Axcelis Technologies Inc (ACLS)
Inventory turnover
| 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 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 639,302 | 623,440 | 586,652 | 554,381 | 518,209 | 477,879 | 452,207 | 413,471 | 375,983 | 329,007 | 291,069 | 278,875 | 275,976 | 270,159 | 246,787 | 218,277 | 198,806 | 197,515 | 214,104 | 241,881 |
| Inventory | US$ in thousands | 306,482 | 312,223 | 299,841 | 262,054 | 242,406 | 226,507 | 213,063 | 203,838 | 194,984 | 196,812 | 192,321 | 174,381 | 161,076 | 159,658 | 149,178 | 136,068 | 140,364 | 138,353 | 135,141 | 134,051 |
| Inventory turnover | 2.09 | 2.00 | 1.96 | 2.12 | 2.14 | 2.11 | 2.12 | 2.03 | 1.93 | 1.67 | 1.51 | 1.60 | 1.71 | 1.69 | 1.65 | 1.60 | 1.42 | 1.43 | 1.58 | 1.80 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $639,302K ÷ $306,482K
= 2.09
The inventory turnover ratio for Axcelis Technologies Inc has been relatively stable over the past eight quarters, ranging from 1.96 to 2.14. This ratio indicates how efficiently the company is managing its inventory by measuring the number of times the company sells and replaces its inventory during a specific period.
With an average inventory turnover ratio of approximately 2.07 over the period under review, it suggests that, on average, Axcelis Technologies Inc is able to sell and replace its inventory just over two times per year. This implies that the company is able to effectively manage its inventory levels, either by successfully anticipating demand or efficiently controlling production and supply chain operations.
A consistently moderate inventory turnover ratio may suggest that the company has found an optimal balance in managing its inventory levels, avoiding both stockouts and excess inventory. It is essential for investors and stakeholders to monitor this ratio over time to assess the company's operational efficiency and inventory management practices.
Peer comparison
Dec 31, 2023
Dec 31, 2023