Chuy's Holdings Inc (CHUY)

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	300,360	294,239	291,544	288,792	281,303	272,967	268,945	262,427	253,010	241,674	228,186	202,325	230,707	184,464	213,417	250,093	236,339	196,369	196,153	191,534
Inventory	US$ in thousands	1,805	1,681	1,667	1,614	2,069	1,622	1,759	1,614	1,676	1,423	1,431	1,269	1,449	1,401	1,538	1,519	1,657	1,635	1,723	1,581
Inventory turnover		166.40	175.04	174.89	178.93	135.96	168.29	152.90	162.59	150.96	169.83	159.46	159.44	159.22	131.67	138.76	164.64	142.63	120.10	113.84	121.15

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $300,360K ÷ $1,805K
= 166.40

Inventory turnover measures how efficiently a company manages its inventory by indicating the number of times the inventory is sold and replaced during a specific period. Chuy`s Holdings Inc's inventory turnover has shown variations over the past eight quarters. The trend indicates that in Q4 2023, the inventory turnover was 64.19, slightly lower than Q3 2023 at 68.59. However, compared to Q2 2023 and Q1 2023 at 69.55 and 72.72 respectively, the turnover has decreased. This could suggest that the company is holding inventory for a longer period or facing challenges in selling goods quickly. Despite this, the company's inventory turnover is still higher than the same period in 2022, indicating relative efficiency in managing inventory. Overall, Chuy`s Holdings Inc may need to closely monitor and potentially optimize their inventory management practices to improve turnover rates in the future.