Axcelis Technologies Inc (ACLS)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 639,303 | 518,208 | 375,983 | 275,976 | 198,806 |
| Inventory | US$ in thousands | 306,482 | 242,406 | 194,984 | 161,076 | 140,364 |
| Inventory turnover | 2.09 | 2.14 | 1.93 | 1.71 | 1.42 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $639,303K ÷ $306,482K
= 2.09
Axcelis Technologies Inc's inventory turnover ratio has shown a consistent upward trend over the past five years, indicating an improvement in managing its inventory. The ratio increased from 1.42 in 2019 to 2.09 in 2023. This suggests that the company is selling its inventory at a faster rate, which can lead to reduced holding costs and potential liquidity benefits. The rise in inventory turnover signals efficient inventory management and effective sales strategies, contributing positively to the company's overall financial performance.
Peer comparison
Dec 31, 2023
Company name
Symbol
Inventory turnover
Axcelis Technologies Inc
ACLS
2.09
Azenta Inc
AZTA
6.31
Lam Research Corp
LRCX
2.17
Veeco Instruments Inc
VECO
2.03