Neurocrine Biosciences Inc (NBIX)

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	929,000	891,900	868,900	823,200	776,400	731,600	698,000	656,700	583,300	536,300	492,700	445,300	431,200	427,750	397,039	380,571	353,004	328,943	306,406	285,743
Inventory	US$ in thousands	38,300	28,800	31,700	33,400	35,100	37,000	29,300	29,000	30,500	25,500	28,300	30,100	28,000	20,600	22,000	21,200	17,300	10,798	12,018	13,010
Inventory turnover		24.26	30.97	27.41	24.65	22.12	19.77	23.82	22.64	19.12	21.03	17.41	14.79	15.40	20.76	18.05	17.95	20.40	30.46	25.50	21.96

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $929,000K ÷ $38,300K
= 24.26

The inventory turnover ratio for Neurocrine Biosciences, Inc. fluctuated over the past eight quarters. The inventory turnover measures how many times a company's inventory is sold and replaced over a period.

In Q4 2023, the inventory turnover was at 1.04, indicating that the company's inventory turned over approximately 1.04 times during that quarter. This suggests that Neurocrine Biosciences may have been able to sell and replace its inventory relatively efficiently.

Comparing this to the previous quarters, the inventory turnover was higher in Q3 2023 at 1.35, reflecting a potential increase in sales efficiency. However, in Q2 2023 and Q1 2023, the inventory turnover decreased to 1.07 and 0.81, respectively, which might indicate a slower rate of inventory turnover during those periods.

Looking back further, in Q4 2022, the inventory turnover was at 0.66, and in Q3 2022, it was at 0.53. These lower ratios suggest that Neurocrine Biosciences had a slower turnover of inventory during those periods, which could be attributed to various factors such as changes in demand or supply chain disruptions.

Overall, fluctuations in the inventory turnover ratio can provide insights into the company's operational efficiency, inventory management practices, and overall sales performance. Further analysis and comparison with industry benchmarks would be beneficial in evaluating Neurocrine Biosciences' inventory turnover performance in a broader context.