International Seaways Inc (INSW)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 324,010 | 444,237 | 394,149 | 310,351 | 252,473 |
| Inventory | US$ in thousands | 1,875 | 1,329 | 531 | 2,110 | 3,601 |
| Inventory turnover | 172.81 | 334.26 | 742.28 | 147.09 | 70.11 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $324,010K ÷ $1,875K
= 172.81
The inventory turnover of International Seaways Inc has shown a significant increase over the years, reflecting the company's efficiency in managing its inventory. The ratio has improved from 70.11 in December 31, 2020, to 147.09 in December 31, 2021, indicating that the company is selling its inventory more frequently within a year.
The inventory turnover further surged to 742.28 by December 31, 2022, which suggests a remarkable improvement in the utilization of inventory. However, there was a decrease in the ratio to 334.26 by December 31, 2023, indicating a potential change in inventory management strategy or external factors impacting sales.
By December 31, 2024, the inventory turnover settled at 172.81, still significantly higher than the initial ratio in 2020. This demonstrates that, overall, International Seaways Inc has been able to efficiently convert its inventory into sales during the period under review. Further analysis and comparison with industry averages can provide additional insights into the company's inventory management effectiveness.
Peer comparison
Dec 31, 2024