Analysis of Short-term (Operating) Activity Ratios
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)
ONEOK Inc., short-term (operating) activity ratios
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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | ONEOK Inc. inventory turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | ONEOK Inc. receivables turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | ONEOK Inc. payables turnover ratio increased from 2020 to 2021 and from 2021 to 2022. |
| 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. | ONEOK Inc. number of days of inventory outstanding improved from 2020 to 2021 and from 2021 to 2022. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | ONEOK Inc. number of days of receivables outstanding improved from 2020 to 2021 and from 2021 to 2022. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | ONEOK Inc. operating cycle improved from 2020 to 2021 and from 2021 to 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. | ONEOK Inc. number of days of payables outstanding decreased from 2020 to 2021 and from 2021 to 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. |
Inventory Turnover
ONEOK Inc., inventory turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cost of sales and fuel | 17,909,866) | 12,256,655) | 5,110,146) | 6,788,040) | 9,422,708) | |
| Inventory | 580,725) | 580,899) | 370,988) | 506,675) | 437,841) | |
| Short-term Activity Ratio | ||||||
| Inventory turnover1 | 30.84 | 21.10 | 13.77 | 13.40 | 21.52 | |
| Benchmarks | ||||||
| Inventory Turnover, Competitors2 | ||||||
| Chevron Corp. | 28.58 | 24.68 | 16.64 | — | — | |
| ConocoPhillips | 64.39 | 37.94 | 18.75 | — | — | |
| Exxon Mobil Corp. | 16.32 | 14.73 | 9.47 | — | — | |
| Occidental Petroleum Corp. | 17.79 | 14.06 | 9.38 | — | — | |
| Inventory Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 20.84 | 17.91 | 11.29 | — | — | |
| Inventory Turnover, Industry | ||||||
| Energy | 19.33 | 16.66 | 10.74 | — | — | |
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
Inventory turnover = Cost of sales and fuel ÷ Inventory
= 17,909,866 ÷ 580,725 = 30.84
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. | ONEOK Inc. inventory turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Receivables Turnover
ONEOK Inc., receivables turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Revenues | 22,386,892) | 16,540,309) | 8,542,242) | 10,164,367) | 12,593,196) | |
| Accounts receivable, net | 1,532,292) | 1,441,786) | 829,796) | 835,121) | 818,958) | |
| Short-term Activity Ratio | ||||||
| Receivables turnover1 | 14.61 | 11.47 | 10.29 | 12.17 | 15.38 | |
| Benchmarks | ||||||
| Receivables Turnover, Competitors2 | ||||||
| Chevron Corp. | 11.52 | 8.45 | 8.24 | — | — | |
| ConocoPhillips | 11.09 | 7.00 | 7.13 | — | — | |
| Exxon Mobil Corp. | 12.14 | 10.29 | 10.93 | — | — | |
| Occidental Petroleum Corp. | 8.56 | 6.17 | 8.42 | — | — | |
| Receivables Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 11.59 | 8.99 | 9.51 | — | — | |
| Receivables Turnover, Industry | ||||||
| Energy | 10.85 | 8.59 | 8.81 | — | — | |
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
Receivables turnover = Revenues ÷ Accounts receivable, net
= 22,386,892 ÷ 1,532,292 = 14.61
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. | ONEOK Inc. receivables turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Payables Turnover
ONEOK Inc., payables turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cost of sales and fuel | 17,909,866) | 12,256,655) | 5,110,146) | 6,788,040) | 9,422,708) | |
| Accounts payable | 1,359,475) | 1,332,391) | 719,302) | 1,209,900) | 1,116,337) | |
