Ovintiv Inc (OVV)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,276,000 | 1,247,000 | 1,108,000 | 6,704,000 | 1,400,000 |
| Inventory | US$ in thousands | — | — | 9,000 | 23,000 | 7,000 |
| Inventory turnover | — | — | 123.11 | 291.48 | 200.00 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,276,000K ÷ $—K
= —
To calculate the inventory turnover ratio for Ovintiv Inc, we need the following information:
1. Cost of Goods Sold (COGS): This figure represents the total cost incurred to produce or purchase the goods that were sold during the period.
2. Average Inventory: This is the average value of inventory held by the company during the period.
Once we have these figures, we can use the formula:
Inventory Turnover = COGS / Average Inventory
Unfortunately, without the specific data for Cost of Goods Sold and Average Inventory for each year, we are unable to calculate the inventory turnover ratio for Ovintiv Inc. It is a key metric that reflects how efficiently the company manages its inventory by showing how many times the inventory is sold and replaced during a specific period.
A high inventory turnover ratio indicates strong sales and efficient inventory management, while a low ratio may suggest overstocking or slow-moving inventory. Monitoring changes in the inventory turnover ratio over time can provide insights into the company's operational efficiency and inventory management practices.
Peer comparison
Dec 31, 2023