Repligen Corporation (RGEN)

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	593,430	614,956	594,114	605,850	601,073	587,878	570,689	534,711	493,507	440,378	383,487	339,445	298,031	270,523	257,800	247,818	232,002	212,457	190,545	170,716
Inventory	US$ in thousands	202,321	211,372	240,869	244,704	238,277	242,695	239,117	213,775	184,494	156,163	135,509	109,520	95,025	78,531	69,929	61,781	54,832	51,579	51,275	44,920
Inventory turnover		2.93	2.91	2.47	2.48	2.52	2.42	2.39	2.50	2.67	2.82	2.83	3.10	3.14	3.44	3.69	4.01	4.23	4.12	3.72	3.80

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $593,430K ÷ $202,321K
= 2.93

Repligen Corp.'s inventory turnover ratio has displayed fluctuations over the past eight quarters. The ratio ranged from a low of 1.36 in Q2 2022 to a high of 1.75 in Q4 2023. Generally, a higher inventory turnover ratio indicates that the company is selling its inventory more efficiently, while a lower ratio suggests that inventory is not being sold as quickly.

The trend of Repligen Corp.'s inventory turnover ratio shows some variability, with slight improvements or declines in different quarters. Specifically, there seems to be a general improvement in inventory turnover from Q2 2022 to Q4 2023, with fluctuations in between.

It is important for Repligen Corp. to monitor its inventory turnover ratio consistently to ensure optimal management of its inventory levels. A high turnover ratio indicates efficient inventory management, which can lead to reduced holding costs and potential obsolescence. On the other hand, a low turnover ratio may signal excess inventory or inability to sell products quickly, leading to potential liquidity issues or decreased profitability.