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