CTS Corporation (CTS)

Inventory turnover

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 Jun 30, 2020 Mar 31, 2020
Cost of revenue (ttm) US$ in thousands 326,237 329,332 334,847 345,881 359,563 368,210 378,624 377,318 376,331 368,914 347,069 335,824 328,305 324,772 324,923 300,664 285,004 281,017 282,740 304,590
Inventory US$ in thousands 53,578 57,288 51,670 57,784 60,031 65,384 62,556 63,470 62,260 63,465 64,158 52,454 49,506 50,867 48,972 47,558 45,870 41,492 44,266 45,679
Inventory turnover 6.09 5.75 6.48 5.99 5.99 5.63 6.05 5.94 6.04 5.81 5.41 6.40 6.63 6.38 6.63 6.32 6.21 6.77 6.39 6.67

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $326,237K ÷ $53,578K
= 6.09

The inventory turnover ratio for CTS Corporation has shown some fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio ranged from a low of 5.41 on June 30, 2022, to a high of 6.77 on September 30, 2020. Overall, the company has maintained a relatively steady average inventory turnover rate, indicating that it is effectively managing its inventory levels. However, the slight decline in inventory turnover in recent periods, such as on June 30, 2024, and September 30, 2024, may suggest that CTS Corporation could be experiencing challenges in efficiently converting its inventory into sales. Further analysis of the company's inventory management practices and sales strategies may be warranted to identify and address any potential inefficiencies.