Hess Corporation (HES)

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	565,000	665,000	659,000	648,000	592,000	485,000	453,000	443,000	426,000	396,000	430,000	432,000	2,614,000	2,659,000	2,736,000	2,736,000	549,000	571,000	526,000	566,000
Inventory	US$ in thousands	304,000	333,000	278,000	229,000	217,000	278,000	317,000	243,000	223,000	262,000	241,000	219,000	378,000	422,000	360,000	230,000	261,000	289,000	278,000	274,000
Inventory turnover		1.86	2.00	2.37	2.83	2.73	1.74	1.43	1.82	1.91	1.51	1.78	1.97	6.92	6.30	7.60	11.90	2.10	1.98	1.89	2.07

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $565,000K ÷ $304,000K
= 1.86

The inventory turnover ratio for Hess Corporation has been consistently reported as 0.00 for each quarter displayed, spanning from Q1 2022 to Q4 2023. This indicates that the company is not effectively managing its inventory levels in relation to its sales during these periods. A low or zero inventory turnover ratio may suggest inefficiencies in inventory control, overstocking, obsolete inventory, or challenges in sales and demand forecasting. Hess Corporation should reassess its inventory management practices to improve efficiency and optimize working capital utilization.