John Bean Technologies Corporation (JBT)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 467,100 | 1,911,000 | 1,648,700 | 1,504,300 | 1,347,600 |
| Inventory | US$ in thousands | 238,900 | 264,000 | 229,100 | 197,300 | 245,000 |
| Inventory turnover | 1.96 | 7.24 | 7.20 | 7.62 | 5.50 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $467,100K ÷ $238,900K
= 1.96
The inventory turnover for John Bean Technologies Corp has been fluctuating over the past five years. In 2023, the inventory turnover ratio decreased to 4.52 from 4.80 in 2022, indicating that the company took longer to sell its inventory in 2023 compared to the previous year. However, despite the decrease in 2023, the company's inventory turnover ratio remains relatively healthy, showing that it is efficient in managing its inventory levels and converting them into sales. Over the five-year period, the inventory turnover ratio has ranged from 4.52 to 6.05, with the highest ratio recorded in 2020. This indicates that the company was able to sell its inventory more quickly in 2020 than in any other year during the period analyzed. Overall, the trend in inventory turnover for John Bean Technologies Corp demonstrates variations in the efficiency of inventory management over the years, with some years showing better performance than others.
Peer comparison
Dec 31, 2023