NVIDIA Corporation (NVDA)

Inventory turnover

		Jan 28, 2024	Oct 29, 2023	Jul 30, 2023	Apr 30, 2023	Jan 29, 2023	Oct 30, 2022	Jul 31, 2022	May 1, 2022	Jan 30, 2022	Oct 31, 2021	Aug 1, 2021	May 2, 2021	Jan 31, 2021	Oct 25, 2020	Jul 26, 2020	Apr 26, 2020	Jan 26, 2020	Oct 27, 2019	Jul 28, 2019	Apr 28, 2019
Cost of revenue (ttm)	US$ in thousands	16,621,000	13,527,000	11,561,000	11,305,000	11,618,000	12,044,000	11,762,000	10,265,000	9,440,000	8,643,000	7,937,000	7,236,000	6,280,000	5,523,000	4,855,000	4,302,000	4,150,000	4,058,000	4,220,000	4,330,000
Inventory	US$ in thousands	5,282,000	4,779,000	4,319,000	4,611,000	5,159,000	4,454,000	3,889,000	3,163,000	2,605,000	2,233,000	2,114,000	1,992,000	1,826,000	1,495,000	1,401,000	1,128,000	979,000	1,047,000	1,204,000	1,426,000
Inventory turnover		3.15	2.83	2.68	2.45	2.25	2.70	3.02	3.25	3.62	3.87	3.75	3.63	3.44	3.69	3.47	3.81	4.24	3.88	3.50	3.04

January 28, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $16,621,000K ÷ $5,282,000K
= 3.15

NVIDIA Corp's inventory turnover for the past eight quarters has shown some fluctuations. The inventory turnover ratio measures how efficiently a company manages its inventory by indicating how many times it sells and replaces its inventory during a period.

In Q4 2024, the inventory turnover was 3.15, indicating that NVIDIA Corp sold and replaced its inventory approximately 3.15 times during that quarter. This represents an improvement compared to the previous quarter (Q3 2024) when the ratio was 2.83.

Looking at the trend over the past year, we can see that the inventory turnover ratio has generally been within the range of 2.25 to 3.25. The peak was in Q1 2023 at 3.25, and the lowest point was in Q4 2023 at 2.25.

Overall, the fluctuations in inventory turnover indicate that NVIDIA Corp has been managing its inventory efficiently, with some variation between quarters. Investors and stakeholders may consider these trends when evaluating the company's performance and management of its inventory levels.