One Gas Inc (OGS)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	1,179,430	1,479,790	13,700	11,600	5,105
Inventory	US$ in thousands	187,097	269,205	179,646	93,946	104,259
Inventory turnover		6.30	5.50	0.08	0.12	0.05

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $1,179,430K ÷ $187,097K
= 6.30

The inventory turnover ratio for ONE Gas Inc has shown some variation over the past five years. In 2023 and 2022, the company maintained a consistent inventory turnover ratio of 4.29, indicating that it turned over its inventory approximately 4.29 times during those years.

In 2021, the inventory turnover ratio decreased to 3.30, suggesting that the company took longer to sell its inventory compared to the previous years. However, this ratio improved in 2022 and 2023, potentially showing better inventory management efficiency.

Overall, despite some fluctuations, ONE Gas Inc has generally maintained a healthy inventory turnover ratio above 3. This implies that the company effectively manages its inventory to generate sales and minimize holding costs, which is a positive sign for its operational efficiency.