Stock Analysis on Net

This company has been moved to the archive! The financial data has not been updated since August 1, 2024.

Analysis of Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Kellanova, short-term (operating) activity ratios (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Turnover Ratios
Inventory turnover 7.11 7.15 7.11 6.06 5.91 5.86 6.05 6.21 6.02 6.23 6.88 6.88 6.78 6.97 7.04 7.05 7.35 7.61 7.50
Receivables turnover 7.75 7.79 8.37 7.71 7.50 8.23 8.82 7.51 7.74 8.46 9.52 8.47 8.46 8.40 8.96 8.32 7.96 7.70 8.62
Payables turnover 3.72 3.92 3.82 3.54 3.59 3.64 3.60 3.64 3.53 3.59 3.74 3.75 3.72 3.71 3.66 3.63 3.78 3.89 3.85
Working capital turnover
Average No. Days
Average inventory processing period 51 51 51 60 62 62 60 59 61 59 53 53 54 52 52 52 50 48 49
Add: Average receivable collection period 47 47 44 47 49 44 41 49 47 43 38 43 43 43 41 44 46 47 42
Operating cycle 98 98 95 107 111 106 101 108 108 102 91 96 97 95 93 96 96 95 91
Less: Average payables payment period 98 93 96 103 102 100 101 100 104 102 98 97 98 98 100 100 97 94 95
Cash conversion cycle 0 5 -1 4 9 6 0 8 4 0 -7 -1 -1 -3 -7 -4 -1 1 -4

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Kellanova inventory turnover ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024.
Receivables turnover An activity ratio equal to revenue divided by receivables. Kellanova receivables turnover ratio deteriorated from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Kellanova payables turnover ratio increased from Q4 2023 to Q1 2024 but then decreased significantly from Q1 2024 to Q2 2024.

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.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
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. Kellanova number of days of payables outstanding decreased from Q4 2023 to Q1 2024 but then increased from Q1 2024 to Q2 2024 exceeding Q4 2023 level.
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. Kellanova cash conversion cycle deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 not reaching Q4 2023 level.

Inventory Turnover

Kellanova, inventory turnover calculation (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data (US$ in millions)
Cost of goods sold 2,031 2,169 1,628 2,596 2,257 2,358 2,673 2,793 2,721 2,513 2,415 2,457 2,331 2,418 2,279 2,228 2,268 2,268 2,135 2,372 2,275 2,415
Inventories 1,185 1,210 1,243 1,632 1,706 1,801 1,768 1,682 1,678 1,559 1,398 1,378 1,365 1,319 1,284 1,263 1,230 1,189 1,226 1,200 1,234 1,319
Short-term Activity Ratio
Inventory turnover1 7.11 7.15 7.11 6.06 5.91 5.86 6.05 6.21 6.02 6.23 6.88 6.88 6.78 6.97 7.04 7.05 7.35 7.61 7.50
Benchmarks
Inventory Turnover, Competitors2
Altria Group Inc. 5.23 5.01 5.12 5.34 5.38 5.14 5.46 6.00 5.93 5.73 5.96 6.41 4.10 3.72 3.98 4.10 3.96 3.83 3.09
Coca-Cola Co. 3.85 3.72 4.19 4.33 3.94 3.86 4.25 4.74 4.69 4.26 4.50 4.67 4.37 4.04 4.11 4.11 3.92 4.11 4.33
PepsiCo Inc. 7.12 7.57 7.85 7.59 7.01 7.22 7.77 7.83 7.26 7.95 8.53 8.11 6.82 7.10 7.62 7.43 7.01 8.49 9.03
Philip Morris International Inc. 1.40 1.31 1.20 1.31 1.25 1.10 1.15 1.54 1.41 1.19 1.15 1.20 1.11 1.05 1.00 1.20 1.11 1.16 1.14

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q2 2024 Calculation
Inventory turnover = (Cost of goods soldQ2 2024 + Cost of goods soldQ1 2024 + Cost of goods soldQ4 2023 + Cost of goods soldQ3 2023) ÷ Inventories
= (2,031 + 2,169 + 1,628 + 2,596) ÷ 1,185 = 7.11

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. Kellanova inventory turnover ratio improved from Q4 2023 to Q1 2024 but then deteriorated significantly from Q1 2024 to Q2 2024.

