Analysis of Inventory
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Net Profit Margin since 2019
- Total Asset Turnover since 2019
- Aggregate Accruals
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Inventory Disclosure
Shockwave Medical Inc., balance sheet: inventory
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw material | |||||||||||
| Work in progress | |||||||||||
| Finished goods | |||||||||||
| Inventory |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
- Inventory Trends Analysis
- The inventory levels over the five-year period show a notable upward trajectory. The total inventory, measured in thousands of US dollars, increased from 12,074 in 2019 to 107,587 in 2023, representing a substantial growth.
- Raw Material
- The raw material component of the inventory rose consistently year-over-year, exhibiting growth from 2,501 in 2019 to 25,670 in 2023. This increase reflects a more than tenfold rise, indicating either increased procurement or stockpiling of raw materials.
- Work in Progress
- Work in progress inventory showed variability across the timeline. Starting at 1,364 in 2019, it jumped significantly to 13,315 by 2021, then declined to 7,666 in 2022, before climbing again to 16,499 in 2023. The volatility here suggests fluctuations in production processes or changes in manufacturing cycle efficiency.
- Finished Goods
- The finished goods inventory also experienced substantial growth, increasing from 8,209 in 2019 to 65,418 in 2023. The trend indicates an accumulation of completed inventory, which could imply an expansion in production output or slower sales leading to stock build-up.
- Observations on Inventory Composition
- Throughout the period, finished goods consistently represent the largest portion of inventory, followed by work in progress and raw materials. The pronounced increase in finished goods and raw materials relative to work in progress in the final year suggests a strategic emphasis on maintaining higher levels of completed products and procurement inputs.