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)
Norfolk Southern Corp., short-term (operating) activity ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Norfolk Southern Corp. inventory turnover ratio improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022 not reaching Q3 2021 level. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Norfolk Southern Corp. receivables turnover ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Norfolk Southern Corp. payables turnover ratio decreased from Q3 2021 to Q4 2021 but then increased from Q4 2021 to Q1 2022 exceeding Q3 2021 level. |
| 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. | Norfolk Southern Corp. operating cycle improved from Q3 2021 to Q4 2021 but then deteriorated significantly from Q4 2021 to Q1 2022. |
| 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. | Norfolk Southern Corp. number of days of payables outstanding increased from Q3 2021 to Q4 2021 but then decreased significantly from Q4 2021 to Q1 2022. |
| 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. | Norfolk Southern Corp. cash conversion cycle improved from Q3 2021 to Q4 2021 but then deteriorated significantly from Q4 2021 to Q1 2022. |
Inventory Turnover
Norfolk Southern Corp., inventory turnover calculation (quarterly data)
| 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 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Cost of railway operating revenues | 738) | 698) | 640) | 617) | 570) | 562) | 612) | 456) | 592) | 683) | 649) | 672) | 674) | 724) | 724) | 702) | 667) | 507) | 575) | 582) | 590) | |||||||
| Materials and supplies | 264) | 218) | 235) | 246) | 241) | 221) | 247) | 257) | 265) | 244) | 266) | 256) | 228) | 207) | 267) | 260) | 245) | 222) | 245) | 289) | 281) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Inventory turnover1 | 10.20 | 11.58 | 10.17 | 9.60 | 9.13 | 10.05 | 9.49 | 9.26 | 9.80 | 10.98 | 10.22 | 10.91 | 12.39 | 13.61 | 9.74 | 9.43 | 9.51 | 10.15 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 150.16 | 143.03 | 135.08 | 127.31 | 120.56 | 121.01 | 122.65 | 120.12 | 121.41 | 126.03 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 31.22 | 35.11 | 31.95 | 29.89 | 29.29 | 30.62 | 30.21 | 30.24 | 31.15 | 28.91 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Inventory turnover
= (Cost of railway operating revenuesQ1 2022
+ Cost of railway operating revenuesQ4 2021
+ Cost of railway operating revenuesQ3 2021
+ Cost of railway operating revenuesQ2 2021)
÷ Materials and supplies
= (738 + 698 + 640 + 617)
÷ 264 = 10.20
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. | Norfolk Southern Corp. inventory turnover ratio improved from Q3 2021 to Q4 2021 but then slightly deteriorated from Q4 2021 to Q1 2022 not reaching Q3 2021 level. |
Receivables Turnover
Norfolk Southern Corp., receivables turnover calculation (quarterly data)
| 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 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Railway operating revenues | 2,915) | 2,852) | 2,852) | 2,799) | 2,639) | 2,573) | 2,506) | 2,085) | 2,625) | 2,690) | 2,841) | 2,925) | 2,840) | 2,896) | 2,947) | 2,898) | 2,717) | 2,669) | 2,670) | 2,637) | 2,575) | |||||||
| Accounts receivable, net | 1,070) | 976) | 945) | 941) | 944) | 848) | 883) | 822) | 889) | 920) | 973) | 1,039) | 1,048) | 1,009) | 1,043) | 1,035) | 973) | 955) | 973) | 926) | 998) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Receivables turnover1 | 10.67 | 11.42 | 11.50 | 11.18 | 10.38 | 11.54 | 11.22 | 12.46 | 12.46 | 12.28 | 11.82 | 11.17 | 11.05 | 11.36 | 10.77 | 10.58 | 10.99 | 11.05 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 7.79 | 6.96 | 6.86 | 6.55 | 6.80 | 6.85 | 7.47 | 7.13 | 7.48 | 7.65 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 8.65 | 7.16 | 11.13 | 10.67 | 10.04 | 10.38 | 15.58 | 21.59 | 20.93 | 11.65 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 11.57 | 12.66 | 12.63 | 12.34 | 11.99 | 12.98 | 12.53 | 14.55 | 12.91 | 13.61 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 8.82 | 7.76 | 9.01 | 9.12 | 8.84 | 7.87 | 8.93 | 8.38 | 9.23 | 7.76 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Receivables turnover
