Corteva Inc (CTVA)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 9,529,000 | 10,064,000 | 10,436,000 | 9,220,000 | 8,507,000 |
| Inventory | US$ in thousands | 5,432,000 | 6,899,000 | 6,811,000 | 5,180,000 | 4,882,000 |
| Inventory turnover | 1.75 | 1.46 | 1.53 | 1.78 | 1.74 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $9,529,000K ÷ $5,432,000K
= 1.75
Corteva Inc's inventory turnover ratio has fluctuated over the past five years. From December 31, 2020, to December 31, 2021, the ratio increased from 1.74 to 1.78, indicating a slight improvement in inventory management efficiency. However, in the following years, the turnover ratio declined, reaching 1.46 by December 31, 2023. This decrease suggests that the company took longer to sell its inventory during these periods.
The inventory turnover ratio then rebounded to 1.75 by December 31, 2024, showing a partial recovery in inventory management efficiency. Overall, while there have been fluctuations in Corteva Inc's inventory turnover ratio, the company should continue to monitor and potentially optimize its inventory management practices to ensure efficient use of its inventory resources.
Peer comparison
Dec 31, 2024