Haverty Furniture Companies Inc (HVT)
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 | 794,853 | 849,922 | 893,153 | 926,480 | 929,289 | 913,991 | 900,213 | 896,361 | 894,441 | 871,363 | 838,265 | 740,351 | 706,546 | 498,233 | 504,262 | 565,411 | 571,035 | 765,036 | 761,934 | 767,545 |
| Inventory | US$ in thousands | 93,956 | 102,334 | 114,722 | 114,254 | 118,333 | 137,315 | 134,053 | 119,857 | 112,031 | 118,961 | 115,056 | 103,569 | 89,908 | 90,943 | 104,840 | 110,547 | 104,817 | 99,958 | 109,213 | 109,379 |
| Inventory turnover | 8.46 | 8.31 | 7.79 | 8.11 | 7.85 | 6.66 | 6.72 | 7.48 | 7.98 | 7.32 | 7.29 | 7.15 | 7.86 | 5.48 | 4.81 | 5.11 | 5.45 | 7.65 | 6.98 | 7.02 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $794,853K ÷ $93,956K
= 8.46
Haverty Furniture Cos., Inc. has shown relatively consistent inventory turnover over the past eight quarters. The average inventory turnover for the period is approximately 3.58, indicating that, on average, the company's inventory is sold and replaced about 3.58 times during the year.
The inventory turnover has ranged from a low of 3.19 in Q3 2022 to a high of 3.82 in Q1 2023. This suggests that the company effectively manages its inventory levels, ensuring that goods are sold in a timely manner and not left sitting in stock for extended periods.
Although the fluctuations in inventory turnover are relatively small, it is worth noting that lower turnover rates may indicate inefficiencies in inventory management, such as overstocking or slow-moving inventory. Conversely, higher turnover rates may suggest strong demand or efficient inventory control practices.
Overall, Haverty Furniture Cos., Inc. appears to maintain a healthy balance in managing its inventory levels, as evidenced by its consistent inventory turnover ratios over the past two years.
Peer comparison
Dec 31, 2023
Dec 31, 2023