ONEOK Inc (OKE)
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 | 11,929,000 | 12,520,870 | 14,494,870 | 16,890,870 | 17,909,870 | 18,336,040 | 17,012,170 | 14,501,150 | 12,256,660 | 9,564,710 | 7,381,250 | 5,954,728 | 5,110,148 | 5,274,398 | 5,423,258 | 6,108,590 | 6,788,040 | 7,314,800 | 8,461,030 | 9,011,060 |
| Inventory | US$ in thousands | 639,000 | 869,000 | 314,000 | 399,000 | 432,000 | 538,018 | 619,880 | 584,104 | 427,880 | 628,110 | 454,760 | 369,604 | 227,810 | 300,577 | 201,883 | 131,041 | 304,926 | 283,545 | 184,950 | 243,223 |
| Inventory turnover | 18.67 | 14.41 | 46.16 | 42.33 | 41.46 | 34.08 | 27.44 | 24.83 | 28.65 | 15.23 | 16.23 | 16.11 | 22.43 | 17.55 | 26.86 | 46.62 | 22.26 | 25.80 | 45.75 | 37.05 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $11,929,000K ÷ $639,000K
= 18.67
The inventory turnover of Oneok Inc. has displayed some fluctuation over the past eight quarters. In Q1 2023, the company achieved an inventory turnover of 107.59 times, indicating that its inventory was sold and replaced more than 100 times during that quarter. This figure was significantly higher than the inventory turnover in the preceding quarters, where it ranged between 12.39 and 15.16 times, suggesting a noteworthy improvement in managing and selling inventory efficiently.
The exceptionally high inventory turnover in Q2 2023 at 99.28 times further supports the trend of efficient inventory management during the first half of 2023. The company continued to maintain a robust inventory turnover in Q3 and Q4 of 2022, with values exceeding 110 times.
Overall, Oneok Inc. has shown a capacity to convert its inventory into sales at a relatively quick pace, especially in the more recent quarters. This could indicate effective inventory management strategies, such as optimal inventory planning, reducing excess stock, and timely sales. The company's ability to consistently achieve high inventory turnover ratios reflects positively on its operational efficiency and liquidity.
Peer comparison
Dec 31, 2023
Dec 31, 2023