Impinj Inc (PI)
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 | 274,336 | 269,391 | 258,173 | 260,596 | 262,461 | 255,659 | 247,656 | 226,607 | 203,173 | 188,305 | 177,833 | 167,615 | 163,474 | 156,653 | 145,192 | 137,573 | 137,404 | 138,086 | 143,203 | 144,554 |
| Inventory | US$ in thousands | 99,346 | 88,357 | 80,773 | 87,757 | 97,172 | 106,806 | 112,323 | 85,809 | 46,397 | 31,925 | 32,047 | 31,561 | 21,958 | 18,434 | 24,064 | 28,067 | 36,329 | 37,982 | 37,091 | 31,763 |
| Inventory turnover | 2.76 | 3.05 | 3.20 | 2.97 | 2.70 | 2.39 | 2.20 | 2.64 | 4.38 | 5.90 | 5.55 | 5.31 | 7.44 | 8.50 | 6.03 | 4.90 | 3.78 | 3.64 | 3.86 | 4.55 |
December 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $274,336K ÷ $99,346K
= 2.76
The inventory turnover ratio for Impinj Inc has exhibited fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio gives insight into how efficiently the company manages its inventory by indicating the number of times the inventory is sold and replaced within a specific timeframe.
Initially, the inventory turnover ratio stood at 4.55 on March 31, 2020, indicating that the company turned over its inventory approximately 4.55 times during that period. Subsequently, the ratio fluctuated, with a noticeable decline in the ratio to 3.64 on September 30, 2020, and then recovering slightly to 3.78 on December 31, 2020.
From March 31, 2021, there was a significant improvement in inventory turnover, with the ratio increasing to 4.90 and showing an increasing trend in the subsequent quarters, peaking at 8.50 on September 30, 2021. This suggests that the company was managing its inventory efficiently during this period, possibly through better inventory management practices or increased demand for its products.
However, from December 31, 2021, to December 31, 2024, the inventory turnover ratio experienced a decrease, with the ratio fluctuating between 2.64 and 3.20. This decline may indicate challenges in managing inventory levels efficiently or changes in market demand impacting the pace of inventory turnover.
Overall, the analysis of Impinj Inc's inventory turnover ratio highlights fluctuations in the company's inventory management efficiency over the period, with periods of improvement followed by declines. Further examination into the underlying reasons for these fluctuations could provide valuable insights into the company's operational performance and strategic direction.
Peer comparison
Dec 31, 2024
Dec 31, 2024