Marathon Oil Corporation (MRO)

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	325,000	328,000	337,000	334,000	310,000	443,000	450,000	500,000	528,000	884,000	861,000	827,000	1,019,000	564,000	584,000	606,000	657,000	1,613,000	1,650,000	1,891,000
Inventory	US$ in thousands	186,000	174,000	136,000	136,000	125,000	103,000	93,000	78,000	77,000	77,000	78,000	78,000	76,000	77,000	77,000	78,000	72,000	71,000	72,000	83,000
Inventory turnover		1.75	1.89	2.48	2.46	2.48	4.30	4.84	6.41	6.86	11.48	11.04	10.60	13.41	7.32	7.58	7.77	9.12	22.72	22.92	22.78

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $325,000K ÷ $186,000K
= 1.75

The inventory turnover for Marathon Oil Corporation has shown variability over the past eight quarters. The highest inventory turnover ratio was observed in Q2 2022 at 7.24, indicating that the company sold and replenished its inventory 7.24 times during that quarter. Conversely, the lowest ratio of 4.45 was recorded in Q4 2023. Overall, the trend demonstrates fluctuations in the efficiency of managing inventory levels and sales, with Q2 2023 also displaying a notably high turnover ratio of 5.80. Further analysis and comparisons with industry benchmarks would be beneficial to fully assess the effectiveness of Marathon Oil Corporation's inventory management practices.