Myriad Genetics Inc (MYGN)

Inventory turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	252,200	236,200	202,000	197,600	178,200
Inventory	US$ in thousands	27,500	22,000	20,100	15,300	27,100
Inventory turnover		9.17	10.74	10.05	12.92	6.58

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $252,200K ÷ $27,500K
= 9.17

The inventory turnover ratio for Myriad Genetics Inc has shown fluctuation over the past five years.

At the end of December 31, 2020, the company had an inventory turnover of 6.58, indicating that its inventory was turned over around 6.58 times during that year. This suggests that the company managed its inventory efficiently.

By the end of December 31, 2021, the inventory turnover ratio had improved significantly to 12.92, indicating that the company was able to turn over its inventory almost 13 times during the year. This suggests a more efficient inventory management system or possibly better demand forecasting.

In the subsequent years, the inventory turnover ratio remained healthy, although there were fluctuations. By December 31, 2022, the ratio was 10.05, followed by 10.74 by December 31, 2023, and dropping slightly to 9.17 by December 31, 2024. Despite the slight decrease in 2024, the inventory turnover ratio remained at a level that indicates effective management of the company's inventory.

Overall, the trend in Myriad Genetics Inc's inventory turnover ratios over the past five years suggests that the company has been effectively managing its inventory levels to meet demand and optimize its operations.