IDACORP Inc (IDA)

Inventory turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	1,453,526	1,472,776	1,526,421	1,503,958	1,449,516	1,440,388	1,445,875	1,391,622	1,313,870	1,258,263	1,182,067	1,172,644	1,144,176	1,123,045	1,100,710	1,063,218	1,038,561	980,368	951,765	956,750
Inventory	US$ in thousands	244,720	219,566	200,022	180,274	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
Inventory turnover		5.94	6.71	7.63	8.34	9.03	9.44	10.50	11.52	12.25	13.69	12.48	11.68	11.97	10.88	10.21	10.90	10.75	9.46	8.37	8.03

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,453,526K ÷ $244,720K
= 5.94

IDACORP Inc's inventory turnover has shown a generally increasing trend over the past few years, indicating efficient management of its inventory levels. The inventory turnover ratio started at 8.03 on March 31, 2020, and steadily climbed to 13.69 by September 30, 2022. This suggests that the company is selling and replenishing its inventory at a faster rate.

However, there was a slight dip in the inventory turnover ratio to 5.94 on December 31, 2024, which may be a cause for concern as it could indicate slower inventory turnover. The company might want to investigate the reasons behind this decrease and take corrective actions if necessary to maintain healthy inventory turnover levels.

Overall, the increasing trend in inventory turnover ratios from 2020 to 2022 signals effective inventory management practices at IDACORP Inc. However, the recent decline should be monitored closely to ensure optimal inventory control and efficient operations.