | 8.19 | 5.83 | 5.74 | 4.13 | 2.84 | 3.20 | 2.94 | 3.51 | 2.70 | 10.05 | 6.13 | 4.94 | 4.19 | 2.80 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 23.91 | 16.54 | 15.89 | 14.61 | 15.53 | 17.08 | 13.09 | 22.40 | 19.37 | 24.04 | 32.46 | 24.25 | 20.28 | 39.55 | 414.01 | 77.75 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 8.76 | 16.88 | 16.56 | 13.30 | 11.63 | 9.84 | 9.02 | 11.37 | 3.72 | 3.24 | 3.02 | 2.80 | 3.27 | 3.51 | 4.18 | 3.30 | — | — | — | — | — | — | — | |||||||
| Exxon Mobil Corp. | 11.56 | 12.16 | 12.91 | 13.95 | 15.33 | 26.98 | 59.06 | 110.19 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 10.45 | 10.63 | 11.29 | 11.66 | 12.38 | 11.41 | 12.01 | 9.52 | 5.95 | 4.60 | 4.92 | 5.53 | 6.93 | 30.75 | 55.50 | 30.81 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | — | — | 50.58 | 32.45 | 44.63 | 49.75 | 21.36 | 13.76 | 28.72 | 5.99 | 11.43 | 29.88 | 102.74 | — | 10.72 | 5.46 | — | — | — | — | — | — | — | |||||||
| Valero Energy Corp. | 16.82 | 17.97 | 21.87 | 26.44 | 31.24 | 28.60 | 37.33 | 26.42 | 21.15 | 15.70 | 12.04 | 9.89 | 10.44 | 16.04 | 38.84 | 18.65 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
1 Q3 2023 Calculation
Working capital turnover
= (Sales and other operating revenuesQ3 2023
+ Sales and other operating revenuesQ2 2023
+ Sales and other operating revenuesQ1 2023
+ Sales and other operating revenuesQ4 2022)
÷ Working capital
= (2,800 + 2,289 + 2,411 + 2,934)
÷ 920 = 11.34
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. | Hess Corp. working capital turnover ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Average Inventory Processing Period
Hess Corp., average inventory processing period calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Inventory turnover | 31.33 | 38.69 | 49.88 | 52.18 | 38.23 | 29.22 | 32.46 | 33.51 | 25.03 | 24.72 | 23.79 | 12.35 | 11.92 | 15.14 | 27.29 | 24.89 | 22.36 | 24.01 | 23.90 | 25.81 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||||
| Average inventory processing period1 | 12 | 9 | 7 | 7 | 10 | 12 | 11 | 11 | 15 | 15 | 15 | 30 | 31 | 24 | 13 | 15 | 16 | 15 | 15 | 14 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 17 | 16 | 15 | 13 | 14 | 14 | 13 | 15 | 17 | 20 | 21 | 22 | 20 | 17 | 18 | 15 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 8 | 7 | 6 | 6 | 6 | 7 | 8 | 10 | 11 | 14 | 18 | 19 | 18 | 15 | 9 | 11 | — | — | — | — | — | — | — | |||||||
| Exxon Mobil Corp. | 26 | 24 | 22 | 22 | 23 | 24 | 26 | 25 | 30 | 33 | 37 | 39 | 33 | 34 | 24 | 26 | — | — | — | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 29 | 26 | 26 | 21 | 24 | 29 | 28 | 27 | 35 | 39 | 46 | 44 | 36 | 34 | 26 | 34 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 25 | 23 | 24 | 21 | 19 | 17 | 18 | 26 | 29 | 34 | 48 | 39 | 30 | 25 | 23 | 26 | — | — | — | — | — | — | — | |||||||
| Valero Energy Corp. | 20 | 18 | 18 | 15 | 15 | 18 | 21 | 21 | 24 | 27 | 34 | 34 | 26 | 23 | 13 | 25 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
1 Q3 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 31.33 = 12
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. | Hess Corp. number of days of inventory outstanding deteriorated from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Average Receivable Collection Period
Hess Corp., average receivable collection period calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Receivables turnover | 7.15 | 10.56 | 9.46 | 9.75 | 7.73 | 6.59 | 5.18 | 6.17 | 5.99 | 5.95 | 5.15 | 5.43 | 7.19 | 9.14 | 7.91 | 5.55 | 5.76 | 6.30 | 5.87 | 6.32 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||||
| Average receivable collection period1 | 51 | 35 | 39 | 37 | 47 | 55 | 71 | 59 | 61 | 61 | 71 | 67 | 51 | 40 | 46 | 66 | 63 | 58 | 62 | 58 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 40 | 33 | 30 | 32 | 36 | 48 | 48 | 43 | 45 | 49 | 54 | 44 | 34 | 27 | 27 | 35 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 34 | 25 | 26 | 33 | 36 | 45 | 53 | 52 | 54 | 55 | 71 | 51 | 34 | 21 | 26 | 37 | — | — | — | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 30 | 24 | 21 | 28 | 28 | 40 | 42 | 34 | 34 | 41 | 39 | 30 | 22 | 16 | 17 | 23 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 46 | 33 | 34 | 43 | 41 | 69 | 68 | 59 | 57 | 61 | 67 | 43 | 38 | 40 | 39 | 114 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
1 Q3 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 7.15 = 51
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. | Hess Corp. number of days of receivables outstanding improved from Q1 2023 to Q2 2023 but then deteriorated significantly from Q2 2023 to Q3 2023. |
Operating Cycle
