Qorvo Inc (QRVO)

Inventory turnover

		Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Cost of revenue	US$ in thousands	2,281,010	2,272,460	2,359,550	2,131,740	1,917,380
Inventory	US$ in thousands	710,555	796,596	755,748	507,787	517,198
Inventory turnover		3.21	2.85	3.12	4.20	3.71

March 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $2,281,010K ÷ $710,555K
= 3.21

The inventory turnover ratio for Qorvo Inc has fluctuated over the past five years, standing at 3.21 in fiscal year 2024, down from 3.71 in 2020. This indicates that the company is selling its inventory 3.21 times during the most recent fiscal year. A higher inventory turnover ratio suggests that the company is managing its inventory efficiently by quickly selling and replenishing its stock. However, the decrease in the ratio from 2020 to 2024 may indicate potential issues such as overstocking or declining sales. Further analysis is needed to understand the reasons behind these fluctuations and to assess the overall effectiveness of the company's inventory management practices.