= (Railway operating revenuesQ1 2022
+ Railway operating revenuesQ4 2021
+ Railway operating revenuesQ3 2021
+ Railway operating revenuesQ2 2021)
÷ Accounts receivable, net
= (2,915 + 2,852 + 2,852 + 2,799)
÷ 1,070 = 10.67
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. | Norfolk Southern Corp. receivables turnover ratio deteriorated from Q3 2021 to Q4 2021 and from Q4 2021 to Q1 2022. |
Payables Turnover
Norfolk Southern Corp., payables turnover calculation (quarterly data)
| 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 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Cost of railway operating revenues | 738) | 698) | 640) | 617) | 570) | 562) | 612) | 456) | 592) | 683) | 649) | 672) | 674) | 724) | 724) | 702) | 667) | 507) | 575) | 582) | 590) | |||||||
| Accounts payable | 1,181) | 1,351) | 1,196) | 1,116) | 1,043) | 1,016) | 1,273) | 1,268) | 1,284) | 1,428) | 1,407) | 1,407) | 1,334) | 1,505) | 1,394) | 1,323) | 1,217) | 1,401) | 1,287) | 1,223) | 1,211) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Payables turnover1 | 2.28 | 1.87 | 2.00 | 2.12 | 2.11 | 2.19 | 1.84 | 1.88 | 2.02 | 1.88 | 1.93 | 1.99 | 2.12 | 1.87 | 1.87 | 1.85 | 1.92 | 1.61 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 22.67 | 21.86 | 19.74 | 20.02 | 21.41 | 21.17 | 21.82 | 21.07 | 21.92 | 23.00 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 13.53 | 10.87 | 24.80 | 15.26 | 23.16 | 21.93 | 23.50 | 24.51 | 32.64 | 26.50 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 14.04 | 12.93 | 14.65 | 14.09 | 14.20 | 13.11 | 14.32 | 14.68 | 15.69 | 13.34 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Payables turnover
= (Cost of railway operating revenuesQ1 2022
+ Cost of railway operating revenuesQ4 2021
+ Cost of railway operating revenuesQ3 2021
+ Cost of railway operating revenuesQ2 2021)
÷ Accounts payable
= (738 + 698 + 640 + 617)
÷ 1,181 = 2.28
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. | Norfolk Southern Corp. payables turnover ratio decreased from Q3 2021 to Q4 2021 but then increased from Q4 2021 to Q1 2022 exceeding Q3 2021 level. |
Working Capital Turnover
Norfolk Southern Corp., working capital turnover calculation (quarterly data)
| 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 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Current assets | 3,015) | 2,167) | 2,722) | 3,012) | 2,303) | 2,318) | 2,579) | 2,350) | 2,002) | 2,081) | 2,016) | 1,914) | 1,922) | 1,862) | 2,109) | 1,904) | 2,479) | 2,149) | 1,999) | 1,936) | 2,327) | |||||||
| Less: Current liabilities | 3,147) | 2,521) | 2,410) | 2,796) | 2,249) | 2,160) | 2,005) | 1,935) | 2,236) | 2,300) | 2,761) | 2,451) | 2,885) | 2,591) | 2,441) | 2,352) | 2,388) | 2,545) | 2,413) | 2,343) | 2,443) | |||||||
| Working capital | (132) | (354) | 312) | 216) | 54) | 158) | 574) | 415) | (234) | (219) | (745) | (537) | (963) | (729) | (332) | (448) | 91) | (396) | (414) | (407) | (116) | |||||||
| Railway operating revenues | 2,915) | 2,852) | 2,852) | 2,799) | 2,639) | 2,573) | 2,506) | 2,085) | 2,625) | 2,690) | 2,841) | 2,925) | 2,840) | 2,896) | 2,947) | 2,898) | 2,717) | 2,669) | 2,670) | 2,637) | 2,575) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Working capital turnover1 | — | — | 34.82 | 48.69 | 181.54 | 61.96 | 17.26 | 24.68 | — | — | — | — | — | — | — | — | 117.51 | — | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 13.06 | 12.13 | 9.67 | 8.17 | 9.27 | 11.46 | 31.44 | 26.10 | 22.61 | 17.11 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 1,646.62 | — | 9.53 | 129.39 | 10.72 | 3.69 | 4.83 | 3.46 | 3.19 | 1.71 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | — | — | — | — | — | 476.41 | 67.83 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 11.27 | 13.21 | 12.81 | 14.87 | 19.13 | 26.45 | 17.95 | 19.57 | 21.16 | 43.84 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Working capital turnover
= (Railway operating revenuesQ1 2022
+ Railway operating revenuesQ4 2021
+ Railway operating revenuesQ3 2021
+ Railway operating revenuesQ2 2021)
÷ Working capital
= (2,915 + 2,852 + 2,852 + 2,799)
