Novanta Inc (NOVT)
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 | 688,486 | 690,954 | 697,284 | 694,400 | 682,856 | 679,677 | 648,402 | 612,748 | 586,095 | 536,752 | 512,116 | 493,889 | 487,572 | 504,420 | 515,225 | 523,784 | 525,542 | 517,659 | 517,901 | 512,952 |
| Inventory | US$ in thousands | 149,371 | 153,809 | 162,904 | 166,671 | 167,997 | 162,807 | 153,887 | 139,166 | 125,657 | 119,422 | 94,974 | 89,944 | 92,737 | 101,737 | 107,380 | 112,003 | 116,618 | 118,573 | 113,297 | 106,784 |
| Inventory turnover | 4.61 | 4.49 | 4.28 | 4.17 | 4.06 | 4.17 | 4.21 | 4.40 | 4.66 | 4.49 | 5.39 | 5.49 | 5.26 | 4.96 | 4.80 | 4.68 | 4.51 | 4.37 | 4.57 | 4.80 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $688,486K ÷ $149,371K
= 4.61
The inventory turnover of Novanta Inc has been relatively stable over the past eight quarters, ranging from 2.87 to 3.23 times annually. The company is able to convert its inventory into sales between 2.87 to 3.23 times throughout the year, indicating efficient management of inventory levels. The highest turnover was recorded in Q4 2023, at 3.23, suggesting effective inventory management during that period. Overall, Novanta Inc's inventory turnover ratios show consistency and efficiency in managing its inventory levels and converting them into sales.
Peer comparison
Dec 31, 2023
Dec 31, 2023
Company name
Symbol
Inventory turnover
Novanta Inc
NOVT
4.61
Edgewell Personal Care Co
EPC
2.72
Energizer Holdings Inc
ENR
3.77
Integer Holdings Corp
ITGR
4.39