Nabors Industries Ltd (NBR)
Inventory turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 2,034,527 | 2,068,970 | 2,048,942 | 1,992,143 | 1,894,435 | 1,779,880 | 1,679,410 | 1,581,492 | 1,500,455 | 1,256,945 | 1,184,420 | 1,193,175 | 1,626,257 | 2,115,331 | 2,431,059 | 2,718,206 | 2,528,934 | 2,523,237 | 2,454,606 | 2,356,456 |
| Inventory | US$ in thousands | 147,798 | 146,254 | 152,236 | 144,223 | 127,947 | 129,116 | 120,614 | 132,126 | 126,448 | 136,992 | 147,362 | 154,272 | 160,585 | 164,029 | 166,537 | 173,991 | 176,341 | 186,124 | 178,367 | 166,139 |
| Inventory turnover | 13.77 | 14.15 | 13.46 | 13.81 | 14.81 | 13.79 | 13.92 | 11.97 | 11.87 | 9.18 | 8.04 | 7.73 | 10.13 | 12.90 | 14.60 | 15.62 | 14.34 | 13.56 | 13.76 | 14.18 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,034,527K ÷ $147,798K
= 13.77
Inventory turnover is an important financial ratio that provides insights into how efficiently a company is managing its inventory. It indicates the number of times a company sells and replaces its inventory within a specific period.
In the case of Nabors Industries Ltd, the inventory turnover ratio has fluctuated over the past eight quarters. The company experienced a peak of 13.02 in Q4 2022, indicating that inventory was turned over 13.02 times during that quarter. However, the ratio decreased to 10.36 in Q1 2022, reflecting a decrease in the efficiency of inventory management.
In the most recent quarter, Q4 2023, the inventory turnover ratio was 12.11, which suggests that the company continues to efficiently manage its inventory. Overall, despite some fluctuations, Nabors Industries Ltd has maintained a relatively stable inventory turnover ratio over the analyzed period.
Peer comparison
Dec 31, 2023
Dec 31, 2023