Bio-Techne Corp (TECH)

Inventory turnover

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Cost of revenue	US$ in thousands	429,363	389,335	366,887	349,103	298,182
Inventory	US$ in thousands	189,446	179,731	171,638	141,123	116,748
Inventory turnover		2.27	2.17	2.14	2.47	2.55

June 30, 2025 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $429,363K ÷ $189,446K
= 2.27

The inventory turnover ratios for Bio-Techne Corp over the specified fiscal periods exhibit a declining trend initially, followed by a slight stabilization. As of June 30, 2021, the ratio was 2.55, indicating that inventory was sold and replaced approximately 2.55 times during the year. By June 30, 2022, the ratio decreased marginally to 2.47, suggesting a slight slowdown in inventory turnover. The trend continued with a more notable decline to 2.14 by June 30, 2023, which may indicate a longer duration of inventory holding or decreased sales efficiency. Subsequently, the ratio experienced a marginal increase to 2.17 in June 2024, and then a further uptick to 2.27 in June 2025, signaling a modest recovery in inventory management effectiveness. Overall, the data reflects a period of gradual decline in inventory turnover from 2021 through 2023, followed by minor improvement in the subsequent years. This pattern could be indicative of changes in sales volume, inventory management strategies, or product mix, warranting further analytical investigation to understand underlying operational factors.