Teleflex Incorporated (TFX)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	2,544,790	2,374,590	2,379,150	2,221,590	2,278,700
Inventory	US$ in thousands	626,216	578,507	477,643	513,196	476,557
Inventory turnover		4.06	4.10	4.98	4.33	4.78

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $2,544,790K ÷ $626,216K
= 4.06

Teleflex Incorporated's inventory turnover has slightly decreased from 2.18 in 2022 to 2.12 in 2023. This implies that the company's inventory was turned over approximately 2.12 times during the year, indicating a moderate efficiency in managing its inventory. Comparing the current ratio to previous years, it appears lower than the 2.64 in 2021 and 2.36 in 2020 but higher than 2.32 in 2019. This suggests a fluctuation in the efficiency of inventory management over the years. Further analysis, considering industry benchmarks and other factors, would be beneficial to provide deeper insights into Teleflex's inventory management performance.