Griffin Mining (LSE:GFM) Inventory Turnover : 9.64 (As of Dec. 2023)

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What is Griffin Mining 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. Griffin Mining's Cost of Goods Sold for the six months ended in Dec. 2023 was £43.3 Mil. Griffin Mining's Average Total Inventories for the quarter that ended in Dec. 2023 was £4.5 Mil. Griffin Mining's Inventory Turnover for the quarter that ended in Dec. 2023 was 9.64.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Griffin Mining's Days Inventory for the six months ended in Dec. 2023 was 18.93.

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. Griffin Mining's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.07.

Griffin Mining Inventory Turnover Historical Data

The historical data trend for Griffin Mining'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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Griffin Mining Inventory Turnover Chart

Griffin Mining Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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11.56

10.02

14.39

10.11

14.43

Griffin Mining Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															8.05	2.88	4.95	6.87	9.64

Griffin Mining Inventory Turnover Calculation

Griffin Mining'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 )
=	81.049	/ (	(6.631	+	4.604)	/	2 )
=	81.049	/	5.6175
=	14.43

Griffin Mining'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: Jun. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	43.304	/ (	(4.38	+	4.604)	/	2 )
=	43.304	/	4.492
=	9.64

Griffin Mining (LSE:GFM) 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.

Griffin Mining's Days Inventory for the six 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
	=	4.492	/	43.304	*	365 / 2
	=	18.93

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.

Griffin Mining'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 )
	=	4.492	/	67.085
	=	0.07

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.

Griffin Mining Inventory Turnover Related Terms

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Griffin Mining (LSE:GFM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Griffin Mining Ltd (LSE:GFM) » Definitions » Inventory Turnover

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GG7:Germany

Address

2 Church Street, Clarendon House, Hamilton, BMU, HM11

Website

http://www.griffinmining.com

Griffin Mining Ltd is a mining and investment company. It is principally engaged in mining and exploration activities. The company is engaged in the Caijiaying zinc gold mine in the PRC.

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