Repligen Corporation (RGEN)

Inventory turnover

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Cost of revenue (ttm) US$ in thousands 322,168 327,210 354,461 348,468 353,922 356,486 338,366 345,319 345,830 337,178 326,159 301,889 279,280 245,395 209,526 184,399 156,634 138,592 130,391 124,236
Inventory US$ in thousands 142,964 182,465 190,528 198,033 202,321 211,372 240,869 244,704 238,277 242,695 239,117 213,775 184,494 156,163 135,509 109,520 95,025 78,531 69,929 61,781
Inventory turnover 2.25 1.79 1.86 1.76 1.75 1.69 1.40 1.41 1.45 1.39 1.36 1.41 1.51 1.57 1.55 1.68 1.65 1.76 1.86 2.01

December 31, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $322,168K ÷ $142,964K
= 2.25

The inventory turnover ratio of Repligen Corporation has shown fluctuations over the reporting periods provided. The ratio indicates how efficiently the company manages its inventory by measuring how many times the inventory is sold and replaced within a specific time frame.

From March 31, 2020, to December 31, 2020, the inventory turnover decreased from 2.01 to 1.65, indicating a slower rate of inventory turnover during that period. This trend continued into the first half of 2021, with a slight increase to 1.68 by March 31, 2021, before declining to 1.51 by December 31, 2021.

During 2022 and the first half of 2023, the inventory turnover ratio remained relatively stable, fluctuating around the range of 1.36 to 1.76. However, there was a notable increase in inventory turnover starting from September 30, 2023, where the ratio reached 1.69 and continued to rise to 2.25 by December 31, 2024.

The increasing trend in inventory turnover from late 2023 to the end of 2024 may suggest improved inventory management efficiency or increased sales volume relative to inventory levels. A higher inventory turnover ratio generally indicates that the company is selling its products more quickly, which can positively impact cash flow and profitability. Further analysis is needed to understand the underlying reasons for these fluctuations and their implications for Repligen Corporation's overall operations and financial performance.