ePlus inc (PLUS)
Inventory turnover
| 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 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,674,509 | 1,610,245 | 1,720,104 | 1,637,260 | 1,550,194 | 1,526,510 | 1,419,123 | 1,393,736 | 1,360,037 | 1,278,592 | 1,230,328 | 1,229,432 | 1,174,769 | 1,194,697 | 1,190,539 | 1,164,954 | 1,197,213 | 1,166,724 | 1,104,180 | 1,055,189 |
| Inventory | US$ in thousands | 139,690 | 218,046 | 222,122 | 244,331 | 243,286 | 244,798 | 274,863 | 246,873 | 155,060 | 147,739 | 134,514 | 77,752 | 69,963 | 81,304 | 73,751 | 93,323 | 50,268 | 61,065 | 57,198 | 58,205 |
| Inventory turnover | 11.99 | 7.38 | 7.74 | 6.70 | 6.37 | 6.24 | 5.16 | 5.65 | 8.77 | 8.65 | 9.15 | 15.81 | 16.79 | 14.69 | 16.14 | 12.48 | 23.82 | 19.11 | 19.30 | 18.13 |
March 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,674,509K ÷ $139,690K
= 11.99
The inventory turnover ratio for ePlus inc has fluctuated over the past several quarters. The ratio indicates how efficiently the company managed its inventory during a specific period. A higher inventory turnover ratio suggests that the company is selling its inventory quickly and efficiently, while a lower ratio may indicate slow-moving or obsolete inventory.
Looking at the trend over the quarters, we can see that the inventory turnover ratio has varied between 5.16 and 23.82. In the most recent quarter ending March 31, 2024, the inventory turnover ratio was 11.99, signaling an improvement compared to the previous quarter.
It is important to note that the inventory turnover ratio of ePlus inc reached its highest point in the quarter ending March 31, 2020, at 23.82, indicating a significant efficiency in managing inventory during that period. However, the ratio has since declined but has shown some fluctuations in between.
The company should continue to monitor and manage its inventory effectively to ensure optimal turnover, minimize carrying costs, and avoid obsolescence. The analysis of the inventory turnover ratio provides valuable insights into the company's inventory management practices and efficiency in sales.
Peer comparison
Mar 31, 2024
Mar 31, 2024