Coca-Cola Consolidated Inc. (COKE)

Inventory turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cost of revenue US$ in thousands 5,999,010 5,735,830 5,311,950 4,895,290 4,825,710
Inventory US$ in thousands 321,932 347,545 302,851 225,757 225,926
Inventory turnover 18.63 16.50 17.54 21.68 21.36

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $5,999,010K ÷ $321,932K
= 18.63

Coca-Cola Consolidated Inc's inventory turnover has demonstrated variability over the past five years. In 2023, the company's inventory turnover ratio stood at 12.60, indicating that its inventory was sold and replaced approximately 12.60 times during the year. This figure represents an increase from the previous year, where the inventory turnover was 11.29.

Comparing the most recent data to the figures from 2021 and 2020, we observe that the inventory turnover ratios were 11.92 and 14.34, respectively. This suggests a fluctuation in the company's efficiency in managing its inventory levels and converting them into sales within a given period.

Furthermore, the inventory turnover in 2019 was 13.97, slightly higher than the ratio in 2023. This indicates that there has been some variability in the company's inventory management practices over the years, impacting the speed at which inventory is cycled through the business.

Overall, while Coca-Cola Consolidated Inc's inventory turnover ratio has fluctuated in recent years, the company appears to generally maintain efficient inventory management practices, albeit with some variability in performance.


Peer comparison

Dec 31, 2023

Company name
Symbol
Inventory turnover
Coca-Cola Consolidated Inc.
COKE
18.63
Celsius Holdings Inc
CELH
2.99
Monster Beverage Corp
MNST
4.18
National Beverage Corp
FIZZ
9.02