Duke Energy Corporation (DUK)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 7,513,000 | 7,771,000 | 7,590,000 | 13,823,000 | 8,857,000 |
| Inventory | US$ in thousands | 8,584,000 | 7,168,000 | 6,398,000 | 6,334,000 | 6,464,000 |
| Inventory turnover | 0.88 | 1.08 | 1.19 | 2.18 | 1.37 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $7,513,000K ÷ $8,584,000K
= 0.88
The inventory turnover ratio for Duke Energy Corp. has fluctuated over the past five years, ranging from 2.06 to 2.81. A higher inventory turnover ratio indicates that the company is selling its inventory more efficiently. In 2022, Duke Energy Corp. achieved a peak inventory turnover of 2.81, suggesting improved inventory management. However, the ratio slightly decreased in 2023 to 2.26, which may indicate a slower rate of inventory turnover compared to the previous year.
Overall, Duke Energy Corp. has maintained a moderate level of inventory turnover over the five-year period, averaging around 2.32. Further analysis is needed to understand the factors influencing the fluctuations in the inventory turnover ratio and to assess the effectiveness of Duke Energy Corp.'s inventory management practices.
Peer comparison
Dec 31, 2023