Neste OYJ (Neste OYJ) Inventory Turnover : 1.15 (As of Mar. 2024)

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What is Neste OYJ 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. Neste OYJ's Cost of Goods Sold for the three months ended in Mar. 2024 was $4,654 Mil. Neste OYJ's Average Total Inventories for the quarter that ended in Mar. 2024 was $4,052 Mil. Neste OYJ's Inventory Turnover for the quarter that ended in Mar. 2024 was 1.15.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Neste OYJ's Days Inventory for the three months ended in Mar. 2024 was 79.43.

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. Neste OYJ's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.78.

Neste OYJ Inventory Turnover Historical Data

The historical data trend for Neste OYJ'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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Neste OYJ Inventory Turnover Chart

Neste OYJ Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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8.01

5.91

5.38

6.92

5.78

Neste OYJ Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Inventory Turnover	Get a 7-Day Free Trial															1.27	1.26	1.31	1.56	1.15

Neste OYJ Inventory Turnover Calculation

Neste OYJ'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 )
=	21769.902	/ (	(3864.407	+	3670.665)	/	2 )
=	21769.902	/	3767.536
=	5.78

Neste OYJ's Inventory Turnover for the quarter that ended in Mar. 2024 is calculated as

	Inventory Turnover (Q: Mar. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Mar. 2024 )	/ (	(Total Inventories (Q: Dec. 2023 )	+	Total Inventories (Q: Mar. 2024 ))	/	count )
=	4654.348	/ (	(3670.665	+	4432.609)	/	2 )
=	4654.348	/	4051.637
=	1.15

Neste OYJ (OTCPK:NTOIY) 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.

Neste OYJ's Days Inventory for the three months ended in Mar. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2024 )	/	Cost of Goods Sold (Q: Mar. 2024 )	*	Days in Period
	=	4051.637	/	4654.348	*	365 / 4
	=	79.43

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.

Neste OYJ's Inventory to Revenue for the quarter that ended in Mar. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	4051.637	/	5217.391
	=	0.78

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.

Neste OYJ Inventory Turnover Related Terms

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Neste OYJ (Neste OYJ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Neste OYJ (OTCPK:NTOIY) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

NTOIF:USA NESTE:Mexico 1NESTE:Italy NESTEh:UK 0O46:UK NESTE:Finland NEF:Germany

Address

Keilaranta 21, P.O. Box 95, Neste, Espoo, FIN, 00095

Website

https://www.neste.com

Neste OYJ Formerly Neste Corp. offers renewable products and solutions and oil products to a host of global markets. Its business is divided into various segments, including oil products, renewable products, marketing and services and others. Oil products is the largest contributor of revenue; it caters to oil companies and businesses that market oil, lubricants, and fuel products. Neste's oil products business includes diesel fuels, gasoline, aviation and marine fuels, and light and heavy fuel oils. Neste is heavily involved in the Baltic region with its network of service stations and refineries.