Perdoceo Education Corp (PRDO)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	531,834	575,648	572,475	575,912	570,198
Inventory	US$ in thousands	5,004	1,904	904	596	576
Inventory turnover		106.28	302.34	633.27	966.30	989.93

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $531,834K ÷ $5,004K
= 106.28

Perdoceo Education Corporation's inventory turnover ratio has been consistently reported as 0.00 over the past five years, indicating that the company is not efficiently managing its inventory levels in relation to its cost of goods sold. A low or zero inventory turnover ratio may suggest excess or obsolete inventory, leading to potential storage costs and reduced liquidity. This trend warrants further investigation into the company's inventory management practices and potential implications for its overall operating efficiency and profitability.