Integra LifeSciences Holdings (IART)

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	1,387,983	1,353,185	1,320,159	1,290,343	1,277,573	1,298,051	1,306,436	1,312,094	1,314,932	968,259	956,898	868,540	838,523	1,161,829	1,189,389	1,279,783	1,279,910	1,278,812	1,279,890	1,279,285
Inventory	US$ in thousands	389,608	366,251	354,293	351,275	324,583	311,060	320,208	328,005	317,386	327,167	323,618	328,049	310,117	307,839	358,756	338,082	316,054	302,622	296,505	286,962
Inventory turnover		3.56	3.69	3.73	3.67	3.94	4.17	4.08	4.00	4.14	2.96	2.96	2.65	2.70	3.77	3.32	3.79	4.05	4.23	4.32	4.46

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,387,983K ÷ $389,608K
= 3.56

Integra Lifesciences Holdings Corp's inventory turnover ratio has shown a declining trend over the past six quarters. The ratio decreased progressively from 1.91 in Q3 2022 to 1.69 in Q4 2023. This indicates that the company's inventory turnover has been slowing down, which may suggest inefficiencies in managing inventory levels or potential challenges in selling products in a timely manner. A lower inventory turnover ratio could also signal excess inventory levels, leading to holding costs and potentially obsolete or slow-moving inventory issues. Management should closely monitor and assess the reasons behind the decreasing trend in inventory turnover to optimize inventory management practices and improve operational efficiency.