CNX Resources Corp (CNX)

Inventory turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	148,573	137,994	151,654	141,281	656,174
Inventory	US$ in thousands	14,572	19,846	27,156	6,147	9,657
Inventory turnover		10.20	6.95	5.58	22.98	67.95

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $148,573K ÷ $14,572K
= 10.20

CNX Resources Corp's inventory turnover has shown a decreasing trend over the years. In December 2020, the inventory turnover was 67.95, indicating that the company was able to sell and replace its inventory nearly 68 times during that year. However, by December 2024, the inventory turnover had decreased to 10.20, suggesting that the company was only able to sell and replace its inventory around 10 times during that year.

A high inventory turnover is generally considered favorable as it indicates efficient inventory management, while a low inventory turnover may imply excess inventory or difficulties in selling products. CNX Resources Corp's decreasing inventory turnover could signal potential concerns such as slowing sales, changing market demand, or challenges in managing inventory levels effectively. Further analysis is recommended to understand the specific reasons behind this trend and to implement strategies to optimize inventory turnover and enhance overall operational efficiency.