Receivables Turnover

Kellanova, receivables turnover calculation (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data (US$ in millions)
Net sales 3,192 3,200 2,490 3,939 3,351 3,342 3,833 3,946 3,864 3,672 3,420 3,622 3,555 3,584 3,464 3,429 3,465 3,412 3,223 3,372 3,461 3,522
Accounts receivable, net 1,654 1,666 1,568 1,876 1,930 1,820 1,736 1,985 1,884 1,687 1,489 1,680 1,659 1,660 1,537 1,626 1,692 1,748 1,576 1,643 1,643 1,633
Short-term Activity Ratio
Receivables turnover1 7.75 7.79 8.37 7.71 7.50 8.23 8.82 7.51 7.74 8.46 9.52 8.47 8.46 8.40 8.96 8.32 7.96 7.70 8.62
Benchmarks
Receivables Turnover, Competitors2
Altria Group Inc. 333.90 316.10 344.83 431.91 395.05 429.71 522.83 485.38 592.47 562.37 553.47 723.94 199.99 181.90 190.90 171.23 182.78 175.79 165.20
Coca-Cola Co. 10.22 10.86 13.42 12.88 11.12 9.46 12.33 10.60 9.19 8.65 11.01 9.72 9.02 8.89 10.50 8.75 8.92 8.39 9.38
PepsiCo Inc. 7.71 8.40 8.46 7.78 7.87 8.41 8.50 7.79 7.80 8.58 9.16 8.03 7.67 8.03 8.37 7.38 7.71 8.04 8.59
Philip Morris International Inc. 8.60 8.58 10.16 8.81 8.07 8.80 8.25 8.21 8.32 8.65 10.06 9.10 8.50 8.82 9.88 9.40 8.72 10.85 9.68

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q2 2024 Calculation
Receivables turnover = (Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023 + Net salesQ3 2023) ÷ Accounts receivable, net
= (3,192 + 3,200 + 2,490 + 3,939) ÷ 1,654 = 7.75

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. Kellanova receivables turnover ratio deteriorated from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.

Payables Turnover

Kellanova, payables turnover calculation (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data (US$ in millions)
Cost of goods sold 2,031 2,169 1,628 2,596 2,257 2,358 2,673 2,793 2,721 2,513 2,415 2,457 2,331 2,418 2,279 2,228 2,268 2,268 2,135 2,372 2,275 2,415
Accounts payable 2,267 2,209 2,314 2,789 2,810 2,900 2,973 2,871 2,866 2,705 2,573 2,526 2,491 2,476 2,471 2,449 2,393 2,329 2,387 2,338 2,401 2,370
Short-term Activity Ratio
Payables turnover1 3.72 3.92 3.82 3.54 3.59 3.64 3.60 3.64 3.53 3.59 3.74 3.75 3.72 3.71 3.66 3.63 3.78 3.89 3.85
Benchmarks
Payables Turnover, Competitors2
Altria Group Inc. 11.05 12.34 10.68 12.79 14.10 15.61 11.67 15.92 17.13 18.36 15.86 27.28 28.31 26.76 20.57 21.92 27.77 27.63 21.80
Philip Morris International Inc. 3.67 3.58 3.11 3.58 3.28 3.00 2.80 3.29 3.25 3.24 3.01 3.49 3.66 3.72 3.44 4.54 5.00 5.04 4.57

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q2 2024 Calculation
Payables turnover = (Cost of goods soldQ2 2024 + Cost of goods soldQ1 2024 + Cost of goods soldQ4 2023 + Cost of goods soldQ3 2023) ÷ Accounts payable
= (2,031 + 2,169 + 1,628 + 2,596) ÷ 2,267 = 3.72

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. Kellanova payables turnover ratio increased from Q4 2023 to Q1 2024 but then decreased significantly from Q1 2024 to Q2 2024.

Working Capital Turnover

Kellanova, working capital turnover calculation (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data (US$ in millions)
Current assets 3,470 3,450 3,330 4,986 4,288 4,324 4,186 4,444 4,261 3,816 3,394 3,799 3,747 3,639 3,482 4,753 4,492 4,290 3,431 3,492 3,504 3,373
Less: Current liabilities 4,774 5,525 5,060 6,524 6,476 6,001 6,349 6,033 6,051 5,848 5,315 5,029 4,946 5,385 5,238 6,034 5,856 5,595 4,778 4,389 4,989 4,978
Working capital (1,304) (2,075) (1,730) (1,538) (2,188) (1,677) (2,163) (1,589) (1,790) (2,032) (1,921) (1,230) (1,199) (1,746) (1,756) (1,281) (1,364) (1,305) (1,347) (897) (1,485) (1,605)
 
Net sales 3,192 3,200 2,490 3,939 3,351 3,342 3,833 3,946 3,864 3,672 3,420 3,622 3,555 3,584 3,464 3,429 3,465 3,412 3,223 3,372 3,461 3,522
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Altria Group Inc.
Coca-Cola Co. 19.89 41.66 14.47 13.02 12.70 12.35 15.00 15.68 15.83 11.91 14.90 4.58 5.07 6.14 7.12 9.51 13.61
PepsiCo Inc. 31.12
Philip Morris International Inc. 10.52 10.81 15.29 15.02 14.70 109.05 17.73

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q2 2024 Calculation
Working capital turnover = (Net salesQ2 2024 + Net salesQ1 2024 + Net salesQ4 2023 + Net salesQ3 2023) ÷ Working capital
= (3,192 + 3,200 + 2,490 + 3,939) ÷ -1,304 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

