EOG Resources Inc (EOG)

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	904,000	929,000	970,000	1,012,000	1,010,000	1,060,000	1,028,000	973,000	948,000	841,812	821,262	1,094,532	2,628,142	2,707,224	2,747,807	2,548,447	1,039,058	983,471	895,339	1,236,993
Inventory	US$ in thousands	1,275,000	1,379,000	1,355,000	1,131,000	1,058,000	872,000	739,000	586,000	584,000	521,000	516,000	562,000	629,000	668,541	676,580	662,398	767,297	778,120	853,128	860,764
Inventory turnover		0.71	0.67	0.72	0.89	0.95	1.22	1.39	1.66	1.62	1.62	1.59	1.95	4.18	4.05	4.06	3.85	1.35	1.26	1.05	1.44

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $904,000K ÷ $1,275,000K
= 0.71

The inventory turnover ratios for EOG Resources, Inc. for each quarter provided in the table are consistently reported as 0.00. This indicates that the company was unable to sell or move its inventory during these periods. While a low inventory turnover ratio can sometimes be a sign of inefficiency or overstocking, it is important to note that EOG Resources, Inc. operates in the energy sector, where inventory turnover ratios can be impacted by various factors such as fluctuations in commodity prices, production levels, and demand for oil and gas products. Further analysis, including a comparison with industry benchmarks and trends over time, would be necessary to fully understand the implications of these consistently low inventory turnover ratios for EOG Resources, Inc.