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. Chevron's Cost of Goods Sold for the
three
months ended in Dec. 2023 was $34,731 Mil. Chevron's Average Total Inventories for the quarter that ended in Dec. 2023 was $9,020 Mil.
Chevron's Inventory Turnover for the quarter that ended in Dec. 2023 was 3.85.
Days Inventory indicates the number of days of goods in sales that a company has in the inventory.
Chevron's Days Inventory for the
three
months ended in Dec. 2023 was 23.70.
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.
Chevron's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.18.
Chevron Inventory Turnover Historical Data
The historical data trend for Chevron'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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Chevron Annual Data
Trend
Dec14
Dec15
Dec16
Dec17
Dec18
Dec19
Dec20
Dec21
Dec22
Dec23
Inventory Turnover
18.93
12.44
17.67
21.50
16.20
Chevron Quarterly Data
Mar19
Jun19
Sep19
Dec19
Mar20
Jun20
Sep20
Dec20
Mar21
Jun21
Sep21
Dec21
Mar22
Jun22
Sep22
Dec22
Mar23
Jun23
Sep23
Dec23
Inventory Turnover
4.33
3.77
3.53
3.90
3.85
Chevron Inventory Turnover Calculation
Chevron's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as
* 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.
Chevron (NYSE:CVX) 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.
Chevron's Days Inventory for the
three
months ended in Dec. 2023 is calculated as:
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.
Chevron's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as
* 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.
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.
Chevron Inventory Turnover Related Terms
Thank you for viewing the detailed overview of Chevron's Inventory Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the U.S. and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2022 stood at 11.2 billion barrels of oil equivalent, including 6.1 billion barrels of liquids and 30.9 trillion cubic feet of natural gas.
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