Enovis Corp (ENOV)
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 | 1,814,454 | 1,838,423 | 1,799,798 | 1,788,585 | 2,160,718 | 4,431,106 | 4,787,657 | 5,133,898 | 5,024,359 | 3,291,379 | 2,985,175 | 2,579,114 | 2,339,327 | 2,346,667 | 2,363,233 | 2,516,548 | 2,471,312 | 2,512,092 | 2,386,464 | 2,222,807 |
| Inventory | US$ in thousands | 468,832 | 470,913 | 453,897 | 438,957 | 426,643 | 416,872 | 400,852 | 852,814 | 356,233 | 780,984 | 663,540 | 606,208 | 564,822 | 536,052 | 556,708 | 561,675 | 571,558 | 584,351 | 594,800 | 739,535 |
| Inventory turnover | 3.87 | 3.90 | 3.97 | 4.07 | 5.06 | 10.63 | 11.94 | 6.02 | 14.10 | 4.21 | 4.50 | 4.25 | 4.14 | 4.38 | 4.25 | 4.48 | 4.32 | 4.30 | 4.01 | 3.01 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,814,454K ÷ $468,832K
= 3.87
Based on the inventory turnover data provided for Enovis Corp, we observe fluctuations in the efficiency of managing its inventory over the past eight quarters.
In Q4 2023, the inventory turnover ratio stands at 1.53, indicating that the company sold and replaced its inventory 1.53 times during that quarter. This represents an improvement compared to the previous quarter (Q3 2023) where the ratio was 0.59, suggesting a significant increase in inventory turnover efficiency.
However, the inventory turnover ratios in Q2 2023 (0.60) and Q1 2023 (0.62) were relatively low, which could suggest potential inefficiencies in managing inventory levels during those periods.
In comparison to the same quarter in the previous year, there has been a notable decline in inventory turnover. For instance, in Q4 2022, the ratio was 1.63, indicating that Enovis Corp was turning over its inventory at a faster rate.
Overall, the trend in inventory turnover for Enovis Corp has been fluctuating over the past eight quarters, indicating potential challenges or changes in the company's inventory management practices that may need further investigation.
Peer comparison
Dec 31, 2023
Dec 31, 2023