The Mosaic Company (MOS)
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 | 12,110,500 | 13,063,400 | 13,775,800 | 14,458,000 | 14,007,000 | 13,124,200 | 11,805,000 | 10,326,000 | 9,672,400 | 9,010,900 | 8,483,100 | 6,640,600 | 4,918,100 | 3,443,400 | 1,404,400 | 1,175,300 | 1,021,800 | 384,400 | 377,900 | 372,800 |
| Inventory | US$ in thousands | 2,523,200 | 2,453,200 | 3,148,700 | 3,320,000 | 3,543,100 | 3,781,200 | 3,640,900 | 3,326,500 | 2,741,400 | 2,273,600 | 2,194,400 | 1,860,700 | 1,739,200 | 1,681,300 | 1,954,000 | 1,930,900 | 2,076,400 | 2,294,300 | 2,713,900 | 2,572,100 |
| Inventory turnover | 4.80 | 5.33 | 4.38 | 4.35 | 3.95 | 3.47 | 3.24 | 3.10 | 3.53 | 3.96 | 3.87 | 3.57 | 2.83 | 2.05 | 0.72 | 0.61 | 0.49 | 0.17 | 0.14 | 0.14 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $12,110,500K ÷ $2,523,200K
= 4.80
The inventory turnover of Mosaic Company has shown a consistent improvement over the past eight quarters. In Q4 2023, the inventory turnover ratio was 4.55, indicating that the company is able to sell and replace its inventory approximately 4.55 times during the year. This represents an increase compared to the previous quarter, as well as the same period in the previous year.
The increasing trend in inventory turnover suggests that Mosaic Company is managing its inventory more efficiently, which could result in lower holding costs and higher liquidity. A higher inventory turnover ratio indicates that the company is selling its products quickly and effectively, which can lead to improved cash flow and profitability.
Overall, the upward trend in inventory turnover for Mosaic Company is a positive sign of effective inventory management and operational efficiency. It is important for investors and stakeholders to continue monitoring this metric to assess the company's performance and sustainability in the long term.
Peer comparison
Dec 31, 2023
Dec 31, 2023