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.
Peer comparison
Dec 31, 2023
Dec 31, 2023
Company name
Symbol
Inventory turnover
Boston Scientific Corp
BSX
4.24
3M Company
MMM
3.83
Artivion Inc
AORT
4.26
Baxter International Inc
BAX
5.63
Becton Dickinson and Company
BDX
5.59
DexCom Inc
DXCM
4.53
Embecta Corp
EMBC
5.01
Glaukos Corp
GKOS
7.49
Globus Medical
GMED
0.65
Haemonetics Corporation
HAE
3.60
ICU Medical Inc
ICUI
2.14