| Short-term Activity Ratio | ||||||
| Payables turnover1 | 13.17 | 9.20 | 7.10 | 5.61 | 8.44 | |
| Benchmarks | ||||||
| Payables Turnover, Competitors2 | ||||||
| Chevron Corp. | 12.44 | 9.46 | 8.63 | — | — | |
| ConocoPhillips | 12.84 | 9.16 | 7.04 | — | — | |
| Exxon Mobil Corp. | 12.02 | 10.39 | 10.20 | — | — | |
| Occidental Petroleum Corp. | 9.09 | 6.66 | 5.96 | — | — | |
| Payables Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 12.04 | 9.70 | 9.08 | — | — | |
| Payables Turnover, Industry | ||||||
| Energy | 11.67 | 9.48 | 8.93 | — | — | |
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
Payables turnover = Cost of sales and fuel ÷ Accounts payable
= 17,909,866 ÷ 1,359,475 = 13.17
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. | ONEOK Inc. payables turnover ratio increased from 2020 to 2021 and from 2021 to 2022. |
Working Capital Turnover
ONEOK Inc., working capital turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current assets | 2,547,775) | 2,374,374) | 1,869,775) | 1,470,334) | 1,398,632) | |
| Less: Current liabilities | 3,051,627) | 3,184,619) | 1,344,547) | 2,020,298) | 2,108,436) | |
| Working capital | (503,852) | (810,245) | 525,228) | (549,964) | (709,804) | |
| Revenues | 22,386,892) | 16,540,309) | 8,542,242) | 10,164,367) | 12,593,196) | |
| Short-term Activity Ratio | ||||||
| Working capital turnover1 | — | — | 16.26 | — | — | |
| Benchmarks | ||||||
| Working Capital Turnover, Competitors2 | ||||||
| Chevron Corp. | 14.61 | 22.40 | 24.25 | — | — | |
| ConocoPhillips | 13.30 | 11.37 | 2.80 | — | — | |
| Exxon Mobil Corp. | 13.95 | 110.19 | — | — | — | |
| Occidental Petroleum Corp. | 32.45 | 13.76 | 29.88 | — | — | |
| Working Capital Turnover, Sector | ||||||
| Oil, Gas & Consumable Fuels | 14.48 | 32.79 | — | — | — | |
| Working Capital Turnover, Industry | ||||||
| Energy | 14.21 | 29.83 | 155.07 | — | — | |
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
Working capital turnover = Revenues ÷ Working capital
= 22,386,892 ÷ -503,852 = —
2 Click competitor name to see calculations.
Average Inventory Processing Period
ONEOK Inc., average inventory processing period calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Inventory turnover | 30.84 | 21.10 | 13.77 | 13.40 | 21.52 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average inventory processing period1 | 12 | 17 | 26 | 27 | 17 | |
| Benchmarks (no. days) | ||||||
| Average Inventory Processing Period, Competitors2 | ||||||
| Chevron Corp. | 13 | 15 | 22 | — | — | |
| ConocoPhillips | 6 | 10 | 19 | — | — | |
| Exxon Mobil Corp. | 22 | 25 | 39 | — | — | |
| Occidental Petroleum Corp. | 21 | 26 | 39 | — | — | |
| Average Inventory Processing Period, Sector | ||||||
| Oil, Gas & Consumable Fuels | 18 | 20 | 32 | — | — | |
| Average Inventory Processing Period, Industry | ||||||
| Energy | 19 | 22 | 34 | — | — | |
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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 30.84 = 12
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. | ONEOK Inc. number of days of inventory outstanding improved from 2020 to 2021 and from 2021 to 2022. |
Average Receivable Collection Period
ONEOK Inc., average receivable collection period calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Receivables turnover | 14.61 | 11.47 | 10.29 | 12.17 | 15.38 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average receivable collection period1 | 25 | 32 | 35 | 30 | 24 | |
| Benchmarks (no. days) | ||||||
| Average Receivable Collection Period, Competitors2 | ||||||
| Chevron Corp. | 32 | 43 | 44 | — | — | |
| ConocoPhillips | 33 | 52 | 51 | — | — | |
| Exxon Mobil Corp. | 30 | 35 | 33 | — | — | |
