CVR Energy Inc (CVI)

Inventory turnover

		Dec 31, 2024	Sep 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	Dec 31, 2019
Cost of revenue (ttm)	US$ in thousands	7,538,000	7,686,000	7,761,000	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
Inventory	US$ in thousands	502,000	498,000	601,000	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
Inventory turnover		15.02	15.43	12.91	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

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $7,538,000K ÷ $502,000K
= 15.02

The inventory turnover for CVR Energy Inc has shown fluctuations over the years. It was relatively high in the first quarter of 2020 at 26.58 times, indicating that inventory was selling quickly during that period. This number dropped to 11.08 by the first quarter of 2022, suggesting a decrease in the rate at which inventory was turned over.

Throughout the subsequent quarters, the inventory turnover ratio ranged between 11.08 and 16.88, indicating some stability in the management of inventory levels. However, the ratio decreased to 12.91 by the first quarter of 2024, reflecting a potential slowdown in inventory turnover efficiency.

It's important for CVR Energy Inc to analyze the reasons behind the variations in the inventory turnover ratio to ensure optimal inventory management. A consistently high turnover ratio indicates effective inventory management and can lead to lower storage costs and improved cash flow.