SPX Corp (SPXC)
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 | 1,216,100 | 1,182,000 | 1,176,000 | 1,118,400 | 1,071,200 | 1,056,800 | 1,014,100 | 990,900 | 944,100 | 897,700 | 852,100 | 810,300 | 880,500 | 973,500 | 1,036,800 | 1,101,300 | 1,083,200 | 1,070,600 | 1,074,100 | 1,079,100 |
| Inventory | US$ in thousands | 271,000 | 297,700 | 292,700 | 295,100 | 276,700 | 291,500 | 299,600 | 265,700 | 244,000 | 265,200 | 235,800 | 220,700 | 189,800 | 170,300 | 157,700 | 169,700 | 162,000 | 179,300 | 181,600 | 175,100 |
| Inventory turnover | 4.49 | 3.97 | 4.02 | 3.79 | 3.87 | 3.63 | 3.38 | 3.73 | 3.87 | 3.38 | 3.61 | 3.67 | 4.64 | 5.72 | 6.57 | 6.49 | 6.69 | 5.97 | 5.91 | 6.16 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,216,100K ÷ $271,000K
= 4.49
SPX Corp's inventory turnover has shown fluctuations over the past few years. From March 31, 2020, to December 31, 2021, the inventory turnover ratio ranged between 5.72 and 6.69, indicating the company's ability to effectively manage its inventory levels and convert them into sales within a specific time period.
However, starting from March 31, 2022, the inventory turnover ratio began to decline steadily, reaching its lowest point of 3.38 on June 30, 2023. This decline suggests a potential inefficiency in managing inventory levels, as the company took longer to sell its inventory during this period.
By the end of December 31, 2024, the inventory turnover ratio slightly improved to 4.49, but it remains lower compared to the previous years. It is essential for SPX Corp to closely monitor and optimize its inventory management practices to improve efficiency, reduce carrying costs, and enhance overall profitability.
Peer comparison
Dec 31, 2024
Dec 31, 2024