| Occidental Petroleum Corp. | 43 | 59 | 43 | — | — | |
| Average Receivable Collection Period, Sector | ||||||
| Oil, Gas & Consumable Fuels | 31 | 41 | 38 | — | — | |
| Average Receivable Collection Period, Industry | ||||||
| Energy | 34 | 43 | 41 | — | — | |
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 14.61 = 25
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. | ONEOK Inc. number of days of receivables outstanding improved from 2020 to 2021 and from 2021 to 2022. |
Operating Cycle
ONEOK Inc., operating cycle calculation, comparison to benchmarks
No. days
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Average inventory processing period | 12 | 17 | 26 | 27 | 17 | |
| Average receivable collection period | 25 | 32 | 35 | 30 | 24 | |
| Short-term Activity Ratio | ||||||
| Operating cycle1 | 37 | 49 | 61 | 57 | 41 | |
| Benchmarks | ||||||
| Operating Cycle, Competitors2 | ||||||
| Chevron Corp. | 45 | 58 | 66 | — | — | |
| ConocoPhillips | 39 | 62 | 70 | — | — | |
| Exxon Mobil Corp. | 52 | 60 | 72 | — | — | |
| Occidental Petroleum Corp. | 64 | 85 | 82 | — | — | |
| Operating Cycle, Sector | ||||||
| Oil, Gas & Consumable Fuels | 49 | 61 | 70 | — | — | |
| Operating Cycle, Industry | ||||||
| Energy | 53 | 65 | 75 | — | — | |
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
Operating cycle = Average inventory processing period + Average receivable collection period
= 12 + 25 = 37
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. | ONEOK Inc. operating cycle improved from 2020 to 2021 and from 2021 to 2022. |
Average Payables Payment Period
ONEOK Inc., average payables payment period calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Payables turnover | 13.17 | 9.20 | 7.10 | 5.61 | 8.44 | |
| Short-term Activity Ratio (no. days) | ||||||
| Average payables payment period1 | 28 | 40 | 51 | 65 | 43 | |
| Benchmarks (no. days) | ||||||
| Average Payables Payment Period, Competitors2 | ||||||
| Chevron Corp. | 29 | 39 | 42 | — | — | |
| ConocoPhillips | 28 | 40 | 52 | — | — | |
| Exxon Mobil Corp. | 30 | 35 | 36 | — | — | |
| Occidental Petroleum Corp. | 40 | 55 | 61 | — | — | |
| Average Payables Payment Period, Sector | ||||||
| Oil, Gas & Consumable Fuels | 30 | 38 | 40 | — | — | |
| Average Payables Payment Period, Industry | ||||||
| Energy | 31 | 38 | 41 | — | — | |
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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 13.17 = 28
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. | ONEOK Inc. number of days of payables outstanding decreased from 2020 to 2021 and from 2021 to 2022. |
Cash Conversion Cycle
ONEOK Inc., cash conversion cycle calculation, comparison to benchmarks
No. days
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||
| Average inventory processing period | 12 | 17 | 26 | 27 | 17 | |
| Average receivable collection period | 25 | 32 | 35 | 30 | 24 | |
| Average payables payment period | 28 | 40 | 51 | 65 | 43 | |
| Short-term Activity Ratio | ||||||
| Cash conversion cycle1 | 9 | 9 | 10 | -8 | -2 | |
| Benchmarks | ||||||
| Cash Conversion Cycle, Competitors2 | ||||||
| Chevron Corp. | 16 | 19 | 24 | — | — | |
| ConocoPhillips | 11 | 22 | 18 | — | — | |
| Exxon Mobil Corp. | 22 | 25 | 36 | — | — | |
| Occidental Petroleum Corp. | 24 | 30 | 21 | — | — | |
| Cash Conversion Cycle, Sector | ||||||
| Oil, Gas & Consumable Fuels | 19 | 23 | 30 | — | — | |
| Cash Conversion Cycle, Industry | ||||||
| Energy | 22 | 27 | 34 | — | — | |
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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 12 + 25 – 28 = 9
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. |