÷ -132 = —
2 Click competitor name to see calculations.
Average Inventory Processing Period
Norfolk Southern Corp., average inventory processing period calculation (quarterly data)
| 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 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Inventory turnover | 10.20 | 11.58 | 10.17 | 9.60 | 9.13 | 10.05 | 9.49 | 9.26 | 9.80 | 10.98 | 10.22 | 10.91 | 12.39 | 13.61 | 9.74 | 9.43 | 9.51 | 10.15 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average inventory processing period1 | 36 | 32 | 36 | 38 | 40 | 36 | 38 | 39 | 37 | 33 | 36 | 33 | 29 | 27 | 37 | 39 | 38 | 36 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 12 | 10 | 11 | 12 | 12 | 12 | 12 | 12 | 12 | 13 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 10.20 = 36
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
Norfolk Southern Corp., average receivable collection period calculation (quarterly data)
| 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 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Receivables turnover | 10.67 | 11.42 | 11.50 | 11.18 | 10.38 | 11.54 | 11.22 | 12.46 | 12.46 | 12.28 | 11.82 | 11.17 | 11.05 | 11.36 | 10.77 | 10.58 | 10.99 | 11.05 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average receivable collection period1 | 34 | 32 | 32 | 33 | 35 | 32 | 33 | 29 | 29 | 30 | 31 | 33 | 33 | 32 | 34 | 34 | 33 | 33 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 47 | 52 | 53 | 56 | 54 | 53 | 49 | 51 | 49 | 48 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 42 | 51 | 33 | 34 | 36 | 35 | 23 | 17 | 17 | 31 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 32 | 29 | 29 | 30 | 30 | 28 | 29 | 25 | 28 | 27 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 41 | 47 | 40 | 40 | 41 | 46 | 41 | 44 | 40 | 47 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 10.67 = 34
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
Norfolk Southern Corp., operating cycle calculation (quarterly data)
No. days
| 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 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Average inventory processing period | 36 | 32 | 36 | 38 | 40 | 36 | 38 | 39 | 37 | 33 | 36 | 33 | 29 | 27 | 37 | 39 | 38 | 36 | — | — | — | |||||||
| Average receivable collection period | 34 | 32 | 32 | 33 | 35 | 32 | 33 | 29 | 29 | 30 | 31 | 33 | 33 | 32 | 34 | 34 | 33 | 33 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Operating cycle1 | 70 | 64 | 68 | 71 | 75 | 68 | 71 | 68 | 66 | 63 | 67 | 66 | 62 | 59 | 71 | 73 | 71 | 69 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 49 | 55 | 56 | 59 | 57 | 56 | 52 | 54 | 52 | 51 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Union Pacific Corp. | 44 | 39 | 40 | 42 | 42 | 40 | 41 | 37 | 40 | 40 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 36 + 34 = 70
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. | Norfolk Southern Corp. operating cycle improved from Q3 2021 to Q4 2021 but then deteriorated significantly from Q4 2021 to Q1 2022. |
Average Payables Payment Period
Norfolk Southern Corp., average payables payment period calculation (quarterly data)
| 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 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Payables turnover | 2.28 | 1.87 | 2.00 | 2.12 | 2.11 | 2.19 | 1.84 | 1.88 | 2.02 | 1.88 | 1.93 | 1.99 | 2.12 | 1.87 | 1.87 | 1.85 | 1.92 | 1.61 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average payables payment period1 | 160 | 195 | 183 | 173 | 173 | 167 | 198 | 194 | 181 | 195 | 189 | 184 | 172 | 195 | 196 | 197 | 191 | 227 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 16 | 17 | 18 | 18 | 17 | 17 | 17 | 17 | 17 | 16 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Uber Technologies Inc. | 27 | 34 | 15 | 24 | 16 | 17 | 16 | 15 | 11 | 14 | — | — | — | — | — | — | — | — | — | — | — | |||||||
| United Parcel Service Inc. | 26 | 28 | 25 | 26 | 26 | 28 | 25 | 25 | 23 | 27 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 2.28 = 160
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. | Norfolk Southern Corp. number of days of payables outstanding increased from Q3 2021 to Q4 2021 but then decreased significantly from Q4 2021 to Q1 2022. |
Cash Conversion Cycle
Norfolk Southern Corp., cash conversion cycle calculation (quarterly data)
No. days
| 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 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Average inventory processing period | 36 | 32 | 36 | 38 | 40 | 36 | 38 | 39 | 37 | 33 | 36 | 33 | 29 | 27 | 37 | 39 | 38 | 36 | — | — | — | |||||||
| Average receivable collection period | 34 | 32 | 32 | 33 | 35 | 32 | 33 | 29 | 29 | 30 | 31 | 33 | 33 | 32 | 34 | 34 | 33 | 33 | — | — | — | |||||||
| Average payables payment period | 160 | 195 | 183 | 173 | 173 | 167 | 198 | 194 | 181 | 195 | 189 | 184 | 172 | 195 | 196 | 197 | 191 | 227 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Cash conversion cycle1 | -90 | -131 | -115 | -102 | -98 | -99 | -127 | -126 | -115 | -132 | -122 | -118 | -110 | -136 | -125 | -124 | -120 | -158 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||||
| FedEx Corp. | 33 | 38 | 38 | 41 | 40 | 39 | 35 | 37 | 35 | 35 | — | — | — | — | — | — | — | — | — | — | — | |||||||
Based on: 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), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
1 Q1 2022 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 36 + 34 – 160 = -90
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. | Norfolk Southern Corp. cash conversion cycle improved from Q3 2021 to Q4 2021 but then deteriorated significantly from Q4 2021 to Q1 2022. |