Proto Labs Inc (PRLB)
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 | 442,475 | 440,234 | 435,231 | 435,594 | 429,661 | 424,682 | 427,423 | 416,250 | 410,213 | 391,639 | 364,958 | 351,950 | 340,862 | 342,268 | 348,271 | 352,985 | 349,780 | 350,538 | 345,556 | 337,902 |
| Inventory | US$ in thousands | 13,657 | 13,803 | 14,311 | 14,273 | 13,578 | 14,617 | 15,051 | 14,227 | 13,161 | 9,813 | 9,111 | 9,918 | 10,862 | 10,402 | 10,774 | 10,507 | 10,075 | 9,448 | 9,688 | 9,356 |
| Inventory turnover | 32.40 | 31.89 | 30.41 | 30.52 | 31.64 | 29.05 | 28.40 | 29.26 | 31.17 | 39.91 | 40.06 | 35.49 | 31.38 | 32.90 | 32.33 | 33.60 | 34.72 | 37.10 | 35.67 | 36.12 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $442,475K ÷ $13,657K
= 32.40
Proto Labs Inc's inventory turnover ratio has been relatively stable over the past eight quarters, ranging from 18.34 to 20.64. The company's inventory turnover indicates how efficiently it manages its inventory by measuring how many times it sells and replaces its inventory over a specific period.
A higher inventory turnover ratio typically indicates that the company is selling its products quickly and efficiently, which can lead to less risk of obsolete inventory or carrying excess inventory. Proto Labs Inc's inventory turnover has consistently stayed above 18, indicating that the company is effectively managing its inventory levels.
However, fluctuations in the inventory turnover ratio from quarter to quarter can also signify changes in demand, production efficiency, or inventory management practices. It's essential for Proto Labs Inc to monitor trends in inventory turnover to ensure optimal inventory management and maximize profitability.
Overall, Proto Labs Inc's inventory turnover ratio has remained solid and indicates effective inventory management practices within the company.
Peer comparison
Dec 31, 2023
Dec 31, 2023