Myriad Genetics Inc (MYGN)

Inventory turnover

		Jun 30, 2024	Mar 31, 2024	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	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Cost of revenue (ttm)	US$ in thousands	678,200	733,300	741,500	922,000	824,000	674,700	578,700	502,900	556,600	585,300	614,900	666,100	579,100	662,300	652,200	664,100	706,500	616,200	615,600	610,100
Inventory	US$ in thousands	26,100	24,600	22,000	25,100	22,500	21,800	20,100	19,600	15,400	15,600	15,300	18,600	17,700	24,600	26,600	29,100	30,800	28,100	28,100	31,400
Inventory turnover		25.98	29.81	33.70	36.73	36.62	30.95	28.79	25.66	36.14	37.52	40.19	35.81	32.72	26.92	24.52	22.82	22.94	21.93	21.91	19.43

June 30, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $678,200K ÷ $26,100K
= 25.98

Myriad Genetics Inc has shown a fluctuating trend in its inventory turnover over the past few quarters. The inventory turnover ratio measures how efficiently a company manages its inventory by indicating how many times the company sells and replaces its inventory over a period.

From September 2019 to September 2020, the inventory turnover ratio increased steadily from 19.43 to 24.52, indicating an improvement in inventory management efficiency. However, there was a slight decrease in the ratio in the following quarters, before experiencing a significant increase to 40.19 by March 2022. This spike suggests that the company was selling its inventory more frequently relative to previous periods.

Subsequently, there was a slight decline in inventory turnover ratios over the next few quarters, albeit still at relatively high levels compared to historical data. Overall, despite some fluctuations, Myriad Genetics Inc has generally demonstrated efficient inventory management practices over the analyzed period.