MYR Group Inc (MYRG)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 3,071,970 | 3,279,510 | 2,664,580 | 2,173,310 | 1,971,540 |
| Inventory | US$ in thousands | — | — | — | 44,677 | 0 |
| Inventory turnover | — | — | — | 48.64 | — |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $3,071,970K ÷ $—K
= —
The inventory turnover ratio for MYR Group Inc provides insight into how efficiently the company manages its inventory. Based on the available data, the inventory turnover ratio was 48.64 at December 31, 2021. This indicates that during the year ending December 31, 2021, the company sold and replaced its inventory approximately 48.64 times.
A high inventory turnover ratio like this suggests that MYR Group Inc is effectively managing its inventory levels, efficiently selling its products, and restocking inventory as needed. This high turnover rate often signifies strong sales, effective inventory management practices, and minimal excess or obsolete inventory.
However, the lack of data for the other years limits the ability to analyze the trend in inventory turnover over time. It would be beneficial to have additional data points to assess the consistency and direction of MYR Group Inc's inventory turnover performance.
Peer comparison
Dec 31, 2024