World Kinect Corporation (WKC)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 46,652,400 | 57,954,100 | 30,548,800 | 19,506,500 | 35,707,000 |
| Inventory | US$ in thousands | 664,600 | 779,900 | 477,900 | 344,300 | 593,300 |
| Inventory turnover | 70.20 | 74.31 | 63.92 | 56.66 | 60.18 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $46,652,400K ÷ $664,600K
= 70.20
World Kinect Corp's inventory turnover has been fluctuating over the past five years. The ratio indicates how many times the company's inventory is sold and replaced during the year.
The trend shows an overall increasing pattern from 2019 to 2022, reaching a peak of 74.31 in 2022. This indicates that the company efficiently managed its inventory during those years, with a higher frequency of inventory turnover.
However, there was a slight decrease in inventory turnover in 2023 to 70.20. Despite this decrease, the ratio remains relatively high, suggesting that the company is still effectively managing its inventory compared to previous years.
Overall, World Kinect Corp's inventory turnover has shown positive performance over the past five years, reflecting efficient inventory management practices within the company.