Orthofix Medical (Orthofix Medical) Inventory Turnover : 0.28 (As of Mar. 2024)

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What is Orthofix Medical Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Orthofix Medical's Cost of Goods Sold for the three months ended in Mar. 2024 was $61.4 Mil. Orthofix Medical's Average Total Inventories for the quarter that ended in Mar. 2024 was $220.6 Mil. Orthofix Medical's Inventory Turnover for the quarter that ended in Mar. 2024 was 0.28.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Orthofix Medical's Days Inventory for the three months ended in Mar. 2024 was 328.06.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Orthofix Medical's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 1.17.

Orthofix Medical Inventory Turnover Historical Data

The historical data trend for Orthofix Medical's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Orthofix Medical Inventory Turnover Chart

Orthofix Medical Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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1.26

1.22

1.37

1.35

1.62

Orthofix Medical Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Inventory Turnover	Get a 7-Day Free Trial															0.40	0.30	0.29	0.29	0.28

Orthofix Medical Inventory Turnover Calculation

Orthofix Medical's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	260.368	/ (	(100.15	+	222.166)	/	2 )
=	260.368	/	161.158
=	1.62

Orthofix Medical's Inventory Turnover for the quarter that ended in Mar. 2024 is calculated as

	Inventory Turnover (Q: Mar. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Mar. 2024 )	/ (	(Total Inventories (Q: Dec. 2023 )	+	Total Inventories (Q: Mar. 2024 ))	/	count )
=	61.366	/ (	(222.166	+	219.076)	/	2 )
=	61.366	/	220.621
=	0.28

Orthofix Medical (NAS:OFIX) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Orthofix Medical's Days Inventory for the three months ended in Mar. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2024 )	/	Cost of Goods Sold (Q: Mar. 2024 )	*	Days in Period
	=	220.621	/	61.366	*	365 / 4
	=	328.06

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Orthofix Medical's Inventory to Revenue for the quarter that ended in Mar. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	220.621	/	188.608
	=	1.17

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Orthofix Medical Inventory Turnover Related Terms

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Orthofix Medical (Orthofix Medical) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Orthofix Medical Inc (NAS:OFIX) » Definitions » Inventory Turnover

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Traded in Other Exchanges

OM2:Germany

Address

3451 Plano Parkway, Lewisville, TX, USA, 75056

Website

https://www.orthofix.com

Orthofix Medical Inc. is a medical device company delivering orthopedic and spine solutions to healthcare providers. The company has two main segments: global spine, including bone growth and healing therapies, spinal implants, and regenerative tissue products; and global orthopedics, providing products used in fracture repair, deformity correction, and bone reconstruction procedures. The majority of the company's sales come from the global spine segment in the United States. Orthofix distributes its products throughout North America, Europe, and several countries globally. The company provides solutions to hospitals, physicians, other healthcare providers, and patients.

Executives

James F. Hinrichs	director	3750 TORREY VIEW COURT, SAN DIEGO CA 92130
Puja Leekha	officer: CECO & Interim CLO	3451 PLANO PARKWAY, LEWISVILLE TX 75056
Geoffrey C Gillespie	officer: VP, Controller, Interim CFO	3451 PLANO PARKWAY, LEWISVILLE TX 75056
Kevin J. Kenny	officer: President of Global Spine	C/O CARDIOVASCULAR SYSTEMS, INC., 1225 OLD HIGHWAY 8 NW, ST. PAUL MN 55112
Shweta Maniar	director	C/O SEASPINE HOLDINGS CORP, 5770 ARMADA DRIVE, CARLSBAD CA 92008
Stuart Essig	director	311 C ENTERPRISE DRIVE, PLAINSBORO NJ 08536
John J. Bostjancic	officer: CFO	C/O SEASPINE HOLDINGS CORPORATION, 2302 LA MIRADA DRIVE, VISTA CA 92081
Keith Valentine	director, officer: President & CEO	7475 LUSK BLVD., SAN DIEGO CA 92121
Henneman John B Iii	director	311 C ENTERPRISE DRIVE, PLAINSBORO NJ 08536
Patrick L Keran	officer: Chief Legal Officer	6725 MESA RIDGE RD., SUITE 100, SAN DIEGO CA 92121
Thomas A. West	director	C/O INTERSECT, INC., 1555 ADAMS DRIVE, MENLO PARK CA 94025
Michael E Paolucci	director	7475 LUSK BLVD., SAN DIEGO CA 92121
Catherine M Burzik	director
Rice Doug	officer: CFO	3451 PLANO PARKWAY, LEWISVILLE TX 75056
Kimberley A. Elting	officer: Chief Legal Officer	3451 PLANO PARKWAY, LEWISVILLE TX 75056