Meritage Corporation (MTH)

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	616,633	607,789	571,903	1,508,275	1,483,445	1,446,242	1,436,059	468,794	468,952	494,757	492,632	482,171	471,821	427,101	413,723	402,043	392,821	387,180	382,727	1,103,211
Inventory	US$ in thousands	4,721,290	4,501,360	4,348,600	4,355,180	4,358,260	4,726,260	4,474,060	4,027,950	3,734,410	3,593,010	3,251,790	2,975,120	2,778,040	2,741,020	2,733,430	2,789,790	2,744,360	2,853,930	2,735,880	2,744,580
Inventory turnover		0.13	0.14	0.13	0.35	0.34	0.31	0.32	0.12	0.13	0.14	0.15	0.16	0.17	0.16	0.15	0.14	0.14	0.14	0.14	0.40

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $616,633K ÷ $4,721,290K
= 0.13

I'm sorry, but I'll need the specific inventory balance figures for each quarter in order to calculate the inventory turnover ratio. Without this information, it is not possible to provide an analysis of the inventory turnover for Meritage Homes Corp.