CTS Corporation (CTS)

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	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	311,424	312,512	310,695	307,423
Inventory	US$ in thousands	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	42,237	45,425	43,154	42,521
Inventory turnover		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	7.37	6.88	7.20	7.23

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $359,563K ÷ $60,031K
= 5.99

The inventory turnover for CTS Corp. has been relatively stable over the past eight quarters, ranging from 5.41 to 6.40. This indicates that, on average, the company is able to sell and replace its inventory multiple times a year. A higher inventory turnover ratio generally suggests efficient inventory management, while a lower ratio may imply slow-moving or obsolete inventory. CTS Corp.'s inventory turnover seems to be within a healthy range, reflecting effective inventory control and sales performance during the period under review.