MIND Technology (MIND Technology) Inventory Turnover

: 0.19 (As of Oct. 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. MIND Technology's Cost of Goods Sold for the three months ended in Oct. 2023 was $2.72 Mil. MIND Technology's Average Total Inventories for the quarter that ended in Oct. 2023 was $14.46 Mil. MIND Technology's Inventory Turnover for the quarter that ended in Oct. 2023 was 0.19.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. MIND Technology's Days Inventory for the three months ended in Oct. 2023 was 484.82.

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. MIND Technology's Inventory-to-Revenue for the quarter that ended in Oct. 2023 was 2.91.

MIND Technology Inventory Turnover Historical Data

The historical data trend for MIND Technology'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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MIND Technology Annual Data

Trend

Jan14

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Jan21

Jan22

Jan23

Inventory Turnover

2.89

1.45

1.15

1.34

1.51

MIND Technology Quarterly Data
	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23
Inventory Turnover																0.14	0.73	0.48	0.37	0.19

MIND Technology Inventory Turnover Calculation

MIND Technology's Inventory Turnover for the fiscal year that ended in Jan. 2023 is calculated as

	Inventory Turnover (A: Jan. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Jan. 2023 )	/ (	(Total Inventories (A: Jan. 2022 )	+	Total Inventories (A: Jan. 2023 ))	/	count )
=	22.116	/ (	(14.006	+	15.318)	/	2 )
=	22.116	/	14.662
=	1.51

MIND Technology's Inventory Turnover for the quarter that ended in Oct. 2023 is calculated as

	Inventory Turnover (Q: Oct. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Oct. 2023 )	/ (	(Total Inventories (Q: Jul. 2023 )	+	Total Inventories (Q: Oct. 2023 ))	/	count )
=	2.721	/ (	(15.651	+	13.263)	/	2 )
=	2.721	/	14.457
=	0.19

MIND Technology (NAS:MIND) 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.

MIND Technology's Days Inventory for the three months ended in Oct. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Oct. 2023 )	/	Cost of Goods Sold (Q: Oct. 2023 )	*	Days in Period
	=	14.457	/	2.721	*	365 / 4
	=	484.82

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.

MIND Technology's Inventory to Revenue for the quarter that ended in Oct. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Oct. 2023 )	/	Revenue (Q: Oct. 2023 )
	=	14.457	/	4.974
	=	2.91

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.

MIND Technology Inventory Turnover Related Terms

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MIND Technology (MIND Technology) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » MIND Technology Inc (NAS:MIND) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

MINDP.PFD:USA

Address

2002 Timberloch Place, Suite 550, The Woodlands, TX, USA, 77380

Website

https://www.mind-technology.com

MIND Technology Inc provides technology and solutions for exploration, survey, and defense applications in oceanographic, hydrographic, defense, seismic, and security industries. The Company operates in segments namely, Seamap Marine Products and Klein Marine Products helps manufacture and sell specialized, high-performance sonar and seismic equipment. The company generates more revenue from Seamap Marine Products. The company's geographical segments include the United States; Europe, Russia & CIS; Middle East & Africa; Asia-Pacific; and Canada & Latin America.

Executives

Peter H Blum	director	999 18TH STREET, STE 1700, DENVER CO 80202
Alan Perry Baden	director	2635 SUTTON COURT, HOUSTON TX 77027
Nancy Jean Harned	director	2704 CHESTER FOREST COURT, VIRGINIA BEACH VA 23452
Thomas S Glanville	director	2818 N SULLIVAN ROAD, SPOLANE WA 99216
Mark Alan Cox	officer: Principal Accounting Officer	1301 MCKINNEY STREET, SUITE 1800, HOUSTON TX 77010
Guy Malden	officer: Co-CEO and EVP	P O BOX 1175, HUNTSVILLE TX 77342
Marcus C Rowland	director	920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024
Robert John Albers	director	2171 LOMA LINDA DRIVE, PAGOSA SPRINGS CO 81147
Robert P Capps	director, officer: Co-CEO and CFO
Dennis Patrick Morris	officer: Chief Operating Officer	7026 TEAL LOOP, GIG HARBOR WA 98335
William Hunter Hilarides	director	10710 OX CROFT CT., FAIRFAX STATION VA 22039
Midwood Capital Management Llc	10 percent owner	575 BOYLSON ST., 4TH FLOOR, BOSTON MA 02116
Paul Guy Rogers	officer: VP - Business Development
John F Schwalbe	director
R Dean Lewis	director