Impinj Inc (PI)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 262,461 | 203,173 | 163,474 | 137,404 | 136,050 |
| Inventory | US$ in thousands | 97,172 | 46,397 | 21,958 | 36,329 | 34,153 |
| Inventory turnover | 2.70 | 4.38 | 7.44 | 3.78 | 3.98 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $262,461K ÷ $97,172K
= 2.70
Impinj Inc's inventory turnover has fluctuated over the past five years, ranging from a low of 2.70 in 2023 to a high of 7.44 in 2021. A higher inventory turnover ratio indicates that the company is selling its inventory more quickly, which is generally a positive sign as it helps prevent excess inventory build-up. However, a significant decrease in inventory turnover from 2021 to 2023 may suggest potential inventory management issues or slower sales. It is important for Impinj Inc to closely monitor its inventory levels and sales to ensure efficient inventory turnover and optimize its working capital.
Peer comparison
Dec 31, 2023