California Resources Corp (CRC)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 362,000 | 310,000 | 343,000 | 2,205,000 | 2,295,000 |
| Inventory | US$ in thousands | 72,000 | 60,000 | 60,000 | 67,000 | 69,000 |
| Inventory turnover | 5.03 | 5.17 | 5.72 | 32.91 | 33.26 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $362,000K ÷ $72,000K
= 5.03
The inventory turnover ratio for California Resources Corporation for the past three years (2021, 2022, and 2023) has been 0.00. This indicates that the company has not been effectively managing its inventory in relation to its sales during these periods. A low or zero inventory turnover ratio may suggest overstocking, obsolete inventory, or difficulties in selling products within a reasonable timeframe.
Further analysis would be needed to determine the specific reasons behind the consistently low inventory turnover ratio. Possible factors could include inaccurate demand forecasting, inefficient inventory management practices, declining sales, or disruptions in the supply chain. It is important for California Resources Corporation to address these issues to improve operational efficiency and financial performance.
Peer comparison
Dec 31, 2023