Murphy Oil Corporation (MUR)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	216,611	354,802	366,032	1,438,620	307,436
Inventory	US$ in thousands	54,454	54,513	54,198	66,076	76,123
Inventory turnover		3.98	6.51	6.75	21.77	4.04

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $216,611K ÷ $54,454K
= 3.98

The inventory turnover for Murphy Oil Corp. has fluctuated over the past five years. In 2023, the inventory turnover was 0.95, a decrease from the previous year's ratio of 3.16. The significant drop in inventory turnover from 2022 to 2023 may indicate that the company took longer to sell its inventory in 2023. Additionally, inventory turnover was reported as 0.00 for the years 2021, 2020, and 2019, which suggests potential issues with data availability or significant changes in inventory management practices during those years. Overall, the trend in inventory turnover for Murphy Oil Corp. highlights the importance of monitoring inventory levels and sales performance to ensure efficient operations and effective capital management.