TTM Technologies Inc (TTMI)

Inventory turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cost of revenue	US$ in thousands	2,164,350	2,313,010	2,105,140	2,057,460	2,569,190
Inventory	US$ in thousands	213,075	170,639	127,612	115,651	113,753
Inventory turnover		10.16	13.55	16.50	17.79	22.59

December 31, 2023 calculation

Inventory turnover = Cost of revenue ÷ Inventory
= $2,164,350K ÷ $213,075K
= 10.16

TTM Technologies Inc's inventory turnover has been gradually decreasing over the past five years. In 2019, the inventory turnover was 22.59, indicating that the company was able to sell and replace its inventory approximately 22.59 times during the year. However, this figure has steadily declined to 10.16 in 2023.

A decreasing inventory turnover ratio may suggest that TTM Technologies Inc is being less efficient in managing its inventory. It could indicate potential issues such as overstocking, slow-moving inventory, or difficulties in forecasting demand accurately.

Further analysis is recommended to understand the underlying reasons for the declining inventory turnover and to implement strategies to improve inventory management efficiency.