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)
United States Steel Corp., long-term (investment) 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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | United States Steel Corp. net fixed asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated 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). | United States Steel Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | United States Steel 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. | United States Steel Corp. equity turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |
Net Fixed Asset Turnover
United States Steel Corp., net fixed asset 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 millions) | ||||||
| Net sales | 21,065) | 20,275) | 9,741) | 12,937) | 14,178) | |
| Property, plant and equipment, net | 8,492) | 7,254) | 5,444) | 5,447) | 4,865) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 2.48 | 2.80 | 1.79 | 2.38 | 2.91 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Freeport-McMoRan Inc. | 0.71 | 0.76 | 0.48 | — | — | |
| Net Fixed Asset Turnover, Industry | ||||||
| Materials | 1.35 | 1.27 | 0.99 | — | — | |
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 = Net sales ÷ Property, plant and equipment, net
= 21,065 ÷ 8,492 = 2.48
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. | United States Steel Corp. net fixed asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
United States Steel 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) | ||||||
| Net sales | 21,065) | 20,275) | 9,741) | 12,937) | 14,178) | |
| Property, plant and equipment, net | 8,492) | 7,254) | 5,444) | 5,447) | 4,865) | |
| Operating lease assets | 146) | 185) | 214) | 230) | —) | |
| Property, plant and equipment, net (including operating lease, right-of-use asset) | 8,638) | 7,439) | 5,658) | 5,677) | 4,865) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 2.44 | 2.73 | 1.72 | 2.28 | 2.91 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Freeport-McMoRan Inc. | 0.70 | 0.75 | 0.48 | — | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Materials | 1.28 | 1.21 | 0.95 | — | — | |
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) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 21,065 ÷ 8,638 = 2.44
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). | United States Steel Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Total Asset Turnover
United States Steel Corp., total asset 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 millions) | ||||||
| Net sales | 21,065) | 20,275) | 9,741) | 12,937) | 14,178) | |
| Total assets | 19,458) | 17,816) | 12,059) | 11,608) | 10,982) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 1.08 | 1.14 | 0.81 | 1.11 | 1.29 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Freeport-McMoRan Inc. | 0.45 | 0.48 | 0.34 | — | — | |
| Total Asset Turnover, Industry | ||||||
| Materials | 0.51 | 0.49 | 0.40 | — | — | |
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 = Net sales ÷ Total assets
= 21,065 ÷ 19,458 = 1.08
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. | United States Steel Corp. total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022. |
Equity Turnover
United States Steel Corp., equity 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 millions) | ||||||
| Net sales | 21,065) | 20,275) | 9,741) | 12,937) | 14,178) | |
| Total United States Steel Corporation stockholders’ equity | 10,218) | 9,010) | 3,786) | 4,092) | 4,202) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 2.06 | 2.25 | 2.57 | 3.16 | 3.37 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Freeport-McMoRan Inc. | 1.46 | 1.63 | 1.40 | — | — | |
| Equity Turnover, Industry | ||||||
| Materials | 1.33 | 1.22 | 0.98 | — | — | |
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 = Net sales ÷ Total United States Steel Corporation stockholders’ equity
= 21,065 ÷ 10,218 = 2.06
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. | United States Steel Corp. equity turnover ratio deteriorated from 2020 to 2021 and from 2021 to 2022. |