ANI Pharmaceuticals Inc (ANIP)

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	403,001	373,923	345,750	331,144	317,856	312,836	287,388	257,494	201,891	147,453	115,877	85,338	87,157	80,412	75,296	70,233	63,154	65,492	66,095	67,056
Inventory	US$ in thousands	111,196	106,590	104,323	103,654	105,355	95,893	92,545	83,155	81,693	61,684	67,634	59,927	60,803	59,195	52,563	52,902	48,163	46,174	45,296	42,032
Inventory turnover		3.62	3.51	3.31	3.19	3.02	3.26	3.11	3.10	2.47	2.39	1.71	1.42	1.43	1.36	1.43	1.33	1.31	1.42	1.46	1.60

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $403,001K ÷ $111,196K
= 3.62

ANI Pharmaceuticals Inc's inventory turnover has shown some fluctuations over the past 8 quarters, ranging from 1.32 to 1.63. The trend indicates that the company is effectively managing its inventory by converting it into sales. A higher inventory turnover ratio signifies that the company is selling its inventory quickly, which is generally viewed as a positive indicator of efficient inventory management.

However, it is essential to understand the industry norms and compare ANI Pharmaceuticals Inc's inventory turnover ratio with its competitors to get a better perspective on its performance. It would also be beneficial to analyze the reasons behind the fluctuations in the inventory turnover ratio and assess if there are any underlying issues affecting the company's inventory management efficiency.