IDACORP Inc (IDA)

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	1,178	-2,267	216	1,235	1,108	274	453	2,735	5,871	8,987	9,917	9,198	8,468	41,964	42,779	43,558	43,947	51,510	49,717	47,628
Inventory	US$ in thousands	160,467	152,566	137,713	120,755	107,223	91,935	94,738	100,359	95,597	103,180	107,848	97,555	96,587	103,686	113,704	119,208	114,108	117,426	114,414	106,863
Inventory turnover		0.01	-0.01	0.00	0.01	0.01	0.00	0.00	0.03	0.06	0.09	0.09	0.09	0.09	0.40	0.38	0.37	0.39	0.44	0.43	0.45

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,178K ÷ $160,467K
= 0.01

Based on the data provided, Idacorp, Inc.'s inventory turnover has fluctuated over the recent quarters. Inventory turnover measures the efficiency of a company in managing its inventory levels. A higher inventory turnover ratio generally indicates that the company is selling its inventory more quickly.

In Q4 2023, the inventory turnover was 3.13, which suggests that the company's inventory was turning over approximately 3.13 times during the quarter. This is a decrease from the previous quarter's ratio of 3.80 in Q3 2023.

Q2 2023 had the highest inventory turnover ratio of 4.57, which indicates that the company was selling its inventory at a quicker pace during that period.

Over the past eight quarters, the company's inventory turnover has generally been within the range of 3.13 to 5.22. The variations in the inventory turnover ratio suggest potential fluctuations in sales, production levels, or inventory management practices within the company.

It is essential for Idacorp, Inc. to analyze the reasons behind these fluctuations to ensure optimal inventory management and operational efficiency. Monitoring inventory turnover ratios can help the company identify inefficiencies in its inventory management and make necessary adjustments to improve its overall performance.