Civitas Resources Inc (CIVI)

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	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	62,849	45,768	46,298	61,757
Inventory	US$ in thousands	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	7,726	7,312	2,946	2,484
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	8.13	6.26	15.72	24.86

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,355,454K ÷ $207,908K
= 6.52

Based on the information provided, Civitas Resources Inc has not reported any specific inventory turnover figures for the quarters mentioned in the table. However, we can observe that the inventory turnover for the last four quarters has been consistently reported as zero.

A zero inventory turnover indicates that Civitas Resources Inc is not selling or depleting its inventory throughout these periods. This may suggest potential issues such as overstocking, slow-moving inventory, or inefficient inventory management practices. It is essential for the company to address these issues to improve its liquidity, cash flow, and overall operational efficiency. Further investigation into the reasons behind the zero turnover and proactive measures to optimize inventory management are recommended to enhance the company's financial performance and competitiveness in the industry.