Miller Industries (Miller Industries) Inventory Turnover : 1.41 (As of Dec. 2023)

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What is Miller Industries 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. Miller Industries's Cost of Goods Sold for the three months ended in Dec. 2023 was $258 Mil. Miller Industries's Average Total Inventories for the quarter that ended in Dec. 2023 was $183 Mil. Miller Industries's Inventory Turnover for the quarter that ended in Dec. 2023 was 1.41.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Miller Industries's Days Inventory for the three months ended in Dec. 2023 was 64.85.

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. Miller Industries's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.62.

Miller Industries Inventory Turnover Historical Data

The historical data trend for Miller Industries'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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Miller Industries Inventory Turnover Chart

Miller Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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7.94

6.67

6.51

5.70

5.83

Miller Industries Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															1.34	1.58	1.57	1.35	1.41

Miller Industries Inventory Turnover Calculation

Miller Industries'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 )
=	1001.5	/ (	(153.656	+	189.807)	/	2 )
=	1001.5	/	171.7315
=	5.83

Miller Industries'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 )
=	257.606	/ (	(176.329	+	189.807)	/	2 )
=	257.606	/	183.068
=	1.41

Miller Industries (NYSE:MLR) 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.

Miller Industries'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
	=	183.068	/	257.606	*	365 / 4
	=	64.85

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.

Miller Industries'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 )
	=	183.068	/	296.246
	=	0.62

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.

Miller Industries Inventory Turnover Related Terms

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Miller Industries (Miller Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Miller Industries Inc (NYSE:MLR) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

8503 Hilltop Drive, Ooltewah, TN, USA, 37363

Website

https://www.millerind.com

Miller Industries Inc is engaged in the manufacturing of vehicle towing and recovery equipment. The company produces wreckers, car carriers, and trailer bodies under the Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige, and Boniface brands. The products are sold primarily in North America, Canada, and Mexico through independent distributors.

Executives

Jill Sutton	director	313 IRON HORSE WAY, PROVIDENCE RI 02908
Peter Lee Jackson	director	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Javier A Reyes	director	65 FALLING WATER LANE, MORGANTOWN WV 26508
Susan E Sweeney	director	5605 CARNEGIE BLVD. SUITE 500, CHARLOTTE NC 28209
Jeffrey I Badgley	officer: Co-CEO
Miller William G. Ii	director, officer: CEO and President	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Josias W. Reyneke	officer: Chief Information Officer	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Deborah L Whitmire	director, officer: Chief Financial Officer	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Frank Madonia	officer: Executive VP, Secretary & GC
Vincent J. Tiano	officer: Vice President and CRO	8515 CAVANAUGH LANE, HIXSON TN 37343
Jamison Linden	officer: Vice President and CMO	8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Leigh Walton	director	150 THIRD AVENUE SOUTH, SUITE 2800, NASHVILLE TN 37201
Ashford Theodore H. Iii	director	909 STUART ROAD, WILMINGTON DE 19807
Richard H Roberts	director	C/O MILLER INDUSTRIES, INC., 8503 HILLTOP DRIVE, OOLTEWAH TN 37363
Chandler A Russell Iii	director	C/O KILPATRICK STOCKTON LLP, 110 PEACHTREE STREET SUITE 2800, ATLANTA GA 30309