Universal Display (OLED)
Inventory turnover
| Dec 31, 2024 | Sep 30, 2024 | 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 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 164,037 | 162,704 | 156,435 | 145,574 | 135,376 | 129,455 | 132,603 | 127,703 | 127,896 | 130,041 | 124,126 | 124,856 | 114,991 | 109,746 | 101,643 | 86,317 | 85,478 | 76,682 | 70,590 | 82,019 |
| Inventory | US$ in thousands | 182,938 | 175,958 | 171,843 | 172,905 | 175,795 | 181,406 | 175,855 | 174,245 | 183,220 | 180,194 | 165,635 | 143,240 | 134,160 | 121,485 | 104,653 | 101,422 | 91,591 | 84,098 | 84,523 | 74,068 |
| Inventory turnover | 0.90 | 0.92 | 0.91 | 0.84 | 0.77 | 0.71 | 0.75 | 0.73 | 0.70 | 0.72 | 0.75 | 0.87 | 0.86 | 0.90 | 0.97 | 0.85 | 0.93 | 0.91 | 0.84 | 1.11 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $164,037K ÷ $182,938K
= 0.90
The inventory turnover for Universal Display over the past several quarters has varied, indicating changes in the efficiency of managing inventory. It is calculated by dividing the cost of goods sold by the average inventory for a specific period.
The inventory turnover ratio for Universal Display ranged from 0.70 to 1.11 during the period from March 31, 2020, to December 31, 2024. The highest value was observed on March 31, 2020, at 1.11, suggesting that inventory was turned over more than once during that quarter.
On the other hand, the lowest turnover ratio was recorded on June 30, 2022, at 0.75, indicating a slower rate of inventory turnover in that period.
Overall, there seems to be a fluctuating trend in inventory turnover for Universal Display, with some quarters showing higher turnover efficiency than others. It is essential for the company to closely monitor and manage its inventory levels to optimize efficiency and profitability.
Peer comparison
Dec 31, 2024
Dec 31, 2024