Crescent Energy Co (CRGY)

Inventory turnover

		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
Cost of revenue (ttm)	US$ in thousands	452,744	336,898	330,924	308,358	286,693	260,173	238,663	238,032	131,749
Inventory	US$ in thousands	30,089	—	76,014	94,727	89,158	142,209	30,001	40,286	-1,532	—	—	—
Inventory turnover		15.05	—	4.35	3.26	3.22	1.83	7.96	5.91	—

September 30, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $452,744K ÷ $30,089K
= 15.05

The inventory turnover ratio for Crescent Energy Co has shown variability over the past few quarters. In the most recent period ending on September 30, 2024, the inventory turnover was 15.05, indicating that the company's inventory was sold and replaced approximately 15 times during the period. This represents a significant improvement compared to the previous periods where the inventory turnover was lower.

It is important to note that there is missing data for the June 30, 2024, period, making it difficult to assess the trend between the two most recent quarters. However, looking at the data available, there was a notable increase in inventory turnover from March 31, 2024, to September 30, 2024.

In general, a higher inventory turnover ratio is favorable as it suggests that the company is efficiently managing its inventory levels and selling products quickly. This could indicate strong demand for Crescent Energy Co's products or effective inventory management strategies. However, it is essential to consider other factors such as industry norms and seasonality when interpreting inventory turnover ratios.