Azenta Inc (AZTA)
Inventory turnover
| 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 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 894,411 | 894,334 | 888,313 | 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 |
| Inventory | US$ in thousands | 115,256 | 115,270 | 122,351 | 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 |
| Inventory turnover | 7.76 | 7.76 | 7.26 | 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 |
September 30, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $894,411K ÷ $115,256K
= 7.76
Azenta Inc's inventory turnover has exhibited fluctuations over the past years. The inventory turnover ratio indicates how efficiently the company manages its inventory levels. A higher turnover ratio is generally better as it suggests that the company is selling its inventory quickly.
From Dec 2019 to Sep 2020, the inventory turnover ratio remained relatively stable around 6.50, indicating consistent inventory management. However, there was a significant spike in Sep 2020, with the ratio jumping to 21.35, which could suggest a sudden increase in sales relative to inventory levels during that period.
Subsequently, the turnover ratio fluctuated between 4.58 and 7.76 from Dec 2020 to Sep 2024. The ratio peaked at 7.76 in multiple quarters, indicating improved efficiency in inventory management. However, there were periods where the ratio decreased, such as in Mar 2024 and Sep 2022.
Overall, Azenta Inc's inventory turnover has shown some variability but generally indicates a reasonable level of efficiency in managing its inventory levels. It is essential for the company to monitor fluctuations in the ratio to ensure optimal inventory management and balance between sales and inventory levels.
Peer comparison
Sep 30, 2024
Sep 30, 2024