Hess Corp., operating cycle calculation (quarterly data)
No. days
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Average inventory processing period | 12 | 9 | 7 | 7 | 10 | 12 | 11 | 11 | 15 | 15 | 15 | 30 | 31 | 24 | 13 | 15 | 16 | 15 | 15 | 14 | — | — | — | |||||||
| Average receivable collection period | 51 | 35 | 39 | 37 | 47 | 55 | 71 | 59 | 61 | 61 | 71 | 67 | 51 | 40 | 46 | 66 | 63 | 58 | 62 | 58 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Operating cycle1 | 63 | 44 | 46 | 44 | 57 | 67 | 82 | 70 | 76 | 76 | 86 | 97 | 82 | 64 | 59 | 81 | 79 | 73 | 77 | 72 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 57 | 49 | 45 | 45 | 50 | 62 | 61 | 58 | 62 | 69 | 75 | 66 | 54 | 44 | 45 | 50 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 42 | 32 | 32 | 39 | 42 | 52 | 61 | 62 | 65 | 69 | 89 | 70 | 52 | 36 | 35 | 48 | — | — | — | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 59 | 50 | 47 | 49 | 52 | 69 | 70 | 61 | 69 | 80 | 85 | 74 | 58 | 50 | 43 | 57 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 71 | 56 | 58 | 64 | 60 | 86 | 86 | 85 | 86 | 95 | 115 | 82 | 68 | 65 | 62 | 140 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
1 Q3 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 12 + 51 = 63
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. | Hess Corp. operating cycle improved from Q1 2023 to Q2 2023 but then deteriorated significantly from Q2 2023 to Q3 2023. |
Average Payables Payment Period
Hess Corp., average payables payment period calculation (quarterly data)
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Payables turnover | 24.49 | 30.73 | 33.20 | 39.73 | 33.11 | 25.81 | 25.28 | 33.97 | 31.22 | 33.47 | 30.30 | 23.34 | 25.15 | 17.75 | 14.56 | 15.80 | 16.32 | 18.91 | 16.41 | 12.77 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||||
| Average payables payment period1 | 15 | 12 | 11 | 9 | 11 | 14 | 14 | 11 | 12 | 11 | 12 | 16 | 15 | 21 | 25 | 23 | 22 | 19 | 22 | 29 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 39 | 32 | 28 | 29 | 35 | 44 | 42 | 39 | 42 | 46 | 49 | 42 | 33 | 26 | 30 | 37 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 31 | 25 | 25 | 28 | 30 | 33 | 33 | 40 | 41 | 45 | 61 | 52 | 39 | 31 | 36 | 36 | — | — | — | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 45 | 36 | 33 | 37 | 41 | 58 | 58 | 45 | 47 | 54 | 55 | 43 | 32 | 26 | 28 | 38 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 49 | 41 | 36 | 40 | 37 | 56 | 59 | 55 | 61 | 66 | 76 | 61 | 49 | 51 | 61 | 126 | — | — | — | — | — | — | — | |||||||
| Valero Energy Corp. | 36 | 28 | 25 | 29 | 30 | 42 | 44 | 41 | 38 | 46 | 53 | 34 | 26 | 20 | 21 | 36 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
1 Q3 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 24.49 = 15
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. | Hess Corp. number of days of payables outstanding increased from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Cash Conversion Cycle
Hess Corp., cash conversion cycle calculation (quarterly data)
No. days
| Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||||
| Average inventory processing period | 12 | 9 | 7 | 7 | 10 | 12 | 11 | 11 | 15 | 15 | 15 | 30 | 31 | 24 | 13 | 15 | 16 | 15 | 15 | 14 | — | — | — | |||||||
| Average receivable collection period | 51 | 35 | 39 | 37 | 47 | 55 | 71 | 59 | 61 | 61 | 71 | 67 | 51 | 40 | 46 | 66 | 63 | 58 | 62 | 58 | — | — | — | |||||||
| Average payables payment period | 15 | 12 | 11 | 9 | 11 | 14 | 14 | 11 | 12 | 11 | 12 | 16 | 15 | 21 | 25 | 23 | 22 | 19 | 22 | 29 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||||
| Cash conversion cycle1 | 48 | 32 | 35 | 35 | 46 | 53 | 68 | 59 | 64 | 65 | 74 | 81 | 67 | 43 | 34 | 58 | 57 | 54 | 55 | 43 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||||||
| Chevron Corp. | 18 | 17 | 17 | 16 | 15 | 18 | 19 | 19 | 20 | 23 | 26 | 24 | 21 | 18 | 15 | 13 | — | — | — | — | — | — | — | |||||||
| ConocoPhillips | 11 | 7 | 7 | 11 | 12 | 19 | 28 | 22 | 24 | 24 | 28 | 18 | 13 | 5 | -1 | 12 | — | — | — | — | — | — | — | |||||||
| Marathon Petroleum Corp. | 14 | 14 | 14 | 12 | 11 | 11 | 12 | 16 | 22 | 26 | 30 | 31 | 26 | 24 | 15 | 19 | — | — | — | — | — | — | — | |||||||
| Occidental Petroleum Corp. | 22 | 15 | 22 | 24 | 23 | 30 | 27 | 30 | 25 | 29 | 39 | 21 | 19 | 14 | 1 | 14 | — | — | — | — | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
1 Q3 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 12 + 51 – 15 = 48
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. | Hess Corp. cash conversion cycle improved from Q1 2023 to Q2 2023 but then deteriorated significantly from Q2 2023 to Q3 2023. |