Fulgent Genetics Inc (FLGT)
Inventory turnover
Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
---|---|---|---|---|---|---|
Cost of revenue | US$ in thousands | 176,255 | 184,757 | 252,067 | 215,533 | 89,807 |
Inventory | US$ in thousands | 8,384 | 5,827 | 4,280 | 12,206 | 16,491 |
Inventory turnover | 21.02 | 31.71 | 58.89 | 17.66 | 5.45 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $176,255K ÷ $8,384K
= 21.02
Fulgent Genetics Inc's inventory turnover has shown a significant improvement over the years based on the data provided. The inventory turnover ratio was 5.45 times in 2020, which indicates that the company sold and replaced its inventory 5.45 times during that period.
By the end of 2021, the inventory turnover ratio increased to 17.66, highlighting a substantial improvement in managing and selling its inventory efficiently. This suggests that Fulgent Genetics Inc was able to turn over its inventory almost three times faster compared to the previous year.
In 2022, the inventory turnover ratio further surged to 58.89, reaching an exceptionally high level. This indicates that the company was able to swiftly sell and restock its inventory during that period, reflecting strong inventory management practices.
The inventory turnover ratio dropped to 31.71 by the end of 2023, indicating a slight decrease from the previous year but still at a relatively high level, depicting effective inventory management capabilities.
As of December 31, 2024, the inventory turnover ratio stood at 21.02, showing a slight decrease from the previous year but still reflecting a healthy turnover of inventory.
Overall, the trend in Fulgent Genetics Inc's inventory turnover ratios indicates an overall improvement in efficiently managing and selling inventory over the years, with fluctuations in performance typical of a dynamic business environment.
Peer comparison
Dec 31, 2024