Mohawk Industries Inc (MHK)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 11,582,400 | 11,608,800 | 9,923,280 | 9,076,870 | 9,325,320 |
| Inventory | US$ in thousands | 2,551,850 | 2,793,760 | 2,391,670 | 1,913,020 | 2,282,330 |
| Inventory turnover | 4.54 | 4.16 | 4.15 | 4.74 | 4.09 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $11,582,400K ÷ $2,551,850K
= 4.54
The inventory turnover ratio for Mohawk Industries, Inc. has been relatively stable over the past five years, ranging from 3.15 to 3.72. This indicates that the company is efficiently managing its inventory by selling and restocking goods at a consistent pace. In 2020, the inventory turnover was at its highest at 3.72, suggesting that the company efficiently converted its inventory into sales during that year. However, there was a slight decrease in the inventory turnover in 2021 and 2022 before increasing again in 2023. Overall, the trend in the inventory turnover ratio shows that Mohawk Industries, Inc. has been effectively managing its inventory levels in recent years.
Peer comparison
Dec 31, 2023