Knife River Corporation (KNF)

Inventory turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023
Cost of revenue (ttm)	US$ in thousands	2,291,415
Inventory	US$ in thousands	319,623	314,711	374,377	373,215
Inventory turnover		7.17

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,291,415K ÷ $319,623K
= 7.17

The inventory turnover ratio for Knife River Corporation as of December 31, 2023, is 7.17, indicating that the company generated sales 7.17 times over the course of the year for every dollar invested in inventory. This ratio suggests that Knife River is efficiently managing its inventory levels by quickly turning over its inventory into sales. A higher inventory turnover ratio generally signifies better inventory management and liquidity for the company. However, it is essential to compare this ratio with industry averages and historical data to gain a more comprehensive understanding of the company's inventory management efficiency.