Azenta Inc (AZTA)
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 | 765,718 | 790,046 | 747,290 | 699,598 | 668,354 | 596,034 | 300,527 | 408,630 | 496,709 | 568,572 | 916,815 | 857,459 | 808,814 | 792,486 | 768,054 | 753,818 | 733,891 | 704,706 | 736,205 | 697,042 |
| Inventory | US$ in thousands | 127,184 | 128,198 | 142,102 | 150,727 | 145,939 | 85,544 | 81,213 | 77,752 | 70,143 | 60,398 | 154,720 | 127,987 | 123,917 | 37,125 | 117,686 | 107,699 | 105,181 | 99,445 | 104,786 | 108,512 |
| Inventory turnover | 6.02 | 6.16 | 5.26 | 4.64 | 4.58 | 6.97 | 3.70 | 5.26 | 7.08 | 9.41 | 5.93 | 6.70 | 6.53 | 21.35 | 6.53 | 7.00 | 6.98 | 7.09 | 7.03 | 6.42 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $765,718K ÷ $127,184K
= 6.02
The inventory turnover of Azenta Inc has shown fluctuations over the past eight quarters. The highest turnover was noted in Q4 2022 with a ratio of 3.51, indicating that inventory was sold and replaced 3.51 times during that period. This was followed by Q1 2024 and Q4 2023 with turnover ratios of 3.07 and 3.14 respectively, suggesting a consistent ability to sell and replenish inventory efficiently during these periods.
On the other hand, Q2 2022 had the lowest turnover of 0.29, reflecting a slow-moving inventory which was only turned over 0.29 times during that quarter. This was followed by Q3 2022 with a ratio of 1.56, indicating an improvement in the speed of selling and replacing inventory compared to the previous quarter.
Overall, the trend in inventory turnover for Azenta Inc shows variability, with some quarters exhibiting strong performance in managing inventory levels and others showing lower turnover rates. It is important for the company to analyze the reasons behind these fluctuations and aim for more consistent and efficient inventory management practices to optimize its operations and financial performance in the long term.
Peer comparison
Dec 31, 2023
Dec 31, 2023