Merafe Resources (JSE:MRF) Total Inventories : R1,916 Mil (As of Dec. 2023)

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What is Merafe Resources Total Inventories?

Merafe Resources's total inventories for the quarter that ended in Dec. 2023 was R1,916 Mil. Merafe Resources's average total inventories from the quarter that ended in Jun. 2023 to the quarter that ended in Dec. 2023 was R2,164 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Merafe Resources's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was R0.89.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Merafe Resources's Days Inventory for the six months ended in Dec. 2023 was 2,959.97.

Inventory Turnover measures how fast the company turns over its inventory within a year. Merafe Resources's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.06.

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. Merafe Resources's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.48.

Merafe Resources Total Inventories Historical Data

The historical data trend for Merafe Resources's Total Inventories 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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Merafe Resources Total Inventories Chart

Merafe Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

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2,008.80

1,433.68

1,652.18

2,372.54

1,916.48

Merafe Resources Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Total Inventories	Get a 7-Day Free Trial															1,652.18	1,936.42	2,372.54	2,411.59	1,916.48

Merafe Resources Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Merafe Resources (JSE:MRF) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Merafe Resources's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(1655.807	+	0.75 * 1354.882	+	0.5 * 1916.476	-	1402.753
-	0	-	0)	/	2499.13
=	0.89

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Merafe Resources'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
	=	2164.035	/	133.426	*	365 / 2
	=	2,959.97

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Merafe Resources's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	133.426	/	2164.035
	=	0.06

4. 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.

Merafe Resources'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 )
	=	2164.035	/	4477.924
	=	0.48

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Merafe Resources Total Inventories Related Terms

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Merafe Resources (JSE:MRF) Business Description

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RZT:Germany

Address

35 Ballyclare Drive, Building B, 2nd floor, Ballyoaks Office Park, Bryanston, ZAF, 2191

Website

https://www.meraferesources.co.za

Merafe Resources Ltd through its wholly-owned subsidiary, Merafe Ferrochrome and Mining Proprietary Limited, participates in chrome mining and the beneficiation of chrome ore into ferrochrome. The Glencore-Merafe Chrome Venture (Venture) operates five ferrochrome smelters, twenty-two ferrochrome furnaces, and nine mines, situated in the North-West, Limpopo, and Mpumalanga provinces of South Africa. The company has operating mines namely, Waterval mine; Marikana West; and Kroondal Gemini. The Group has one reportable segment being the mining and beneficiation of chrome ore into ferrochrome and associated minerals.