Exelixis Inc (EXEL)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	615,252	517,765	454,588	329,627	261,341
Inventory	US$ in thousands	17,323	33,299	27,493	20,973	12,886
Inventory turnover		35.52	15.55	16.53	15.72	20.28

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $615,252K ÷ $17,323K
= 35.52

Exelixis Inc's inventory turnover has exhibited fluctuations over the past five years. The company's inventory turnover ratio was 35.52 in 2023, significantly higher than the ratios of 15.55 in 2022, 16.53 in 2021, 15.72 in 2020, and 20.28 in 2019. This indicates that Exelixis Inc is managing its inventory more efficiently in 2023 compared to previous years. A higher inventory turnover ratio suggests that the company is selling its inventory more quickly, which can be a positive indicator of operational efficiency and effective inventory management. It is essential to continue monitoring this ratio to ensure sustained efficient utilization of the company's inventory resources.