Ovintiv Inc (OVV)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 4,169,000 | 5,696,000 | 5,168,000 | 4,434,000 | 3,373,000 |
| Inventory | US$ in thousands | — | -55,000 | — | 9,000 | 23,000 |
| Inventory turnover | — | — | — | 492.67 | 146.65 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $4,169,000K ÷ $—K
= —
The inventory turnover ratio for Ovintiv Inc has shown a significant increase over the past few years. It stood at 146.65 times at December 31, 2020, and surged to 492.67 times at December 31, 2021. This remarkable increase indicates that the company is efficiently managing its inventory and converting it into sales multiple times within a given period.
However, the absence of data for the subsequent years (December 31, 2022, 2023, and 2024) raises some concerns regarding the continuous monitoring and reporting of this crucial ratio. Consistent and timely evaluation of the inventory turnover ratio is essential for assessing the company's operational efficiency and inventory management practices.
Overall, the notable improvement in the inventory turnover ratio reflects Ovintiv Inc's effectiveness in optimizing its inventory levels and generating revenue from its inventory investments. Continued attention to monitoring and reporting this ratio will be important for maintaining and enhancing the company's operational performance.
Peer comparison
Dec 31, 2024