Kellanova, average inventory processing period calculation (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data
Inventory turnover 7.11 7.15 7.11 6.06 5.91 5.86 6.05 6.21 6.02 6.23 6.88 6.88 6.78 6.97 7.04 7.05 7.35 7.61 7.50
Short-term Activity Ratio (no. days)
Average inventory processing period1 51 51 51 60 62 62 60 59 61 59 53 53 54 52 52 52 50 48 49
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Altria Group Inc. 70 73 71 68 68 71 67 61 62 64 61 57 89 98 92 89 92 95 118
Coca-Cola Co. 95 98 87 84 93 95 86 77 78 86 81 78 84 90 89 89 93 89 84
PepsiCo Inc. 51 48 46 48 52 51 47 47 50 46 43 45 54 51 48 49 52 43 40
Philip Morris International Inc. 260 279 305 278 291 330 316 237 259 306 317 305 330 349 366 305 329 316 321

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q2 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 7.11 = 51

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.

Average Receivable Collection Period

Kellanova, average receivable collection period calculation (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data
Receivables turnover 7.75 7.79 8.37 7.71 7.50 8.23 8.82 7.51 7.74 8.46 9.52 8.47 8.46 8.40 8.96 8.32 7.96 7.70 8.62
Short-term Activity Ratio (no. days)
Average receivable collection period1 47 47 44 47 49 44 41 49 47 43 38 43 43 43 41 44 46 47 42
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Altria Group Inc. 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2
Coca-Cola Co. 36 34 27 28 33 39 30 34 40 42 33 38 40 41 35 42 41 43 39
PepsiCo Inc. 47 43 43 47 46 43 43 47 47 43 40 45 48 45 44 49 47 45 43
Philip Morris International Inc. 42 43 36 41 45 41 44 44 44 42 36 40 43 41 37 39 42 34 38

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q2 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 7.75 = 47

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.

Operating Cycle

Kellanova, operating cycle calculation (quarterly data)

No. days

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data
Average inventory processing period 51 51 51 60 62 62 60 59 61 59 53 53 54 52 52 52 50 48 49
Average receivable collection period 47 47 44 47 49 44 41 49 47 43 38 43 43 43 41 44 46 47 42
Short-term Activity Ratio
Operating cycle1 98 98 95 107 111 106 101 108 108 102 91 96 97 95 93 96 96 95 91
Benchmarks
Operating Cycle, Competitors2
Altria Group Inc. 71 74 72 69 69 72 68 62 63 65 62 58 91 100 94 91 94 97 120
Coca-Cola Co. 131 132 114 112 126 134 116 111 118 128 114 116 124 131 124 131 134 132 123
PepsiCo Inc. 98 91 89 95 98 94 90 94 97 89 83 90 102 96 92 98 99 88 83
Philip Morris International Inc. 302 322 341 319 336 371 360 281 303 348 353 345 373 390 403 344 371 350 359

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q2 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 51 + 47 = 98

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.

Average Payables Payment Period

Kellanova, average payables payment period calculation (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data
Payables turnover 3.72 3.92 3.82 3.54 3.59 3.64 3.60 3.64 3.53 3.59 3.74 3.75 3.72 3.71 3.66 3.63 3.78 3.89 3.85
Short-term Activity Ratio (no. days)
Average payables payment period1 98 93 96 103 102 100 101 100 104 102 98 97 98 98 100 100 97 94 95
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Altria Group Inc. 33 30 34 29 26 23 31 23 21 20 23 13 13 14 18 17 13 13 17
Philip Morris International Inc. 100 102 117 102 111 122 130 111 112 113 121 105 100 98 106 80 73 72 80

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q2 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.72 = 98

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. Kellanova number of days of payables outstanding decreased from Q4 2023 to Q1 2024 but then increased from Q1 2024 to Q2 2024 exceeding Q4 2023 level.

Cash Conversion Cycle

Kellanova, cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Selected Financial Data
Average inventory processing period 51 51 51 60 62 62 60 59 61 59 53 53 54 52 52 52 50 48 49
Average receivable collection period 47 47 44 47 49 44 41 49 47 43 38 43 43 43 41 44 46 47 42
Average payables payment period 98 93 96 103 102 100 101 100 104 102 98 97 98 98 100 100 97 94 95
Short-term Activity Ratio
Cash conversion cycle1 0 5 -1 4 9 6 0 8 4 0 -7 -1 -1 -3 -7 -4 -1 1 -4
Benchmarks
Cash Conversion Cycle, Competitors2
Altria Group Inc. 38 44 38 40 43 49 37 39 42 45 39 45 78 86 76 74 81 84 103
Philip Morris International Inc. 202 220 224 217 225 249 230 170 191 235 232 240 273 292 297 264 298 278 279

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

1 Q2 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 51 + 4798 = 0

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. Kellanova cash conversion cycle deteriorated from Q4 2023 to Q1 2024 but then improved from Q1 2024 to Q2 2024 not reaching Q4 2023 level.