Regeneron Pharmaceuticals Inc (REGN)

Inventory turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	2,840,300	1,931,200	1,870,100	1,713,600	1,562,500	2,368,000	2,272,300	2,331,400	2,287,000	1,801,000	1,644,200	1,437,900	1,399,600	1,706,700	1,803,300	1,876,000	1,919,500	1,746,614	1,692,346	1,636,230
Inventory	US$ in thousands	2,580,500	2,562,000	2,507,700	2,424,700	2,401,900	2,412,200	2,218,500	1,991,500	1,951,300	2,053,800	1,983,900	2,164,700	1,916,600	1,801,600	1,640,900	1,480,900	1,415,500	1,344,300	1,317,200	1,208,800
Inventory turnover		1.10	0.75	0.75	0.71	0.65	0.98	1.02	1.17	1.17	0.88	0.83	0.66	0.73	0.95	1.10	1.27	1.36	1.30	1.28	1.35

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,840,300K ÷ $2,580,500K
= 1.10

Regeneron Pharmaceuticals, Inc.'s inventory turnover ratio has exhibited fluctuations over the past eight quarters. The inventory turnover has ranged from a low of 0.33 in Q4 2022 and Q1 2023 to a high of 0.90 in Q2 2022. The downward trend in inventory turnover from Q2 2022 to Q1 2023 indicates that the company took longer to sell its inventory during those periods.

A low inventory turnover may imply inefficiencies in inventory management, resulting in excess or obsolete inventory. On the other hand, a higher inventory turnover reflects that the company is efficiently selling its inventory.

Further analysis of factors influencing inventory turnover, such as sales growth, production efficiency, and supply chain management, would provide a more comprehensive understanding of Regeneron Pharmaceuticals, Inc.'s inventory management practices.