Upbound Group Inc. (UPBD)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,970,160 | 2,165,860 | 2,348,440 | 1,142,040 | 1,025,780 |
| Inventory | US$ in thousands | 6,398 | 6,988 | 6,405 | 5,439 | 4,878 |
| Inventory turnover | 307.93 | 309.94 | 366.66 | 209.97 | 210.29 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,970,160K ÷ $6,398K
= 307.93
The inventory turnover ratio of Upbound Group Inc. has shown variations over the past five years. In 2023, the inventory turnover ratio was 307.93, indicating that the company sold and replaced its entire inventory approximately 307.93 times during the year. This was a slight decrease from the previous year's ratio of 309.94.
In 2021, the inventory turnover ratio reached its peak at 366.66, suggesting that the company efficiently managed its inventory by swiftly selling and replenishing it. However, in 2020 and 2019, the ratios were lower at 209.97 and 210.29 respectively, indicating a slower rate of inventory turnover during those years.
Overall, Upbound Group Inc. has generally demonstrated a high inventory turnover, which is often viewed positively as it suggests effective inventory management and liquidity. However, fluctuations in the ratio over the years may indicate changes in the company's sales trends, inventory management practices, or industry dynamics that warrant further investigation and consideration.
Peer comparison
Dec 31, 2023