CNX Resources Corp (CNX)

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	142,249	137,826	138,631	132,685	133,348	134,831	142,847	148,576	147,532	153,786	141,811	135,264	129,166	180,041	175,667	173,602	644,019	856,000	861,268	873,856
Inventory	US$ in thousands	14,572	12,965	14,505	14,368	19,846	20,007	26,470	29,339	27,156	19,650	14,490	6,469	6,147	5,486	5,698	7,249	9,657	10,090	10,317	10,266
Inventory turnover		9.76	10.63	9.56	9.23	6.72	6.74	5.40	5.06	5.43	7.83	9.79	20.91	21.01	32.82	30.83	23.95	66.69	84.84	83.48	85.12

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $142,249K ÷ $14,572K
= 9.76

The inventory turnover ratio for CNX Resources Corp has shown a declining trend over the past few years. As of December 31, 2024, the inventory turnover ratio stood at 9.76, indicating that the company's inventory was being turned over approximately 9.76 times during the year. This is a moderate level of inventory turnover.

It is notable that the inventory turnover ratio has decreased from around 85 in March 2020 to 9.76 in December 2024. This significant decline suggests that CNX Resources Corp may be experiencing challenges in managing its inventory efficiently.

A low inventory turnover ratio could indicate issues such as overstocking, slow-moving inventory, or obsolete inventory, which could tie up working capital and impact the company's profitability. It is important for CNX Resources Corp to closely monitor its inventory levels and implement strategies to optimize inventory turnover and improve overall operational efficiency.