Quidel Corporation (QDEL)

Inventory turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	1,496,400	1,710,100	1,330,000	427,656	312,813
Inventory	US$ in thousands	533,700	577,800	524,100	198,765	113,798
Inventory turnover		2.80	2.96	2.54	2.15	2.75

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $1,496,400K ÷ $533,700K
= 2.80

Quidel Corporation's inventory turnover ratio over the past five years has exhibited some variation. In 2020, the company had an inventory turnover ratio of 2.75, which indicates that the company converted its inventory into sales approximately 2.75 times during that year. However, in 2021, the ratio decreased to 2.15, suggesting a slower rate of inventory turnover.

By the end of 2022, Quidel Corporation managed to improve its inventory turnover to 2.54, indicating progress in efficiently managing its inventory. In the following year, 2023, the company's inventory turnover ratio further increased to 2.96, reflecting an even more efficient utilization of inventory resources.

In 2024, the inventory turnover ratio dipped slightly to 2.80, showing a small decrease compared to the previous year. Overall, Quidel Corporation's inventory turnover ratios have fluctuated over the years, with improvements in some periods and slight declines in others. It is important for the company to continuously monitor and manage its inventory effectively to ensure optimal turnover and efficient use of resources.