Heartland Express Inc (HTLD)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	848,924	654,721	415,772	431,987	410,069
Inventory	US$ in thousands	—	11,293	9,168	8,241	9,107
Inventory turnover		—	57.98	45.35	52.42	45.03

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $848,924K ÷ $—K
= —

In order to analyze Heartland Express, Inc.'s inventory turnover, we need the values of inventory for the years ended December 31, 2020, 2021, 2022, and 2023, as well as the cost of goods sold for each respective year. The inventory turnover ratio is calculated by dividing the cost of goods sold by the average inventory for a specific period.

Once the necessary data is available, the inventory turnover ratio can provide insights into how effectively the company is managing its inventory. A high inventory turnover ratio indicates that the company is selling its inventory quickly, which can be a positive sign of efficient operations. On the other hand, a low inventory turnover ratio may suggest excess inventory levels or slow-moving inventory, which can tie up resources and impact profitability.

By analyzing the trend of Heartland Express, Inc.'s inventory turnover over the years, we can assess the company's inventory management practices and potential operational efficiency. This trend analysis can provide valuable information for investors and stakeholders evaluating the company's financial health and performance.