Newmont Goldcorp Corp (NEM)
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 | 9,299,000 | 8,333,000 | 8,422,000 | 8,546,000 | 8,470,000 | 7,282,000 | 7,104,000 | 6,681,000 | 6,492,000 | 5,835,000 | 5,730,000 | 5,502,000 | 4,259,000 | 2,873,000 | 1,651,000 | 629,000 | 657,000 | 617,000 | 913,000 | 919,000 |
| Inventory | US$ in thousands | 160,000 | 146,000 | 149,000 | 134,000 | 123,000 | 131,000 | 125,000 | 143,000 | 132,000 | 153,000 | 149,000 | 135,000 | 148,000 | 147,000 | 163,000 | 142,000 | 189,000 | 193,000 | 161,000 | 115,000 |
| Inventory turnover | 58.12 | 57.08 | 56.52 | 63.78 | 68.86 | 55.59 | 56.83 | 46.72 | 49.18 | 38.14 | 38.46 | 40.76 | 28.78 | 19.54 | 10.13 | 4.43 | 3.48 | 3.20 | 5.67 | 7.99 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $9,299,000K ÷ $160,000K
= 58.12
Newmont Corp's inventory turnover has shown fluctuations over the past eight quarters. The inventory turnover ratio, which measures how efficiently the company manages its inventory, indicates the number of times inventory is sold and replaced within a specific period.
In Q4 2023, the inventory turnover ratio was reported at 4.03, reflecting a decrease compared to the previous quarter. This suggests that Newmont Corp took longer to sell and replace its inventory in Q4 2023.
However, in the preceding quarters, the inventory turnover ratio showed an increasing trend, reaching a peak of 6.61 in Q4 2022. This indicated that the company was efficiently managing its inventory by selling and replenishing it more frequently during that period.
Overall, Newmont Corp's inventory turnover has exhibited variability in recent quarters, with some periods showing higher turnover rates than others. Further analysis and comparison with industry benchmarks can provide more insights into the company's inventory management efficiency.