Worthington Industries Inc (WOR)
Inventory turnover
| Aug 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,643,948 | 2,433,631 | 2,457,332 | 2,563,908 | 3,560,910 | 3,928,994 | 4,896,760 | 4,875,250 | 4,527,404 | 3,926,995 | 3,286,896 | 2,834,244 | 2,532,351 | 2,301,917 | 2,355,357 | 2,466,765 | 2,615,782 | 2,906,884 | 3,042,793 | 3,173,059 |
| Inventory | US$ in thousands | 187,299 | 191,716 | 576,411 | 672,296 | 194,499 | 601,124 | 654,624 | 727,135 | 759,140 | 869,198 | 839,588 | 742,408 | 564,754 | 413,181 | 304,443 | 319,478 | 405,101 | 376,871 | 379,787 | 422,163 |
| Inventory turnover | 8.78 | 12.69 | 4.26 | 3.81 | 18.31 | 6.54 | 7.48 | 6.70 | 5.96 | 4.52 | 3.91 | 3.82 | 4.48 | 5.57 | 7.74 | 7.72 | 6.46 | 7.71 | 8.01 | 7.52 |
August 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,643,948K ÷ $187,299K
= 8.78
Inventory turnover measures how efficiently a company manages its inventory by indicating how many times during a period inventory is sold and replaced. Worthington Industries Inc's inventory turnover has shown fluctuations over the periods provided.
A higher inventory turnover ratio generally indicates efficient inventory management, while a lower ratio may suggest overstocking or slow-moving inventory. In the recent period ending August 31, 2024, Worthington Industries Inc had an inventory turnover of 8.78, which indicates that the company's inventory turnover has improved compared to the previous period.
The highest inventory turnover ratio in the dataset was observed in May 31, 2023, at 18.31, suggesting strong inventory management efficiency at that time. On the other hand, the lowest turnover was seen on November 30, 2021, at 3.82, indicating a need for improvement in managing inventory levels.
Overall, an analysis of Worthington Industries Inc's inventory turnover ratio over time can provide insights into the company's inventory management practices and efficiency in converting inventory into sales.
Peer comparison
Aug 31, 2024
Aug 31, 2024