Middleby Corp (MIDD)
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 | 2,438,393 | 2,453,686 | 2,471,640 | 2,490,282 | 2,520,975 | 2,522,371 | 2,544,681 | 2,550,794 | 2,586,299 | 2,495,447 | 2,385,726 | 2,237,914 | 2,055,932 | 1,978,462 | 1,872,320 | 1,686,124 | 1,631,209 | 1,655,844 | 1,698,054 | 1,853,728 |
| Inventory | US$ in thousands | 841,567 | 905,865 | 920,096 | 943,679 | 935,867 | 1,015,050 | 1,082,520 | 1,116,360 | 1,077,730 | 1,062,630 | 1,008,920 | 924,763 | 837,418 | 686,043 | 608,570 | 574,277 | 540,198 | 557,512 | 608,484 | 623,822 |
| Inventory turnover | 2.90 | 2.71 | 2.69 | 2.64 | 2.69 | 2.48 | 2.35 | 2.28 | 2.40 | 2.35 | 2.36 | 2.42 | 2.46 | 2.88 | 3.08 | 2.94 | 3.02 | 2.97 | 2.79 | 2.97 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,438,393K ÷ $841,567K
= 2.90
Middleby Corp's inventory turnover ratio has fluctuated over the periods analyzed. The ratio indicates how many times the company's inventory was sold and replaced during a specified time frame. Generally, a higher inventory turnover ratio is favorable as it suggests efficient management of inventory.
From March 31, 2020, to June 30, 2022, there was a gradual decline in inventory turnover from 2.97 to 2.36, suggesting potential issues in managing inventory or a slowdown in sales. However, from June 30, 2022, to December 31, 2024, there was a slight increase in the ratio, reaching a peak of 2.90.
Overall, Middleby Corp's inventory turnover has exhibited some fluctuations but has remained within a relatively stable range. Further analysis would be needed to understand the specific reasons behind the changes in the inventory turnover ratio and assess the efficiency of the company's inventory management practices.
Peer comparison
Dec 31, 2024
Dec 31, 2024