Boston Scientific Corp (BSX)

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	10,537,000	10,166,000	10,041,000	9,743,000	9,483,000	9,638,000	9,486,000	9,383,000	9,269,000	9,073,000	9,056,000	8,581,000	8,671,000	8,509,000	8,210,000	8,321,000	7,964,000	7,653,000	7,378,000	7,264,000
Inventory	US$ in thousands	2,484,000	2,404,000	2,250,000	2,050,000	1,867,000	1,788,000	1,752,000	1,736,000	1,610,000	1,603,000	1,430,000	1,407,000	1,351,000	1,472,000	1,516,000	1,628,000	1,579,000	1,566,000	1,300,000	1,228,000
Inventory turnover		4.24	4.23	4.46	4.75	5.08	5.39	5.41	5.40	5.76	5.66	6.33	6.10	6.42	5.78	5.42	5.11	5.04	4.89	5.68	5.92

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $10,537,000K ÷ $2,484,000K
= 4.24

Boston Scientific Corp.'s inventory turnover has displayed a decreasing trend over the last four quarters, dropping from 2.12 in Q4 2022 to 1.75 in Q4 2023. This decline could indicate inefficiencies in managing inventory levels or slowing sales. The company's average inventory turnover for the past two years has been relatively stable, hovering around 2. Results suggest that Boston Scientific may need to revisit its inventory management strategies to improve operational efficiency and optimize working capital utilization.