Johnson Controls International PLC (JCI)
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 | 18,504,000 | 18,704,000 | 24,982,000 | 24,840,000 | 24,613,000 | 24,174,000 | 23,549,000 | 23,065,000 | 22,138,000 | 21,642,000 | 21,441,000 | 21,291,000 | 21,448,000 | 21,898,000 | 22,711,000 | 23,142,000 | 23,318,000 | 23,131,000 | 24,330,000 | 25,582,000 |
| Inventory | US$ in thousands | 3,006,000 | 2,776,000 | 3,092,000 | 3,048,000 | 2,895,000 | 2,665,000 | 2,574,000 | 2,515,000 | 2,425,000 | 2,057,000 | 2,064,000 | 1,994,000 | 1,913,000 | 1,773,000 | 1,996,000 | 2,030,000 | 1,953,000 | 1,814,000 | 2,050,000 | 2,124,000 |
| Inventory turnover | 6.16 | 6.74 | 8.08 | 8.15 | 8.50 | 9.07 | 9.15 | 9.17 | 9.13 | 10.52 | 10.39 | 10.68 | 11.21 | 12.35 | 11.38 | 11.40 | 11.94 | 12.75 | 11.87 | 12.04 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $18,504,000K ÷ $3,006,000K
= 6.16
The inventory turnover ratio for Johnson Controls International plc has fluctuated over the past eight quarters. The ratio peaked at 6.76 in the third quarter of 2022 before declining to 5.66 in the first quarter of 2023. It then showed a slight increase to 5.68 in the second quarter of 2023, followed by a further increase to 6.42 in the third quarter of 2023.
Overall, the company's inventory turnover has exhibited some volatility, but it has generally remained within a relatively narrow range. This suggests that Johnson Controls has been efficient in managing its inventory, with a consistent ability to turn over its inventory into sales. However, the recent increase in the ratio from the second to the third quarter of 2023 may indicate an improvement in inventory management efficiency. It would be important to monitor this ratio in future periods to assess the trend and its impact on the company's overall operational performance.
Peer comparison
Dec 31, 2023
Dec 31, 2023
See also:
Johnson Controls International PLC Inventory Turnover (Quarterly Data)