Calix Inc (CALX)
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 | 555,464 | 719,665 | 701,855 | 659,902 | 683,223 | 626,185 | 571,565 | 532,079 | 503,709 | 489,810 | 469,677 | 448,692 | 419,135 | 395,604 | 383,670 | 366,765 | 358,547 | 359,570 | 356,036 | 332,337 |
| Inventory | US$ in thousands | 132,985 | 150,033 | 153,394 | 156,513 | 149,160 | 141,116 | 98,324 | 105,016 | 88,880 | 75,166 | 77,136 | 72,211 | 52,268 | 41,616 | 36,659 | 30,539 | 40,153 | 46,355 | 45,360 | 47,226 |
| Inventory turnover | 4.18 | 4.80 | 4.58 | 4.22 | 4.58 | 4.44 | 5.81 | 5.07 | 5.67 | 6.52 | 6.09 | 6.21 | 8.02 | 9.51 | 10.47 | 12.01 | 8.93 | 7.76 | 7.85 | 7.04 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $555,464K ÷ $132,985K
= 4.18
Inventory turnover is a key financial ratio that measures how efficiently a company manages its inventory. It is calculated by dividing the cost of goods sold by the average inventory level. A higher inventory turnover ratio indicates that a company is selling its inventory quickly and efficiently.
Looking at the data provided for Calix Inc, we can see a fluctuating trend in the company's inventory turnover over the past eight quarters. In Q4 2023, the inventory turnover ratio was 3.92, which was an improvement compared to the previous quarter at 3.26. This suggests that Calix Inc was able to sell its inventory at a faster rate in Q4 2023.
However, it's important to note that the company's inventory turnover ratio has been somewhat volatile over the past two years, ranging from a low of 2.82 in Q3 2022 to a high of 3.92 in Q4 2023. This variability may indicate fluctuations in demand, changes in inventory management practices, or other external factors impacting the business.
Overall, Calix Inc's inventory turnover performance appears to be relatively healthy, as the company has consistently maintained a ratio above 3 for most quarters, indicating efficient management of inventory levels. It would be beneficial for the company to continue monitoring and improving its inventory turnover ratio to ensure optimal efficiency in its operations.
Peer comparison
Dec 31, 2023
Dec 31, 2023