Barnes Group Inc (B)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,425,610 | 1,249,740 | 1,155,180 | 1,061,200 | 1,317,190 |
| Inventory | US$ in thousands | 365,221 | 283,402 | 239,655 | 238,008 | 232,706 |
| Inventory turnover | 3.90 | 4.41 | 4.82 | 4.46 | 5.66 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,425,610K ÷ $365,221K
= 3.90
The inventory turnover ratio for Barnes Group Inc. has demonstrated fluctuation over the past five years, as follows:
- As of December 31, 2019, the company had an inventory turnover ratio of 4.06, indicating that its inventory turned over approximately 4.06 times during that year.
- By the end of 2020, the inventory turnover ratio decreased to 3.03, showing a decline in the efficiency of managing inventory turnover.
- In 2021, there was an improvement as the inventory turnover ratio increased to 3.35, suggesting better management of inventory levels.
- However, by the end of 2022, the ratio decreased slightly to 2.96, signifying a potential challenge in managing inventory efficiently.
- The most recent data as of December 31, 2023, shows a further decrease in the inventory turnover ratio to 2.76, indicating a potential slowdown in converting inventory into sales.
Overall, the trend in inventory turnover for Barnes Group Inc. shows some fluctuations, with potential areas for improvement in managing inventory levels more effectively to enhance operational efficiency and liquidity.
Peer comparison
Dec 31, 2023