JB Hunt Transport Services Inc (JBHT)

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	5,454,510	5,527,340	5,625,260	5,734,150	5,588,260	5,278,240	4,937,610	4,537,910	4,304,313	4,078,962	3,887,336	3,706,727	3,634,615	3,590,372	3,589,165	3,630,083	3,569,513	3,500,856	3,418,940	3,295,666
Inventory	US$ in thousands	42,186	0	0	0	40,602	—	—	—	25,032	—	—	—	23,804	—	—	21,106	21,106	—	—	—
Inventory turnover		129.30	—	—	—	137.64	—	—	—	171.95	—	—	—	152.69	—	—	171.99	169.12	—	—	—

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $5,454,510K ÷ $42,186K
= 129.30

Based on the data provided, the inventory turnover for J.B. Hunt Transport Services, Inc. in Q4 2023 was 17.81. This ratio indicates that the company's inventory was sold and replaced approximately 17.81 times during the quarter.

Comparing to the previous available data for Q4 2022, where the inventory turnover was 22.95, we observe a slight decrease in the efficiency of inventory management between the two periods. A lower inventory turnover may suggest that the company's inventory is not selling as quickly as before, which could indicate potential issues such as overstocking, slowing sales, or ineffective inventory management.

However, since data for the remaining quarters of 2023 is not provided, it is not possible to assess the trend for the full year or identify any seasonal variations in inventory turnover. Further analysis, including comparison to industry benchmarks and historical trends, would be needed to provide a more comprehensive evaluation of J.B. Hunt Transport Services, Inc.'s inventory turnover performance in the given period.