Civitas Resources Inc (CIVI)

Inventory turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	2,270,235	1,395,365	1,403,100	1,400,751	1,355,454	989,376	963,868	930,266	974,920	474,703	452,911	454,417	381,362	136,549	128,593	105,023	162,078	117,971	119,422	121,083
Inventory	US$ in thousands	—	-608,829	0	0	207,908	28,635	359,101	11,030	32,094	27,488	21,195	14,557	12,386	12,161	13,990	9,601	9,185	8,336	7,603	7,212
Inventory turnover		—	—	—	—	6.52	34.55	2.68	84.34	30.38	17.27	21.37	31.22	30.79	11.23	9.19	10.94	17.65	14.15	15.71	16.79

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,270,235K ÷ $—K
= —

The inventory turnover for Civitas Resources Inc fluctuated over the analyzed period. From March 31, 2020, to June 30, 2022, the inventory turnover ranged between 9.19 and 31.22 times. This indicates that the company effectively managed its inventory levels and turned over its inventory multiple times within a given period.

However, there was a significant increase in inventory turnover to 84.34 times on March 31, 2023, suggesting a possible reduction in average inventory levels relative to sales, which could be due to aggressive inventory management or increased sales efficiency.

The inventory turnover then dropped to 2.68 times on June 30, 2023, which could indicate potential issues such as overstocking or slower sales during that period. The subsequent increase to 34.55 times on September 30, 2023, and the drop to 6.52 times on December 31, 2023, may suggest volatility in inventory management during these quarters.

It is worth noting that the inventory turnover data is not available for the periods after March 31, 2024, which may limit a comprehensive analysis of the company's recent inventory management performance. Tracking this metric in future periods will be essential to assess the company's ongoing inventory efficiency.