Ciena Corp (CIEN)
Inventory turnover
| Oct 28, 2023 | Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | Oct 31, 2017 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,507,700 | 2,072,320 | 1,898,700 | 1,879,270 | 1,555,900 |
| Inventory | US$ in thousands | 1,050,840 | 946,730 | 374,265 | 344,379 | 267,143 |
| Inventory turnover | 2.39 | 2.19 | 5.07 | 5.46 | 5.82 |
October 28, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $2,507,700K ÷ $1,050,840K
= 2.39
The inventory turnover ratio for CIENA Corp. has fluctuated over the past five years. In 2023, the inventory turnover ratio was 2.39, increasing from the previous year's ratio of 2.19. This suggests that the company's inventory was turned over more frequently in 2023. However, compared to 2021, when the inventory turnover ratio was 5.07, the ratio has decreased significantly. This indicates that in 2023, the company's inventory turnover was slower than in 2021. Similarly, the inventory turnover ratios for 2020 and 2019 were 5.46 and 5.88 respectively, implying a decreasing trend in inventory turnover over these years. Overall, the company's inventory turnover has exhibited variability, possibly signaling changes in sales patterns or inventory management practices.
Peer comparison
Oct 28, 2023