Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
Long-term activity ratio | Description | The company |
---|---|---|
Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Northrop Grumman Corp. net fixed asset turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Northrop Grumman Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2020 to 2021 and from 2021 to 2022. |
Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Northrop Grumman Corp. total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Northrop Grumman Corp. equity turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Net Fixed Asset Turnover
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Sales | 36,602) | 35,667) | 36,799) | 33,841) | 30,095) | |
Property, plant and equipment, net of accumulated depreciation | 8,800) | 7,894) | 7,071) | 6,912) | 6,372) | |
Long-term Activity Ratio | ||||||
Net fixed asset turnover1 | 4.16 | 4.52 | 5.20 | 4.90 | 4.72 | |
Benchmarks | ||||||
Net Fixed Asset Turnover, Competitors2 | ||||||
Boeing Co. | 6.31 | 5.70 | 4.92 | 6.12 | — | |
Caterpillar Inc. | 4.70 | 3.99 | 3.15 | 3.93 | — | |
Eaton Corp. plc | 6.59 | 6.41 | 6.02 | 6.12 | — | |
GE Aerospace | 5.96 | 5.47 | 1.75 | 2.02 | — | |
Honeywell International Inc. | 6.48 | 6.18 | 5.86 | 6.89 | — | |
Lockheed Martin Corp. | 8.27 | 8.83 | 9.07 | 9.07 | — | |
RTX Corp. | 4.42 | 4.30 | 3.78 | 6.04 | — | |
Net Fixed Asset Turnover, Sector | ||||||
Capital Goods | 5.79 | 5.46 | 3.55 | 4.23 | — | |
Net Fixed Asset Turnover, Industry | ||||||
Industrials | 3.22 | 3.04 | 2.41 | 2.76 | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Net fixed asset turnover = Sales ÷ Property, plant and equipment, net of accumulated depreciation
= 36,602 ÷ 8,800 = 4.16
2 Click competitor name to see calculations.
Long-term activity ratio | Description | The company |
---|---|---|
Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Northrop Grumman Corp. net fixed asset turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Northrop Grumman Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Sales | 36,602) | 35,667) | 36,799) | 33,841) | 30,095) | |
Property, plant and equipment, net of accumulated depreciation | 8,800) | 7,894) | 7,071) | 6,912) | 6,372) | |
Operating lease right-of-use assets | 1,811) | 1,655) | 1,533) | 1,511) | —) | |
Property, plant and equipment, net of accumulated depreciation (including operating lease, right-of-use asset) | 10,611) | 9,549) | 8,604) | 8,423) | 6,372) | |
Long-term Activity Ratio | ||||||
Net fixed asset turnover (including operating lease, right-of-use asset)1 | 3.45 | 3.74 | 4.28 | 4.02 | 4.72 | |
Benchmarks | ||||||
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
Boeing Co. | 5.55 | 5.04 | 4.45 | 5.59 | — | |
Caterpillar Inc. | 4.49 | 3.79 | 3.00 | 3.75 | — | |
Eaton Corp. plc | 5.58 | 5.60 | 5.26 | 5.44 | — | |
GE Aerospace | 5.08 | 4.55 | 1.63 | 1.89 | — | |
Honeywell International Inc. | 5.58 | 5.28 | 5.15 | 6.12 | — | |
Lockheed Martin Corp. | 7.27 | 7.54 | 7.96 | 7.88 | — | |
RTX Corp. | 3.95 | 3.80 | 3.36 | 5.02 | — | |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
Capital Goods | 5.13 | 4.80 | 3.25 | 3.86 | — | |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
Industrials | 2.77 | 2.62 | 2.13 | 2.57 | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Sales ÷ Property, plant and equipment, net of accumulated depreciation (including operating lease, right-of-use asset)
= 36,602 ÷ 10,611 = 3.45
2 Click competitor name to see calculations.
Long-term activity ratio | Description | The company |
---|---|---|
Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Northrop Grumman Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2020 to 2021 and from 2021 to 2022. |
Total Asset Turnover
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Sales | 36,602) | 35,667) | 36,799) | 33,841) | 30,095) | |
Total assets | 43,755) | 42,579) | 44,469) | 41,089) | 37,653) | |
Long-term Activity Ratio | ||||||
Total asset turnover1 | 0.84 | 0.84 | 0.83 | 0.82 | 0.80 | |
Benchmarks | ||||||
Total Asset Turnover, Competitors2 | ||||||
Boeing Co. | 0.49 | 0.45 | 0.38 | 0.57 | — | |
Caterpillar Inc. | 0.69 | 0.58 | 0.50 | 0.65 | — | |
Eaton Corp. plc | 0.59 | 0.58 | 0.56 | 0.65 | — | |
GE Aerospace | 0.39 | 0.36 | 0.29 | 0.33 | — | |
Honeywell International Inc. | 0.57 | 0.53 | 0.51 | 0.63 | — | |
Lockheed Martin Corp. | 1.25 | 1.32 | 1.29 | 1.26 | — | |
RTX Corp. | 0.42 | 0.40 | 0.35 | 0.55 | — | |
Total Asset Turnover, Sector | ||||||
Capital Goods | 0.54 | 0.50 | 0.43 | 0.54 | — | |
Total Asset Turnover, Industry | ||||||
Industrials | 0.66 | 0.60 | 0.51 | 0.61 | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Total asset turnover = Sales ÷ Total assets
= 36,602 ÷ 43,755 = 0.84
2 Click competitor name to see calculations.
Long-term activity ratio | Description | The company |
---|---|---|
Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Northrop Grumman Corp. total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Equity Turnover
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | ||||||
Sales | 36,602) | 35,667) | 36,799) | 33,841) | 30,095) | |
Shareholders’ equity | 15,312) | 12,926) | 10,579) | 8,819) | 8,187) | |
Long-term Activity Ratio | ||||||
Equity turnover1 | 2.39 | 2.76 | 3.48 | 3.84 | 3.68 | |
Benchmarks | ||||||
Equity Turnover, Competitors2 | ||||||
Boeing Co. | — | — | — | — | — | |
Caterpillar Inc. | 3.57 | 2.92 | 2.55 | 3.48 | — | |
Eaton Corp. plc | 1.22 | 1.20 | 1.20 | 1.33 | — | |
GE Aerospace | 2.02 | 1.76 | 2.05 | 3.09 | — | |
Honeywell International Inc. | 2.12 | 1.85 | 1.86 | 1.98 | — | |
Lockheed Martin Corp. | 7.12 | 6.12 | 10.87 | 19.13 | — | |
RTX Corp. | 0.92 | 0.88 | 0.78 | 1.84 | — | |
Equity Turnover, Sector | ||||||
Capital Goods | 2.54 | 2.28 | 2.39 | 3.60 | — | |
Equity Turnover, Industry | ||||||
Industrials | 2.94 | 2.58 | 2.75 | 3.53 | — |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 2022 Calculation
Equity turnover = Sales ÷ Shareholders’ equity
= 36,602 ÷ 15,312 = 2.39
2 Click competitor name to see calculations.
Long-term activity ratio | Description | The company |
---|---|---|
Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Northrop Grumman Corp. equity turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |