Enersys (ENS)
Inventory turnover
| Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 170,641 | 139,117 | 2,745,100 | 2,409,610 | -568,741 |
| Inventory | US$ in thousands | 697,698 | 797,798 | 715,712 | 518,247 | 519,460 |
| Inventory turnover | 0.24 | 0.17 | 3.84 | 4.65 | -1.09 |
March 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $170,641K ÷ $697,698K
= 0.24
Enersys's inventory turnover has exhibited fluctuating trends over the past five years. The inventory turnover ratio indicates the efficiency with which the company manages its inventory. In the latest fiscal year, as of March 31, 2024, the inventory turnover ratio stands at 0.24, signifying that the company is turning over its inventory approximately 0.24 times during the year. This represents a slight improvement compared to the previous year's ratio of 0.17.
The significant decrease in inventory turnover in 2023 compared to the higher ratios in 2022 and 2021 could suggest potential issues with inventory management efficiency during that period. However, the subsequent recovery in 2024 indicates a potential improvement in managing and utilizing inventory effectively.
The negative inventory turnover ratio in 2020 indicates an anomaly or potential reporting error, as it implies that inventory was not effectively utilized or there may have been issues with inventory recording during that year.
Overall, Enersys should continue to monitor and analyze its inventory turnover ratio to ensure efficient inventory management practices and identify any potential areas for improvement in the future.
Peer comparison
Mar 31, 2024