Biomarin Pharmaceutical Inc (BMRN)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	514,854	483,669	470,515	524,272	359,466
Inventory	US$ in thousands	1,107,180	894,083	776,669	698,548	680,275
Inventory turnover		0.47	0.54	0.61	0.75	0.53

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $514,854K ÷ $1,107,180K
= 0.47

The inventory turnover ratio of Biomarin Pharmaceutical Inc has shown a decreasing trend over the past five years. In 2023, the company's inventory turnover ratio was 0.47, down from 0.54 in 2022, and 0.61 in 2021. This indicates that Biomarin is selling its inventory less frequently compared to previous years. A lower inventory turnover ratio may suggest inefficiencies in managing inventory levels or slower sales. Further analysis is needed to understand the reasons behind this decline and to assess its impact on the company's overall liquidity and profitability.