Worthington Industries Inc (WOR)
Inventory turnover
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 834,727 | 850,778 | 880,783 | 1,644,000 | 2,444,954 | 3,188,749 | 3,210,811 | 3,317,387 | 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 |
| Inventory | US$ in thousands | 169,393 | 165,335 | 179,463 | 187,299 | 164,615 | 191,716 | 576,411 | 672,296 | 607,968 | 601,124 | 654,624 | 727,135 | 759,140 | 869,198 | 839,588 | 742,408 | 564,754 | 413,181 | 304,443 | 319,478 |
| Inventory turnover | 4.93 | 5.15 | 4.91 | 8.78 | 14.85 | 16.63 | 5.57 | 4.93 | 5.86 | 6.54 | 7.48 | 6.70 | 5.96 | 4.52 | 3.91 | 3.82 | 4.48 | 5.57 | 7.74 | 7.72 |
May 31, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $834,727K ÷ $169,393K
= 4.93
The inventory turnover ratio for Worthington Industries Inc. exhibits considerable variability over the observed periods. Historically, the ratio fluctuated within a relatively stable range, with values around 3.8 to 7.8 from August 31, 2020, through November 30, 2023, indicating a moderate efficiency in inventory management during this period.
A notable anomaly appears in the data for February 29, 2024, where the ratio spikes sharply to 16.63, significantly higher than previous figures. This suggests an extraordinary increase in inventory turnover, potentially attributable to extraordinary sales, inventory reduction efforts, or anomalies in the measurement or reporting process. Following this spike, the ratio decreases markedly to 14.85 in May 2024 and further declines to 8.78 in August 2024, aligning more closely with historical levels, albeit still indicating increased efficiency.
Subsequent data points show a decrease to 4.91 in November 2024 and slight fluctuations thereafter, with ratios of around 4.93 and 5.15 in the most recent periods. These figures suggest a stabilization at a lower range compared to the recent peak, pointing to either a normalization of inventory management or changes in operational scale.
Overall, the inventory turnover trend reflects periods of relatively stable inventory management interspersed with irregular spikes that may correspond to specific operational events or reporting anomalies. The recent decline from the peak indicates an adjustment towards typical turnover levels, with ongoing fluctuations suggesting continued operational variability.
Peer comparison
May 31, 2025
May 31, 2025