Fulgent Genetics Inc (FLGT)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 184,757 | 252,067 | 215,533 | 89,807 | 14,107 |
| Inventory | US$ in thousands | 5,827 | 4,280 | 12,206 | 16,491 | 277 |
| Inventory turnover | 31.71 | 58.89 | 17.66 | 5.45 | 50.93 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $184,757K ÷ $5,827K
= 31.71
The inventory turnover of Fulgent Genetics Inc has shown fluctuations over the past five years. In 2020, the company had a relatively low inventory turnover of 5.45, indicating that the company took approximately 5.45 times to sell its entire inventory during the year.
The inventory turnover ratio then significantly increased in 2021 to 17.66, which may suggest an improvement in the company's inventory management efficiency as it was able to turn over its inventory more frequently during the year.
In the subsequent year, 2022, the inventory turnover ratio further increased to 58.89, indicating a considerable improvement in the company's inventory turnover efficiency. This significant increase could be due to various factors such as better inventory management practices, enhanced demand forecasting, or streamlined operational processes.
It is noteworthy that there was missing data for the inventory turnover ratio in 2023. The absence of this data point makes it challenging to assess the company's recent inventory turnover performance accurately.
Overall, the trend in Fulgent Genetics Inc's inventory turnover ratio shows a notable improvement over the years, suggesting enhanced efficiency in managing and selling its inventory.
Peer comparison
Dec 31, 2023