CVR Energy Inc (CVI)

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	7,974,000	8,323,000	8,845,000	9,569,000	9,766,000	9,409,000	8,525,000	7,567,000	7,023,000	6,206,000	5,560,000	4,449,000	4,120,000	4,368,000	4,768,000	5,609,000	5,662,000	5,778,000	6,087,000	6,380,000
Inventory	US$ in thousands	604,000	610,000	524,000	609,000	624,000	632,000	722,000	683,000	484,000	422,000	404,000	378,000	298,000	266,000	252,000	211,000	373,000	388,000	390,000	403,000
Inventory turnover		13.20	13.64	16.88	15.71	15.65	14.89	11.81	11.08	14.51	14.71	13.76	11.77	13.83	16.42	18.92	26.58	15.18	14.89	15.61	15.83

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $7,974,000K ÷ $604,000K
= 13.20

CVR Energy Inc's inventory turnover has shown an increasing trend over the past eight quarters. The inventory turnover ratio, indicating how efficiently the company manages its inventory levels, has fluctuated between 9.81 and 14.96 during this period.

In the most recent quarter, Q4 2023, the inventory turnover ratio was 11.61 compared to 12.06 in the previous quarter, Q3 2023. This slight decrease may suggest that CVR Energy Inc took slightly longer to sell its inventory in Q4 2023 compared to Q3 2023.

Looking at the broader trend, the company's inventory turnover has generally been on an upward trajectory since Q1 2022. This improvement indicates that CVR Energy Inc has been more efficient in managing its inventory levels and converting them into sales over time.

Overall, with a fluctuating but generally increasing inventory turnover ratio, CVR Energy Inc has shown improvements in managing its inventory efficiently, which is a positive indication of effective inventory management practices within the company.