Michael Hill International (Michael Hill International) Inventory Turnover : 0.66 (As of Dec. 2023)

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What is Michael Hill International 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. Michael Hill International's Cost of Goods Sold for the six months ended in Dec. 2023 was $93.57 Mil. Michael Hill International's Average Total Inventories for the quarter that ended in Dec. 2023 was $141.51 Mil. Michael Hill International's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.66.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Michael Hill International's Days Inventory for the six months ended in Dec. 2023 was 275.99.

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. Michael Hill International's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.58.

Michael Hill International Inventory Turnover Historical Data

The historical data trend for Michael Hill International'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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Michael Hill International Inventory Turnover Chart

Michael Hill International Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Inventory Turnover

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1.11

1.08

1.25

1.15

1.14

Michael Hill International 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															0.64	0.56	0.66	0.50	0.66

Michael Hill International Inventory Turnover Calculation

Michael Hill International's Inventory Turnover for the fiscal year that ended in Jun. 2023 is calculated as

	Inventory Turnover (A: Jun. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Jun. 2023 )	/ (	(Total Inventories (A: Jun. 2022 )	+	Total Inventories (A: Jun. 2023 ))	/	count )
=	150.301	/ (	(127.881	+	135.705)	/	2 )
=	150.301	/	131.793
=	1.14

Michael Hill International'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 )
=	93.57	/ (	(135.705	+	147.307)	/	2 )
=	93.57	/	141.506
=	0.66

Michael Hill International (OTCPK:MXRHY) 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.

Michael Hill International'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
	=	141.506	/	93.57	*	365 / 2
	=	275.99

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.

Michael Hill International'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 )
	=	141.506	/	242.827
	=	0.58

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.

Michael Hill International Inventory Turnover Related Terms

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Michael Hill International (Michael Hill International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Michael Hill International Ltd (OTCPK:MXRHY) » Definitions » Inventory Turnover

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Traded in Other Exchanges

MHJ:New Zealand MHJ:Australia

Address

34 Southgate Avenue, Cannon Hill, QLD, AUS, 4170

Website

https://www.michaelhill.com

Michael Hill International Ltd is an Australia based specialist retail jewellery chain engaged in the sale of jewellery and related services. It operates stores in Australia, New Zealand and Canada. The group derives prime revenue from Australia. The product portfolio of the company includes Rings, Earrings, Pendants and Necklaces, Bracelets, Bangles and other products.