Iridium Communications Inc (IRDM)
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 | 145,206 | 147,590 | 146,362 | 137,685 | 125,104 | 116,455 | 110,212 | 105,520 | 102,074 | 101,520 | 96,254 | 93,384 | 91,552 | 90,377 | 92,680 | 92,549 | 95,565 | 93,517 | 97,838 | 101,135 |
| Inventory | US$ in thousands | 91,135 | 71,136 | 55,762 | 37,335 | 39,776 | 39,222 | 27,793 | 28,241 | 29,044 | 23,388 | 28,294 | 30,015 | 32,480 | 33,309 | 37,331 | 37,695 | 39,938 | 38,571 | 37,256 | 35,179 |
| Inventory turnover | 1.59 | 2.07 | 2.62 | 3.69 | 3.15 | 2.97 | 3.97 | 3.74 | 3.51 | 4.34 | 3.40 | 3.11 | 2.82 | 2.71 | 2.48 | 2.46 | 2.39 | 2.42 | 2.63 | 2.87 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $145,206K ÷ $91,135K
= 1.59
The inventory turnover for Iridium Communications Inc has fluctuated over the past eight quarters, ranging from a low of 2.47 in Q4 2023 to a high of 6.10 in Q2 2022. The inventory turnover ratio indicates how efficiently the company is managing its inventory by measuring how many times during a period the company is able to sell and replace its inventory.
A lower inventory turnover ratio suggests that the company is holding onto its inventory for a longer period, which may lead to potential issues such as excess inventory or obsolescence. On the other hand, a higher inventory turnover ratio indicates that the company is selling and replacing its inventory more frequently, which could signal efficient inventory management.
Overall, the trend in Iridium Communications Inc's inventory turnover shows some variability, with fluctuations in the efficiency of inventory management over the past eight quarters. A deeper analysis would be needed to determine the factors driving these fluctuations and their potential impact on the company's operations and financial performance.
Peer comparison
Dec 31, 2023
Dec 31, 2023