Xpel Inc (XPEL)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 243,040 | 233,879 | 196,481 | 166,586 | 104,899 |
| Inventory | US$ in thousands | 110,904 | 106,509 | 80,575 | 51,936 | 22,364 |
| Inventory turnover | 2.19 | 2.20 | 2.44 | 3.21 | 4.69 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $243,040K ÷ $110,904K
= 2.19
The inventory turnover for Xpel Inc has seen a gradual decline over the years, from 4.69 in December 31, 2020 to 2.19 in December 31, 2024. This indicates that the company is taking longer to sell its inventory. A decreasing inventory turnover may suggest overstocking, slow sales, or ineffective inventory management. Xpel Inc may need to reevaluate its inventory control systems and strategies to improve efficiency and optimize the use of its inventory.