Bio-Techne Corp (TECH)

Inventory turnover

		Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Cost of revenue	US$ in thousands	980,252	816,620	797,301	688,073	577,175
Inventory	US$ in thousands	179,731	171,638	141,123	116,748	103,152
Inventory turnover		5.45	4.76	5.65	5.89	5.60

June 30, 2024 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $980,252K ÷ $179,731K
= 5.45

Bio-Techne Corp's inventory turnover has been relatively stable over the past five years, ranging from 4.76 to 5.89 times. A higher inventory turnover indicates that the company is selling its inventory more quickly, which can be a positive sign of efficiency and effective inventory management. However, a decreasing trend in inventory turnover could also suggest potential issues such as overstocking or slow-moving inventory. In the most recent year, the inventory turnover ratio was 5.45, showing a moderate decline compared to the previous year. Further analysis, considering industry benchmarks and company-specific factors, would be necessary to fully assess the implications of Bio-Techne Corp's inventory turnover performance.