Adtalem Global Education Inc (ATGE)

Inventory turnover

		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	Dec 31, 2019	Sep 30, 2019
Cost of revenue (ttm)	US$ in thousands	1,372,522	1,388,576	1,356,608	1,329,091	1,319,005	1,317,260	1,344,136	1,394,757	1,398,402	1,341,787	1,224,353	1,091,673	967,457	944,023	927,453	919,629	930,565	913,321	958,018	980,303
Inventory	US$ in thousands	—	—	3,183	1,988	1,386	1,804	2,234	—	—	0	0	0	—	—	—	—	0	—	—	—
Inventory turnover		—	—	426.20	668.56	951.66	730.19	601.67	—	—	—	—	—	—	—	—	—	—	—	—	—

June 30, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,372,522K ÷ $—K
= —

The inventory turnover ratio of Adtalem Global Education Inc has shown a fluctuating trend over the recent quarters. The ratio was not available for the periods ending June 30, 2024, and March 31, 2024. However, for the quarter ending December 31, 2023, the inventory turnover was 426.20, indicating that the company turned over its inventory approximately 426 times during that period.

Subsequently, there was a significant increase in inventory turnover to 668.56 for the quarter ending September 30, 2023, followed by a further increase to 951.66 for the quarter ending June 30, 2023. This substantial rise suggests that the company managed its inventory more efficiently and rapidly during these periods.

However, there was a slight decrease in inventory turnover to 730.19 for the quarter ending March 31, 2023, and a further decline to 601.67 for the quarter ending December 31, 2022. The decreasing trend may indicate either a buildup of excess inventory or a decrease in sales during these periods.

Overall, the variability in inventory turnover ratios indicates fluctuations in how effectively Adtalem Global Education Inc manages its inventory levels. It is important for the company to closely monitor and manage its inventory turnover to optimize its operations and maintain healthy financial performance.