Integer Holdings Corp (ITGR)
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 | 1,051,727 | 1,387,452 | 1,338,023 | 1,295,163 | 1,238,881 | 1,183,638 | 1,145,418 | 1,103,354 | 1,074,237 | 1,037,766 | 959,701 | 916,821 | 942,859 | 715,848 | 776,849 | 812,302 | 804,553 | 1,040,444 | 1,044,678 | 1,046,267 |
| Inventory | US$ in thousands | 239,716 | 232,158 | 228,931 | 225,282 | 208,766 | 210,459 | 194,458 | 173,313 | 155,699 | 149,235 | 147,836 | 153,815 | 149,323 | 156,858 | 172,458 | 170,298 | 167,256 | 197,977 | 187,154 | 181,200 |
| Inventory turnover | 4.39 | 5.98 | 5.84 | 5.75 | 5.93 | 5.62 | 5.89 | 6.37 | 6.90 | 6.95 | 6.49 | 5.96 | 6.31 | 4.56 | 4.50 | 4.77 | 4.81 | 5.26 | 5.58 | 5.77 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,051,727K ÷ $239,716K
= 4.39
Integer Holdings Corp's inventory turnover has shown some fluctuations over the past eight quarters. In Q4 2023, the inventory turnover was 4.92, slightly lower than the previous quarter at 4.95. This indicates that the company is selling and replacing its inventory approximately 4.92 times during the quarter.
The overall trend in inventory turnover seems relatively stable, with some variations seen quarter to quarter. It peaked in Q1 2022 at 5.24 and hit a low of 4.63 in Q3 2022. This suggests that the company has been managing its inventory efficiently, with a relatively consistent rate of turnover.
A high inventory turnover ratio typically signifies strong sales or efficient inventory management, while a low ratio could indicate overstocking or slow-moving inventory. Integer Holdings Corp's inventory turnover ratios seem to be within a reasonable range, indicating a good balance between managing inventory levels and meeting customer demand. These ratios can provide insights into the company's operational efficiency and supply chain management, serving as a valuable metric for investors and stakeholders.
Peer comparison
Dec 31, 2023
Dec 31, 2023