Newmont Goldcorp Corp (NEM)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 12,133,000 | 8,807,000 | 8,653,000 | 7,758,000 | 7,314,000 |
| Inventory | US$ in thousands | 2,184,000 | 2,642,000 | 1,753,000 | 1,787,000 | 1,790,000 |
| Inventory turnover | 5.56 | 3.33 | 4.94 | 4.34 | 4.09 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $12,133,000K ÷ $2,184,000K
= 5.56
The inventory turnover ratio for Newmont Goldcorp Corp has shown fluctuations over the past five years. In 2020, the ratio was 4.09, indicating that the company turned over its inventory approximately 4.09 times during that year. By the end of 2021, this ratio increased to 4.34, suggesting a slight improvement in inventory management efficiency.
In 2022, the inventory turnover ratio further improved to 4.94, reaching its highest level in the period under review. This indicates that the company was able to sell and replace its inventory almost 5 times during the year. However, by the end of 2023, there was a significant decline in the ratio to 3.33, signifying a potential slowdown in inventory turnover efficiency.
The most recent data available for 2024 shows a notable increase in the inventory turnover ratio to 5.56, demonstrating a strong performance in managing inventory turnover. Overall, the trend in inventory turnover for Newmont Goldcorp Corp has been mixed, with fluctuations in efficiency levels over the years. It is important for the company to continue monitoring and optimizing its inventory management practices to ensure effective utilization of resources.