Avnet Inc (AVT)
Inventory turnover
| Jun 30, 2025 | Mar 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 19,815,790 | 19,711,780 | 19,968,530 | 20,399,930 | 20,990,690 | 21,807,180 | 22,525,630 | 22,960,320 | 23,354,740 | 23,211,170 | 23,183,510 | 22,402,270 | 21,345,310 | 20,334,080 | 19,007,330 | 18,012,070 | 17,294,050 | 16,396,890 | 15,839,410 | 15,691,680 |
| Inventory | US$ in thousands | 5,235,480 | 5,270,450 | 5,252,470 | 5,614,100 | 5,468,730 | 5,751,870 | 6,116,000 | 5,755,050 | 5,465,030 | 5,354,010 | 4,972,900 | 4,654,980 | 4,244,150 | 3,680,820 | 3,542,720 | 3,283,820 | 3,236,840 | 2,760,160 | 2,816,420 | 2,944,670 |
| Inventory turnover | 3.78 | 3.74 | 3.80 | 3.63 | 3.84 | 3.79 | 3.68 | 3.99 | 4.27 | 4.34 | 4.66 | 4.81 | 5.03 | 5.52 | 5.37 | 5.49 | 5.34 | 5.94 | 5.62 | 5.33 |
June 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $19,815,790K ÷ $5,235,480K
= 3.78
The inventory turnover ratio for Avnet Inc. demonstrates notable fluctuations over the analyzed period. Starting at 5.33 times as of September 30, 2020, the ratio gradually increased, reaching a peak of 5.94 on March 31, 2021. This upward trend indicates an improved efficiency in inventory management during this period, possibly reflecting better inventory control or higher sales relative to inventory levels.
Subsequently, the ratio experienced a decline, decreasing to 5.34 by June 30, 2021, and fluctuating within a narrow range until September 30, 2021, at 5.49. The ratio then showed a slight downward trajectory, falling to approximately 4.66 by December 31, 2022, and continuing the decline through March 31, 2023, at 4.34, and further to 3.68 on December 31, 2023. These decreases suggest a reduction in inventory turnover efficiency, which could be attributable to slower sales, increased inventory levels, or both.
More recently, the ratio exhibits some stabilization and slight increases, with figures of 3.79 on March 31, 2024, 3.84 on June 30, 2024, and a marginal decrease to 3.63 on September 30, 2024, followed by a modest uptick to 3.80 on December 31, 2024. The last data points, from March to June 2025, indicate ratios of 3.74 and 3.78, respectively, showing relative steadiness in inventory turnover rates.
Overall, the trend suggests that Avnet's inventory turnover was relatively high and improving in the early part of the analyzed period but has since declined and stabilized at lower levels. The recent stable and slightly increasing ratios may imply efforts to optimize inventory management are yielding limited improvements, but the ratios remain below their early peak levels. This pattern warrants further examination into sales trends, inventory policies, and market conditions to better understand the underlying causes of these fluctuations.
Peer comparison
Jun 30, 2025
Jun 30, 2025