Boot Barn Holdings Inc (BOOT)
Inventory turnover
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,469,700 | 1,426,810 | 1,230,950 | 807,954 | 772,279 |
| Inventory | US$ in thousands | 599,120 | 589,494 | 474,300 | 275,760 | 288,717 |
| Inventory turnover | 2.45 | 2.42 | 2.60 | 2.93 | 2.67 |
March 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,469,700K ÷ $599,120K
= 2.45
Boot Barn Holdings Inc's inventory turnover has shown some fluctuations over the past five years. The company's inventory turnover ratio was 2.45 in 2024, slightly higher than the previous year's 2.42. This indicates that the company converted its inventory into sales 2.45 times during the year. Comparing this ratio to 2.60 in 2022, 2.93 in 2021, and 2.67 in 2020, we can see a general decreasing trend in inventory turnover efficiency over the past few years.
A declining inventory turnover ratio could suggest that Boot Barn Holdings Inc is taking longer to sell its inventory, which may lead to higher holding costs and potentially obsolete inventory issues. It could also indicate overstocking or slowing sales, which may require further analysis of the company's sales trends and inventory management strategies.
Overall, it is important for Boot Barn Holdings Inc to monitor its inventory turnover ratio closely and take steps to optimize its inventory management to ensure efficient use of resources and maintain healthy profitability in the long run.
Peer comparison
Mar 31, 2024