Activision Blizzard
Financial ratios & Valuation

Historical Multiples (2013 – 2022)

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 TTM Median
Valuation Ratios
Price/Earnings ratio
18.0717.2731.5927.66174.8819.5730.3232.5819.1539.5642.8942.89
Price/Sales ratio
3.983.276.044.046.804.737.028.855.877.9510.726.80
Price/Book Value ratio
2.751.993.492.935.043.123.554.762.933.113.563.12
Price/Cash Flow ratio
14.4411.1623.6412.3921.5719.8224.8931.7821.4126.9632.4021.57
Price/Free Cash Flow ratio
15.3412.1726.0613.2323.1921.3926.5732.9222.1428.1133.6723.19
Price/Earnings Growth ratio
-3.650.925.143.71-2.410.03-1.820.710.88-0.886.98-2.41
Dividend Yield
1.18%1.01%0.60%0.72%0.47%0.72%0.62%0.44%0.70%0.61%1.04%0.47%
Profitability Indicator Ratios
Gross Profit Margin
66.59%65.40%66.01%63.77%64.35%66.44%67.73%72.05%73.67%70.48%70.00%64.35%
Operating Profit Margin
29.93%26.83%28.28%21.36%18.65%26.50%24.76%33.81%37.02%22.18%28.10%18.65%
Pretax Profit Margin
28.78%22.25%24.03%16.73%16.40%25.02%25.16%32.35%35.94%23.16%29.99%16.40%
Net Profit Margin
22.03%18.94%19.12%14.61%3.89%24.17%23.16%27.17%30.65%20.09%24.98%3.89%
Effective Tax Rate
23.42%14.88%20.42%12.65%76.28%3.40%7.96%16.01%14.69%13.24%16.70%16.70%
Return on Assets
7.20%5.66%5.85%5.53%1.45%10.16%7.57%9.50%10.77%5.52%6.06%1.45%
Return On Equity
15.25%11.54%11.05%10.59%2.88%15.96%11.73%14.61%15.33%7.86%8.62%2.88%
Return on Capital Employed
11.82%9.83%10.44%9.54%8.69%13.08%9.49%13.66%14.39%7.00%7.72%13.08%
Liquidity Ratios
Current Ratio
2.592.541.291.811.772.312.503.40N/AN/A4.661.77
Quick Ratio
2.062.502.611.801.762.292.493.405.204.074.251.76
Cash ratio
1.831.780.691.221.281.591.982.784.321.983.241.28
Days of Sales Outstanding
41.0154.5653.1340.4347.7550.3747.6947.4840.3058.3754.5647.75
Days of Inventory outstanding
40.7629.4329.477.476.716.235.57N/AN/AN/AN/A6.23
Operating Cycle
81.7884.0082.6147.9054.4656.6053.2747.4840.3058.3754.5654.46
Days of Payables Outstanding
84.6377.7865.4033.8447.1336.6850.8947.6444.8953.2239.5436.68
Cash Conversion Cycle
-2.856.2217.2114.057.3219.912.37-0.15-4.595.1515.027.32
Debt Ratios
Debt Ratio
0.330.290.260.280.230.140.130.150.140.130.120.14
Debt Equity Ratio
0.700.590.500.530.460.230.210.240.200.190.170.23
Long-term Debt to Capitalization
0.410.370.330.340.310.190.170.190.170.150.140.19
Total Debt to Capitalization
0.410.370.330.340.310.190.170.190.170.160.140.19
Interest Coverage Ratio
23.655.68N/AN/AN/AN/A19.3228.56N/AN/A24.02N/A
Cash Flow to Debt Ratio
0.260.290.290.440.500.670.660.610.650.600.630.50
Company Equity Multiplier
2.112.031.881.911.971.571.541.531.421.421.371.57
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.270.290.250.320.310.230.280.270.270.290.330.31
Free Cash Flow / Operating Cash Flow Ratio
0.940.910.900.930.920.920.930.960.960.950.960.92
Cash Flow Coverage Ratio
0.260.290.290.440.500.670.660.610.650.600.630.50
Short Term Coverage Ratio
50.56N/AN/AN/AN/AN/A29.0634.1231.3526.74N/AN/A
Dividend Payout Ratio
21.38%17.60%19.05%20.18%82.78%14.28%18.82%14.38%13.52%24.25%N/A14.28%