Stock Analysis on Net

Waste Management Inc. (NYSE:WM)

This company has been moved to the archive! The financial data has not been updated since February 15, 2022.

Analysis of Short-term (Operating) Activity Ratios
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Waste Management Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
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
Turnover Ratios
Inventory turnover 82.30 80.73 80.02 76.82 75.33 78.25 78.51 82.13 89.58 87.72 91.28 89.17 90.68 88.67 90.62 92.23 93.97
Receivables turnover 7.87 7.46 7.52 7.70 7.26 7.78 8.00 8.39 7.93 7.69 7.59 8.25 7.72 7.58 7.95 8.56 8.02
Payables turnover 8.08 7.27 7.24 7.86 8.33 10.36 10.25 9.24 8.92 10.59 10.45 10.41 8.92 9.72 10.93 11.43 8.67
Working capital turnover 371.45 27.22 6.04 5.04 6.01 7.69
Average No. Days
Average inventory processing period 4 5 5 5 5 5 5 4 4 4 4 4 4 4 4 4 4
Add: Average receivable collection period 46 49 49 47 50 47 46 44 46 47 48 44 47 48 46 43 45
Operating cycle 50 54 54 52 55 52 51 48 50 51 52 48 51 52 50 47 49
Less: Average payables payment period 45 50 50 46 44 35 36 39 41 34 35 35 41 38 33 32 42
Cash conversion cycle 5 4 4 6 11 17 15 9 9 17 17 13 10 14 17 15 7

Based on: 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. Waste Management Inc. inventory turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.
Receivables turnover An activity ratio equal to revenue divided by receivables. Waste Management Inc. receivables turnover ratio deteriorated from Q2 2021 to Q3 2021 but then improved from Q3 2021 to Q4 2021 exceeding Q2 2021 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Waste Management Inc. payables turnover ratio increased from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

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.
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.
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

Waste Management Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
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)
Operating costs 2,955 2,906 2,736 2,514 2,500 2,332 2,180 2,329 2,314 2,441 2,443 2,298 2,379 2,373 2,313 2,184 2,263 2,302 2,290 2,166
Parts and supplies 135 132 126 124 124 117 118 116 106 109 104 105 102 103 100 98 96 99 96 95
Short-term Activity Ratio
Inventory turnover1 82.30 80.73 80.02 76.82 75.33 78.25 78.51 82.13 89.58 87.72 91.28 89.17 90.68 88.67 90.62 92.23 93.97

Based on: 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 Q4 2021 Calculation
Inventory turnover = (Operating costsQ4 2021 + Operating costsQ3 2021 + Operating costsQ2 2021 + Operating costsQ1 2021) ÷ Parts and supplies
= (2,955 + 2,906 + 2,736 + 2,514) ÷ 135 = 82.30

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Waste Management Inc. inventory turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Receivables Turnover

Waste Management Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
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)
Operating revenues 4,678 4,665 4,476 4,112 4,067 3,861 3,561 3,729 3,846 3,967 3,946 3,696 3,842 3,822 3,739 3,511 3,652 3,716 3,677 3,440
Accounts receivable, net of allowance for doubtful accounts 2,278 2,323 2,195 2,025 2,097 1,927 1,888 1,846 1,949 2,010 2,017 1,830 1,931 1,943 1,838 1,700 1,805 1,790 1,772 1,634
Short-term Activity Ratio
Receivables turnover1 7.87 7.46 7.52 7.70 7.26 7.78 8.00 8.39 7.93 7.69 7.59 8.25 7.72 7.58 7.95 8.56 8.02

Based on: 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 Q4 2021 Calculation
Receivables turnover = (Operating revenuesQ4 2021 + Operating revenuesQ3 2021 + Operating revenuesQ2 2021 + Operating revenuesQ1 2021) ÷ Accounts receivable, net of allowance for doubtful accounts
= (4,678 + 4,665 + 4,476 + 4,112) ÷ 2,278 = 7.87

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Waste Management Inc. receivables turnover ratio deteriorated from Q2 2021 to Q3 2021 but then improved from Q3 2021 to Q4 2021 exceeding Q2 2021 level.

