Vector Group Ltd (VGR)
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 | 1,085,374 | 1,057,468 | 1,051,299 | 1,046,623 | 998,658 | 954,376 | 874,797 | 815,965 | 769,542 | 1,043,090 | 1,289,071 | 1,424,224 | 1,621,719 | 1,481,107 | 1,393,138 | 1,413,753 | 1,335,886 | 1,414,849 | 1,517,244 | 1,568,172 |
| Inventory | US$ in thousands | 91,959 | 89,264 | 98,716 | 100,675 | 92,448 | 86,101 | 93,419 | 97,991 | 94,615 | 89,774 | 93,161 | 100,945 | 97,545 | 94,548 | 98,609 | 105,324 | 98,762 | 99,179 | 96,934 | 101,977 |
| Inventory turnover | 11.80 | 11.85 | 10.65 | 10.40 | 10.80 | 11.08 | 9.36 | 8.33 | 8.13 | 11.62 | 13.84 | 14.11 | 16.63 | 15.67 | 14.13 | 13.42 | 13.53 | 14.27 | 15.65 | 15.38 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,085,374K ÷ $91,959K
= 11.80
The inventory turnover of Vector Group Ltd has been fairly consistent in recent quarters, hovering around the range of 10 to 11 times per year. This indicates that the company is effectively managing its inventory levels and is able to sell and replace its inventory multiple times within a year.
It is important to note the significant improvement in inventory turnover from Q2 2022 to Q4 2022, where it nearly tripled from 2.43 to 6.32 times, suggesting that the company made significant improvements in managing its inventory during that period.
Overall, the consistently high inventory turnover ratio demonstrates that Vector Group Ltd has efficient inventory management practices in place, allowing the company to optimize its working capital and maximize sales.
Peer comparison
Dec 31, 2023
Dec 31, 2023