Liberty Oilfield Services Inc (LBRT)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 3,589,820 | 3,334,900 | 2,378,820 | 950,194 | 1,729,020 |
| Inventory | US$ in thousands | 205,865 | 214,454 | 134,593 | 118,568 | 88,547 |
| Inventory turnover | 17.44 | 15.55 | 17.67 | 8.01 | 19.53 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $3,589,820K ÷ $205,865K
= 17.44
Liberty Energy Inc's inventory turnover has fluctuated over the past five years. The company's inventory turnover ratio was 16.27 in 2023, indicating that it turned its inventory approximately 16.27 times during the year. This is an improvement from the previous year when the inventory turnover was 14.68.
In 2021, the inventory turnover ratio was 16.72, showing an efficient management of inventory. However, there was a significant drop in 2020 with a ratio of 7.24, which may suggest inventory management issues or changes in business operations during that period.
The highest inventory turnover was seen in 2019 at 18.31, suggesting a very efficient inventory management strategy. Overall, while there have been fluctuations, Liberty Energy Inc generally demonstrates efficient inventory turnover which is essential for managing working capital and optimizing operational efficiency.
Peer comparison
Dec 31, 2023