Progress Software Corporation (PRGS)

Inventory turnover

Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020 May 31, 2020 Feb 29, 2020
Cost of revenue (ttm) US$ in thousands 130,482 127,607 131,462 133,169 126,577 116,445 107,322 97,501 94,496 92,045 88,317 83,670 78,449 75,600 70,270 65,219 62,114 64,649 70,736 74,088
Inventory US$ in thousands — -34,636 — 0 — 0 0 — 5,043 4,640 2,780 3,171 3,551 — — 0 0 — 0 —
Inventory turnover — — — — — — — — 18.74 19.84 31.77 26.39 22.09 — — — — — — —

November 30, 2024 calculation

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

Progress Software Corporation's inventory turnover has shown fluctuations over the periods provided.

The inventory turnover ratio measures how efficiently a company is managing its inventory by indicating how many times the company sold and replaced its inventory during a specific period. A higher inventory turnover indicates better inventory management and a more rapid turnover of goods.

Based on the data provided:
- The inventory turnover was not available (indicated as "—") for the periods up to February 28, 2022.
- From May 31, 2022, to May 31, 2023, the inventory turnover figures were not available.
- The inventory turnover ratio started to be available from August 31, 2023 onwards.

Specifically, the inventory turnover for Progress Software Corporation was:
- 22.09 for November 30, 2021
- 26.39 for February 28, 2022
- 31.77 for May 31, 2022
- 19.84 for August 31, 2022
- 18.74 for November 30, 2022

The decreasing trend from 31.77 to 18.74 in a span of three quarters (May 31, 2022, to November 30, 2022) suggests a slower rate of inventory turnover, which may indicate issues with inventory management or potentially slower sales during that period.

It is important for Progress Software Corporation to monitor its inventory turnover ratio regularly to ensure efficient management of its inventory levels, avoid excess stock, and optimize cash flow through improved inventory turnover.