O-I Glass Inc (OI)
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 | 6,148,000 | 6,172,000 | 6,226,000 | 6,173,000 | 6,186,000 | 6,120,000 | 6,062,000 | 5,978,000 | 5,830,000 | 5,756,000 | 5,771,000 | 5,711,000 | 5,763,000 | 5,851,000 | 5,935,000 | 6,097,000 | 6,143,000 | 6,622,000 | 6,497,000 | 6,333,000 |
| Inventory | US$ in thousands | 1,071,000 | 1,098,000 | 1,037,000 | 1,019,000 | 848,000 | 792,000 | 775,000 | 837,000 | 816,000 | 808,000 | 796,000 | 827,000 | 841,000 | 782,000 | 1,004,000 | 1,047,000 | 1,045,000 | 1,015,000 | 1,015,000 | 1,038,000 |
| Inventory turnover | 5.74 | 5.62 | 6.00 | 6.06 | 7.29 | 7.73 | 7.82 | 7.14 | 7.14 | 7.12 | 7.25 | 6.91 | 6.85 | 7.48 | 5.91 | 5.82 | 5.88 | 6.52 | 6.40 | 6.10 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $6,148,000K ÷ $1,071,000K
= 5.74
The inventory turnover of O-I Glass Inc has shown some fluctuations over the past few years. It ranged from a low of 5.74 in December 2023 to a high of 7.82 in June 2022. Overall, the company has maintained a relatively healthy inventory turnover ratio, indicating that it efficiently manages its inventory levels and converts goods into sales. A higher inventory turnover ratio typically suggests that the company is selling goods quickly and effectively. However, it is important to note that a very high turnover ratio may also indicate inventory shortages or lost sales opportunities. Overall, O-I Glass Inc's inventory turnover performance appears to be stable and efficient, reflecting its effective inventory management practices.