Bruker Corporation (BRKR)

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	1,451,200	1,369,500	1,313,100	1,261,900	1,225,000	1,224,400	1,221,000	1,221,000	1,208,300	1,180,900	1,143,800	1,092,000	1,047,700	1,036,800	1,040,900	1,062,300	1,077,300	1,054,500	1,031,300	1,010,000
Inventory	US$ in thousands	968,300	916,000	914,600	858,800	800,100	749,500	759,000	739,900	710,100	732,800	730,200	700,700	692,300	695,900	665,400	625,500	577,200	586,700	594,600	541,800
Inventory turnover		1.50	1.50	1.44	1.47	1.53	1.63	1.61	1.65	1.70	1.61	1.57	1.56	1.51	1.49	1.56	1.70	1.87	1.80	1.73	1.86

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,451,200K ÷ $968,300K
= 1.50

Bruker Corp's inventory turnover ratio over the past eight quarters has shown a fluctuating trend. The inventory turnover ratio measures how efficiently the company is managing its inventory by indicating the number of times inventory is sold and replaced over a specific period.

In Q4 2023 and Q3 2023, the inventory turnover ratio remained constant at 1.50, indicating a stable pace of inventory turnover during these periods. However, there was a slight decrease in Q2 2023 to 1.44, followed by a modest increase in Q1 2023 to 1.47.

Comparing the recent quarters to the same periods in the previous year, there has been a downward trend in inventory turnover. Q4 2022 and Q3 2022 had higher inventory turnover ratios of 1.53 and 1.63, respectively, indicating that the company was selling and replenishing its inventory more frequently during these periods.

Overall, the inventory turnover ratio for Bruker Corp has shown some variability in recent quarters, with a general downward trend compared to the same periods in the previous year. This may suggest potential challenges in managing inventory efficiently or changes in sales patterns that impact the company's inventory turnover performance.