Installed Building Products Inc (IBP)
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 | 2,420,481 | 2,397,228 | 2,418,015 | 2,404,110 | 2,352,641 | 2,235,372 | 2,065,068 | 1,914,787 | 1,792,770 | 1,717,299 | 1,636,379 | 1,551,998 | 1,510,862 | 1,468,869 | 1,452,987 | 1,443,698 | 1,402,766 | 1,361,855 | 1,325,505 | 1,288,453 |
| Inventory | US$ in thousands | 162,800 | 159,675 | 163,378 | 170,115 | 176,600 | 182,176 | 192,387 | 160,023 | 143,039 | 118,093 | 99,482 | 85,980 | 77,179 | 70,218 | 69,149 | 73,569 | 74,606 | 63,547 | 63,951 | 60,654 |
| Inventory turnover | 14.87 | 15.01 | 14.80 | 14.13 | 13.32 | 12.27 | 10.73 | 11.97 | 12.53 | 14.54 | 16.45 | 18.05 | 19.58 | 20.92 | 21.01 | 19.62 | 18.80 | 21.43 | 20.73 | 21.24 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,420,481K ÷ $162,800K
= 14.87
Installed Building Products Inc has shown consistent improvement in its inventory turnover ratio over the past eight quarters. The ratio has been steadily increasing from 9.26 in Q1 2022 to 11.35 in Q4 2023, indicating that the company is more efficient in managing its inventory levels and turning inventory into sales during this period. This trend suggests that the company is effectively managing its inventory, potentially leading to improved cash flow and profitability. The increasing inventory turnover ratio is a positive sign for investors and indicates effective inventory management within the company.
Peer comparison
Dec 31, 2023
Dec 31, 2023