Danaher Corporation (DHR)

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	18,002,000	21,692,000	21,896,000	21,655,000	21,788,000	21,697,000	21,401,000	21,073,000	20,447,000	19,653,000	19,189,000	18,532,000	17,219,000	14,580,800	13,996,400	13,817,400	14,140,700	14,509,700	13,169,600	11,805,700
Inventory	US$ in thousands	2,594,000	3,024,000	3,183,000	3,383,000	2,765,000	3,236,000	3,257,000	3,072,000	2,767,000	2,737,000	2,547,000	2,424,000	2,292,000	2,421,700	2,592,900	2,575,000	1,628,000	2,023,700	2,055,900	2,027,900
Inventory turnover		6.94	7.17	6.88	6.40	7.88	6.70	6.57	6.86	7.39	7.18	7.53	7.65	7.51	6.02	5.40	5.37	8.69	7.17	6.41	5.82

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $18,002,000K ÷ $2,594,000K
= 6.94

The inventory turnover ratio for Danaher Corp. has fluctuated over the past eight quarters, ranging from a low of 3.65 in Q1 2023 to a high of 4.04 in Q3 2023. The average inventory turnover ratio over this period is approximately 3.85.

A high inventory turnover ratio indicates that the company is efficiently managing its inventory levels and selling products quickly. On the other hand, a lower ratio may suggest that the company is holding onto inventory for longer periods, potentially leading to higher carrying costs and reducing overall profitability.

Overall, Danaher Corp. has generally maintained a healthy inventory turnover ratio, with some variation quarter to quarter. Further analysis would be needed to identify any specific trends or factors driving these fluctuations and to assess the impact on the company's overall financial performance.