Corteva Inc (CTVA)
Inventory turnover
| Dec 31, 2024 | 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 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 9,828,000 | 9,698,000 | 9,779,000 | 9,816,000 | 9,920,000 | 10,064,000 | 10,297,000 | 10,483,000 | 10,436,000 | 10,158,000 | 9,837,000 | 9,524,000 | 9,220,000 | 9,100,000 | 8,839,000 | 8,658,000 | 8,507,000 | 8,363,000 | 8,415,000 | 8,633,000 |
| Inventory | US$ in thousands | 5,432,000 | 5,674,000 | 4,893,000 | 6,183,000 | 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 |
| Inventory turnover | 1.81 | 1.71 | 2.00 | 1.59 | 1.44 | 1.59 | 1.83 | 1.59 | 1.53 | 1.88 | 2.35 | 1.91 | 1.78 | 2.06 | 2.50 | 2.00 | 1.74 | 1.91 | 2.34 | 1.96 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $9,828,000K ÷ $5,432,000K
= 1.81
Corteva Inc's inventory turnover ratio measures the efficiency at which the company is managing its inventory. The trend in inventory turnover starting from March 31, 2020, at 1.96, shows a slight increase to 2.34 by June 30, 2020. This suggests that Corteva managed to sell its inventory more frequently during this period. However, the ratio dipped to 1.91 by September 30, 2020, before decreasing further to 1.74 by December 31, 2020.
From March 31, 2021, there was an improvement in the inventory turnover to 2.00, which increased to 2.50 by June 30, 2021, indicating more efficient inventory management. The ratio then fluctuated around the 2.00 mark until September 30, 2022, where it was 1.88. However, by December 31, 2022, the ratio dropped to 1.53 and remained below 2.00 until June 30, 2024.
Overall, the inventory turnover ratio for Corteva Inc has shown fluctuations within the range of 1.44 to 2.50 from December 31, 2023, to June 30, 2022. This suggests that the company's inventory management may have experienced some challenges during this period, impacting its ability to generate sales from its inventory efficiently. It is important for Corteva to monitor and improve its inventory turnover to enhance operational performance and profitability.
Peer comparison
Dec 31, 2024
Dec 31, 2024