Corteva Inc (CTVA)
Inventory turnover
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 13,841,000 | 13,914,000 | 14,168,000 | 14,331,000 | 14,312,000 | 14,089,000 | 13,785,000 | 13,454,000 | 13,152,000 | 12,046,000 | 11,692,000 | 11,653,000 | 11,576,000 | 11,487,000 | 11,572,000 | 11,580,000 | 13,901,000 | |||
| Inventory | US$ in thousands | 6,899,000 | 6,320,000 | 5,628,000 | 6,585,000 | 6,811,000 | 5,415,000 | 4,184,000 | 4,986,000 | 5,180,000 | 4,417,000 | 3,541,000 | 4,321,000 | 4,882,000 | 4,374,000 | 3,589,000 | 4,401,000 | 5,032,000 | 4,403,000 | 3,918,000 | 5,019,000 |
| Inventory turnover | 2.01 | 2.20 | 2.52 | 2.18 | 2.10 | 2.60 | 3.29 | 2.70 | 2.54 | 2.73 | 3.30 | 2.70 | 2.37 | 2.63 | 3.22 | 2.63 | 2.76 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $13,841,000K ÷ $6,899,000K
= 2.01
Corteva Inc's inventory turnover has been fluctuating over the past eight quarters. The inventory turnover ratio measures how many times a company's inventory is sold and replaced over a specific period. A higher inventory turnover ratio indicates that inventory is being sold quickly, which is generally favorable.
Looking at the data provided:
- In Q4 2023, the inventory turnover was 1.44, which indicates a decrease from the previous quarter.
- In Q3 2023, the inventory turnover was 1.59, showing a slight increase from the prior quarter.
- In Q2 2023, the inventory turnover increased to 1.83, marking the highest turnover ratio in the set of data.
- In Q1 2023, the inventory turnover was 1.59, remaining the same as in Q3 2023.
Comparing the recent data with the previous quarters:
- Q4 2023's inventory turnover is slightly lower compared to the trend seen in the earlier quarters.
- Q2 2023 had the highest inventory turnover in the past eight quarters.
- Generally, the inventory turnover has been fairly stable over this period, with minor fluctuations.
Overall, Corteva's inventory turnover ratios suggest that the company's inventory management has been consistent, with some variability in how quickly inventory is being sold and replenished. It's essential for Corteva to closely monitor these ratios to ensure optimal inventory management and liquidity.
Peer comparison
Dec 31, 2023
Dec 31, 2023