Performance Food Group Co (PFGC)
Inventory turnover
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 55,882,300 | 54,387,600 | 53,192,500 | 52,079,700 | 51,704,100 | 51,459,000 | 51,429,600 | 51,131,300 | 50,999,800 | 50,903,200 | 50,377,200 | 49,537,900 | 45,637,700 | 40,775,900 | 35,412,300 | 29,886,400 | 26,873,700 | 23,770,100 | 23,593,500 | 22,916,800 |
| Inventory | US$ in thousands | 3,887,700 | 3,716,600 | 3,928,000 | 3,677,800 | 3,314,700 | 3,107,000 | 3,342,100 | 3,519,700 | 3,390,000 | 3,247,300 | 3,344,300 | 3,335,000 | 3,428,600 | 3,085,300 | 3,190,900 | 2,864,000 | 1,839,400 | 1,541,800 | 1,477,700 | 1,523,900 |
| Inventory turnover | 14.37 | 14.63 | 13.54 | 14.16 | 15.60 | 16.56 | 15.39 | 14.53 | 15.04 | 15.68 | 15.06 | 14.85 | 13.31 | 13.22 | 11.10 | 10.44 | 14.61 | 15.42 | 15.97 | 15.04 |
June 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $55,882,300K ÷ $3,887,700K
= 14.37
The inventory turnover ratio of Performance Food Group Co over the recorded period demonstrates notable fluctuations that reflect the company's efficiency in managing inventory levels relative to sales. Starting at a ratio of 15.04 times as of September 30, 2020, the ratio increased marginally to 15.97 by the end of 2020, indicating a slight improvement in inventory management. During the first quarter of 2021, the ratio remained steady at 15.42, but saw a decline to 14.61 by June 30, 2021.
A significant change occurred between September 30, 2021, and December 31, 2021, when the ratio dropped sharply to 10.44 and moderately recovered to 11.10 in the first quarter of 2022. The ratio continued to gradually increase in subsequent quarters, reaching 13.22 by March 31, 2022, and marginally improving to 13.31 by June 30, 2022. The upward trend persisted into late 2022, with ratios of 14.85 and 15.06 on September 30 and December 31, 2022, respectively.
The ratio further increased to 15.68 in the first quarter of 2023, before slightly declining to 15.04 in June 2023. It then experienced a small dip to 14.53 on September 30, 2023, before a modest recovery to 15.39 in year-end 2023. In the first quarter of 2024, the ratio rose to 16.56, indicating an improvement in inventory turnover efficiency, although it declined again to 15.60 in June 2024. By September 30, 2024, the ratio decreased further to 14.16 but rebounded to 13.54 at the end of 2024.
The ratios for early 2025 show continued fluctuation, with values of 14.63 in March and 14.37 in June, both higher than the lows observed in late 2024. Overall, the inventory turnover ratio has generally remained within a range of approximately 10 to 16, with periods of decline likely reflecting inventory buildup or reduced sales velocity, and periods of increase suggesting more efficient inventory management. The recent trend indicates relatively stable inventory management with a slight upward momentum in early 2024, aligning with potentially improved sales activity or inventory control practices.
Peer comparison
Jun 30, 2025
Jun 30, 2025