Eagle Materials Inc (EXP)
Inventory turnover
| Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,716,672 | 1,682,095 | 1,654,903 | 1,649,565 | 1,634,701 | 1,609,135 | 1,581,127 | 1,521,691 | 1,458,077 | 1,388,420 | 1,359,229 | 1,335,553 | 1,326,956 | 1,327,499 | 1,520,280 | 1,502,414 | 1,468,806 | 1,657,305 | 1,418,781 | 1,388,793 |
| Inventory | US$ in thousands | 373,923 | 333,828 | 301,374 | 302,525 | 291,882 | 247,155 | 225,835 | 233,543 | 236,661 | 211,978 | 203,745 | 217,052 | 235,749 | 228,667 | 227,106 | 243,125 | 272,121 | 234,264 | 241,599 | 263,612 |
| Inventory turnover | 4.59 | 5.04 | 5.49 | 5.45 | 5.60 | 6.51 | 7.00 | 6.52 | 6.16 | 6.55 | 6.67 | 6.15 | 5.63 | 5.81 | 6.69 | 6.18 | 5.40 | 7.07 | 5.87 | 5.27 |
March 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,716,672K ÷ $373,923K
= 4.59
The inventory turnover ratio of Eagle Materials Inc has shown a fluctuating trend over the past few quarters. The ratio measures how efficiently the company manages its inventory by indicating the number of times the inventory is sold and replaced over a period.
The inventory turnover ratio for March 31, 2024, is 4.59, which indicates that the company's inventory turned over approximately 4.59 times during the quarter. This is a decrease from the previous quarter's ratio of 5.04. Although the latest ratio is lower, it is still within a moderate range.
Looking at the trend over the past year, the inventory turnover ratio has ranged from a low of 5.27 to a high of 7.00. The company seems to have been able to maintain a relatively stable turnover ratio, with some fluctuations from quarter to quarter.
Overall, a higher inventory turnover ratio indicates efficient inventory management, as the company is selling and replacing inventory more frequently. However, it is essential to analyze the ratio in conjunction with other factors such as industry benchmarks and company-specific considerations to gain a more comprehensive understanding of Eagle Materials Inc's inventory management efficiency.