Adapthealth Corp (AHCO)
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 | 2,717,217 | 3,241,752 | 2,682,237 | 2,613,486 | 2,553,169 | 2,412,922 | 2,296,367 | 2,179,209 | 1,989,834 | 1,826,077 | 1,514,323 | 1,181,366 | 898,601 | 1,102,641 | 834,110 | 621,300 | 440,704 | 296,065 | 295,261 | 293,625 |
| Inventory | US$ in thousands | 113,642 | 116,332 | 114,882 | 136,018 | 127,754 | 125,362 | 102,675 | 99,636 | 123,095 | 99,881 | 81,507 | 75,487 | 58,783 | 46,477 | 24,444 | 17,968 | 13,239 | 14,234 | 13,527 | 13,527 |
| Inventory turnover | 23.91 | 27.87 | 23.35 | 19.21 | 19.99 | 19.25 | 22.37 | 21.87 | 16.17 | 18.28 | 18.58 | 15.65 | 15.29 | 23.72 | 34.12 | 34.58 | 33.29 | 20.80 | 21.83 | 21.71 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,717,217K ÷ $113,642K
= 23.91
AdaptHealth Corp's inventory turnover has remained relatively stable over the past eight quarters, ranging from 19.20 to 23.94. The company efficiently manages its inventory, as reflected in the high turnover ratios. This indicates that the company is able to sell and replace its inventory multiple times within a year.
The highest inventory turnover was observed in Q4 2023 at 23.94, indicating that the company sold through its inventory at a faster rate during this period. Conversely, the lowest inventory turnover was in Q1 2023 at 19.20, suggesting a slightly slower rate of inventory turnover during that quarter.
Overall, the consistent high inventory turnover ratios suggest that AdaptHealth Corp is effectively managing its inventory levels to meet customer demand and minimize holding costs, which is a positive sign for operational efficiency and financial health.
Peer comparison
Dec 31, 2023
Dec 31, 2023