Analysis of Long-term (Investment) Activity Ratios
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)
Philip Morris International Inc., long-term (investment) activity ratios
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Philip Morris International Inc. net fixed asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
| 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). | Philip Morris International Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Philip Morris International Inc. total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Net Fixed Asset Turnover
Philip Morris International Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 37,878) | 35,174) | 31,762) | 31,405) | 28,694) | |
| Property, plant and equipment, less accumulated depreciation | 7,310) | 7,516) | 6,710) | 6,168) | 6,365) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 5.18 | 4.68 | 4.73 | 5.09 | 4.51 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Coca-Cola Co. | — | 4.95 | 4.37 | 3.90 | 3.06 | |
| Mondelēz International Inc. | 3.84 | 3.72 | 3.49 | 3.32 | 2.94 | |
| PepsiCo Inc. | 3.28 | 3.38 | 3.56 | 3.55 | 3.29 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | — | 3.90 | 3.86 | 3.78 | 3.34 | |
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Staples | — | 5.16 | 5.21 | 5.06 | 4.37 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Net fixed asset turnover = Net revenues ÷ Property, plant and equipment, less accumulated depreciation
= 37,878 ÷ 7,310 = 5.18
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. | Philip Morris International Inc. net fixed asset turnover ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Philip Morris International Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 37,878) | 35,174) | 31,762) | 31,405) | 28,694) | |
| Property, plant and equipment, less accumulated depreciation | 7,310) | 7,516) | 6,710) | 6,168) | 6,365) | |
| Operating lease right-of-use asset (included in Other assets) | 585) | 631) | 594) | 526) | 697) | |
| Property, plant and equipment, less accumulated depreciation (including operating lease, right-of-use asset) | 7,895) | 8,147) | 7,304) | 6,694) | 7,062) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 4.80 | 4.32 | 4.35 | 4.69 | 4.06 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Coca-Cola Co. | — | 4.33 | 3.82 | 3.41 | 2.68 | |
| Mondelēz International Inc. | 3.56 | 3.47 | 3.25 | 3.10 | 2.75 | |
| PepsiCo Inc. | 2.93 | 3.05 | 3.24 | 3.25 | 3.05 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Food, Beverage & Tobacco | — | 3.53 | 3.51 | 3.45 | 3.05 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Consumer Staples | — | 4.67 | 4.69 | 4.55 | 3.89 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net revenues ÷ Property, plant and equipment, less accumulated depreciation (including operating lease, right-of-use asset)
= 37,878 ÷ 7,895 = 4.80
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). | Philip Morris International Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Total Asset Turnover
Philip Morris International Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 37,878) | 35,174) | 31,762) | 31,405) | 28,694) | |
| Total assets | 61,784) | 65,304) | 61,681) | 41,290) | 44,815) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.61 | 0.54 | 0.51 | 0.76 | 0.64 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Coca-Cola Co. | — | 0.47 | 0.46 | 0.41 | 0.38 | |
| Mondelēz International Inc. | 0.53 | 0.50 | 0.44 | 0.43 | 0.39 | |
| PepsiCo Inc. | 0.92 | 0.91 | 0.94 | 0.86 | 0.76 | |
| Total Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | — | 0.62 | 0.61 | 0.60 | 0.54 | |
| Total Asset Turnover, Industry | ||||||
| Consumer Staples | — | 1.51 | 1.46 | 1.41 | 1.32 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Total asset turnover = Net revenues ÷ Total assets
= 37,878 ÷ 61,784 = 0.61
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. | Philip Morris International Inc. total asset turnover ratio improved from 2022 to 2023 and from 2023 to 2024. |
Equity Turnover
Philip Morris International Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 37,878) | 35,174) | 31,762) | 31,405) | 28,694) | |
| Total PMI stockholders’ deficit | (11,750) | (11,225) | (8,957) | (10,106) | (12,567) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | — | — | — | — | — | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Coca-Cola Co. | — | 1.76 | 1.78 | 1.68 | 1.71 | |
| Mondelēz International Inc. | 1.35 | 1.27 | 1.17 | 1.02 | 0.96 | |
| PepsiCo Inc. | 5.09 | 4.94 | 5.04 | 4.95 | 5.23 | |
| Equity Turnover, Sector | ||||||
| Food, Beverage & Tobacco | — | 3.39 | 3.26 | 3.12 | 3.32 | |
| Equity Turnover, Industry | ||||||
| Consumer Staples | — | 5.61 | 5.25 | 5.05 | 4.97 | |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Equity turnover = Net revenues ÷ Total PMI stockholders’ deficit
= 37,878 ÷ -11,750 = —
2 Click competitor name to see calculations.