3D Systems Corporation (DDD)

Inventory turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	828,620	843,219	555,290	585,698	598,247	600,412	595,804	605,038	606,275	604,073	559,843	587,870	563,496	568,359	631,378	594,719	622,977	641,214	657,105	665,490
Inventory	US$ in thousands	145,628	152,188	153,005	156,153	147,365	137,832	125,962	106,001	101,647	92,887	89,325	102,961	110,377	116,667	126,882	125,077	113,240	111,106	122,706	133,936
Inventory turnover		5.69	5.54	3.63	3.75	4.06	4.36	4.73	5.71	5.96	6.50	6.27	5.71	5.11	4.87	4.98	4.75	5.50	5.77	5.36	4.97

March 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $828,620K ÷ $145,628K
= 5.69

The inventory turnover ratio for 3D Systems Corporation has shown fluctuating trends over the past few quarters. Inventory turnover measures how efficiently a company is managing its inventory by indicating how many times a company sells and replaces its inventory during a specific period.

Looking at the data provided, we observe that the inventory turnover ratio has generally been on an upward trend from Jun 30, 2019, through Dec 31, 2021. This indicates an improvement in the company's inventory management efficiency during this period.

However, from Sep 30, 2021, onwards, there has been some variability in the inventory turnover ratio, with fluctuations seen in the values. The ratio decreased in the most recent quarter (Mar 31, 2024) compared to the previous quarter (Dec 31, 2023).

Overall, despite some fluctuations, the inventory turnover ratio for 3D Systems Corporation has maintained levels above 4.0, which generally indicates a healthy turnover of inventory and efficient management of stock levels.

It is important for stakeholders to monitor this ratio over time to ensure that the company is effectively managing its inventory and not holding excessive or obsolete stock, which can impact the company's financial performance.