TTM Technologies Inc (TTMI)

Inventory turnover

		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	Jun 30, 2019	Mar 31, 2019
Cost of revenue (ttm)	US$ in thousands	2,081,503	2,119,334	2,156,703	2,221,142	2,313,009	2,288,636	2,194,438	2,133,292	2,085,273	2,034,633	2,063,112	2,082,920	2,057,460	2,232,813	2,364,716	2,315,984	2,340,895	2,343,665	2,364,444	2,556,208
Inventory	US$ in thousands	213,075	206,176	186,765	176,728	170,639	205,370	209,960	137,343	127,612	140,055	126,355	121,124	115,651	127,588	122,847	120,949	113,753	126,324	122,149	114,800
Inventory turnover		9.77	10.28	11.55	12.57	13.55	11.14	10.45	15.53	16.34	14.53	16.33	17.20	17.79	17.50	19.25	19.15	20.58	18.55	19.36	22.27

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,081,503K ÷ $213,075K
= 9.77

TTM Technologies Inc's inventory turnover has shown a general increasing trend over the past few years, indicating improved efficiency in managing its inventory. The company's inventory turnover ratio has ranged from 9.77 to 22.27 over the period from March 2019 to December 2023.

A higher inventory turnover ratio suggests that the company is selling its inventory more frequently within a given period, which can be a positive indicator of efficient inventory management and strong sales. TTM Technologies Inc's inventory turnover has consistently been above 10, indicating that the company is effectively managing its inventory levels.

The significant increase in inventory turnover from March 2020 to June 2020, peaking at 22.27, suggests a period of rapid inventory turnover, possibly due to increased demand or efficient inventory management practices.

Overall, TTM Technologies Inc's inventory turnover ratios show a positive trend, reflecting the company's ability to efficiently convert its inventory into sales. However, it is essential to monitor this ratio continuously to ensure optimal inventory management.