Bio-Techne Corp (TECH)

Inventory turnover

		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	Dec 31, 2019	Sep 30, 2019
Cost of revenue (ttm)	US$ in thousands	673,422	848,681	827,961	786,090	777,723	822,616	873,875	935,137	919,432	866,636	782,029	696,005	657,412	531,504	504,565	479,657	473,804	474,689	468,973	462,507
Inventory	US$ in thousands	179,731	179,496	180,839	186,080	171,638	169,464	160,233	150,009	141,123	128,283	121,858	117,366	116,748	109,990	106,590	106,003	103,152	99,673	95,351	90,855
Inventory turnover		3.75	4.73	4.58	4.22	4.53	4.85	5.45	6.23	6.52	6.76	6.42	5.93	5.63	4.83	4.73	4.52	4.59	4.76	4.92	5.09

June 30, 2024 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $673,422K ÷ $179,731K
= 3.75

Inventory turnover is a key financial ratio that measures the efficiency with which a company manages its inventory levels. Bio-Techne Corp's inventory turnover ratio has shown some variability over the past few quarters, ranging from a low of 3.75 to a high of 6.76.

A higher inventory turnover ratio generally indicates that the company is selling its inventory more quickly, which can be a positive sign of efficient inventory management and strong sales. On the other hand, a lower ratio may suggest slower sales or excess inventory levels.

In the latest quarter (June 30, 2024), Bio-Techne Corp's inventory turnover ratio was 4.73, indicating that the company turned over its inventory approximately 4.73 times during the quarter. This suggests a moderate level of inventory efficiency.

Overall, Bio-Techne Corp's inventory turnover ratio has generally been in the range of 4 to 6 over the past few years, which indicates a consistent level of inventory management efficiency. Monitoring this ratio over time can provide insights into the company's inventory management practices and sales performance.