Albany International Corporation (AIN)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 828,839 | 730,543 | 645,105 | 550,849 | 529,538 |
| Inventory | US$ in thousands | 145,845 | 169,567 | 139,050 | 117,882 | 110,478 |
| Inventory turnover | 5.68 | 4.31 | 4.64 | 4.67 | 4.79 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $828,839K ÷ $145,845K
= 5.68
Albany International Corporation's inventory turnover has shown a generally consistent trend over the past five years. The inventory turnover ratio decreased slightly from 4.79 in 2020 to 4.67 in 2021. It continued to decline to 4.64 in 2022 and 4.31 in 2023, indicating a potentially slower rate of inventory turnover during these years.
However, in 2024, there was a significant improvement in inventory turnover, with the ratio increasing to 5.68. This uptick suggests that Albany International Corporation was more efficient in managing its inventory during that year, possibly selling inventory at a faster pace or optimizing its inventory levels.
Overall, while there were fluctuations in the inventory turnover ratio over the five-year period, the recent increase in 2024 is a positive sign of improved inventory management efficiency for the company. It could indicate better sales performance or more effective inventory control measures implemented by Albany International Corporation in that particular year.