ICU Medical Inc (ICUI)

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	1,519,253	1,506,051	1,548,121	1,584,549	1,582,236	1,392,202	1,189,010	993,747	824,818	812,360	808,734	807,681	809,507	810,313	794,589	805,907	794,344	798,699	802,362	802,609
Inventory	US$ in thousands	709,360	759,622	775,269	747,965	696,009	625,268	583,050	536,314	290,235	291,601	299,610	300,086	314,928	321,961	322,766	311,604	337,640	343,715	329,955	321,747
Inventory turnover		2.14	1.98	2.00	2.12	2.27	2.23	2.04	1.85	2.84	2.79	2.70	2.69	2.57	2.52	2.46	2.59	2.35	2.32	2.43	2.49

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,519,253K ÷ $709,360K
= 2.14

Based on the data provided, ICU Medical, Inc.'s inventory turnover has fluctuated over the past eight quarters. The trend shows some variability, with inventory turnover ratios ranging from 1.85 to 2.27. In general, a higher inventory turnover ratio indicates that the company is selling its inventory more efficiently.

For ICU Medical, Inc., the inventory turnover ratio has been relatively stable, with an average of approximately 2.09 over the past eight quarters. This suggests that the company is managing its inventory effectively, as it is able to sell and replenish its inventory on average every 2.09 quarters.

While there has been some quarterly variability in the inventory turnover ratio, ICU Medical, Inc. overall appears to have a consistent approach to managing its inventory levels. However, further analysis and comparison to industry benchmarks may provide additional insights into the company's inventory management efficiency.