Papa John's International Inc (PZZA)

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 275,306 266,338 273,005 266,627 290,380 305,479 300,709 309,761 286,558 283,191 281,722 276,452 270,209 273,566 274,801 275,091 278,575 212,543 214,169 204,423
Inventory US$ in thousands 36,126 37,666 37,515 37,112 41,382 42,448 38,076 38,992 34,981 33,490 29,843 27,552 30,265 28,702 32,546 29,810 27,529 25,190 26,615 26,144
Inventory turnover 7.62 7.07 7.28 7.18 7.02 7.20 7.90 7.94 8.19 8.46 9.44 10.03 8.93 9.53 8.44 9.23 10.12 8.44 8.05 7.82

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $275,306K ÷ $36,126K
= 7.62

Based on the provided data, it appears that Papa John`s International, Inc. had inventory turnover ratios of 0.00 in each quarter from Q1 2022 to Q4 2023. An inventory turnover ratio of 0.00 signifies that the company's inventory was not being sold or turned over during those periods. This could be indicative of inventory management issues, overstocking, or potentially slow sales. Further analysis and investigation into the reasons behind the consistently low inventory turnover are warranted to understand the impact on the company's operations and financial performance.