CNX Resources Corp (CNX)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	137,994	151,654	141,281	656,174	485,849
Inventory	US$ in thousands	19,846	27,156	6,147	9,657	6,984
Inventory turnover		6.95	5.58	22.98	67.95	69.57

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $137,994K ÷ $19,846K
= 6.95

The inventory turnover ratio for CNX Resources Corp has consistently been calculated as 0.00 over the past five years. This indicates that the company is not efficiently managing its inventory levels in relation to its sales. A low inventory turnover ratio could suggest overstocking, slow-moving inventory, poor demand forecasting, or inefficient inventory management practices within the company. It is important for CNX Resources Corp to closely evaluate and improve its inventory management strategies to enhance operational efficiency and profitability.