Willscot Mobile Mini Holdings Corp A (WSC)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 1,093,880 | 1,030,900 | 1,007,140 | 926,689 | 707,672 |
| Inventory | US$ in thousands | 47,473 | 47,406 | 41,030 | 32,739 | 21,655 |
| Inventory turnover | 23.04 | 21.75 | 24.55 | 28.31 | 32.68 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $1,093,880K ÷ $47,473K
= 23.04
The inventory turnover ratio for Willscot Mobile Mini Holdings Corp A demonstrates a declining trend over the observed period from December 31, 2020, to December 31, 2024. Specifically, the ratio decreased from 32.68 in 2020 to 28.31 in 2021, reflecting a reduction in how frequently inventory is sold and replaced within the year. This downward trajectory continued into 2022 with a ratio of 24.55, indicating further decline in inventory efficiency. The trend persisted into 2023, where the ratio declined to 21.75, suggesting that inventory turnover was slowing, potentially due to increased inventory levels or decreased sales velocity. However, in 2024, the ratio experienced a slight increase to 23.04, which may imply a marginal improvement in inventory management or sales performance, albeit still well below the 2020 levels. Overall, the diminishing inventory turnover ratio over the period indicates a trend toward slower inventory movement, warranting consideration of inventory management practices and sales efficiency.