Green Plains Renewable Energy Inc (GPRE)

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	3,103,838	3,345,726	3,491,284	3,577,507	3,525,011	3,396,969	3,170,291	2,888,385	2,625,109	2,392,379	2,095,820	1,887,166	2,058,970	2,276,010	2,510,889	3,009,134	2,374,842	2,348,131	1,742,699	878,147
Inventory	US$ in thousands	169,912	187,603	230,103	253,613	217,065	207,784	291,325	308,809	195,518	209,372	249,819	232,901	229,344	164,682	154,421	192,927	210,156	224,433	626,762	679,803
Inventory turnover		18.27	17.83	15.17	14.11	16.24	16.35	10.88	9.35	13.43	11.43	8.39	8.10	8.98	13.82	16.26	15.60	11.30	10.46	2.78	1.29

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,103,838K ÷ $169,912K
= 18.27

The inventory turnover for Green Plains Inc has been fluctuating over the past eight quarters. In general, a higher inventory turnover ratio indicates that the company is selling its inventory more efficiently.

Looking at the data, there is an upward trend in inventory turnover from Q1 2022 to Q3 2023, peaking at 16.08 in Q3 2023. This suggests that Green Plains Inc has been managing its inventory well and selling its products at a faster rate during this period.

However, the inventory turnover ratio decreased in Q4 2023 to 14.38, which could indicate a potential slowdown in sales or an increase in the level of inventory held by the company at the end of the year.

Overall, Green Plains Inc has demonstrated relatively strong inventory turnover performance, with some fluctuations in recent quarters. The company should continue to monitor its inventory levels and sales practices to ensure optimal efficiency in managing its inventory going forward.