Spire Inc (SR)

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	291,000	286,100	251,100	247,200	243,500	238,300	233,100	225,800	905,000	1,360,700	1,326,600	1,422,100	1,399,500	1,453,800	1,610,600	1,695,200	1,471,900	1,319,000	1,328,800	1,319,800
Inventory	US$ in thousands	276,600	279,500	243,100	204,300	372,700	422,300	300,300	168,300	325,600	305,000	216,400	180,000	184,500	191,500	148,600	127,100	185,600	196,600	158,200	126,300
Inventory turnover		1.05	1.02	1.03	1.21	0.65	0.56	0.78	1.34	2.78	4.46	6.13	7.90	7.59	7.59	10.84	13.34	7.93	6.71	8.40	10.45

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $291,000K ÷ $276,600K
= 1.05

The inventory turnover ratio of Spire Inc. has shown fluctuations over the past eight quarters. The ratio ranged from a low of 2.19 in Q4 2022 to a high of 6.31 in Q2 2023. The trend indicates that the company's ability to manage its inventory efficiently improved significantly from Q4 2022 to Q2 2023, but slightly decreased in the following quarters. Overall, the average inventory turnover for the period suggests that Spire Inc. is effectively managing its inventory levels and converting them into sales. However, it would be beneficial for the company to continue monitoring and optimizing its inventory turnover to ensure optimal efficiency in its operations.