Analysis of Inventory
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
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Inventory Disclosure
ON Semiconductor Corp., balance sheet: inventory
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in process | |||||||||||
| Finished goods | |||||||||||
| Inventories |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
- Inventory Components
- Raw materials exhibit a consistent upward trend over the five-year period, starting at $138.4 million in 2019 and increasing significantly to $469.3 million by the end of 2023. This indicates a substantial buildup of raw material stock, particularly noticeable between 2022 and 2023.
- Work in process (WIP) also shows a steady increase each year, rising from $772.9 million in 2019 to $1.2211 billion in 2023. The incremental growth suggests ongoing expansion in production activities or longer manufacturing cycles.
- Finished goods inventory fluctuates less dramatically but still increases from $321.1 million in 2019 to a peak of $429.0 million in 2022 before dipping slightly to $421.4 million in 2023. This indicates relatively stable sales or inventory turnover towards the end of the period.
- Total Inventories
- Total inventory levels, encompassing raw materials, WIP, and finished goods, show a clear ascending trajectory from $1.2324 billion in 2019 to $2.1118 billion in 2023. The most pronounced growth occurs between 2022 and 2023, driven primarily by the surge in raw materials and sustained increases in WIP.
- Insights
- The overall growth in inventory suggests increased production capacity or anticipation of higher product demand. However, the significant rise in raw materials could point toward potential overstocking or supply chain strategy adjustments. The relative stability in finished goods inventory towards recent years may suggest consistent sales volume or improved inventory management in that category.