Dover Corporation (DOV)
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 | 7,282,340 | 7,309,440 | 7,319,280 | 7,333,230 | 7,317,870 | 7,225,070 | 7,107,280 | 6,994,850 | 6,790,460 | 6,624,530 | 6,420,990 | 6,049,370 | 5,927,740 | 5,474,480 | 5,112,850 | 4,890,120 | 4,515,460 | 4,555,170 | 4,504,190 | 4,498,940 |
| Inventory | US$ in thousands | 1,225,450 | 1,279,780 | 1,396,260 | 1,405,420 | 1,366,610 | 1,407,800 | 1,381,610 | 1,322,350 | 1,191,100 | 1,055,830 | 977,831 | 900,607 | 835,804 | 838,539 | 885,972 | 852,075 | 806,141 | 816,563 | 849,266 | 828,298 |
| Inventory turnover | 5.94 | 5.71 | 5.24 | 5.22 | 5.35 | 5.13 | 5.14 | 5.29 | 5.70 | 6.27 | 6.57 | 6.72 | 7.09 | 6.53 | 5.77 | 5.74 | 5.60 | 5.58 | 5.30 | 5.43 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $7,282,340K ÷ $1,225,450K
= 5.94
The inventory turnover for Dover Corp. has been relatively stable over the past eight quarters, ranging from 3.78 to 4.37. This indicates that, on average, Dover Corp. has been able to sell and replace its inventory between approximately 3.78 to 4.37 times per year. The highest inventory turnover was observed in Q4 2023, suggesting an efficient management of inventory during that period. Overall, the consistent inventory turnover ratios reflect effective inventory management practices within the company, ensuring that inventory levels are optimized to meet customer demand while minimizing excess inventory holding costs.
Peer comparison
Dec 31, 2023
Dec 31, 2023