Teekay Tankers (Teekay Tankers) Inventory Turnover : 3.81 (As of Dec. 2023)

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What is Teekay Tankers 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. Teekay Tankers's Cost of Goods Sold for the three months ended in Dec. 2023 was $200 Mil. Teekay Tankers's Average Total Inventories for the quarter that ended in Dec. 2023 was $52 Mil. Teekay Tankers's Inventory Turnover for the quarter that ended in Dec. 2023 was 3.81.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Teekay Tankers's Days Inventory for the three months ended in Dec. 2023 was 23.94.

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. Teekay Tankers's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.17.

Teekay Tankers Inventory Turnover Historical Data

The historical data trend for Teekay Tankers'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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Teekay Tankers Inventory Turnover Chart

Teekay Tankers Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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21.33

15.05

14.36

14.06

13.88

Teekay Tankers 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															3.16	3.18	3.28	3.57	3.81

Teekay Tankers Inventory Turnover Calculation

Teekay Tankers'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 )
=	791.718	/ (	(60.832	+	53.219)	/	2 )
=	791.718	/	57.0255
=	13.88

Teekay Tankers'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 )
=	199.889	/ (	(51.678	+	53.219)	/	2 )
=	199.889	/	52.4485
=	3.81

Teekay Tankers (NYSE:TNK) 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.

Teekay Tankers'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
	=	52.4485	/	199.889	*	365 / 4
	=	23.94

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.

Teekay Tankers'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 )
	=	52.4485	/	313.291
	=	0.17

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.

Teekay Tankers Inventory Turnover Related Terms

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Teekay Tankers (Teekay Tankers) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Teekay Tankers Ltd (NYSE:TNK) » Definitions » Inventory Turnover

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Traded in Other Exchanges

3TKA:Germany

Address

69 Pitts Bay Road, 4th Floor, Belvedere Building, Hamilton, BMU, HM 08

Website

https://www.teekay.com

Teekay Tankers Ltd is a provider of marine services to the global oil and natural gas industries and an operator of medium-sized oil tankers. The company operates in two segments: tanker and ship-to-ship transfer. The vast majority of its revenue comes from the tanker segment, which consists of crude oil and product tankers for different contracts.