Fulgent Genetics Inc (FLGT)
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 | 184,757 | 194,198 | 208,915 | 221,699 | 252,067 | 259,484 | 243,390 | 219,183 | 215,533 | 205,171 | 187,966 | 159,825 | 89,807 | 41,669 | 19,293 | 15,196 | 14,107 | 13,242 | 11,969 | 10,893 |
| Inventory | US$ in thousands | 5,827 | 4,877 | 5,531 | 4,722 | 4,280 | 7,509 | 11,942 | 10,612 | 12,206 | 21,950 | 25,373 | 25,684 | 16,491 | 17,747 | 2,155 | 1,531 | 277 | 244 | 405 | 423 |
| Inventory turnover | 31.71 | 39.82 | 37.77 | 46.95 | 58.89 | 34.56 | 20.38 | 20.65 | 17.66 | 9.35 | 7.41 | 6.22 | 5.45 | 2.35 | 8.95 | 9.93 | 50.93 | 54.27 | 29.55 | 25.75 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $184,757K ÷ $5,827K
= 31.71
The inventory turnover ratio for Fulgent Genetics Inc has shown fluctuations over the past eight quarters. In Q1 2022, the ratio was recorded at 20.65, indicating that the company turned over its inventory approximately 20.65 times during that quarter. This figure increased slightly in Q2 2022 to 20.38 before experiencing a significant jump in Q3 2022 to 34.56. The trend continued to improve in Q4 2022, reaching 58.89, indicating that Fulgent Genetics was able to sell and replace its inventory almost 59 times during that quarter.
However, in the following quarters, there was a downward trend in the inventory turnover ratio. Q1 2023 saw a decrease to 46.95, followed by a further drop in Q2 2023 to 37.77, and another decline in Q3 2023 to 39.82. Notably, the inventory turnover ratio for Q4 2023 is not provided, but based on the trend observed throughout the year, it is likely that the ratio may have continued to decrease.
Overall, it is essential for Fulgent Genetics Inc to monitor and manage its inventory effectively to ensure optimal turnover rates. A higher inventory turnover ratio typically indicates efficient inventory management, while a declining ratio may suggest potential issues such as overstocking or slow-moving inventory that could impact the company's financial performance and liquidity. Tracking this ratio over time can help identify trends and areas for improvement in inventory management practices.
Peer comparison
Dec 31, 2023
Dec 31, 2023