Omnicell Inc (OMCL)
Inventory turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 641,235 | 650,272 | 706,960 | 577,365 | 478,916 |
| Inventory | US$ in thousands | 88,659 | 110,099 | 147,549 | 119,924 | 96,298 |
| Inventory turnover | 7.23 | 5.91 | 4.79 | 4.81 | 4.97 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $641,235K ÷ $88,659K
= 7.23
Omnicell Inc's inventory turnover has exhibited a fluctuating trend over the past five years. In 2020, the inventory turnover stood at 4.97, indicating the company's ability to convert its inventory into sales almost five times during that year. Despite a slight decrease to 4.81 in 2021 and 4.79 in 2022, the company managed its inventory efficiently during these periods.
A significant improvement was observed in 2023 with the inventory turnover increasing to 5.91, suggesting a more rapid conversion of inventory to sales during that year. This upward trend continued in 2024, with the inventory turnover reaching 7.23, signaling that Omnicell Inc effectively managed its inventory to generate more sales relative to its inventory levels.
Overall, the increasing trend in inventory turnover from 2020 to 2024 highlights Omnicell Inc's enhanced efficiency in managing its inventory, which is a positive indicator of the company's operational performance and potential for generating revenue.
Peer comparison
Dec 31, 2024