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.
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
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Long-term Activity Ratios (Summary)
Monsanto Co., long-term (investment) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30), 10-K (reporting date: 2013-08-31), 10-Q (reporting date: 2013-05-31), 10-Q (reporting date: 2013-02-28), 10-Q (reporting date: 2012-11-30), 10-K (reporting date: 2012-08-31), 10-Q (reporting date: 2012-05-31), 10-Q (reporting date: 2012-02-29), 10-Q (reporting date: 2011-11-30).
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio was not available initially but begins from the period ending November 30, 2012. The ratio starts at 3.09 and shows a gradual increase, peaking at 3.35 in May 2013. Thereafter, it fluctuates slightly but generally trends downward over the subsequent years, decreasing notably from early 2015 onward. By the last reported period of February 28, 2018, the ratio declined to 2.39, representing a significant reduction in turnover efficiency of fixed assets over time.
- Total Asset Turnover
- Available data on total asset turnover begins in November 2012, where the ratio starts at 0.67. It experiences minor fluctuations throughout the observed periods, generally remaining within a range of approximately 0.62 to 0.72. The ratio shows some dips and recoveries but lacks any strong upward or downward trend. By February 2018, the ratio slightly decreases to around 0.64, indicating relative stability in overall asset utilization efficiency with minor variability over the years.
- Equity Turnover
- The equity turnover ratio data begins in November 2012 at 1.14 and remains close to that value in subsequent quarters, hovering around the 1.1–1.2 range until early 2014. At that point, the ratio approximately doubles, reaching over 2.0 from November 2014 to mid-2015. Following this increase, the ratio exhibits considerable volatility, peaking at a high of 4.03 in February 2016 but then declining steadily through the remainder of the periods analyzed. By the final period of February 2018, the equity turnover ratio falls to 1.88, higher than the initial periods but significantly below its peak, reflecting fluctuating equity utilization with notable peaks and subsequent decreases.
Net Fixed Asset Turnover
Monsanto Co., net fixed asset turnover calculation (quarterly data)
| Feb 28, 2018 | Nov 30, 2017 | Aug 31, 2017 | May 31, 2017 | Feb 28, 2017 | Nov 30, 2016 | Aug 31, 2016 | May 31, 2016 | Feb 29, 2016 | Nov 30, 2015 | Aug 31, 2015 | May 31, 2015 | Feb 28, 2015 | Nov 30, 2014 | Aug 31, 2014 | May 31, 2014 | Feb 28, 2014 | Nov 30, 2013 | Aug 31, 2013 | May 31, 2013 | Feb 28, 2013 | Nov 30, 2012 | Aug 31, 2012 | May 31, 2012 | Feb 29, 2012 | Nov 30, 2011 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | ||||||||||||||||||||||||||||||||||
| lululemon athletica inc. | ||||||||||||||||||||||||||||||||||
| Nike Inc. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30), 10-K (reporting date: 2013-08-31), 10-Q (reporting date: 2013-05-31), 10-Q (reporting date: 2013-02-28), 10-Q (reporting date: 2012-11-30), 10-K (reporting date: 2012-08-31), 10-Q (reporting date: 2012-05-31), 10-Q (reporting date: 2012-02-29), 10-Q (reporting date: 2011-11-30).
1 Q2 2018 Calculation
Net fixed asset turnover
= (Net salesQ2 2018
+ Net salesQ1 2018
+ Net salesQ4 2017
+ Net salesQ3 2017)
÷ Property, plant and equipment, net
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data reveals several noteworthy trends in sales performance, asset management, and efficiency ratios over the examined periods.
- Net Sales
- The net sales figures exhibit considerable variability over the course of the periods. Sales peaked significantly in the February quarter of each year, reaching the highest values in February 2014 (US$ 5,832 million) and February 2013 (US$ 5,472 million). There is a clear seasonal pattern, with higher sales typically recorded in the late winter to early spring quarters (February and May), followed by a decline in the mid-year and fall quarters. Despite fluctuations, the overall sales volumes show no consistent upward or downward long-term trajectory, suggesting sales have remained relatively stable when adjusted for seasonal variation.
