Plexus Corp (PLXS)

Inventory turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	3,874,154	3,973,387	4,064,124	4,002,436	3,889,159	2,852,980	2,592,421	2,438,552	1,586,028	2,368,512	2,430,060	2,463,035	2,467,009	2,496,173	1,633,864	1,586,613	2,336,487	2,251,411	2,983,924	2,912,622
Inventory	US$ in thousands	1,575,090	1,562,040	1,641,670	1,649,720	1,645,010	1,602,780	1,561,260	1,374,280	1,185,920	972,312	874,718	771,605	764,322	763,461	819,543	765,818	735,803	700,938	757,206	802,261
Inventory turnover		2.46	2.54	2.48	2.43	2.36	1.78	1.66	1.77	1.34	2.44	2.78	3.19	3.23	3.27	1.99	2.07	3.18	3.21	3.94	3.63

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,874,154K ÷ $1,575,090K
= 2.46

Plexus Corp's inventory turnover has fluctuated over the past few quarters, ranging from a low of 1.34 to a high of 3.94. Inventory turnover measures how quickly a company sells and replaces its inventory. A higher inventory turnover generally indicates that a company is managing its inventory efficiently.

In this case, Plexus Corp's inventory turnover has generally been increasing since the beginning of 2021, peaking at 3.94 in the first quarter of 2019. This upward trend could suggest improved inventory management or stronger demand for the company's products during this period.

However, it's important to note the dip in inventory turnover in the fourth quarter of 2022 and the first quarter of 2023, which could indicate potential challenges in managing inventory levels or slowing sales during those periods. Overall, further analysis of Plexus Corp's inventory levels, sales trends, and industry benchmarks would provide more insights into the implications of these inventory turnover ratios.