Ryder System Inc (R)
Inventory turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,557,000 | 1,567,000 | 1,546,000 | 1,522,000 | 1,507,000 | 1,484,693 | 1,487,304 | 1,504,991 | 1,446,206 | 1,331,536 | 1,237,514 | 1,146,095 | 1,084,622 | 1,065,601 | 1,021,195 | 960,491 | 942,868 | 898,175 | 903,029 | 920,881 |
| Inventory | US$ in thousands | — | — | — | — | -1,714,000 | 75,000 | 74,000 | 74,000 | 78,000 | 78,515 | 82,097 | 74,827 | 69,000 | 66,831 | 62,707 | 60,649 | 61,191 | 60,587 | 62,282 | 65,422 |
| Inventory turnover | — | — | — | — | — | 19.80 | 20.10 | 20.34 | 18.54 | 16.96 | 15.07 | 15.32 | 15.72 | 15.94 | 16.29 | 15.84 | 15.41 | 14.82 | 14.50 | 14.08 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,557,000K ÷ $—K
= —
Ryder System Inc's inventory turnover has shown a consistent improving trend over the last few years, indicating efficient management of its inventory. The ratio increased from 14.08 times as of March 31, 2020, to a peak of 20.34 times as of March 31, 2023. This suggests that Ryder has been able to sell and replace its inventory more frequently.
However, there was a slight decline after March 31, 2023, with the inventory turnover decreasing to 19.80 times as of September 30, 2023. This may indicate a slowdown in inventory management efficiency during this period.
The inventory turnover ratio then remained stable around the 15-16 times range for the rest of 2023 and into 2024, with the most recent data pointing to a value of 15.72 times as of December 31, 2023. It is worth noting that the data for the quarters beyond 2023 are not available, suggesting limited visibility into the company's inventory turnover performance in the near future.
In conclusion, Ryder System Inc has generally shown improvement in managing its inventory turnover ratios, which is a positive indicator of effective inventory management. However, monitoring future data would be necessary to assess whether the slight dip observed in late 2023 is a temporary fluctuation or part of a sustained trend.
Peer comparison
Dec 31, 2024
Dec 31, 2024