Albany International Corporation (AIN)
Inventory turnover
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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cost of revenue (ttm) | US$ in thousands | 945,136 | 893,385 | 858,990 | 840,973 | 820,990 | 792,231 | 773,606 | 748,463 | 721,132 | 709,219 | 696,034 | 685,430 | 660,659 | 637,055 | 638,925 | 643,103 | 656,413 | 659,013 | 651,520 | 646,502 |
Inventory | US$ in thousands | 169,567 | 180,991 | 151,360 | 153,777 | 139,050 | 133,840 | 133,667 | 123,835 | 117,882 | 118,129 | 120,665 | 117,022 | 110,478 | 113,107 | 115,532 | 109,426 | 95,149 | 105,705 | 104,254 | 102,379 |
Inventory turnover | 5.57 | 4.94 | 5.68 | 5.47 | 5.90 | 5.92 | 5.79 | 6.04 | 6.12 | 6.00 | 5.77 | 5.86 | 5.98 | 5.63 | 5.53 | 5.88 | 6.90 | 6.23 | 6.25 | 6.31 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $945,136K ÷ $169,567K
= 5.57
Albany International Corp.'s inventory turnover ratio has shown some fluctuations over the past eight quarters, ranging from a low of 3.82 to a high of 4.64. The inventory turnover ratio measures how efficiently the company manages its inventory by indicating how many times the inventory is sold and replaced within a specific period.
Overall, the average inventory turnover ratio for Albany International Corp. over the period is 4.41, suggesting that, on average, the company is able to sell and replace its inventory approximately 4.41 times a year. A higher inventory turnover ratio generally indicates more efficient inventory management and a faster movement of goods through the company's operations. This can lead to lower carrying costs, less risk of inventory obsolescence, and potentially better profitability.
The fluctuations in inventory turnover may be influenced by various factors such as changes in demand, production efficiency, supply chain disruptions, or seasonal variations in sales. It is important for the company to closely monitor its inventory turnover ratio to ensure optimal inventory management and operational performance.