Under Armour Inc A (UAA)

Inventory turnover

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 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	3,071,506	3,130,914	3,199,376	3,244,712	3,254,296	3,215,559	3,089,611	2,912,273	2,821,967	2,778,839	2,768,112	2,443,870	2,314,572	2,364,126	2,356,983	2,635,920	2,796,599	2,801,654	2,839,865	2,850,732
Inventory	US$ in thousands	958,495	1,104,030	1,143,870	1,320,470	1,185,660	1,217,780	1,080,420	954,394	811,410	837,740	881,117	851,829	895,974	1,056,840	1,198,510	940,236	892,258	906,544	965,711	875,252
Inventory turnover		3.20	2.84	2.80	2.46	2.74	2.64	2.86	3.05	3.48	3.32	3.14	2.87	2.58	2.24	1.97	2.80	3.13	3.09	2.94	3.26

March 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,071,506K ÷ $958,495K
= 3.20

The inventory turnover for Under Armour Inc A has shown some fluctuations over the past several quarters. The inventory turnover ratio measures how efficiently a company manages its inventory by indicating how many times the company sells and replaces its inventory during a certain period.

Based on the data provided, the inventory turnover ratio for Under Armour Inc A ranged from a low of 1.97 to a high of 3.48 over the past five years. A higher inventory turnover ratio generally indicates that a company is able to sell its inventory quickly, which can be a positive sign of efficient inventory management.

It is worth noting that the inventory turnover ratio has varied over the quarters, with some periods showing stronger performance compared to others. For example, the inventory turnover was highest at 3.48 in the quarter ended December 31, 2021, suggesting that the company was able to sell and replace its inventory at a faster rate during that period.

Conversely, the lowest inventory turnover ratio of 1.97 was observed in the quarter ended June 30, 2020, indicating that the company took longer to sell and replace its inventory during that particular period.

Overall, while the inventory turnover ratios of Under Armour Inc A have fluctuated, the company has generally maintained a moderate level of inventory turnover, which indicates a reasonable ability to manage its inventory efficiently over the past five years.