KAR Auction Services Inc (KAR)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	1,688,400	1,375,700	2,000,600	2,041,100	2,452,000
Inventory	US$ in thousands	0	15,500	25,800	60,200	53,300
Inventory turnover		—	88.75	77.54	33.91	46.00

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $1,688,400K ÷ $0K
= —

To calculate the inventory turnover for Openlane Inc., we would need to obtain the relevant data on cost of goods sold and average inventory for each fiscal year. Unfortunately, as the table provided lacks this information, we are currently unable to compute the inventory turnover.

Inventory turnover is a crucial financial ratio that indicates how efficiently a company manages its inventory levels. A higher inventory turnover ratio implies that the company is selling its inventory quickly, reducing the risk of obsolete inventory or storage costs. On the other hand, a lower inventory turnover ratio may suggest overstocking or slow-moving inventory, which could tie up capital and lead to potential losses.

Without the specific figures for cost of goods sold and average inventory, it is not possible to analyze Openlane Inc.'s inventory turnover trend over the years. However, tracking this ratio over time can provide valuable insights into the company's operational efficiency, inventory management practices, and overall financial health.