Core Natural Resources, Inc. (CNR)
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 | 497,552 | 499,175 | 509,604 | 535,201 | 535,420 | 499,101 | 457,116 | 419,323 | 386,608 | 375,771 | 365,917 | 335,835 | 328,402 | 315,996 | 1,170,422 | 1,141,453 | 1,112,633 | 1,098,485 | 226,703 | 227,468 |
| Inventory | US$ in thousands | 96,201 | 686,588 | 619,185 | 109,490 | 88,154 | 98,386 | 97,675 | 95,635 | 66,290 | 74,955 | 707,657 | 817,715 | 748,732 | 614,573 | 549,736 | 494,092 | 431,937 | 408,897 | 402,994 | 460,405 |
| Inventory turnover | 5.17 | 0.73 | 0.82 | 4.89 | 6.07 | 5.07 | 4.68 | 4.38 | 5.83 | 5.01 | 0.52 | 0.41 | 0.44 | 0.51 | 2.13 | 2.31 | 2.58 | 2.69 | 0.56 | 0.49 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $497,552K ÷ $96,201K
= 5.17
Core Natural Resources, Inc.'s inventory turnover ratio fluctuated significantly over the past few years. The ratio was relatively low in the first half of 2020, indicating a longer time taken to sell through inventory. However, there was a notable improvement in the latter half of 2020 and into 2021, with the turnover ratio increasing to above 2, reflecting a more efficient management of inventory.
In the subsequent periods up to June 2022, the inventory turnover ratio decreased again, signaling a slowdown in the turnover of inventory. However, from September 2022 onwards, there was a substantial surge in the ratio, reaching peaks of over 5 in December 2022 and 6 in December 2023. This suggests that Core Natural Resources improved its inventory management significantly, possibly through better demand forecasting or more effective inventory control systems.
The ratio dipped in June 2024 but remained relatively high compared to previous periods. Overall, the trend indicates that Core Natural Resources has made progress in efficiently managing its inventory, potentially leading to cost savings and improved cash flow.
Peer comparison
Dec 31, 2024
Dec 31, 2024