Air Products and Chemicals Inc (APD)
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 | 9,902,300 | 10,103,400 | 7,668,400 | 7,859,000 | 7,518,000 | 7,467,700 | 9,668,700 | 9,124,900 | 8,702,100 | 8,080,800 | 7,372,600 | 6,702,300 | 6,206,600 | 5,858,100 | 5,782,400 | 5,903,500 | 5,918,100 | 6,004,500 | 6,079,500 | 6,158,900 |
| Inventory | US$ in thousands | 709,300 | 651,800 | 663,900 | 645,600 | 635,300 | 514,200 | 514,000 | 507,500 | 487,200 | 453,900 | 447,200 | 430,300 | 422,900 | 404,800 | 410,900 | 399,700 | 400,600 | 388,300 | 408,300 | 408,300 |
| Inventory turnover | 13.96 | 15.50 | 11.55 | 12.17 | 11.83 | 14.52 | 18.81 | 17.98 | 17.86 | 17.80 | 16.49 | 15.58 | 14.68 | 14.47 | 14.07 | 14.77 | 14.77 | 15.46 | 14.89 | 15.08 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $9,902,300K ÷ $709,300K
= 13.96
Air Products & Chemicals Inc.'s inventory turnover has exhibited fluctuations over the past quarters. The company's inventory turnover ratio decreased from 12.16 in Q1 2024 to 13.55 in Q4 2023 but then increased to 13.93 in Q3 2023. This was followed by a further increase to 14.74 in Q2 2023. The highest inventory turnover ratio observed was in Q4 2022 at 18.16. The ratio then decreased to 16.97 in Q3 2022 and 16.12 in Q2 2022.
Overall, the trend indicates that the company has efficiently managed its inventory levels in recent quarters, with generally high turnover ratios. However, the fluctuations suggest that there may have been changes in demand, production levels, or inventory management strategies within the company during this period. This analysis indicates that Air Products & Chemicals Inc. has been effectively converting its inventory into sales, but further examination of the underlying factors influencing these fluctuations would be necessary to provide a more detailed assessment of the company's inventory management efficiency.
Peer comparison
Dec 31, 2023
Dec 31, 2023
See also:
Air Products and Chemicals Inc Inventory Turnover (Quarterly Data)