Schmitt Industries (Schmitt Industries) Inventory Turnover : 0.54 (As of May. 2022)

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What is Schmitt 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. Schmitt Industries's Cost of Goods Sold for the three months ended in May. 2022 was $0.99 Mil. Schmitt Industries's Average Total Inventories for the quarter that ended in May. 2022 was $1.82 Mil. Schmitt Industries's Inventory Turnover for the quarter that ended in May. 2022 was 0.54.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Schmitt Industries's Days Inventory for the three months ended in May. 2022 was 168.42.

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. Schmitt Industries's Inventory-to-Revenue for the quarter that ended in May. 2022 was 1.37.

Schmitt Industries Inventory Turnover Historical Data

The historical data trend for Schmitt 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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Schmitt Industries Inventory Turnover Chart

Schmitt Industries Annual Data

Trend

May13

May14

May15

May16

May17

May18

May19

May20

May21

May22

Inventory Turnover

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1.58

0.85

1.95

3.06

3.58

Schmitt Industries Quarterly Data
	Aug17	Nov17	Feb18	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22
Inventory Turnover	Get a 7-Day Free Trial															0.45	0.96	0.73	0.51	0.54

Schmitt Industries Inventory Turnover Calculation

Schmitt Industries's Inventory Turnover for the fiscal year that ended in May. 2022 is calculated as

	Inventory Turnover (A: May. 2022 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: May. 2022 )	/ (	(Total Inventories (A: May. 2021 )	+	Total Inventories (A: May. 2022 ))	/	count )
=	4.824	/ (	(1.251	+	1.444)	/	2 )
=	4.824	/	1.3475
=	3.58

Schmitt Industries's Inventory Turnover for the quarter that ended in May. 2022 is calculated as

	Inventory Turnover (Q: May. 2022 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: May. 2022 )	/ (	(Total Inventories (Q: Feb. 2022 )	+	Total Inventories (Q: May. 2022 ))	/	count )
=	0.985	/ (	(2.192	+	1.444)	/	2 )
=	0.985	/	1.818
=	0.54

Schmitt Industries (OTCPK:SMIT) 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.

Schmitt Industries's Days Inventory for the three months ended in May. 2022 is calculated as:

Days Inventory	=	Average Total Inventories (Q: May. 2022 )	/	Cost of Goods Sold (Q: May. 2022 )	*	Days in Period
	=	1.818	/	0.985	*	365 / 4
	=	168.42

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.

Schmitt Industries's Inventory to Revenue for the quarter that ended in May. 2022 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: May. 2022 )	/	Revenue (Q: May. 2022 )
	=	1.818	/	1.323
	=	1.37

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.

Schmitt Industries Inventory Turnover Related Terms

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Schmitt Industries (Schmitt Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Schmitt Industries Inc (OTCPK:SMIT) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

2765 North West Nicolai Street, Portland, OR, USA, 97210

Website

https://www.schmittindustries.com

Schmitt Industries Inc is engaged in propane tank monitoring solutions, precision measurement solutions, and ice cream production and distribution. The Company operates as two reportable segments: the Measurement Segment and the Ice Cream Segment. Xact product line includes satellite-focused remote tank monitoring products and related monitoring services for markets in the IoT environment. The Company also manufactures, wholesales, and retails ice cream and related products.

Executives

Dustin Henderson	other: Shareholder	11125 N PARK BLVD, STE 106, SEMINOLE FL 33772
Kristi Michelle Smaha	director	C/O SCHMITT INDUSTRIES, INC., 2765 N.W. NICOLAI STREET, PORTLAND OR 97210-1818
Alexandre Zyngier	director	5700 W. PLANO PARKWAY, SUITE 3600, PLANO TX 75093
Philip Bosco	officer: Chief Financial Officer	2765 NW NICOLAI STREET, PORTLAND OR 97210
Lillian Tung	director	45 WEST 67TH STREET, 10D, NEW YORK NY 10023
Michael R. Zapata	officer: Chief Executive Officer	2765 NW NICOLAI STREET, PORTLAND OR 97210
Andrews P Hines	director
Steven Strom	director	2765 NW NICOLAI STREET, PORTLAND OR 97210
Charles Davidson	director	C/O SCHMITT INDUSTRIES, INC., 2765 N.W. NICOLAI STREET, PORTLAND OR 97210
Jamie Michael Schmidt	officer: Chief Financial Officer	2765 NW NICOLAI STREET, PORTLAND OR 97210
Walter Brown Pistor	10 percent owner	2415 KALAMA RIVER ROAD, KALAMA WA 98625
Regina Walker	officer: Chief Financial Officer	2765 NW NICOLAI STREET, PORTLAND OR 97210
Michael Ellsworth	director	SCHMITT INDUSTRIES, INC., 2765 NW NICOLAI, PORTLAND OR 97210
David Hudson	director	SCHMITT INDUSTRIES, INC., 2765 NW NICOLAI, PORTLAND OR 97210
Maynard E Brown	director	1595 - 19TH STREET, WEST VANCOUVER A1 V7V 3X5