- Property, Plant, and Equipment, Net
- Net property, plant, and equipment values display a steady increasing trend throughout the periods analyzed. Beginning at US$ 4,230 million in November 2011, the net fixed assets rose gradually, reaching approximately US$ 6,109 million in August 2016 and further increasing to US$ 5,959 million in February 2018. This steady capital base expansion indicates ongoing investment in tangible assets or limited disposals, reflecting a potential strategy for long-term capacity growth or modernization of fixed assets.
- Net Fixed Asset Turnover
- The net fixed asset turnover ratio, which measures the efficiency of asset use to generate sales, shows a declining trend over time. Initial ratios around 3.09 to 3.35 in 2012 decline progressively to levels near 2.39 to 2.46 by February 2018. This decline indicates that despite incremental growth in asset base, the company’s sales generation per unit of net fixed asset has diminished. The reduction in turnover ratio may suggest decreasing operational efficiency, over-investment in assets relative to sales, or challenges in driving sales growth proportional to asset growth.
In summary, the data indicates stable but seasonally variable sales, a consistent increase in property, plant, and equipment, and a concurrent decline in efficiency of asset utilization as measured by the net fixed asset turnover ratio. This suggests emphasis on fixed asset expansion while grappling with challenges in maintaining or increasing asset productivity in sales generation.
Total Asset Turnover
Monsanto Co., total asset turnover calculation (quarterly data)
| Feb 28, 2018 | Nov 30, 2017 | Aug 31, 2017 | May 31, 2017 | Feb 28, 2017 | Nov 30, 2016 | Aug 31, 2016 | May 31, 2016 | Feb 29, 2016 | Nov 30, 2015 | Aug 31, 2015 | May 31, 2015 | Feb 28, 2015 | Nov 30, 2014 | Aug 31, 2014 | May 31, 2014 | Feb 28, 2014 | Nov 30, 2013 | Aug 31, 2013 | May 31, 2013 | Feb 28, 2013 | Nov 30, 2012 | Aug 31, 2012 | May 31, 2012 | Feb 29, 2012 | Nov 30, 2011 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||||||||
| Total assets | ||||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||||||
| Total asset turnover1 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Total Asset Turnover, Competitors2 | ||||||||||||||||||||||||||||||||||
| lululemon athletica inc. | ||||||||||||||||||||||||||||||||||
| Nike Inc. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30), 10-K (reporting date: 2013-08-31), 10-Q (reporting date: 2013-05-31), 10-Q (reporting date: 2013-02-28), 10-Q (reporting date: 2012-11-30), 10-K (reporting date: 2012-08-31), 10-Q (reporting date: 2012-05-31), 10-Q (reporting date: 2012-02-29), 10-Q (reporting date: 2011-11-30).
1 Q2 2018 Calculation
Total asset turnover
= (Net salesQ2 2018
+ Net salesQ1 2018
+ Net salesQ4 2017
+ Net salesQ3 2017)
÷ Total assets
= ( + + + )
÷ =
2 Click competitor name to see calculations.
The quarterly financial data reveals several noteworthy patterns in sales, assets, and efficiency metrics over the observed periods.
- Net Sales
- Net sales exhibit a marked seasonality and cyclical fluctuations. Periods ending in February and November generally show higher sales figures, often exceeding 5000 million US dollars, while the quarters ending in August and sometimes May tend to report lower sales, frequently dropping below 3000 million US dollars. Over the entire timeline, there is no clear consistent upward or downward trend; rather, sales oscillate within a broad range, reflecting seasonality and possibly market or operational factors affecting quarterly performance.
- Total Assets
- Total assets demonstrate moderate variability without a strong directional trend. The asset base fluctuates between approximately 19,400 million and 24,000 million US dollars. Peaks often align with the quarters ending in November and February, which could correspond to acquisition cycles, asset revaluation, or capital expenditure timing. There are episodes of decrease followed by recovery, indicating some degree of asset turnover or restructuring activity, but no persistent long-term growth or contraction is evident.
- Total Asset Turnover Ratio
- This efficiency ratio, measuring sales generated per unit of assets, remains relatively stable over time but with slight oscillations between approximately 0.62 and 0.72. The pattern suggests consistent operational efficiency with minor fluctuations, potentially influenced by seasonal sales patterns and asset base changes. No significant trend indicating improving or weakening asset utilization emerges, as the ratio largely hovers around the mid-0.6 range, reflecting steady proportionality between assets and sales.
