LeMaitre Vascular Inc (LMAT)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	152,513	128,204	115,893	96,592	94,210
Inventory	US$ in thousands	60,080	51,771	48,204	47,215	41,427
Inventory turnover		2.54	2.48	2.40	2.05	2.27

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $152,513K ÷ $60,080K
= 2.54

The inventory turnover ratio for Lemaitre Vascular Inc has shown some fluctuations over the past five years. In 2023, the inventory turnover ratio was 1.14, indicating that the company's inventory was turned over approximately 1.14 times during the year. This was a slight decrease from the previous year, where the ratio was 1.25.

Overall, the trend in inventory turnover seems to have been somewhat inconsistent, with fluctuations between 1.08 and 1.30 over the past five years. This could suggest varying levels of efficiency in managing and selling inventory within the company. Further analysis would be needed to understand the reasons behind these fluctuations and to assess the effectiveness of Lemaitre Vascular Inc's inventory management practices.