Nitto Denko (Nitto Denko) Inventory Turnover : 1.06 (As of Dec. 2023)

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What is Nitto Denko 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. Nitto Denko's Cost of Goods Sold for the three months ended in Dec. 2023 was $1,014 Mil. Nitto Denko's Average Total Inventories for the quarter that ended in Dec. 2023 was $957 Mil. Nitto Denko's Inventory Turnover for the quarter that ended in Dec. 2023 was 1.06.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Nitto Denko's Days Inventory for the three months ended in Dec. 2023 was 86.04.

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. Nitto Denko's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.56.

Nitto Denko Inventory Turnover Historical Data

The historical data trend for Nitto Denko'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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Nitto Denko Inventory Turnover Chart

Nitto Denko Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Inventory Turnover

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5.83

5.55

5.06

4.48

4.14

Nitto Denko 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															1.07	0.96	0.97	1.03	1.06

Nitto Denko Inventory Turnover Calculation

Nitto Denko's Inventory Turnover for the fiscal year that ended in Mar. 2023 is calculated as

	Inventory Turnover (A: Mar. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Mar. 2023 )	/ (	(Total Inventories (A: Mar. 2022 )	+	Total Inventories (A: Mar. 2023 ))	/	count )
=	4425.961	/ (	(1082.146	+	1055.637)	/	2 )
=	4425.961	/	1068.8915
=	4.14

Nitto Denko'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 )
=	1014.471	/ (	(941.797	+	971.396)	/	2 )
=	1014.471	/	956.5965
=	1.06

Nitto Denko (OTCPK:NDEKY) 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.

Nitto Denko'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
	=	956.5965	/	1014.471	*	365 / 4
	=	86.04

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.

Nitto Denko'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 )
	=	956.5965	/	1698.524
	=	0.56

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.

Nitto Denko Inventory Turnover Related Terms

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Nitto Denko (Nitto Denko) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Nitto Denko Corp (OTCPK:NDEKY) » Definitions » Inventory Turnover

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Traded in Other Exchanges

NDEKF:USA 6988:Japan ND5:Germany

Address

4-20, Ofuka-Cho, 33rd Floor, Grand Front Osaka, Kita-Ku, Osaka, JPN, 530-0011

Website

http://www.nitto.com

Nitto Denko Corp manufactures and sells a variety of industrial and electronics products. The company sells tape products, which include masking tape for painting and printed-circuit boards, double sided tapes, electrical tape, and sealant materials used in the construction industry. Nitto Denko also sells film products, which include surface protective film, fluoroplastic films used to seal pipes and air filters, and porous film that allows air to pass through but seals water and other liquids. The firm also produces electronics, which include flexible printed circuit boards for smartphones and tablets, and medical products such as drug delivery patches and adhesive sheets.

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