In summary, the data portrays a company experiencing typical seasonal performance dynamics in sales with a relatively stable asset base and steady efficiency in asset utilization. There is no indication of extraordinary volatility or structural shifts either in revenue generation or asset management capacity throughout the observed periods.
Equity Turnover
Monsanto Co., equity turnover calculation (quarterly data)
| Feb 28, 2018 | Nov 30, 2017 | Aug 31, 2017 | May 31, 2017 | Feb 28, 2017 | Nov 30, 2016 | Aug 31, 2016 | May 31, 2016 | Feb 29, 2016 | Nov 30, 2015 | Aug 31, 2015 | May 31, 2015 | Feb 28, 2015 | Nov 30, 2014 | Aug 31, 2014 | May 31, 2014 | Feb 28, 2014 | Nov 30, 2013 | Aug 31, 2013 | May 31, 2013 | Feb 28, 2013 | Nov 30, 2012 | Aug 31, 2012 | May 31, 2012 | Feb 29, 2012 | Nov 30, 2011 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||||||
| Net sales | ||||||||||||||||||||||||||||||||||
| Total Monsanto Company shareowners’ equity | ||||||||||||||||||||||||||||||||||
| Long-term Activity Ratio | ||||||||||||||||||||||||||||||||||
| Equity turnover1 | ||||||||||||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| Equity Turnover, Competitors2 | ||||||||||||||||||||||||||||||||||
| lululemon athletica inc. | ||||||||||||||||||||||||||||||||||
| Nike Inc. | ||||||||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30), 10-K (reporting date: 2013-08-31), 10-Q (reporting date: 2013-05-31), 10-Q (reporting date: 2013-02-28), 10-Q (reporting date: 2012-11-30), 10-K (reporting date: 2012-08-31), 10-Q (reporting date: 2012-05-31), 10-Q (reporting date: 2012-02-29), 10-Q (reporting date: 2011-11-30).
1 Q2 2018 Calculation
Equity turnover
= (Net salesQ2 2018
+ Net salesQ1 2018
+ Net salesQ4 2017
+ Net salesQ3 2017)
÷ Total Monsanto Company shareowners’ equity
= ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net sales
- Net sales exhibit a pattern of fluctuations over the observed periods, showing alternating increases and decreases quarter over quarter. Initial values start around 2,439 million US dollars and rise to a peak of 5,832 million US dollars by February 2014. Following this peak, net sales fluctuate between approximately 2,200 million and 5,200 million US dollars with no clear linear trend. The most recent figures towards the end of the data show sales stabilizing around the 5,000 million mark but with slight downward variation, indicating volatility in sales volume or revenue generation over the timeframe.
- Total Monsanto Company shareowners’ equity
- Shareowners' equity generally demonstrates variability across the periods evaluated. Initially, equity increases from about 11,041 million US dollars to a peak near 14,662 million US dollars in mid-2014, suggesting growth and possible retained earnings or capital injections during this period. However, after this peak, there is a steep decline, with equity dropping to roughly 3,559 million US dollars by early 2016. Subsequent periods show a gradual recovery with equity climbing back up to around 7,754 million US dollars by early 2018. This fluctuating pattern may indicate periods of significant asset write-downs, dividend payments, share repurchases, or other equity-affecting transactions.
- Equity turnover
- Equity turnover ratios show a trend of increasing activity over the dataset duration, though the ratio data starts later in the timeline and contains some missing early values. Initially, ratios hover around 1.0 to 1.2, reflecting moderate use of equity to generate sales. Post-2014 values show a marked increase, peaking at around 4.03 before gradually decreasing to approximately 1.88 by the latest periods. Such high turnover implies more efficient use of equity or possibly reduced equity balances relative to sales. The spike and subsequent moderation could reflect shifts in capital structure, operational efficiency, or sales volume relative to shareholders' equity.
- Overall observations
- The data reveals a company experiencing significant fluctuations in key financial metrics over the reported periods. Net sales do not exhibit consistent growth but oscillate within a range, while shareholder equity shows a significant, temporary decline followed by recovery, potentially indicating restructuring or financial strategy shifts. The increase and then moderated decline in equity turnover suggests periods of both high operational leverage and a return to more normalized capital usage rates. Together, these trends point to dynamic financial management and possibly broader market or operational challenges impacting the company's financial position.