Penske Automotive Group Inc (PAG)
Inventory turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 25,518,300 | 25,180,800 | 25,060,600 | 24,784,900 | 24,631,200 | 24,338,200 | 23,844,600 | 23,319,000 | 22,976,000 | 22,264,300 | 21,862,100 | 21,997,000 | 21,113,900 | 20,910,700 | 20,594,200 | 17,887,600 | 17,259,400 | 17,360,600 | 17,443,400 | 19,233,200 |
| Inventory | US$ in thousands | 4,640,200 | 4,822,400 | 4,705,900 | 4,424,100 | 4,293,100 | 3,700,200 | 3,881,300 | 3,630,400 | 3,509,100 | 3,146,900 | 3,055,200 | 3,120,000 | 3,129,000 | 2,598,400 | 2,936,900 | 3,277,800 | 3,425,600 | 3,209,700 | 3,425,900 | 4,262,700 |
| Inventory turnover | 5.50 | 5.22 | 5.33 | 5.60 | 5.74 | 6.58 | 6.14 | 6.42 | 6.55 | 7.07 | 7.16 | 7.05 | 6.75 | 8.05 | 7.01 | 5.46 | 5.04 | 5.41 | 5.09 | 4.51 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $25,518,300K ÷ $4,640,200K
= 5.50
The inventory turnover for Penske Automotive Group Inc has shown a generally increasing trend over the past few years, indicating that the company is managing its inventory more efficiently.
Starting at 4.51 times turnover on March 31, 2020, the ratio has consistently improved to reach its peak of 8.05 times turnover on September 30, 2021. This means that, on average, the company's inventory was sold and replaced over 8 times during that period, reflecting a high level of sales relative to the amount of inventory held.
Subsequently, the inventory turnover ratio dipped slightly to 5.74 times by December 31, 2023, before stabilizing around the range of 5.50 to 6.58 times turnover from December 31, 2024, to September 30, 2024.
Overall, the increasing trend and relatively high turnover ratios suggest that Penske Automotive Group Inc has been effectively managing its inventory levels and turning over its inventory efficiently, which is a positive sign of operational effectiveness and sales performance.
Peer comparison
Dec 31, 2024
Dec 31, 2024