Nextracker Inc. Class A Common Stock (NXT)

Inventory turnover

		Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Cost of revenue	US$ in thousands	1,950,370	1,686,790	1,615,160	1,310,560	963,636
Inventory	US$ in thousands	209,432	201,736	138,057	172,208	84,472
Inventory turnover		9.31	8.36	11.70	7.61	11.41

March 31, 2025 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $1,950,370K ÷ $209,432K
= 9.31

The inventory turnover ratio measures how efficiently a company manages its inventory by calculating the number of times the inventory is sold or used up during a specific period. Looking at the data for Nextracker Inc. Class A Common Stock:

- As of March 31, 2021, the inventory turnover was 11.41, indicating that the company turned over its inventory approximately 11.41 times during that fiscal year.
- By March 31, 2022, the inventory turnover decreased to 7.61, suggesting a decrease in the rate at which the company was selling or using its inventory.
- However, the trend reversed in the following years, with the inventory turnover increasing to 11.70 as of March 31, 2023, and remaining relatively stable at 8.36 by March 31, 2024.
- As of the most recent data available on March 31, 2025, the inventory turnover improved to 9.31, indicating better inventory management compared to the previous year.

Overall, fluctuations in the inventory turnover ratio can signify changes in sales volumes, production efficiency, or inventory management strategies within Nextracker Inc. Class A Common Stock. It would be important to further investigate the reasons behind these fluctuations to assess the company's operational efficiency and financial health.