Progress Software Corporation (PRGS)

Inventory turnover

		Nov 30, 2024	Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020
Cost of revenue	US$ in thousands	130,482	126,577	94,496	78,449	62,114
Inventory	US$ in thousands	—	—	5,043	3,551	0
Inventory turnover		—	—	18.74	22.09	—

November 30, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $130,482K ÷ $—K
= —

The inventory turnover for Progress Software Corporation has shown fluctuations over the years. In November 2021, the inventory turnover was 22.09, indicating that the company sold and replaced its inventory more than 22 times during that year.

However, in November 2022, the inventory turnover decreased to 18.74, suggesting that the company took longer to sell and replace its inventory compared to the previous year.

Notably, for the years 2020, 2023, and 2024, the inventory turnover figures are not provided (denoted by "—"). The lack of data for these years limits the ability to assess the trend accurately over the whole period.

Overall, maintaining a healthy inventory turnover ratio is crucial for managing inventory efficiently and optimizing working capital. Tracking this ratio over time enables evaluating the company's inventory management practices and operational performance.