Nabors Industries Ltd (NBR)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,034,530 | 1,894,440 | 1,500,460 | 1,672,550 | 2,435,330 |
| Inventory | US$ in thousands | 147,798 | 127,947 | 126,448 | 160,585 | 176,341 |
| Inventory turnover | 13.77 | 14.81 | 11.87 | 10.42 | 13.81 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $2,034,530K ÷ $147,798K
= 13.77
The inventory turnover ratio of Nabors Industries Ltd has fluctuated over the past five years, indicating varying levels of efficiency in managing its inventory.
In 2023, the company achieved an inventory turnover of 12.11 times, which signifies that the company sold and replaced its inventory approximately 12.11 times during the year. This is a decrease from the previous year's ratio of 13.02, suggesting that the company took slightly longer to sell its inventory in 2023.
Compared to 2021, the inventory turnover ratio in 2023 improved, indicating that the company was more efficient in managing its inventory. However, the ratio in 2023 is still higher than in 2020 and 2019, indicating a positive trend in the company's inventory management efficiency over the past five years.
Overall, the inventory turnover ratio of Nabors Industries Ltd has shown fluctuations but generally demonstrates that the company has been effective in managing its inventory levels and turning them into sales, with a higher ratio generally indicating better efficiency in inventory management.
Peer comparison
Dec 31, 2023