Pfizer Inc (PFE)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 49,592,000 | 52,423,000 | 45,545,000 | 22,352,000 | 28,160,000 |
| Inventory | US$ in thousands | 10,189,000 | 8,981,000 | 9,059,000 | 8,020,000 | 7,068,000 |
| Inventory turnover | 4.87 | 5.84 | 5.03 | 2.79 | 3.98 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $49,592,000K ÷ $10,189,000K
= 4.87
Pfizer Inc.'s inventory turnover has varied over the past five years, indicating fluctuations in the efficiency of its inventory management. The inventory turnover ratio was relatively low in 2020 and 2019, standing at 1.08 and 1.23, respectively, suggesting that Pfizer took longer to sell its inventory during those years.
However, there was a significant improvement in inventory turnover in 2021, reaching 3.40, which indicates that Pfizer managed to sell its inventory more rapidly that year. This improvement was further enhanced in 2022, with the inventory turnover ratio jumping to 3.82, reflecting even better inventory management efficiency.
In 2023, the inventory turnover ratio decreased to 2.45, signaling a slight decrease in the speed at which Pfizer converted its inventory into sales compared to the previous year. Overall, while there have been fluctuations in Pfizer's inventory turnover, the trend has shown an overall improvement in inventory management efficiency over the past five years.
Peer comparison
Dec 31, 2023