Eastman Chemical Company (EMN)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 7,149,000 | 8,443,000 | 7,976,000 | 6,498,000 | 7,039,000 |
| Inventory | US$ in thousands | 1,683,000 | 1,894,000 | 1,504,000 | 1,379,000 | 1,662,000 |
| Inventory turnover | 4.25 | 4.46 | 5.30 | 4.71 | 4.24 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $7,149,000K ÷ $1,683,000K
= 4.25
The inventory turnover ratio for Eastman Chemical Co has shown a fluctuating trend over the past five years. In 2023, the inventory turnover was 4.25, a decrease from 4.46 in 2022. This indicates that the company's inventory turnover slowed down in 2023. However, when comparing to 2019 and 2020 where the turnover was 4.24 and 4.71 respectively, the turnover in 2023 was still within the range of the previous years. In 2021, the inventory turnover was at its peak of 5.30, suggesting that the company managed to sell its inventory more efficiently that year. Overall, the inventory turnover ratio for Eastman Chemical Co has been relatively stable over the past five years, indicating a consistent management of inventory levels and sales performance.
Peer comparison
Dec 31, 2023