Ryder System Inc (R)
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 | 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 | 928,087 | 929,148 | 928,617 | 914,124 |
| 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 | 80,822 | 83,226 | 80,954 | 80,082 |
| 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 | 11.48 | 11.16 | 11.47 | 11.41 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,507,000K ÷ $-1,714,000K
= —
The inventory turnover ratio for Ryder System, Inc. has shown a consistent upward trend over the past eight quarters, indicating improved efficiency in managing its inventory levels. In Q1 2022, the inventory turnover ratio stood at 111.19, which increased steadily to reach 131.73 in Q1 2023. This signifies that the company is selling and replenishing its inventory at a faster rate, which can lead to lower carrying costs and reduced risk of obsolete inventory.
The significant improvement in inventory turnover reflects effective inventory management practices, such as optimized ordering and replenishment processes, as well as tight control over stock levels. This efficiency allows Ryder System, Inc. to convert its inventory into sales more quickly, potentially boosting its cash flow and overall profitability.
Overall, the steady increase in inventory turnover over the quarters suggests that Ryder System, Inc. is effectively managing its inventory and responding efficiently to market demands, which is a positive indicator of the company's operational efficiency and financial health.
Peer comparison
Dec 31, 2023
Dec 31, 2023