Bristol-Myers Squibb Company (BMY)

Inventory turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	31,769,000	28,033,000	28,446,000	31,009,000	11,773,000
Inventory	US$ in thousands	2,557,000	2,662,000	2,339,000	2,095,000	2,074,000
Inventory turnover		12.42	10.53	12.16	14.80	5.68

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $31,769,000K ÷ $2,557,000K
= 12.42

The inventory turnover of Bristol-Myers Squibb Company has shown a positive trend over the past five years. The ratio has increased from 5.68 in December 31, 2020, to 14.80 in December 31, 2021, indicating a significant improvement in inventory management efficiency.

Although there was a slight decrease in inventory turnover to 12.16 in December 31, 2022, and further to 10.53 in December 31, 2023, the company maintained a relatively high level of inventory turnover compared to the base year.

By the end of December 31, 2024, the inventory turnover ratio increased again to 12.42, showing that Bristol-Myers Squibb Company effectively managed its inventory turnover, converting inventory into sales at a faster pace.

Overall, the increasing trend in inventory turnover reflects the company's ability to efficiently manage its inventory levels, which could lead to improved liquidity and profitability.