Celanese Corporation (CE)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 9,612,000 | 8,212,000 | 6,534,000 | 4,915,000 | 5,300,000 |
| Inventory | US$ in thousands | 2,357,000 | 2,808,000 | 1,524,000 | 978,000 | 1,038,000 |
| Inventory turnover | 4.08 | 2.92 | 4.29 | 5.03 | 5.11 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $9,612,000K ÷ $2,357,000K
= 4.08
Celanese Corp's inventory turnover has exhibited fluctuating trends over the past five years. The company's inventory turnover ratio stood at 3.54 in 2023, indicating that the company turned over its inventory approximately 3.54 times during the year. This represents an improvement compared to the previous year when the ratio was 2.60.
In 2021, the inventory turnover ratio was 3.84, showing a slight decrease from the previous year but still higher than the current ratio. The highest inventory turnover was observed in 2020 and 2019, with ratios of 4.46 and 4.52, respectively, suggesting that the company managed its inventory efficiently during those years.
Overall, while there have been fluctuations in Celanese Corp's inventory turnover ratio, the company has generally demonstrated the ability to efficiently manage its inventory levels over the years. It is important for the company to monitor and potentially optimize its inventory turnover to ensure effective inventory management and maximize operational efficiency.
Peer comparison
Dec 31, 2023