Altria Group (MO)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Inventory turnover	5.63	5.58	5.27	5.05	5.15	5.34	5.38	5.14	5.46	6.00	5.93	5.73	5.96	6.41	4.10	3.72	3.98	4.10	3.96	3.83
Receivables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Payables turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Working capital turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Based on the provided data, we analyzed the activity ratios for Altria Group, focusing on inventory turnover, receivables turnover, payables turnover, and working capital turnover.

1. Inventory Turnover:
- Altria Group's inventory turnover has shown a fluctuating trend over the periods analyzed.
- The inventory turnover ratio increased from 3.83 in March 2020 to 6.00 in September 2022, indicating an improvement in inventory management efficiency.
- However, the ratio declined to 5.15 by December 2023 before slightly increasing to 5.63 by December 2024.

2. Receivables Turnover:
- The data for receivables turnover is not available in the provided information, suggesting a lack of insight into how quickly Altria Group collects its receivables.

3. Payables Turnover:
- Similar to receivables turnover, information on payables turnover is not provided, making it difficult to assess how efficiently Altria Group manages its payments to suppliers.

4. Working Capital Turnover:
- There is no data available for the working capital turnover ratio, which would have provided insight into how effectively Altria Group utilizes its working capital to generate revenue.

In conclusion, while the inventory turnover ratio showed some fluctuations, the lack of information for receivables turnover, payables turnover, and working capital turnover limits a comprehensive analysis of Altria Group's overall activity efficiency.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Days of inventory on hand (DOH)	days	64.87	65.44	69.30	72.34	70.85	68.39	67.89	71.07	66.86	60.80	61.56	63.69	61.22	56.99	88.97	98.03	91.79	89.11	92.15	95.34
Days of sales outstanding (DSO)	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Number of days of payables	days	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Based on the provided data, let's analyze the activity ratios of Altria Group over the past few years:

1. Days of Inventory on Hand (DOH):
- Altria Group's DOH has shown a gradual decline from 95.34 days as of March 31, 2020, to 64.87 days as of December 31, 2024. This decreasing trend indicates that the company has been managing its inventory more efficiently over time, likely through better inventory management practices or by adjusting production levels to align with demand.

2. Days of Sales Outstanding (DSO):
- Unfortunately, there is no data available for DSO, which is used to measure the average number of days a company takes to collect revenue after a sale. Without this information, it is challenging to evaluate Altria Group's efficiency in collecting accounts receivable.

3. Number of Days of Payables:
- Similarly, data for the number of days of payables, which measures how long a company takes to pay its suppliers, is not provided. This metric is crucial for evaluating the company's ability to manage its payables effectively and optimize its cash flow cycle.

In conclusion, based on the available information, Altria Group has shown improvements in its inventory management efficiency over the years. However, a complete assessment of the company's overall activity ratios, including DSO and the number of days of payables, would provide a more comprehensive understanding of its operational performance and cash flow management.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Fixed asset turnover	—	—	—	—	—	12.62	12.73	12.95	12.87	13.04	13.37	13.61	13.59	13.89	10.98	10.43	10.36	10.25	10.15	10.24
Total asset turnover	0.58	0.60	0.59	0.56	0.53	0.56	0.56	0.56	0.56	0.61	0.57	0.52	0.53	0.53	0.48	0.42	0.44	0.44	0.40	0.39

The Fixed Asset Turnover ratio measures how efficiently a company is utilizing its fixed assets to generate revenue. For Altria Group, the Fixed Asset Turnover ratio has been steadily increasing from March 2020 to June 2022, indicating improved efficiency in utilizing its fixed assets. However, from June 2022 to December 2023, there was a slight decline in this ratio, suggesting a potential slowdown in the utilization of fixed assets. As the ratio remained relatively stable from December 2023 onwards, it indicates a consistent level of efficiency in revenue generation from fixed assets.

The Total Asset Turnover ratio evaluates how well a company is generating revenue in relation to its total assets. Altria Group's Total Asset Turnover ratio demonstrates fluctuations over the years, with peaks seen in September 2022 and December 2022. This suggests that the company was effectively generating revenue relative to its total assets during these periods. Despite some fluctuations, the ratio generally remained within a narrow range, indicating a moderate level of efficiency in utilizing total assets to generate revenue.

Overall, the analysis of Altria Group's long-term activity ratios suggests a mixed performance in terms of asset utilization efficiency, with some periods of improvement and slight fluctuations in efficiency levels.