Axcelis Technologies Inc (ACLS)
Inventory turnover
| Dec 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 563,212 | 599,410 | 615,458 | 625,622 | 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 |
| Inventory | US$ in thousands | 282,225 | 290,954 | 283,090 | 312,170 | 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 |
| Inventory turnover | 2.00 | 2.06 | 2.17 | 2.00 | 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 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $563,212K ÷ $282,225K
= 2.00
The inventory turnover ratio of Axcelis Technologies Inc has exhibited a generally increasing trend over the period from March 31, 2020, to December 31, 2024. The ratio has moved from 1.60 in March 2020 to 2.00 in December 2024, with some fluctuations along the way. This indicates that the company has been able to manage its inventory more efficiently over time.
A higher inventory turnover ratio typically suggests that a company is selling its inventory more quickly, which can be positive as it may lead to better liquidity and reduced risks of obsolescence or inventory holding costs. Additionally, a rising trend in inventory turnover may reflect effective inventory management practices and strong sales performance.
However, it is noteworthy that the ratio experienced a slight decline in the middle of 2021, with a dip to 1.51 in June 2021, before recovering and continuing its upward trajectory. This temporary decrease may warrant further investigation into potential reasons behind the drop in inventory turnover during that period.
Overall, the improving inventory turnover ratio of Axcelis Technologies Inc indicates that the company has been effectively managing its inventory levels and turning them into sales at a more rapid pace in recent years.
Peer comparison
Dec 31, 2024
Dec 31, 2024