Crane NXT Co (CXT)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,140,400 | 2,884,700 | 2,167,000 | 1,971,800 | 1,895,500 |
| Inventory | US$ in thousands | 157,100 | 145,600 | 449,100 | 429,700 | 457,300 |
| Inventory turnover | 7.26 | 19.81 | 4.83 | 4.59 | 4.14 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,140,400K ÷ $157,100K
= 7.26
The inventory turnover ratio for Crane NXT Co has shown fluctuations over the past five years. In 2023, the inventory turnover ratio was 7.26, a decrease from the previous year's high of 19.81 in 2022. This indicates that in 2023, the company's inventory turned over 7.26 times during the year.
A higher inventory turnover ratio typically indicates that the company is efficient in managing its inventory levels and selling products quickly. However, the significant decrease from 2022 to 2023 may suggest that Crane NXT Co had a slower rate of inventory turnover in 2023.
Looking at the trend over the five-year period, the inventory turnover ratio has generally been above 4, indicating that Crane NXT Co has been able to efficiently manage its inventory levels and sell products within a reasonable time frame. However, fluctuations in the ratio should be further investigated to understand the underlying reasons for the changes and assess their impact on the company's operations and financial performance.
Peer comparison
Dec 31, 2023