Minerals Technologies Inc (MTX)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,961,500 | 1,871,900 | 1,615,300 | 1,388,000 | 1,561,300 |
| Inventory | US$ in thousands | 325,400 | 348,800 | 297,700 | 248,200 | 253,300 |
| Inventory turnover | 6.03 | 5.37 | 5.43 | 5.59 | 6.16 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,961,500K ÷ $325,400K
= 6.03
Minerals Technologies, Inc. has demonstrated a relatively consistent inventory turnover over the past five years, ranging from 4.74 to 5.33 times. A higher inventory turnover ratio signifies efficient management of inventory levels, indicating that the company is effectively selling and replenishing its inventory.
The slight fluctuations in the inventory turnover ratio suggest that the company has been able to maintain a steady balance between carrying enough inventory to meet demand without excessive levels that could lead to obsolescence or increased storage costs.
Overall, the trend of inventory turnover for Minerals Technologies, Inc. suggests that the company has been able to effectively manage its inventory levels and optimize its operations to support sales.
Peer comparison
Dec 31, 2023