Chesapeake Utilities Corporation (CPK)
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 | 485,943 | 472,753 | 463,407 | 431,163 | 415,318 | 425,542 | 430,995 | 437,406 | 443,184 | 423,975 | 400,794 | 378,500 | 352,038 | 331,442 | 326,321 | 320,700 | 295,620 | 300,829 | 302,113 | 337,492 |
| Inventory | US$ in thousands | 8,900 | 27,920 | 29,027 | 29,152 | 29,225 | 24,594 | 24,365 | 26,025 | 26,261 | 20,625 | 20,766 | 20,000 | 20,989 | 13,633 | 12,600 | 12,113 | 11,445 | 9,682 | 9,348 | 10,757 |
| Inventory turnover | 54.60 | 16.93 | 15.96 | 14.79 | 14.21 | 17.30 | 17.69 | 16.81 | 16.88 | 20.56 | 19.30 | 18.92 | 16.77 | 24.31 | 25.90 | 26.48 | 25.83 | 31.07 | 32.32 | 31.37 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $485,943K ÷ $8,900K
= 54.60
The inventory turnover ratio is used to measure how efficiently a company manages its inventory by calculating the number of times inventory is sold and replaced within a specific period. In the case of Chesapeake Utilities Corporation, the inventory turnover has shown fluctuations over the reporting periods provided.
Initially, the inventory turnover ratio was relatively stable around 30, indicating that inventory was turning over approximately 30 times a year. However, starting from December 31, 2021, there was a noticeable decrease in the ratio, dropping to 16.77, which implies a slowdown in inventory turnover. This trend continued into the following periods, with the ratio bottoming out at 14.21 on December 31, 2023.
Subsequently, there was a slight improvement in inventory turnover, with the ratio increasing to 17.69 on June 30, 2023, and further rising to 16.93 on September 30, 2024. However, the ratio spiked significantly to 54.60 on December 31, 2024, indicating a sharp increase in inventory turnover, possibly due to various factors such as increased sales or better inventory management.
Overall, the inventory turnover ratio for Chesapeake Utilities Corporation has displayed variability over the periods provided, reflecting changes in the company's inventory management efficiency and sales activity. It is essential for the company to monitor and analyze these fluctuations to ensure optimal inventory control and operational performance.
Peer comparison
Dec 31, 2024
Dec 31, 2024