Quidel Corporation (QDEL)

Inventory turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022
Cost of revenue (ttm)	US$ in thousands	2,353,500	2,404,300	2,411,600	2,283,200
Inventory	US$ in thousands	577,800	551,700	542,200	528,600	524,100	536,200	552,700
Inventory turnover		4.07	4.36	4.45	4.32

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,353,500K ÷ $577,800K
= 4.07

The inventory turnover ratio for Quidel Corporation has been relatively stable over the past four quarters, ranging from 4.07 to 4.45. This indicates that, on average, the company is able to sell and replace its inventory approximately 4 times per year. A higher inventory turnover ratio is generally preferred as it signifies efficient inventory management and potentially lower carrying costs. Quidel's inventory turnover ratios suggest that the company effectively manages its inventory levels and can convert its inventory into sales at a reasonable pace. Additionally, the consistency of the ratios across the quarters indicates a stable operational performance in terms of inventory management.