Apple Inc (AAPL)

Inventory turnover

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Cost of revenue (ttm)	US$ in thousands	236,449,000	234,097,000	233,035,000	237,146,000	239,069,000	242,338,000	244,067,000	245,918,000	248,640,000	243,951,000	242,456,000	238,363,000	234,954,000	226,097,000	216,342,000	200,418,000	189,475,000	188,835,000	185,007,000	184,764,000
Inventory	US$ in thousands	7,286,000	6,165,000	6,232,000	6,511,000	6,331,000	7,351,000	7,482,000	6,820,000	4,946,000	5,433,000	5,460,000	5,876,000	6,580,000	5,178,000	5,219,000	4,973,000	4,061,000	3,978,000	3,334,000	4,097,000
Inventory turnover		32.45	37.97	37.39	36.42	37.76	32.97	32.62	36.06	50.27	44.90	44.41	40.57	35.71	43.66	41.45	40.30	46.66	47.47	55.49	45.10

September 30, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $236,449,000K ÷ $7,286,000K
= 32.45

Apple Inc's inventory turnover ratio has shown a fluctuating trend over the past two years. As of September 30, 2024, the inventory turnover ratio stood at 32.45, indicating that the company converted its inventory into sales approximately 32.45 times during the year. This ratio was lower compared to the previous quarter, where it was 37.97.

Looking back over the past eight quarters, Apple's inventory turnover has ranged from a low of 32.45 to a high of 55.49. The highest turnover was recorded on September 30, 2022, at 50.27, indicating a strong efficiency in managing and selling inventory during that period.

Overall, the inventory turnover ratio for Apple Inc has generally been relatively high, suggesting that the company efficiently manages its inventory levels and effectively sells its products. However, the fluctuations in the ratio highlight the importance of closely monitoring inventory levels and sales performance to ensure optimal efficiency and profitability.