Qorvo Inc (QRVO)

Inventory turnover

		Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Cost of revenue	US$ in thousands	2,183,380	2,281,010	2,272,460	2,359,550	2,131,740
Inventory	US$ in thousands	640,992	710,555	796,596	755,748	507,787
Inventory turnover		3.41	3.21	2.85	3.12	4.20

March 31, 2025 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $2,183,380K ÷ $640,992K
= 3.41

Based on the provided data, the inventory turnover for Qorvo Inc has shown a fluctuating trend over the past five years. The inventory turnover ratio indicates how efficiently the company is managing its inventory by measuring the number of times inventory is sold and replaced within a specific period.

In March 31, 2021, Qorvo Inc had an inventory turnover of 4.20, demonstrating that the company was able to sell and replace its inventory approximately 4.20 times during that year. This suggests a relatively efficient inventory management system.

However, in the following years, the inventory turnover ratio decreased. By March 31, 2022, the ratio dropped to 3.12, indicating a slight decrease in the efficiency of inventory management. Further decline was seen by March 31, 2023, with an inventory turnover of 2.85, suggesting a potential slowdown in sales relative to inventory levels.

The company's inventory turnover slightly improved by March 31, 2024, reaching 3.21, but remained below the initial level in 2021. In the most recent year, March 31, 2025, the inventory turnover ratio increased to 3.41, showing a further improvement in managing inventory compared to the previous year.

Overall, the fluctuation in Qorvo Inc's inventory turnover ratio over the past five years indicates varying levels of efficiency in managing its inventory. Further analysis and comparison with industry benchmarks could provide additional insights into the company's inventory management performance.