Callaway Golf Company (MODG)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,114,400 | 1,045,700 | 882,499 | 1,738,030 | 1,616,010 |
| Inventory | US$ in thousands | 794,400 | 959,200 | 533,500 | 352,544 | 456,639 |
| Inventory turnover | 1.40 | 1.09 | 1.65 | 4.93 | 3.54 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,114,400K ÷ $794,400K
= 1.40
The inventory turnover ratio of Topgolf Callaway Brands Corp has fluctuated over the past five years, indicating varying efficiency in managing its inventory levels. In 2023, the company has an inventory turnover ratio of 2.05, which means that inventory is being turned over approximately 2.05 times during the year. This represents a slight improvement from the previous year.
Comparing to historical data, the inventory turnover ratio was lower in 2022 at 1.65, signifying that the company took longer to sell its inventory that year. However, in 2021 and 2020, the inventory turnover ratios were higher at 2.38 and 2.64 respectively, indicating that the company managed its inventory more efficiently during those years.
Overall, the fluctuation in inventory turnover ratios suggests that Topgolf Callaway Brands Corp may have experienced changes in demand, inventory management practices, or operational efficiency over the past five years. Further analysis is recommended to understand the specific factors influencing these fluctuations and to identify areas for improvement in inventory management.
Peer comparison
Dec 31, 2023