Phibro Animal Health Corporation (PAHC)
Inventory turnover
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 | Dec 31, 2019 | Sep 30, 2019 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cost of revenue (ttm) | US$ in thousands | 985,065 | 943,779 | 927,921 | 929,017 | 915,738 | 923,709 | 861,835 | 786,064 | 714,815 | 630,470 | 605,041 | 580,885 | 561,973 | 536,842 | 535,466 | 542,490 | 543,472 | 556,733 | 556,409 | 561,080 |
Inventory | US$ in thousands | 265,911 | 282,289 | 286,680 | 279,154 | 277,570 | 292,833 | 288,984 | 280,842 | 259,158 | 249,911 | 230,784 | 221,313 | 216,312 | 206,258 | 213,331 | 205,846 | 196,659 | 177,287 | 193,509 | 203,873 |
Inventory turnover | 3.70 | 3.34 | 3.24 | 3.33 | 3.30 | 3.15 | 2.98 | 2.80 | 2.76 | 2.52 | 2.62 | 2.62 | 2.60 | 2.60 | 2.51 | 2.64 | 2.76 | 3.14 | 2.88 | 2.75 |
June 30, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $985,065K ÷ $265,911K
= 3.70
Inventory turnover is a key financial ratio that measures how efficiently a company is managing its inventory. A higher inventory turnover ratio indicates that a company is selling its inventory quickly and efficiently.
In the case of Phibro Animal Health Corporation, the inventory turnover ratio has fluctuated over the past few quarters, ranging from 2.51 to 3.70. The overall trend shows some variability but remains relatively stable over the periods analyzed.
The average inventory turnover ratio for Phibro Animal Health Corporation during this period is approximately 2.86, which means that on average, the company is able to sell and replace its inventory approximately 2.86 times within a year.
A closer look at the data reveals that there has been a gradual improvement in the inventory turnover ratio in recent quarters, indicating that the company may be managing its inventory more efficiently. However, it is important to continue monitoring this ratio to ensure sustained improvement in inventory management practices.
Overall, a consistent and moderately increasing trend in inventory turnover ratio suggests that Phibro Animal Health Corporation is effectively managing its inventory levels and turning them into sales at a reasonable pace.
Peer comparison
Jun 30, 2024
Jun 30, 2024