Quest Diagnostics Incorporated (DGX)

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 6,199,000 6,222,000 6,299,000 6,364,000 6,450,000 6,593,000 6,645,000 6,599,000 6,579,000 6,594,000 6,504,000 6,160,000 5,804,000 5,335,000 5,019,000 5,063,000 5,037,000 5,008,000 4,966,000 4,944,000
Inventory US$ in thousands 190,000 184,000 184,000 190,000 192,000 183,000 187,000 197,000 208,000 205,000 199,000 223,000 223,000 205,000 154,000 126,000 123,000 112,000 105,000 98,000
Inventory turnover 32.63 33.82 34.23 33.49 33.59 36.03 35.53 33.50 31.63 32.17 32.68 27.62 26.03 26.02 32.59 40.18 40.95 44.71 47.30 50.45

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $6,199,000K ÷ $190,000K
= 32.63

Quest Diagnostics, Inc. has maintained a relatively stable inventory turnover ratio over the past eight quarters, ranging from a low of 32.63 in Q4 2023 to a high of 36.03 in Q3 2022. This indicates that the company is efficiently managing its inventory levels, with an average turnover of approximately 34.23 times per year during this period. The consistency in the inventory turnover ratio suggests that Quest Diagnostics has a good handle on its inventory management processes, effectively converting inventory into sales. The slight fluctuations in the ratio could be attributed to seasonal variations or changes in demand for the company's products and services. Overall, the company's inventory turnover performance appears robust and in line with industry standards.


Peer comparison

Dec 31, 2023

Dec 31, 2023

Company name
Symbol
Inventory turnover
Quest Diagnostics Incorporated
DGX
32.63
Fulgent Genetics Inc
FLGT
31.71
Laboratory Corporation of America Holdings
LH
19.83
RadNet Inc
RDNT