Chesapeake Utilities Corporation (CPK)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 452,400 | 415,320 | 443,187 | 352,037 | 295,580 |
| Inventory | US$ in thousands | 26,900 | 29,225 | 26,261 | 20,989 | 11,445 |
| Inventory turnover | 16.82 | 14.21 | 16.88 | 16.77 | 25.83 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $452,400K ÷ $26,900K
= 16.82
The inventory turnover ratio for Chesapeake Utilities Corporation has shown some fluctuations over the past five years. In 2020, the company achieved a high inventory turnover of 25.83 times, indicating that its inventory was sold and replenished efficiently throughout the year. However, in 2021, the inventory turnover decreased to 16.77 times, suggesting that the company took longer to sell its inventory compared to the previous year.
In 2022 and 2024, the inventory turnover remained relatively stable at 16.88 and 16.82 times respectively, indicating a consistent ability to manage inventory efficiently. However, there was a notable decline in inventory turnover in 2023 to 14.21 times, signaling a potential challenge in selling inventory or managing inventory levels effectively during that year.
Overall, analyzing the inventory turnover ratios indicates that while Chesapeake Utilities Corporation has demonstrated strong inventory management practices in most years, there were some variations in performance that may warrant further investigation or adjustments to optimize inventory turnover in the future.
Peer comparison
Dec 31, 2024