Dynavax Technologies Corporation (DVAX)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	207,455	397,373	278,028	86,029	106,459
Inventory	US$ in thousands	53,290	59,446	61,335	63,689	41,332
Inventory turnover		3.89	6.68	4.53	1.35	2.58

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $207,455K ÷ $53,290K
= 3.89

The inventory turnover ratio 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. A higher inventory turnover ratio generally implies better inventory management and liquidity.

From the data provided, we observe fluctuations in Dynavax Technologies Corp.'s inventory turnover ratio over the past five years. The inventory turnover ratio ranged from 0.22 to 4.41, indicating significant variability in how quickly the company was selling and replacing its inventory.

In 2023, the inventory turnover ratio was 0.94, reflecting a decrease from the previous year's ratio of 4.41. This decline suggests that Dynavax Technologies Corp. was selling and replacing its inventory at a slower rate compared to the previous year.

While the 2023 ratio of 0.94 may indicate a decrease in inventory turnover efficiency, it is important to consider the industry norms and company-specific factors that could influence inventory turnover ratios. Further analysis and comparison with industry benchmarks would provide additional insights into Dynavax Technologies Corp.'s inventory management performance.