WEC Energy Group Inc (WEC)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 4,814,000 | 5,291,700 | 6,296,900 | 5,316,500 | 4,351,700 |
| Inventory | US$ in thousands | 813,200 | 775,200 | 807,100 | 635,800 | 528,600 |
| Inventory turnover | 5.92 | 6.83 | 7.80 | 8.36 | 8.23 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $4,814,000K ÷ $813,200K
= 5.92
The inventory turnover of WEC Energy Group Inc has experienced a slight increase from 8.23 in December 31, 2020, to 8.36 in December 31, 2021. However, there was a decline in inventory turnover to 7.80 in December 31, 2022, followed by a more significant drop to 6.83 in December 31, 2023, and a further decrease to 5.92 in December 31, 2024. These decreasing values indicate that the company may be holding on to its inventory for a longer period, which could potentially lead to excess inventory levels or inefficiencies in managing inventory. It would be advisable for WEC Energy Group Inc to review its inventory management processes to optimize efficiency and reduce carrying costs.
Peer comparison
Dec 31, 2024