Kinross Gold (Kinross Gold) Inventory Turnover

: 0.73 (As of Dec. 2023)

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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. Kinross Gold's Cost of Goods Sold for the three months ended in Dec. 2023 was $863 Mil. Kinross Gold's Average Total Inventories for the quarter that ended in Dec. 2023 was $1,178 Mil. Kinross Gold's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.73.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Kinross Gold's Days Inventory for the three months ended in Dec. 2023 was 124.58.

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. Kinross Gold's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 1.06.

Kinross Gold Inventory Turnover Historical Data

The historical data trend for Kinross Gold'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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Kinross Gold Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

2.04

1.80

1.85

2.64

2.77

Kinross Gold Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover																1.04	0.63	0.63	0.66	0.73

Kinross Gold Inventory Turnover Calculation

Kinross Gold's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	3080.1	/ (	(1072.2	+	1153)	/	2 )
=	3080.1	/	1112.6
=	2.77

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

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	862.6	/ (	(1202.3	+	1153)	/	2 )
=	862.6	/	1177.65
=	0.73

Kinross Gold (NYSE:KGC) 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.

Kinross Gold'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
	=	1177.65	/	862.6	*	365 / 4
	=	124.58

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.

Kinross Gold'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 )
	=	1177.65	/	1115.7
	=	1.06

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.

Kinross Gold Inventory Turnover Related Terms

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Kinross Gold (Kinross Gold) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Kinross Gold Corp (NYSE:KGC) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

0R2D:UK KIN2:Germany KIN2:Germany KIN2:Germany K:Canada KGC:Argentina

Address

25 York Street, 17th Floor, Toronto, ON, CAN, M5J 2V5

Website

https://www.kinross.com

Kinross Gold is a Canada-based gold producer, producing roughly 2 million gold equivalent ounces in 2022. The company had about a decade of gold reserves at the end of 2022. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. The company has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada, which, if developed, could produce an average of more than 500,000 ounces of gold per year for at least a decade.