Biomarin Pharmaceutical Inc (BMRN)

Inventory turnover

		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	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	513,485	523,777	515,589	507,132	502,176	483,669	476,129	463,378	467,314	470,515	476,903	562,159	533,064	524,272	494,033	402,189	381,658	359,466	338,586	320,530
Inventory	US$ in thousands	1,137,980	1,107,180	1,032,160	975,546	918,921	894,083	839,460	802,315	786,356	776,669	749,406	710,975	713,929	698,548	700,847	743,852	705,652	680,275	609,049	578,736
Inventory turnover		0.45	0.47	0.50	0.52	0.55	0.54	0.57	0.58	0.59	0.61	0.64	0.79	0.75	0.75	0.70	0.54	0.54	0.53	0.56	0.55

March 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $513,485K ÷ $1,137,980K
= 0.45

Biomarin Pharmaceutical Inc's inventory turnover ratio has shown some fluctuations over the past few quarters. The ratio has ranged from a low of 0.45 to a high of 0.79, indicating the number of times the company's inventory was sold and replaced during the period.

A decreasing trend is observed from the end of 2021 to the first quarter of 2023, with the ratio gradually declining from 0.61 to 0.55. However, there was a notable increase in the inventory turnover ratio in the second and third quarters of 2023, rising to 0.64 and 0.79 respectively. This sharp increase may suggest more efficient management of inventory during those periods.

In the most recent quarter, the inventory turnover ratio decreased again to 0.45, which could indicate potential challenges in managing inventory levels efficiently or changing demand dynamics. Monitoring this ratio closely in future periods will be important to assess Biomarin Pharmaceutical Inc's inventory management effectiveness and operational performance.