Coherent Inc (COHR)
Inventory turnover
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 2,784,192 | 3,666,613 | 3,538,746 | 3,393,746 | 3,251,743 | 3,231,008 | 3,208,724 | 3,386,821 | 3,541,817 | 3,241,061 | 2,927,074 | 2,463,629 | 2,041,554 | 1,981,003 | 1,968,194 | 1,946,405 | 1,909,004 | 1,852,778 | 1,740,644 | 1,784,772 |
| Inventory | US$ in thousands | 1,437,600 | 1,391,520 | 1,344,560 | 1,386,150 | 1,286,400 | 1,291,700 | 1,291,630 | 1,280,760 | 1,272,330 | 1,394,100 | 1,367,380 | 1,346,940 | 902,559 | 879,510 | 819,091 | 747,413 | 695,828 | 673,744 | 656,993 | 639,833 |
| Inventory turnover | 1.94 | 2.63 | 2.63 | 2.45 | 2.53 | 2.50 | 2.48 | 2.64 | 2.78 | 2.32 | 2.14 | 1.83 | 2.26 | 2.25 | 2.40 | 2.60 | 2.74 | 2.75 | 2.65 | 2.79 |
June 30, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,784,192K ÷ $1,437,600K
= 1.94
The inventory turnover ratio of Coherent Inc. over the analyzed period demonstrates fluctuations that reveal insights into inventory management efficiency and operational trends. Starting from a high of 2.79 at the end of September 2020, the ratio experienced a gradual decline, reaching a low of approximately 1.83 by the end of September 2022. This indicates a period during which inventory was turning over less frequently, potentially reflecting increased inventory holdings, slower sales, or strategic inventory buildup.
Throughout 2022, the ratio showed some recovery, rising to approximately 2.78 at the end of June 2023 and maintaining a relatively stable level around 2.45 to 2.63 in the subsequent quarters. The peak in June 2023 suggests improved inventory management or increased sales velocity during that period. Conversely, the decline observed in June 2025 to 1.94 suggests a significant decrease in inventory turnover, which may point to challenges in sales performance, overstocking, or strategic shifts in inventory policies.
Overall, the trend indicates periods of both efficiency and inefficiency in inventory management, with notable dips that could correspond to external market conditions, internal operational changes, or strategic inventory holding. The recent stabilization around a ratio of approximately 2.45 to 2.63 suggests a period of relative consistency in inventory movement, though the notable decline at the end of the observed period warrants further analysis to understand underlying causes.
Peer comparison
Jun 30, 2025
Jun 30, 2025