Enovis Corp (ENOV)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	1,817,200	1,768,880	3,868,350	3,168,900	3,368,320
Inventory	US$ in thousands	468,832	426,643	356,233	564,822	571,558
Inventory turnover		3.88	4.15	10.86	5.61	5.89

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $1,817,200K ÷ $468,832K
= 3.88

The inventory turnover of Enovis Corp has been declining over the past five years, decreasing from 3.37 in 2019 to 1.53 in 2023. This trend indicates that the company is taking longer to sell its inventory relative to the previous years. A lower inventory turnover can suggest potential issues such as overstocking, slow sales, or poor inventory management. Enovis Corp should closely monitor their inventory levels and sales processes to improve efficiency and optimize their inventory turnover ratio.

Peer comparison

Dec 31, 2023

Company name

Symbol

Inventory turnover

Enovis Corp

ENOV

3.88

Flowserve Corporation