Quidel Corporation (QDEL)

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	1,601,200	1,642,100	1,643,200	1,599,100	1,564,700	1,559,600	1,560,000	1,467,200	1,332,001	1,062,026	822,054	616,578	427,656	387,840	343,951	326,530	312,813	262,442	220,636	216,706
Inventory	US$ in thousands	533,700	577,000	602,000	583,100	577,800	551,700	542,200	528,600	524,100	536,200	552,700	181,388	198,765	196,976	218,506	174,669	113,798	95,221	92,618	58,708
Inventory turnover		3.00	2.85	2.73	2.74	2.71	2.83	2.88	2.78	2.54	1.98	1.49	3.40	2.15	1.97	1.57	1.87	2.75	2.76	2.38	3.69

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,601,200K ÷ $533,700K
= 3.00

The inventory turnover ratio of Quidel Corporation, which reflects how efficiently the company manages its inventory, has fluctuated over the past few years.

In March 2020, the inventory turnover ratio was 3.69, indicating that the company turned over its inventory nearly 4 times during that period. However, the ratio decreased to 1.57 in June 2021, suggesting a decline in the efficiency of managing inventory.

The ratio gradually increased to 3.40 by March 2022, showing an improvement in inventory turnover efficiency. Subsequently, the ratio fluctuated between 1.49 to 3.00 until December 2024.

Overall, Quidel Corporation's inventory turnover ratio has shown variability over the years, with periods of both improvement and decline. It is essential for the company to effectively manage its inventory to ensure optimal utilization of resources and maintain its operational efficiency.