Civitas Resources Inc (CIVI)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,281,690 | 1,363,730 | 975,603 | 382,423 | 162,577 |
| Inventory | US$ in thousands | — | 9,400 | 32,094 | 12,386 | 9,185 |
| Inventory turnover | — | 145.08 | 30.40 | 30.88 | 17.70 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $2,281,690K ÷ $—K
= —
Civitas Resources Inc's inventory turnover has shown a significant improvement over the period from December 31, 2020, to December 31, 2024. The ratio has increased from 17.70 in 2020 to 30.88 in 2021 and further to 30.40 in 2022. This indicates that the company is managing its inventory more efficiently, with a higher rate of turnover in recent years.
However, there was a substantial spike in inventory turnover to 145.08 in 2023, which may suggest a particularly aggressive approach to managing inventory levels, possibly due to changing market conditions or strategic decisions by the company.
Unfortunately, the data for December 31, 2024, is not available (denoted as "-", indicating missing data). It would be important to further analyze the latest year's inventory turnover once the information becomes available to understand the trend's continuity and assess the effectiveness of the company's inventory management practices. Overall, the increasing trend in inventory turnover is a positive sign of operational efficiency and effective inventory management by Civitas Resources Inc.
Peer comparison
Dec 31, 2024