LyondellBasell Industries NV (LYB)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 35,849,000 | 43,847,000 | 37,397,000 | 24,359,000 | 29,301,000 |
| Inventory | US$ in thousands | 4,765,000 | 4,804,000 | 4,901,000 | 4,344,000 | 4,588,000 |
| Inventory turnover | 7.52 | 9.13 | 7.63 | 5.61 | 6.39 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $35,849,000K ÷ $4,765,000K
= 7.52
The inventory turnover ratio for LyondellBasell Industries NV has shown fluctuations over the past five years. The company's efficiency in managing its inventory levels has varied, as indicated by the turnover ratio figures.
In 2023, the inventory turnover ratio was 7.52, reflecting a decrease from the previous year's ratio of 9.13. This decline suggests that the company took longer to sell its inventory during the year compared to 2022.
Looking further back, the inventory turnover ratio in 2021 was 7.63, slightly higher than in 2023 but lower than in 2022. In 2020, the ratio was 5.61, indicating a significant improvement in inventory management efficiency compared to 2021.
In 2019, the inventory turnover ratio stood at 6.39, falling between the ratios observed in the subsequent years. This variability in the inventory turnover ratio could be attributed to factors such as changes in demand, production inefficiencies, or supply chain disruptions affecting inventory levels.
Overall, the trend in the inventory turnover ratio for LyondellBasell Industries NV demonstrates fluctuations in the company's ability to efficiently convert its inventory into sales over the past five years. Further analysis and investigation into the underlying factors influencing inventory management performance would be necessary to fully understand the dynamics at play.
Peer comparison
Dec 31, 2023