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.
Paying user area
Try for free
Johnson Controls International plc pages available for free this week:
- Income Statement
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Johnson Controls International plc for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Long-term Activity Ratios (Summary)
Johnson Controls International plc, long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
The analysis of the financial ratios over the periods presented reveals distinct trends in asset and equity utilization efficiencies.
- Net Fixed Asset Turnover
- This ratio shows a generally stable pattern with slight fluctuations across the observed quarters. Starting from a value of 5.09, it reaches a low point below 7.2 around late 2018 and early 2019, then steadily recovers and maintains levels above 7.3 from mid-2019 onwards. A notable upward trend is observed from early 2022, where the ratio increases progressively from approximately 7.96 to above 8.6 by early 2024, indicating improved efficiency in generating sales from fixed assets.
- Total Asset Turnover
- The total asset turnover ratio remains within a narrow range between 0.53 and 0.64 throughout the periods, reflecting consistent performance. Although slight decreases occur in 2020, corresponding with widely recognized market disruptions, the ratio shows resilience by rebounding moderately and sustaining a gradual upward trend from 2021 onwards, peaking close to 0.63 in early 2024. This suggests a stable but modest efficiency in using total assets to generate revenue.
- Equity Turnover
- The equity turnover ratio demonstrates a positive trajectory over time. Initially around 1.48, it experiences a decline towards 1.21 by the end of 2018, followed by a recovery phase. From 2019 through 2023, the ratio ascends consistently, reaching approximately 1.71 by the first quarter of 2024. This improvement indicates a more effective use of shareholders’ equity in generating sales, reflecting enhanced capital management and operational effectiveness.
Overall, the data illustrate steady improvements in fixed asset and equity utilization efficiencies, while total asset turnover exhibits relative stability with minor variations. These trends suggest a strengthening operational performance with increased productivity of invested capital over the recent reporting periods.
Net Fixed Asset Turnover
Johnson Controls International plc, net fixed asset turnover calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | 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 | Dec 31, 2017 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||||||||
| Property, plant and equipment, net | ||||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||||||
| Net fixed asset turnover1 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||||||||||||
| Eaton Corp. plc | ||||||||||||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
1 Q2 2024 Calculation
Net fixed asset turnover
= (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- The net sales demonstrate considerable variation over the analyzed quarters. Initially, sales ranged between 7,435 million USD and 8,370 million USD up to the third quarter of 2018. A significant decline occurred starting in the last quarter of 2018, with sales dropping to 5,464 million USD and remaining relatively lower throughout 2019 and into 2020. During 2020, the sales figures showed some recovery, fluctuating between approximately 5,341 million USD and 6,392 million USD. From 2021 forward, net sales gradually increased, reaching a peak above 7,000 million USD in several quarters of 2023, although the last data points from late 2023 and early 2024 indicate some volatility and a slight decrease to about 6,094 million USD and 6,699 million USD respectively.
- Property, Plant and Equipment, Net
- The value of property, plant, and equipment saw a notable reduction around the end of 2018, dropping from above 6,000 million USD in previous quarters to near 3,300 million USD. This lower valuation persisted consistently through subsequent quarters until the end of the dataset. Slight fluctuations occurred within this lower range, with periods showing a minor decrease or increase, but no return to the pre-2018 higher levels was observed. The figures ranged mostly between 3,000 million USD and 3,200 million USD from 2019 through early 2024.
- Net Fixed Asset Turnover Ratio
- This ratio could only be assessed from mid-2018 onwards. It started at 5.09 and sharply rose to 8.88 in the following quarter. After this peak, the ratio displayed a gradual declining trend until the end of 2018, reaching approximately 7.16. Subsequent quarters showed relative stability with slight oscillations mostly between 7.16 and 8.64. The ratio experienced a general gradual increase throughout the full period, indicating improved efficiency in generating sales from fixed assets despite the decline in asset values noted earlier.
- Overall Analysis
- The data depict a significant restructuring or change around late 2018, evidenced by the substantial drop in net sales and a concurrent sharp decrease in net property, plant, and equipment values. Despite these declines, the net fixed asset turnover ratio improved dramatically soon after, suggesting enhanced utilization of assets or a leaner asset base generating sales more efficiently. The net sales data, after a period of lower performance in 2019 and 2020, shows a recovery trend with fluctuations but generally trending upwards through 2023. The property, plant, and equipment values remained relatively stable but lower compared to pre-2018 figures, reflecting possibly divestments or asset revaluations. The rising turnover ratio alongside fluctuating but recovering sales indicates a focus on operational efficiency following the reduction in capital assets.
