Oceaneering International Inc (OII)

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	2,025,735	1,922,856	1,866,290	1,817,450	1,758,707	1,700,132	1,643,181	1,624,993	1,605,210	1,596,925	1,600,051	1,554,928	1,663,948	1,865,884	1,904,378	1,973,497	1,949,880	1,830,743	1,853,822	1,848,970
Inventory	US$ in thousands	209,798	208,200	208,827	197,610	184,375	167,762	169,245	162,261	153,682	128,869	129,133	130,612	141,241	148,527	160,447	166,360	174,744	198,749	206,671	203,010
Inventory turnover		9.66	9.24	8.94	9.20	9.54	10.13	9.71	10.01	10.45	12.39	12.39	11.90	11.78	12.56	11.87	11.86	11.16	9.21	8.97	9.11

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,025,735K ÷ $209,798K
= 9.66

Based on the provided data, Oceaneering International, Inc.'s inventory turnover has shown some fluctuations over the past eight quarters. The inventory turnover ratio measures the efficiency with which the company manages its inventory by indicating how many times the inventory is sold and replaced over a period.

The inventory turnover ratio for Oceaneering International, Inc. ranged from a low of 8.94 in Q2 2023 to a high of 10.13 in Q3 2022. A higher inventory turnover ratio generally indicates that the company is selling its products quickly and efficiently, while a lower ratio may suggest issues with overstocking, obsolete inventory, or declining sales.

Overall, Oceaneering International, Inc. has maintained a relatively stable inventory turnover ratio, hovering around 9-10 over the past eight quarters. This indicates a consistent level of efficiency in managing its inventory levels. However, management may need to closely monitor any downward trend in the ratio to ensure optimal inventory management practices and maintain profitability.