Tootsie Roll Industries Inc (TR)
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 | 667,537 | 661,003 | 634,639 | 605,709 | 576,215 | 561,601 | 538,534 | 530,626 | 503,643 | 473,280 | 451,027 | 422,621 | 412,819 | 416,367 | 397,207 | 383,280 | 365,374 | 353,528 | 355,877 | 357,345 |
| Inventory | US$ in thousands | 59,244 | 107,592 | 139,927 | 109,247 | 56,551 | 89,555 | 101,088 | 67,719 | 38,307 | 71,835 | 88,284 | 68,277 | 44,884 | 71,181 | 94,854 | 71,657 | 43,593 | 70,410 | 92,344 | 65,679 |
| Inventory turnover | 11.27 | 6.14 | 4.54 | 5.54 | 10.19 | 6.27 | 5.33 | 7.84 | 13.15 | 6.59 | 5.11 | 6.19 | 9.20 | 5.85 | 4.19 | 5.35 | 8.38 | 5.02 | 3.85 | 5.44 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $667,537K ÷ $59,244K
= 11.27
Tootsie Roll Industries, Inc.'s inventory turnover ratio has shown fluctuations over the past eight quarters. The inventory turnover ratio measures how many times a company's inventory is sold and replaced within a specific period.
In Q4 2023, the inventory turnover ratio was 5.40, indicating that Tootsie Roll Industries, Inc. sold and replaced its inventory 5.40 times during that quarter. This was a significant increase from the previous quarter Q3 2023, where the ratio was 4.72.
Looking back further, the trend shows variability in inventory turnover ratios, with values ranging from 3.47 in Q2 2023 to 5.88 in Q1 2022. The highest turnover ratio was observed in Q1 2022, suggesting efficient management of inventory during that period.
Overall, Tootsie Roll Industries, Inc. has experienced fluctuations in its inventory turnover ratios, which could be influenced by factors such as seasonal demand, production efficiencies, or changes in inventory management strategies. Further analysis of the company's operations and industry trends could provide insights into the drivers behind these fluctuations and help assess the effectiveness of Tootsie Roll Industries, Inc.'s inventory management practices.
Peer comparison
Dec 31, 2023
Dec 31, 2023