Schmitt Industries (Schmitt Industries) Total Inventories : $1.44 Mil (As of May. 2022)

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What is Schmitt Industries Total Inventories?

Schmitt Industries's total inventories for the quarter that ended in May. 2022 was $1.44 Mil. Schmitt Industries's average total inventories from the quarter that ended in Feb. 2022 to the quarter that ended in May. 2022 was $1.82 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Schmitt Industries's Net-Net Working Capital per share for the quarter that ended in May. 2022 was $-5.20.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Schmitt Industries's Days Inventory for the three months ended in May. 2022 was 168.42.

Inventory Turnover measures how fast the company turns over its inventory within a year. Schmitt Industries's Inventory Turnover for the quarter that ended in May. 2022 was 0.54.

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. Schmitt Industries's Inventory-to-Revenue for the quarter that ended in May. 2022 was 1.37.

Schmitt Industries Total Inventories Historical Data

The historical data trend for Schmitt Industries'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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Schmitt Industries Total Inventories Chart

Schmitt Industries Annual Data

Trend

May13

May14

May15

May16

May17

May18

May19

May20

May21

May22

Total Inventories

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5.71

1.24

1.06

1.25

1.44

Schmitt Industries Quarterly Data
	Aug17	Nov17	Feb18	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22
Total Inventories	Get a 7-Day Free Trial															1.25	1.82	1.83	2.19	1.44

Schmitt Industries 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.

Schmitt Industries (OTCPK:SMIT) 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.

Schmitt Industries's Net-Net Working Capital Per Share for the quarter that ended in May. 2022 is

	Net-Net Working Capital Per Share (Q: May. 2022 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(1.051	+	0.75 * 0.752	+	0.5 * 1.444	-	22.234
-	0	-	0)	/	3.82572
=	-5.20

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

Schmitt Industries's Days Inventory for the three months ended in May. 2022 is calculated as:

Days Inventory	=	Average Total Inventories (Q: May. 2022 )	/	Cost of Goods Sold (Q: May. 2022 )	*	Days in Period
	=	1.818	/	0.985	*	365 / 4
	=	168.42

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

Schmitt Industries's Inventory Turnover for the quarter that ended in May. 2022 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: May. 2022 )	/	Average Total Inventories (Q: May. 2022 )
	=	0.985	/	1.818
	=	0.54

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.

Schmitt Industries's Inventory to Revenue for the quarter that ended in May. 2022 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: May. 2022 )	/	Revenue (Q: May. 2022 )
	=	1.818	/	1.323
	=	1.37

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.

Schmitt Industries Total Inventories Related Terms

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Schmitt Industries (Schmitt Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Schmitt Industries Inc (OTCPK:SMIT) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

N/A

Address

2765 North West Nicolai Street, Portland, OR, USA, 97210

Website

https://www.schmittindustries.com

Schmitt Industries Inc is engaged in propane tank monitoring solutions, precision measurement solutions, and ice cream production and distribution. The Company operates as two reportable segments: the Measurement Segment and the Ice Cream Segment. Xact product line includes satellite-focused remote tank monitoring products and related monitoring services for markets in the IoT environment. The Company also manufactures, wholesales, and retails ice cream and related products.

Executives

Dustin Henderson	other: Shareholder	11125 N PARK BLVD, STE 106, SEMINOLE FL 33772
Kristi Michelle Smaha	director	C/O SCHMITT INDUSTRIES, INC., 2765 N.W. NICOLAI STREET, PORTLAND OR 97210-1818
Alexandre Zyngier	director	5700 W. PLANO PARKWAY, SUITE 3600, PLANO TX 75093
Philip Bosco	officer: Chief Financial Officer	2765 NW NICOLAI STREET, PORTLAND OR 97210
Lillian Tung	director	45 WEST 67TH STREET, 10D, NEW YORK NY 10023
Michael R. Zapata	officer: Chief Executive Officer	2765 NW NICOLAI STREET, PORTLAND OR 97210
Andrews P Hines	director
Steven Strom	director	2765 NW NICOLAI STREET, PORTLAND OR 97210
Charles Davidson	director	C/O SCHMITT INDUSTRIES, INC., 2765 N.W. NICOLAI STREET, PORTLAND OR 97210
Jamie Michael Schmidt	officer: Chief Financial Officer	2765 NW NICOLAI STREET, PORTLAND OR 97210
Walter Brown Pistor	10 percent owner	2415 KALAMA RIVER ROAD, KALAMA WA 98625
Regina Walker	officer: Chief Financial Officer	2765 NW NICOLAI STREET, PORTLAND OR 97210
Michael Ellsworth	director	SCHMITT INDUSTRIES, INC., 2765 NW NICOLAI, PORTLAND OR 97210
David Hudson	director	SCHMITT INDUSTRIES, INC., 2765 NW NICOLAI, PORTLAND OR 97210
Maynard E Brown	director	1595 - 19TH STREET, WEST VANCOUVER A1 V7V 3X5