EOG Resources Inc (EOG)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 928,000 | 1,031,000 | 970,000 | 2,651,690 | 1,063,760 |
| Inventory | US$ in thousands | 1,275,000 | 1,058,000 | 584,000 | 629,000 | 767,297 |
| Inventory turnover | 0.73 | 0.97 | 1.66 | 4.22 | 1.39 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $928,000K ÷ $1,275,000K
= 0.73
The inventory turnover for EOG Resources, Inc. has been consistently reported as 0.00 for the past five fiscal years, indicating that the company is not effectively managing its inventory levels. This suggests that EOG Resources has a significant amount of inventory on hand relative to its sales, which can lead to increased holding costs and potential write-offs due to obsolescence. A low inventory turnover may also point towards ineffective forecasting or demand planning. EOG Resources, Inc. may benefit from implementing better inventory management practices to optimize its working capital and improve overall efficiency.
Peer comparison
Dec 31, 2023