RB Global Inc. (RBA)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	978,100	629,097	538,481	440,510	395,668
Inventory	US$ in thousands	166,500	103,100	102,494	86,278	64,956
Inventory turnover		5.87	6.10	5.25	5.11	6.09

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $978,100K ÷ $166,500K
= 5.87

RB Global Inc.'s inventory turnover ratio has fluctuated over the past five years, ranging from 5.11 to 6.10. A higher inventory turnover ratio indicates that the company is selling through its inventory more quickly, which can be a positive sign of efficiency. The decrease in inventory turnover from 2022 to 2023 may suggest that the company is holding onto inventory for a longer period, possibly due to slower sales or overstocking. Further analysis of the company's sales trends and inventory management practices would be needed to fully understand the implications of these changes in inventory turnover.