Ametek Inc (AME)

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	5,063,800	5,002,020	4,984,590	4,906,980	4,816,430	4,720,600	4,656,450	4,576,480	4,380,084	4,125,585	3,878,666	3,593,858	3,599,189	3,704,748	3,824,124	4,033,194	4,102,779	4,074,399	4,026,518	3,971,365
Inventory	US$ in thousands	1,132,470	1,087,580	1,107,820	1,117,050	1,044,280	1,025,130	966,609	866,472	769,175	738,688	711,620	604,321	559,171	584,753	621,518	654,298	624,567	623,675	634,138	640,580
Inventory turnover		4.47	4.60	4.50	4.39	4.61	4.60	4.82	5.28	5.69	5.59	5.45	5.95	6.44	6.34	6.15	6.16	6.57	6.53	6.35	6.20

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $5,063,800K ÷ $1,132,470K
= 4.47

Ametek Inc's inventory turnover has been relatively stable in recent quarters, ranging between 3.65 to 3.84 times per year. In Q1 and Q4 of 2022, the company had the highest inventory turnover at 4.38 and 4.00, respectively. However, there has been a slight decrease in inventory turnover in the most recent quarters, with Q1 and Q4 of 2023 showing the lowest turnover rates at 3.65 and 3.72, respectively.

Overall, the company's inventory turnover seems to be consistently above 3.5 times per year, indicating that the company is effectively managing its inventory levels. However, a downward trend in recent quarters may suggest a need to monitor inventory management practices to ensure optimal efficiency in the future.