Corsair Gaming Inc (CRSR)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,099,610 | 1,078,470 | 1,390,210 | 1,236,940 |
| Inventory | US$ in thousands | 240,172 | 192,717 | 298,315 | 226,007 |
| Inventory turnover | 4.58 | 5.60 | 4.66 | 5.47 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,099,610K ÷ $240,172K
= 4.58
Corsair Gaming Inc's inventory turnover ratio has fluctuated over the past five years. The ratio stood at 4.58 in 2023, a decrease from the previous year's ratio of 5.60. This suggests that the company's inventory turnover slowed down, indicating that Corsair held onto its inventory for a longer period in 2023 compared to 2022. However, it is important to note that a higher inventory turnover ratio is generally preferable as it indicates that the company is selling its inventory more quickly.
Comparing the 2023 ratio to the ratios in 2021, 2020, and 2019, we see a similar pattern of fluctuations. In 2023, the inventory turnover ratio was lower than that of 2021 and 2019, but higher than that of 2020. This suggests some inconsistency in the management of inventory turnover over the years.
Overall, Corsair Gaming Inc's inventory turnover ratio has shown variability, which may indicate changes in sales volumes, inventory management practices, or market conditions. It is essential for the company to monitor and improve its inventory turnover to ensure efficient use of resources and maintain competitiveness in the industry.
Peer comparison
Dec 31, 2023