Total Asset Turnover
Johnson Controls International plc, total asset turnover calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | 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 | Dec 31, 2017 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||||||
| Total asset turnover1 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||||||||||||
| Eaton Corp. plc | ||||||||||||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
1 Q2 2024 Calculation
Total asset turnover
= (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several key trends and insights regarding the financial performance and asset utilization over the examined periods.
- Net Sales
- Net sales exhibited considerable fluctuations throughout the periods. Starting at a robust level near the end of 2017 and early 2018, net sales reached a peak in the middle of 2018 with values above 8,000 million USD. Subsequently, there was a notable decline toward the end of 2018, especially in the December quarter, where sales dropped near 5,464 million USD. The subsequent quarters showed partial recovery, with sales generally hovering between approximately 5,300 million and 6,400 million USD from 2019 through 2024. There was an observable recovery trend from early to mid-2023, reaching above 7,100 million USD, though this was followed by a slight decline towards the first quarter of 2024.
- Total Assets
- Total assets displayed a decreasing trajectory starting from about 49,767 million USD at the end of 2017, gradually declining to a low in the range of approximately 40,400 million USD by early 2020. From mid-2020 onward, total assets showed modest recovery and relative stabilization, fluctuating in the range of roughly 41,000 to 43,500 million USD. The later periods into early 2024 showed a slight increase, peaking around 43,981 million USD before settling slightly below 44,000 million USD, indicating a degree of asset base stabilization after prior declines.
- Total Asset Turnover
- The total asset turnover ratio, available only from mid-2018 onwards, illustrated an overall fluctuating yet gradually improving pattern. Starting at 0.64 in June 2018, the ratio trended downward through late 2019 and early 2020, reaching lows near 0.53 to 0.54. However, from late 2020, the ratio began an upward trend, climbing steadily through 2023 to values near or exceeding 0.62. This suggests that the company improved its efficiency in generating sales from its asset base over time, particularly evident in the recent years.
In summary, the company exhibited volatility in net sales with a significant dip in late 2018, followed by a recovery phase in the subsequent years. Total assets contracted significantly from 2017 through 2020 but later showed signs of recovery and stabilization. The improving asset turnover ratio indicates enhanced operational efficiency, with the company generating increasing sales per unit of asset despite fluctuating sales figures. These trends collectively reflect periods of adjustment and restructuring, followed by efficiency gains and moderate growth in sales and asset utilization in more recent quarters.
Equity Turnover
Johnson Controls International plc, equity turnover calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | 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 | Dec 31, 2017 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||||||||
| Shareholders’ equity attributable to Johnson Controls | ||||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||||||
| Equity turnover1 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||||||||||||
| Eaton Corp. plc | ||||||||||||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-K (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31).
1 Q2 2024 Calculation
Equity turnover
= (Net salesQ2 2024
+ Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023)
÷ Shareholders’ equity attributable to Johnson Controls
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Sales
- Net sales exhibited a fluctuating pattern over the reported periods. Initially, there was an upward trend from December 2017 through September 2018, reaching a peak in the third quarter of 2018. However, in the last quarter of 2018, a significant decline is observed, which continues into the first quarter of 2020. A gradual recovery is noted from mid-2020, although the figures do not consistently return to the earlier peak levels, as fluctuations are evident. The latest data from the first quarter of 2024 show a moderate decline compared to the previous quarter, suggesting continuing variability in sales performance.
- Shareholders' Equity Attributable to Johnson Controls
- Shareholders' equity shows a general declining trend throughout the entire period. Starting from just above 20,000 million USD at the end of 2017, the equity decreased steadily, with some minor fluctuations, falling below 16,000 million USD by the first quarter of 2024. This downward movement indicates reductions in net worth or possible distributions exceeding earnings, reflecting underlying challenges or strategic financial decisions impacting equity levels.
- Equity Turnover
- Equity turnover, available from June 2018 onward, presents a positive and generally increasing trend. From a ratio of 1.48 in the second quarter of 2018, the turnover ratio decreased slightly to around 1.21 by the fourth quarter of 2019, indicating a period of reduced efficiency in using equity to generate sales. However, a consistent improvement is visible from early 2020, with the ratio increasing steadily to reach a high of 1.71 in the first quarter of 2024. This upward trend suggests enhanced performance in generating sales relative to equity, potentially reflecting improved operational efficiency or asset utilization over recent years.