Empire Petroleum (Empire Petroleum) Total Inventories : $1.43 Mil (As of Dec. 2023)

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What is Empire Petroleum Total Inventories?

Empire Petroleum's total inventories for the quarter that ended in Dec. 2023 was $1.43 Mil. Empire Petroleum's average total inventories from the quarter that ended in Sep. 2023 to the quarter that ended in Dec. 2023 was $1.50 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Empire Petroleum's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $-1.68.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Empire Petroleum's Days Inventory for the three months ended in Dec. 2023 was 14.01.

Inventory Turnover measures how fast the company turns over its inventory within a year. Empire Petroleum's Inventory Turnover for the quarter that ended in Dec. 2023 was 6.51.

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. Empire Petroleum's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.15.

Empire Petroleum Total Inventories Historical Data

The historical data trend for Empire Petroleum'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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Empire Petroleum Total Inventories Chart

Empire Petroleum Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

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0.48

0.53

1.04

1.84

1.43

Empire Petroleum Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Total Inventories	Get a 7-Day Free Trial															1.84	2.26	1.54	1.57	1.43

Empire Petroleum 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.

Empire Petroleum (AMEX:EP) 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.

Empire Petroleum's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(7.793	+	0.75 * 8.355	+	0.5 * 1.433	-	57.659
-	0	-	0)	/	25.5035
=	-1.68

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

Empire Petroleum's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	1.499	/	9.764	*	365 / 4
	=	14.01

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

Empire Petroleum's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	9.764	/	1.499
	=	6.51

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.

Empire Petroleum's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	1.499	/	9.914
	=	0.15

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.

Empire Petroleum Total Inventories Related Terms

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Empire Petroleum (Empire Petroleum) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Empire Petroleum Corp (AMEX:EP) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

N/A

Address

2200 South Utica Place, Suite 150, Tulsa, OK, USA, 74114

Website

http://www.empirepetroleumcorp.com

Empire Petroleum Corp is engaged in the exploration and development of oil and natural gas in the United States. All of the company's producing properties are located in Louisiana, Texas, North Dakota, and New Mexico. It generates revenue from Oil and Gas sales.

Executives

Marchive Benjamin J. Ii	director	1021 MAIN STREET, SUITE 2626, HOUSTON TX 77002-6516
Energy Evolution Master Fund, Ltd.	10 percent owner	25025 I-45 NORTH, SUITE 420, THE WOODLANDS TX 77380
J Kevin Vann	officer: VP, Finance/Strategic Planning	ONE WILLIAMS CENTER, SUITE 3800, TULSA OK 74172
Phil E Mulacek	10 percent owner	25025 I 45 NORTH, SUITE 420, THE WOODLANDS TX 77380
Mason H. Matschke	director	25025 I-45 NORTH, SUITE 420, THE WOODLANDS TX 77380
Faulkner Stephen L Jr	officer: Controller and Chief Acctg Ofc	3500 ONE WILLIAMS CENTER, TULSA OK 74172
Eugene J Sweeney	officer: Chief Operating Officer	151 W BURTON PL, CHICAGO IL 60610
Michael R. Morrisett	10 percent owner	3803 S. TRENTON AVENUE, TULSA OK 74105-3324
Thomas W. Pritchard	officer: Chief Executive Officer	15798 SPYGLASS HILL LOOP, GAINESVILLE VA 20155
Andrew Lloyd Lewis	director	2200 S. UTICA PLACE, SUITE 150, TULSA OK 74114
Angela M Baker	officer: Chief Accounting Officer	2200 S. UTICA PLACE, SUITE 150, TULSA OK 74114
Puckett Land Co	10 percent owner	5460 S. QUEBEC ST., SUITE 250, GREENWOOD VILLAGE CO 80111
Tony Kamin	director, 10 percent owner	619 BLUFF STREET, GLENCOE IL 60022
Gary C Adams	10 percent owner	1437 S. BOULDER AVENUE, SUITE 930, TULSA OK 74119
Empire Petroleum Holdings, Llc	10 percent owner	3803 S. TRENTON AVENUE, TULSA OK 74105-3324

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