Packaging Corp of America (PKG)

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	6,696,100	6,692,000	6,771,800	6,918,400	6,984,000	6,984,900	6,864,700	6,635,500	6,418,700	6,203,100	6,058,500	5,892,800	5,838,000	5,874,600	5,878,500	5,949,500	5,916,400	5,876,900	5,899,800	5,906,700
Inventory	US$ in thousands	1,013,100	986,100	992,200	1,003,400	977,300	994,900	954,200	941,200	902,500	880,100	827,200	799,600	787,900	777,600	834,500	809,900	794,100	806,300	815,700	831,700
Inventory turnover		6.61	6.79	6.83	6.89	7.15	7.02	7.19	7.05	7.11	7.05	7.32	7.37	7.41	7.55	7.04	7.35	7.45	7.29	7.23	7.10

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $6,696,100K ÷ $1,013,100K
= 6.61

Packaging Corp Of America's inventory turnover has been relatively stable over the past eight quarters, with values ranging between 6.02 and 6.58. The highest inventory turnover was observed in Q2 2022 at 6.58, while the lowest was in Q4 2023 at 6.02. This indicates that the company is efficiently managing its inventory levels and is able to convert its inventory into sales multiple times within a given period. Overall, the trend suggests consistent and effective inventory management practices at Packaging Corp Of America.

Peer comparison

Dec 31, 2023

Company name

Symbol

Inventory turnover

Packaging Corp of America

PKG

6.61

Graphic Packaging Holding Company

Sonoco Products Company

SON

7.75