Astec Industries Inc (ASTE)
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 | 1,295,100 | 1,316,900 | 1,313,500 | 1,295,500 | 1,244,000 | 1,195,500 | 1,144,200 | 1,089,300 | 1,078,800 | 1,007,543 | 986,155 | 980,795 | 986,200 | 1,069,513 | 1,089,766 | 1,056,678 | 1,034,973 | 1,096,725 | 1,042,589 | 1,092,657 |
| Inventory | US$ in thousands | 455,600 | 450,100 | 429,500 | 420,100 | 393,400 | 396,400 | 371,100 | 352,900 | 298,700 | 282,800 | 257,500 | 244,200 | 249,700 | 261,481 | 263,171 | 294,848 | 294,500 | 356,889 | 360,883 | 366,835 |
| Inventory turnover | 2.84 | 2.93 | 3.06 | 3.08 | 3.16 | 3.02 | 3.08 | 3.09 | 3.61 | 3.56 | 3.83 | 4.02 | 3.95 | 4.09 | 4.14 | 3.58 | 3.51 | 3.07 | 2.89 | 2.98 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,295,100K ÷ $455,600K
= 2.84
To analyze the inventory turnover of Astec Industries Inc., we observe fluctuations in the ratio over the past eight quarters. Inventory turnover measures the efficiency with which a company manages its inventory by indicating how many times during a period the inventory is sold and replaced. A higher turnover generally reflects a more efficient inventory management process.
Looking at the data provided, we can see a relatively stable trend in Astec Industries Inc.'s inventory turnover over the past two years. The inventory turnover ranged from 2.21 to 2.57, with a peak in Q4 2022. This indicates that, on average, the company's inventory was sold and replenished between 2.21 and 2.57 times during each of the respective quarters.
While there are minor fluctuations quarter to quarter, the overall trend shows that Astec Industries Inc. has maintained a consistent level of efficiency in managing its inventory. It is essential for the company to continue monitoring this metric to ensure optimal inventory levels and overall operational efficiency. Further investigation into the underlying factors contributing to these fluctuations can provide additional insights into the company's inventory management practices.
Peer comparison
Dec 31, 2023
Dec 31, 2023