Now Inc (DNOW)
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 | 1,806,000 | 1,793,000 | 1,776,000 | 1,735,000 | 1,653,000 | 1,568,000 | 1,472,000 | 1,366,000 | 1,290,000 | 1,235,000 | 1,157,000 | 1,143,000 | 1,658,000 | 2,019,000 | 2,357,000 | 2,681,000 | 2,505,000 | 2,470,000 | 2,523,000 | 2,520,000 |
| Inventory | US$ in thousands | 366,000 | 415,000 | 424,000 | 406,000 | 381,000 | 361,000 | 331,000 | 296,000 | 250,000 | 244,000 | 250,000 | 247,000 | 262,000 | 318,000 | 370,000 | 434,000 | 465,000 | 548,000 | 598,000 | 634,000 |
| Inventory turnover | 4.93 | 4.32 | 4.19 | 4.27 | 4.34 | 4.34 | 4.45 | 4.61 | 5.16 | 5.06 | 4.63 | 4.63 | 6.33 | 6.35 | 6.37 | 6.18 | 5.39 | 4.51 | 4.22 | 3.97 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,806,000K ÷ $366,000K
= 4.93
NOW Inc's inventory turnover has been relatively consistent over the past eight quarters, ranging from a low of 4.15 to a high of 4.88. This indicates that the company is effectively managing its inventory levels and efficiently converting its inventory into sales. The slight fluctuations in inventory turnover may be a result of seasonal variations or changes in demand for NOW Inc's products. Overall, a consistent inventory turnover ratio is a positive indicator of effective inventory management and operational efficiency within the company.
Peer comparison
Dec 31, 2023
Dec 31, 2023
Company name
Symbol
Inventory turnover
Now Inc
DNOW
4.93
Baker Hughes Co
BKR
0.63
Cactus Inc
WHD
0.77
Dril-Quip Inc
DRQ
1.59
NOV Inc.
NOV
3.14
Weatherford International PLC
WFRD
0.59