MYR Group Inc (MYRG)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 3,520,810 | 2,897,140 | 2,382,820 | 2,164,540 | 2,018,340 |
| Inventory | US$ in thousands | — | — | 44,677 | 0 | 0 |
| Inventory turnover | — | — | 53.33 | — | — |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $3,520,810K ÷ $—K
= —
To calculate MYR Group Inc's inventory turnover for each year based on the provided data, we need the Cost of Goods Sold (COGS) and the average inventory. The formula for inventory turnover is:
\[Inventory\ Turnover = \dfrac{Cost\ of\ Goods\ Sold}{Average\ Inventory}\]
Without the specific values for COGS and inventory for each year, it is not possible to compute the exact inventory turnover ratio. However, generally, a higher inventory turnover signifies that the company is selling its inventory more frequently, which is considered favorable as it indicates efficient inventory management. Conversely, a lower inventory turnover may indicate overstocking or slow-moving inventory.
Further analysis would require obtaining COGS and inventory figures for MYR Group Inc for each year to assess the trend in inventory turnover and evaluate the company's management of inventory levels.
Peer comparison
Dec 31, 2023