Interface Inc (TILE)
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 | Jul 5, 2020 | Apr 5, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,076,841 | 790,959 | 810,643 | 818,428 | 880,063 | 1,186,696 | 1,171,058 | 1,125,178 | 1,101,848 | 1,048,619 | 765,256 | 504,828 | 387,904 | 129,500 | 432,888 | 742,281 | 904,337 | 924,737 | 922,489 | 613,396 |
| Inventory | US$ in thousands | 279,079 | 289,320 | 288,181 | 312,745 | 306,327 | 319,074 | 318,076 | 319,367 | 265,092 | 256,652 | 258,215 | 243,067 | 228,725 | 247,494 | 263,721 | 271,151 | 253,584 | 265,101 | 271,790 | 285,738 |
| Inventory turnover | 3.86 | 2.73 | 2.81 | 2.62 | 2.87 | 3.72 | 3.68 | 3.52 | 4.16 | 4.09 | 2.96 | 2.08 | 1.70 | 0.52 | 1.64 | 2.74 | 3.57 | 3.49 | 3.39 | 2.15 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,076,841K ÷ $279,079K
= 3.86
Interface Inc.'s inventory turnover ratio has shown consistency over the past eight quarters, ranging from 2.48 to 3.01. The higher turnover ratios in Q2 2023 and Q1 2023 indicate that the company was able to sell through its inventory relatively quickly during those periods. On the other hand, the lower turnover ratios in Q4 2022 and Q3 2022 suggest a slower rate of inventory turnover during those quarters. Overall, Interface Inc. has maintained a moderate level of inventory turnover, which signifies efficient management of inventory levels and a healthy balance between sales and inventory holding. Further analysis may be needed to assess the impact of inventory turnover on the company's overall operational efficiency and profitability.
Peer comparison
Dec 31, 2023
Dec 31, 2023