Bloomin Brands Inc (BLMN)

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	3,029,210	2,953,678	2,947,247	2,939,082	2,878,100	2,869,421	2,830,538	2,476,660	2,095,418	1,716,842	1,350,147	1,203,886	1,269,126	1,343,883	1,423,666	1,575,594	1,583,544	1,584,331	1,594,840	1,609,283
Inventory	US$ in thousands	75,939	70,563	62,327	67,898	78,124	83,250	80,482	68,803	79,112	72,433	59,004	53,905	61,928	58,844	63,563	68,087	86,861	73,378	69,238	73,149
Inventory turnover		39.89	41.86	47.29	43.29	36.84	34.47	35.17	36.00	26.49	23.70	22.88	22.33	20.49	22.84	22.40	23.14	18.23	21.59	23.03	22.00

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,029,210K ÷ $75,939K
= 39.89

Bloomin Brands Inc's inventory turnover has been relatively stable over the past eight quarters. The inventory turnover ratio measures how many times a company's inventory is sold and replaced over a certain period. A higher inventory turnover indicates that the company is efficiently managing its inventory levels and is able to sell its products quickly.

From the data provided, we can see that Bloomin Brands Inc's inventory turnover has ranged from a low of 16.55 in Q3 2022 to a high of 22.39 in Q2 2023. The average inventory turnover over the eight quarters is approximately 19.24, indicating that, on average, Bloomin Brands Inc sells and replaces its inventory almost 19 times a year.

The increase in inventory turnover from Q3 2022 to Q2 2023 suggests that the company was able to sell its inventory at a faster rate during that period. This may indicate improved demand for its products or more efficient inventory management practices.

Overall, Bloomin Brands Inc's inventory turnover is healthy, showing that the company is efficiently managing its inventory. However, it is important to consider industry benchmarks and trends to assess whether the current inventory turnover is optimal for the company's operations.