Range Resources Corp (RRC)

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	371,278	385,587	416,023	498,847	543,506	654,345	722,086	748,975	758,857	713,449	699,404	598,073	572,721	517,802	964,489	961,282	997,540	3,254,481	2,777,112	2,851,566
Inventory	US$ in thousands	—	18,815	—	0	359,489	173,406	176,247	147,529	0	—	0	2,176	-5,738	17,037	13,793	13,581	0	5,264	18,868	257,347
Inventory turnover		—	20.49	—	—	1.51	3.77	4.10	5.08	—	—	—	274.85	—	30.39	69.93	70.78	—	618.25	147.19	11.08

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $371,278K ÷ $—K
= —

Range Resources Corp's inventory turnover has exhibited significant fluctuations over the past few years.

The inventory turnover ratio is used to measure the efficiency of a company in managing its inventory. A higher turnover ratio indicates that inventory is selling quickly, which is generally considered favorable. On the other hand, a lower turnover ratio may suggest slow-moving or obsolete inventory.

In analyzing Range Resources Corp's inventory turnover, we can observe the following trends:
- The ratio was relatively low in the first part of 2020 but saw a substantial spike in the third quarter of 2020, reaching a high of 618.25.
- There were periods where the turnover ratio was not provided ("—"), indicating potential data gaps or significant changes in inventory management practices.
- The ratio decreased in the following quarters but remained within a moderate range in 2021.
- A notable increase was observed in the first quarter of 2022, with the turnover ratio jumping to 274.85, signifying improved efficiency in inventory management.
- Subsequently, the ratio declined in the following quarters up to the end of 2023, dropping to 1.51 by the end of December 2023.
- There was a significant increase in the inventory turnover ratio in the third quarter of 2024, reaching 20.49, indicating a potential improvement in inventory management efficiency.

Overall, Range Resources Corp's inventory turnover ratio has displayed variability, with periods of both high and low turnover rates. It is essential for the company to closely monitor its inventory levels and sales to ensure optimal inventory turnover and efficient utilization of resources.