Par Pacific Holdings Inc (PARR)

Inventory turnover

		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	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	6,977,590	6,742,640	6,196,090	6,415,370	6,468,060	6,043,250	5,495,800	4,880,730	4,415,885	3,986,473	3,470,522	2,713,562	3,102,357	3,599,909	4,281,970	5,092,370	3,815,068	2,592,988	1,325,603	72,506
Inventory	US$ in thousands	1,160,400	1,227,330	1,241,490	929,574	1,041,980	914,622	1,160,170	1,027,130	790,317	635,319	624,153	579,206	429,855	493,569	427,679	319,540	615,872	671,743	573,879	499,519
Inventory turnover		6.01	5.49	4.99	6.90	6.21	6.61	4.74	4.75	5.59	6.27	5.56	4.68	7.22	7.29	10.01	15.94	6.19	3.86	2.31	0.15

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $6,977,590K ÷ $1,160,400K
= 6.01

The inventory turnover ratio for Par Pacific Holdings Inc has been fluctuating over the past eight quarters. In Q4 2023, the inventory turnover ratio was 5.89, which indicates that the company converted its inventory into sales 5.89 times during the quarter. This was a slight increase compared to the previous quarter's ratio of 5.39.

Looking at the trend over the past two years, the company experienced relatively high inventory turnover in Q1 2023 with a ratio of 6.79, followed by a decrease in Q2 2023 to 4.90. However, the ratios in Q3 and Q4 of 2023 showed an upward trend, reaching 5.39 and 5.89, respectively.

Comparing the latest ratio with the same quarter a year ago, there was a slight improvement from Q4 2022's ratio of 6.12. Overall, the company has maintained a relatively consistent inventory turnover performance over the past eight quarters, indicating effective management of inventory levels and sales.