Payables Turnover

Waste Management Inc., payables turnover calculation (quarterly data)

Microsoft Excel
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)
Operating costs 2,955 2,906 2,736 2,514 2,500 2,332 2,180 2,329 2,314 2,441 2,443 2,298 2,379 2,373 2,313 2,184 2,263 2,302 2,290 2,166
Accounts payable 1,375 1,466 1,393 1,212 1,121 884 904 1,031 1,065 903 908 899 1,037 940 829 791 1,040 789 808 720
Short-term Activity Ratio
Payables turnover1 8.08 7.27 7.24 7.86 8.33 10.36 10.25 9.24 8.92 10.59 10.45 10.41 8.92 9.72 10.93 11.43 8.67

Based on: 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 Q4 2021 Calculation
Payables turnover = (Operating costsQ4 2021 + Operating costsQ3 2021 + Operating costsQ2 2021 + Operating costsQ1 2021) ÷ Accounts payable
= (2,955 + 2,906 + 2,736 + 2,514) ÷ 1,375 = 8.08

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Waste Management Inc. payables turnover ratio increased from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Working Capital Turnover

Waste Management Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
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 3,069 3,184 3,226 3,327 3,540 3,357 5,106 5,635 6,209 5,560 4,836 2,488 2,645 2,675 2,471 2,491 2,624 2,300 2,326 2,223
Less: Current liabilities 4,082 4,102 3,683 3,285 3,553 2,806 5,772 3,070 3,144 2,989 2,846 3,612 3,108 3,070 3,305 3,373 3,262 3,259 2,770 2,558
Working capital (1,013) (918) (457) 42 (13) 551 (666) 2,565 3,065 2,571 1,990 (1,124) (463) (395) (834) (882) (638) (959) (444) (335)
 
Operating revenues 4,678 4,665 4,476 4,112 4,067 3,861 3,561 3,729 3,846 3,967 3,946 3,696 3,842 3,822 3,739 3,511 3,652 3,716 3,677 3,440
Short-term Activity Ratio
Working capital turnover1 371.45 27.22 6.04 5.04 6.01 7.69

Based on: 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 Q4 2021 Calculation
Working capital turnover = (Operating revenuesQ4 2021 + Operating revenuesQ3 2021 + Operating revenuesQ2 2021 + Operating revenuesQ1 2021) ÷ Working capital
= (4,678 + 4,665 + 4,476 + 4,112) ÷ -1,013 =


Average Inventory Processing Period

Waste Management Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
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 82.30 80.73 80.02 76.82 75.33 78.25 78.51 82.13 89.58 87.72 91.28 89.17 90.68 88.67 90.62 92.23 93.97
Short-term Activity Ratio (no. days)
Average inventory processing period1 4 5 5 5 5 5 5 4 4 4 4 4 4 4 4 4 4

Based on: 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 Q4 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 82.30 = 4

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

Waste Management Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
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 7.87 7.46 7.52 7.70 7.26 7.78 8.00 8.39 7.93 7.69 7.59 8.25 7.72 7.58 7.95 8.56 8.02
Short-term Activity Ratio (no. days)
Average receivable collection period1 46 49 49 47 50 47 46 44 46 47 48 44 47 48 46 43 45

Based on: 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 Q4 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 7.87 = 46

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

Waste Management Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
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 4 5 5 5 5 5 5 4 4 4 4 4 4 4 4 4 4
Average receivable collection period 46 49 49 47 50 47 46 44 46 47 48 44 47 48 46 43 45
Short-term Activity Ratio
Operating cycle1 50 54 54 52 55 52 51 48 50 51 52 48 51 52 50 47 49

Based on: 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 Q4 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 4 + 46 = 50

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

Waste Management Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
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 8.08 7.27 7.24 7.86 8.33 10.36 10.25 9.24 8.92 10.59 10.45 10.41 8.92 9.72 10.93 11.43 8.67
Short-term Activity Ratio (no. days)
Average payables payment period1 45 50 50 46 44 35 36 39 41 34 35 35 41 38 33 32 42

Based on: 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 Q4 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 8.08 = 45

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.

Cash Conversion Cycle

Waste Management Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
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 4 5 5 5 5 5 5 4 4 4 4 4 4 4 4 4 4
Average receivable collection period 46 49 49 47 50 47 46 44 46 47 48 44 47 48 46 43 45
Average payables payment period 45 50 50 46 44 35 36 39 41 34 35 35 41 38 33 32 42
Short-term Activity Ratio
Cash conversion cycle1 5 4 4 6 11 17 15 9 9 17 17 13 10 14 17 15 7

Based on: 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 Q4 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 4 + 4645 = 5

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.