Magnolia Oil & Gas Corp (MGY)

Inventory turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Cost of revenue (ttm)	US$ in thousands	95,463	93,399	90,738	85,707	81,141	78,443	78,636	78,419	75,671	73,957	69,542	83,605	89,554	96,614	102,380	89,804	1,989,136	1,987,576	1,988,151	1,990,149
Inventory	US$ in thousands	—	-1,297	-178,183	-198,218	—	-187,282	-138,272	-151,571	-170,770	-207,718	-247,402	-179,652	615	-130,100	-119,241	-107,229	-81,559	-61,243	-60,525	863
Inventory turnover		—	—	—	—	—	—	—	—	—	—	—	—	145.62	—	—	—	—	—	—	2,306.08

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $95,463K ÷ $—K
= —

Based on the provided data, the inventory turnover ratio of Magnolia Oil & Gas Corp was 2,306.08 as of March 31, 2020. This implies that the company sold its entire inventory 2,306.08 times during that period. However, for subsequent periods including June 30, 2020, and thereafter up to December 31, 2024, the specific turnover ratios were not provided (indicated as "—").

The inventory turnover ratio of 145.62 as of December 31, 2021, suggests that Magnolia Oil & Gas Corp significantly improved its inventory management efficiency compared to the earlier period. A high inventory turnover ratio generally indicates that a company is able to sell its inventory quickly, which is typically a positive sign. However, without data for the subsequent periods, it is difficult to assess the trend in inventory turnover performance.

It is essential for Magnolia Oil & Gas Corp to consistently monitor and manage its inventory turnover ratio to ensure optimal efficiency in its operations. Fluctuations in the ratio can provide insights into the company's sales and inventory management strategies, highlighting areas that may require attention or improvement.