Scotts Miracle-Gro Company (SMG)
Inventory turnover
| Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 3,632,600 | 4,302,400 | 4,272,900 | 3,621,900 | 2,828,500 |
| Inventory | US$ in thousands | 880,300 | 1,343,500 | 1,126,600 | 621,900 | 540,300 |
| Inventory turnover | 4.13 | 3.20 | 3.79 | 5.82 | 5.24 |
September 30, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $3,632,600K ÷ $880,300K
= 4.13
The inventory turnover of Scotts Miracle-Gro Company has fluctuated over the past five years. In 2023, the inventory turnover ratio improved to 3.08 from 2.15 in 2022. This suggests that the company's inventory was turned over 3.08 times during the year, indicating an improvement in the efficiency of managing inventory. However, it is important to note that the 2023 inventory turnover ratio is still lower than the 2020 and 2019 ratios, which were 4.45 and 3.94 respectively. This indicates that the company's efficiency in managing its inventory has not yet surpassed the levels achieved in those years. Overall, the inventory turnover ratio of Scotts Miracle-Gro Company has shown fluctuations, and while there was an improvement in 2023, it did not reach the peak levels seen in 2020 and 2019.
Peer comparison
Sep 30, 2023