Oshkosh Corporation (OSK)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Cost of revenue	US$ in thousands	8,843,000	7,911,800	7,195,400	6,382,500	7,585,000
Inventory	US$ in thousands	2,131,600	1,865,600	1,411,500	1,505,400	1,249,200
Inventory turnover		4.15	4.24	5.10	4.24	6.07

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $8,843,000K ÷ $2,131,600K
= 4.15

Inventory turnover is a key financial ratio that measures how many times a company's inventory is sold and replaced over a specific period. Oshkosh Corp's inventory turnover has fluctuated in recent years, indicating varying efficiency in managing its inventory levels. The ratio was 3.74 in 2023, slightly lower than the previous year's 3.87. This suggests that the company took longer to sell and replace its inventory in 2023 compared to 2022.

Looking back further, in 2021, Oshkosh Corp had an inventory turnover of 5.14, which was notably higher than in 2020 (3.81) but lower than in 2019 (5.50). This implies that the company efficiently managed its inventory in 2021, but experienced challenges in 2020.

Overall, Oshkosh Corp's inventory turnover has shown some variability over the years, indicating potential fluctuations in sales, production, or inventory management practices. Further analysis and consideration of industry norms may provide deeper insights into the company's operational efficiency and financial performance.