Magnolia Oil & Gas Corp (MGY)

Inventory turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	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	88,512	94,751	105,440	82,901
Inventory	US$ in thousands	—	-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	-105,775	2,055	-126,940	12,858
Inventory turnover		—	—	—	—	—	—	—	—	145.62	—	—	—	—	—	—	2,306.08	—	46.11	—	6.45

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $81,141K ÷ $—K
= —

The inventory turnover ratio for Magnolia Oil & Gas Corp has shown fluctuations over the past few quarters, indicating varying efficiency in managing inventory. In particular, there were significant spikes in inventory turnover on March 31, 2020, and December 31, 2021, suggesting that the company was able to sell its inventory much faster during those periods. On the other hand, the ratio was relatively low on September 30, 2019, and March 31, 2022, indicating that inventory turnover was slower during those quarters. Overall, the company's inventory turnover performance has been inconsistent, and further analysis is needed to understand the factors driving these fluctuations and to assess the effectiveness of the company's inventory management strategies.