International Flavors & Fragrances Inc (IFF)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 7,360,000 | 7,798,000 | 8,289,000 | 7,921,000 | 2,998,370 |
| Inventory | US$ in thousands | 2,133,000 | 2,477,000 | 3,151,000 | 2,516,000 | 1,131,860 |
| Inventory turnover | 3.45 | 3.15 | 2.63 | 3.15 | 2.65 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $7,360,000K ÷ $2,133,000K
= 3.45
The inventory turnover ratio for International Flavors & Fragrances Inc has shown fluctuations over the past five years. It increased from 2.65 in December 31, 2020 to 3.15 in December 31, 2021, indicating an improvement in the company's efficiency in managing its inventory. However, the ratio dropped slightly to 2.63 in December 31, 2022 before again rising to 3.15 in December 31, 2023. This suggests that the company effectively turned over its inventory during these periods.
Notably, there was a significant increase in inventory turnover to 3.45 by December 31, 2024, reflecting a further enhancement in the company's ability to sell and replace its inventory within a specific time frame. Overall, the trend in inventory turnover for International Flavors & Fragrances Inc demonstrates a general positive movement, indicating efficient management of inventory levels to support the company's operations and financial performance.
Peer comparison
Dec 31, 2024