Concho Resources (Concho Resources) Inventory Turnover : 17.89 (As of Sep. 2020)

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What is Concho Resources Inventory Turnover?

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. Concho Resources's Cost of Goods Sold for the three months ended in Sep. 2020 was $474 Mil. Concho Resources's Average Total Inventories for the quarter that ended in Sep. 2020 was $27 Mil. Concho Resources's Inventory Turnover for the quarter that ended in Sep. 2020 was 17.89.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Concho Resources's Days Inventory for the three months ended in Sep. 2020 was 5.10.

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. Concho Resources's Inventory-to-Revenue for the quarter that ended in Sep. 2020 was 0.03.

Concho Resources Inventory Turnover Historical Data

The historical data trend for Concho Resources'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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Concho Resources Inventory Turnover Chart

Concho Resources Annual Data

Trend

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Inventory Turnover

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101.13

116.87

96.86

93.20

Concho Resources Quarterly Data
	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20
Inventory Turnover	Get a 7-Day Free Trial															24.22	26.37	27.71	17.27	17.89

Concho Resources Inventory Turnover Calculation

Concho Resources's Inventory Turnover for the fiscal year that ended in Dec. 2019 is calculated as

	Inventory Turnover (A: Dec. 2019 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2019 )	/ (	(Total Inventories (A: Dec. 2018 )	+	Total Inventories (A: Dec. 2019 ))	/	count )
=	3029	/ (	(35	+	30)	/	2 )
=	3029	/	32.5
=	93.20

Concho Resources's Inventory Turnover for the quarter that ended in Sep. 2020 is calculated as

	Inventory Turnover (Q: Sep. 2020 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Sep. 2020 )	/ (	(Total Inventories (Q: Jun. 2020 )	+	Total Inventories (Q: Sep. 2020 ))	/	count )
=	474	/ (	(27	+	26)	/	2 )
=	474	/	26.5
=	17.89

Concho Resources (NYSE:CXO) 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.

Concho Resources's Days Inventory for the three months ended in Sep. 2020 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Sep. 2020 )	/	Cost of Goods Sold (Q: Sep. 2020 )	*	Days in Period
	=	26.5	/	474	*	365 / 4
	=	5.10

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.

Concho Resources's Inventory to Revenue for the quarter that ended in Sep. 2020 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Sep. 2020 )	/	Revenue (Q: Sep. 2020 )
	=	26.5	/	834
	=	0.03

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.

Concho Resources Inventory Turnover Related Terms

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Concho Resources (Concho Resources) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Concho Resources Inc (NYSE:CXO) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

600 West Illinois Avenue, One Concho Center, Midland, TX, USA, 79701

Website

https://www.concho.com

Concho Resources is an independent oil and natural gas company with operations primarily in the Permian Basin of western Texas and southeastern New Mexico. At the end of 2019, it reported proved reserves of 1.0 billion barrels of oil equivalent. Net production averaged about 331 thousand boe per day in 2018, of which 63% was oil (with natural gas and natural gas liquids making up the remainder).

Executives

Steven L Beal	director	7220 MEADOW ROAD, DALLAS TX 75230
John P Surma	director
Steven D Gray	director	125 W. MISSOURI AVE., SUITE 450, MIDLAND TX 79701
E Joseph Wright	director	550 WEST TEXAS AVENUE, SUITE 1300, MIDLAND TX 79701
Tucker S Bridwell	director	400 PINE STE 1000, ABILENE TX 79601
Keenan W Howard Jr	director	410 PARK AVENUE, 20TH FLOOR, NEW YORK NY 10022
Steven H Pruett	officer: SVP of Corporate Development	C/O LEGACY RESERVES GP, LLC 303 W. WALL STREET, SUITE 1600 MIDLAND TX 79701
David W Copeland	officer: VP Gen. Counsel & Secretary	1775 SHERMAN STREET, SUITE 1200, DENVER CO 80203
Yorktown Energy Partners V Lp	other: See Remarks	410 PARK AVENUE, 19TH FLOOR, NEW YORK NY 10022
Yorktown V Co Llc	other: See Remarks	410 PARK AVENUE, 19TH FLOOR, NEW YORK NY 10022
Yorktown Energy Partners Vi Lp	other: See Remarks	410 PARK AVENUE, 19TH FLOOR, NEW YORK NY 10022
Yorktown Vi Associates Llc	other: See Remarks	410 PARK AVENUE, 19TH FLOOR, NEW YORK NY 10022
Easter William H Iii	director	370 17TH ST, STE 2500, DENVER CO 80202