GMS Inc (GMS)
Inventory turnover
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 3,791,715 | 3,871,597 | 3,880,409 | 3,833,060 | 3,795,213 | 3,677,405 | 3,633,343 | 3,637,521 | 3,603,307 | 3,599,534 | 3,552,987 | 3,365,189 | 3,146,600 | 2,909,100 | 2,631,144 | 2,400,248 | 2,236,120 | 2,117,023 | 2,117,035 | 2,146,686 |
| Inventory | US$ in thousands | 586,191 | 599,284 | 594,311 | 607,403 | 580,830 | 582,613 | 559,449 | 582,679 | 575,495 | 586,651 | 576,388 | 577,938 | 550,953 | 585,351 | 552,180 | 470,249 | 357,054 | 327,725 | 302,357 | 287,266 |
| Inventory turnover | 6.47 | 6.46 | 6.53 | 6.31 | 6.53 | 6.31 | 6.49 | 6.24 | 6.26 | 6.14 | 6.16 | 5.82 | 5.71 | 4.97 | 4.77 | 5.10 | 6.26 | 6.46 | 7.00 | 7.47 |
April 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,791,715K ÷ $586,191K
= 6.47
The analysis of GMS Inc.'s inventory turnover over the period from July 31, 2020, to April 30, 2025, reveals notable fluctuations and a general trend of stabilization in recent periods.
Initially, the inventory turnover ratio decreased from 7.47 times as of July 31, 2020, to a low of 4.77 times by October 31, 2021. This decline suggests a period during which inventory was moving less efficiently, potentially indicating increased inventory levels relative to sales or supply chain adjustments.
Subsequently, the ratio exhibited a recovery trend starting from January 31, 2022, rising from 4.97 times to a peak of approximately 6.53 times as of April 30, 2024. This upward trend indicates an improvement in inventory management, reflecting more efficient sales and inventory utilization.
Throughout the latter part of the observation period, the ratio has remained relatively stable, fluctuating marginally around the 6.3 to 6.5 times range. This stability suggests that GMS Inc. has achieved a consistent level of inventory turnover, balancing inventory levels with sales demand effectively.
Overall, the company's inventory management appears to have improved after a period of inefficiency, reaching a steady state that points to a healthy turnover rate aligned with industry standards. The trend indicates effective inventory control and sales performance in the most recent periods.
Peer comparison
Apr 30, 2025
Apr 30, 2025