New Oriental Education & Technology Group (New Oriental Education & Technology Group) Total Inventories

: $87 Mil (As of Nov. 2023)

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New Oriental Education & Technology Group's total inventories for the quarter that ended in Nov. 2023 was $87 Mil. New Oriental Education & Technology Group's average total inventories from the quarter that ended in Aug. 2023 to the quarter that ended in Nov. 2023 was $75 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. New Oriental Education & Technology Group's Net-Net Working Capital per share for the quarter that ended in Nov. 2023 was $7.33.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. New Oriental Education & Technology Group's Days Inventory for the three months ended in Nov. 2023 was 16.19.

Inventory Turnover measures how fast the company turns over its inventory within a year. New Oriental Education & Technology Group's Inventory Turnover for the quarter that ended in Nov. 2023 was 5.64.

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. New Oriental Education & Technology Group's Inventory-to-Revenue for the quarter that ended in Nov. 2023 was 0.09.

New Oriental Education & Technology Group Total Inventories Historical Data

The historical data trend for New Oriental Education & Technology Group's Total Inventories 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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New Oriental Education & Technology Group Annual Data

Trend

May14

May15

May16

May17

May18

May19

May20

May21

May22

May23

Total Inventories

29.05

31.32

31.18

27.93

52.69

New Oriental Education & Technology Group Quarterly Data
	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23
Total Inventories																74.61	62.73	52.69	63.27	86.64

New Oriental Education & Technology Group Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

New Oriental Education & Technology Group (NYSE:EDU) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

New Oriental Education & Technology Group's Net-Net Working Capital Per Share for the quarter that ended in Nov. 2023 is

	Net-Net Working Capital Per Share (Q: Nov. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(4446.482	+	0.75 * 33.484	+	0.5 * 86.638	-	3035.687
-	0	-	266.188)	/	165.512
=	7.33

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

New Oriental Education & Technology Group's Days Inventory for the three months ended in Nov. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Nov. 2023 )	/	Cost of Goods Sold (Q: Nov. 2023 )	*	Days in Period
	=	74.954	/	422.558	*	365 / 4
	=	16.19

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

New Oriental Education & Technology Group's Inventory Turnover for the quarter that ended in Nov. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Nov. 2023 )	/	Average Total Inventories (Q: Nov. 2023 )
	=	422.558	/	74.954
	=	5.64

4. 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.

New Oriental Education & Technology Group's Inventory to Revenue for the quarter that ended in Nov. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Nov. 2023 )	/	Revenue (Q: Nov. 2023 )
	=	74.954	/	869.6
	=	0.09

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

New Oriental Education & Technology Group Total Inventories Related Terms

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New Oriental Education & Technology Group (New Oriental Education & Technology Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » New Oriental Education & Technology Group Inc (NYSE:EDU) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

EDUN:Mexico 09901:Hong Kong 0K75:UK N1U0:Germany E1DU34:Brazil

Address

No. 6 Hai Dian Zhong Street, Haidian District, Beijing, CHN, 100080

Website

https://www.neworiental.org

New Oriental is a leading private education provider in China. K-9 academic after-school tutoring used to account for 50%-60% of New Oriental's revenue before the regulatory crackdown in 2021. After terminating its K-9 academic after-school tutoring business, New Oriental has identified a few new initiatives such as nonacademic tutoring and intelligent learning systems and devices. The remaining businesses include high school academic after-school tutoring and overseas-related test preparation and consulting business. It also owns 55.7% of East Buy (HKG: 01797), a market leader in livestreaming e-commerce.