Pitney Bowes Inc (PBI)

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	1,097,359	1,163,129	1,151,821	1,021,176	1,022,863	1,449,132	1,834,711	2,209,422	2,551,563	2,567,519	2,574,179	2,529,404	2,404,660	2,195,585	2,055,148	1,957,843	1,922,139	1,903,332	1,854,838	1,813,429
Inventory	US$ in thousands	70,053	83,781	92,783	94,016	83,720	89,946	82,797	87,661	78,588	69,496	67,538	63,680	71,480	66,974	73,653	71,848	68,251	76,339	73,347	68,876
Inventory turnover		15.66	13.88	12.41	10.86	12.22	16.11	22.16	25.20	32.47	36.94	38.11	39.72	33.64	32.78	27.90	27.25	28.16	24.93	25.29	26.33

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,097,359K ÷ $70,053K
= 15.66

The inventory turnover ratio for Pitney Bowes, Inc. has shown fluctuations over the past eight quarters. The ratio indicates how many times a company's inventory is sold and replaced in a given period. A higher inventory turnover generally suggests efficient management of inventory levels and effective sales strategies.

In Q4 2023, the inventory turnover ratio was 31.13, which was an increase compared to the previous quarter. This sharp increase may indicate that the company was able to sell and replace its inventory more quickly.

Despite the recent uptick, the inventory turnover ratio has varied over the quarters, with values ranging from 24.38 to 31.13. This indicates some volatility in how quickly the company is turning over its inventory.

Overall, Pitney Bowes, Inc. seems to be effectively managing its inventory levels, with the turnover ratios consistently above 24. However, analysts should continue to monitor the trend to assess the company's inventory management practices and sales efficiency.