Repligen Corporation (RGEN)

Inventory turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cost of revenue	US$ in thousands	359,794	354,517	345,830	279,280	156,634
Inventory	US$ in thousands	202,321	202,321	238,277	184,494	95,025
Inventory turnover		1.78	1.75	1.45	1.51	1.65

December 31, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $359,794K ÷ $202,321K
= 1.78

Repligen Corporation's inventory turnover has experienced fluctuations over the past five years. The inventory turnover ratio, calculated by dividing the cost of goods sold by the average inventory value, indicates how efficiently the company manages its inventory. A higher turnover ratio suggests that inventory is sold and replenished quickly.

In 2020, the inventory turnover ratio was 1.65, signifying that the company turned over its inventory approximately 1.65 times during the year. However, this ratio decreased slightly to 1.51 in 2021 and further to 1.45 in 2022, which could indicate potential issues with inventory management efficiency.

The trend improved in 2023 and 2024, with inventory turnover ratios of 1.75 and 1.78, respectively. These higher ratios suggest that Repligen Corporation was able to sell and replace its inventory at a faster pace during these years.

Overall, while there were fluctuations in the inventory turnover ratio over the five-year period, the recent increase in ratio values indicates a potential improvement in inventory management efficiency for Repligen Corporation.