Crane NXT Co (CXT)
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 | 1,551,300 | 1,963,000 | 2,373,700 | 2,830,000 | 2,807,000 | 2,584,400 | 2,469,900 | 2,265,900 | 2,058,400 | 2,032,100 | 1,906,000 | 1,794,900 | 1,796,200 | 1,888,100 | 1,939,200 | 2,049,400 | 2,104,100 | 2,100,600 | 2,151,000 | 2,161,600 |
| Inventory | US$ in thousands | 157,100 | 165,900 | 173,800 | 492,900 | 145,600 | 435,700 | 442,900 | 471,300 | 449,100 | 445,800 | 456,900 | 436,900 | 429,700 | 456,000 | 475,100 | 489,500 | 457,300 | 445,500 | 430,600 | 440,600 |
| Inventory turnover | 9.87 | 11.83 | 13.66 | 5.74 | 19.28 | 5.93 | 5.58 | 4.81 | 4.58 | 4.56 | 4.17 | 4.11 | 4.18 | 4.14 | 4.08 | 4.19 | 4.60 | 4.72 | 5.00 | 4.91 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,551,300K ÷ $157,100K
= 9.87
Crane NXT Co's inventory turnover has fluctuated over the past few quarters, indicating variability in how efficiently the company is managing its inventory. A higher inventory turnover ratio suggests that the company is selling its inventory quickly, which can be a positive sign of operational efficiency.
In particular, the inventory turnover ratio increased from 5.93 at the end of September 2022 to 19.28 at the end of December 2022, indicating a significant improvement in inventory management during that period. However, this high ratio may also suggest potential issues such as stockouts or lost sales due to understocking.
Conversely, the inventory turnover ratio decreased to 4.56 at the end of September 2021 from 4.58 at the end of June 2021, implying a slowdown in inventory movement during that timeframe.
Overall, it is essential for Crane NXT Co to consistently monitor its inventory turnover ratio to ensure optimal inventory management practices that balance between having enough inventory to meet demand and minimizing holding costs.
Peer comparison
Dec 31, 2023
Dec 31, 2023