Penumbra Inc (PEN)

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 444,593 437,483 429,978 385,556 375,879 360,981 346,104 325,775 311,926 307,701 299,555 290,818 272,208 266,229 256,177 230,784 222,237 196,787 180,138 180,232
Inventory US$ in thousands 406,737 393,413 373,799 398,366 388,023 374,245 358,770 344,042 334,006 320,304 295,883 274,349 263,504 258,316 254,977 245,321 219,527 191,547 183,442 166,152
Inventory turnover 1.09 1.11 1.15 0.97 0.97 0.96 0.96 0.95 0.93 0.96 1.01 1.06 1.03 1.03 1.00 0.94 1.01 1.03 0.98 1.08

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $444,593K ÷ $406,737K
= 1.09

Penumbra Inc's inventory turnover ratio has fluctuated over the given time period. It was relatively low around 1.00 for most quarters between March 2020 and June 2022, indicating that the company took longer to sell its inventory during those periods. However, there was a spike in inventory turnover in the June and September quarters of 2024, reaching 1.15 and 1.11 respectively, which suggests an improvement in inventory management efficiency.

Overall, the inventory turnover ratio for Penumbra Inc has shown some variability but generally hovers around the 1.00 mark, indicating that the company is effectively managing its inventory levels and optimizing its sales process. Further analysis is needed to understand the underlying reasons for the fluctuations in inventory turnover and its impact on the company's overall financial performance.