Monster Beverage Corp (MNST)

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	4,056,883	3,882,343	3,796,696	3,786,402	3,725,232	3,609,102	3,435,738	3,183,309	2,970,590	2,749,483	2,645,254	2,456,349	2,356,583	2,302,398	2,248,337	2,256,180	2,198,390	2,257,690	2,203,344	2,153,903
Inventory	US$ in thousands	971,406	883,582	846,812	906,723	935,631	862,977	885,948	821,132	593,357	471,553	382,890	368,402	333,085	318,956	340,536	352,305	360,731	317,745	299,529	300,780
Inventory turnover		4.18	4.39	4.48	4.18	3.98	4.18	3.88	3.88	5.01	5.83	6.91	6.67	7.08	7.22	6.60	6.40	6.09	7.11	7.36	7.16

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $4,056,883K ÷ $971,406K
= 4.18

Monster Beverage Corp.'s inventory turnover has shown consistency in the range of 3.22 to 3.78 over the past eight quarters. Generally, a higher inventory turnover ratio indicates that the company is efficiently managing its inventory levels and quickly converting its inventory into sales. However, it's essential to note that there has been a slight fluctuation in the company's inventory turnover over the quarters, which may indicate variations in demand, production, or supply chain efficiency. Overall, Monster Beverage Corp. seems to be effectively managing its inventory turnover, albeit with some minor fluctuations.