Days Inventory is also known as Days Sales of Inventory (DSI). Co-Diagnostics's Average Total Inventories for the
three
months ended in Dec. 2023 was $3.09 Mil. Co-Diagnostics's Cost of Goods Sold for the
three
months ended in Dec. 2023 was $2.97 Mil.
Hence, Co-Diagnostics's Days Inventory for the
three
months ended in Dec. 2023 was 95.08.
The historical rank and industry rank for Co-Diagnostics's Days Inventory or its related term are showing as below:
CODX'
s Days Inventory Range Over the Past 10 Years
Min: 90.11 Med: 304.17 Max: 3285
Current: 374.7
During the past 9 years, Co-Diagnostics's highest Days Inventory was 3285.00. The lowest was 90.11. And the median was 304.17.
CODX's Days Inventory is ranked worse than 81.81% of 775
companies
in the Medical Devices & Instruments industry
Industry Median: 186.73
vs CODX: 374.70
Co-Diagnostics's Days Inventory
declined
from Dec. 2022 (952.54) to Dec. 2023 (95.08).
Warning Sign:
If a company builds up inventory, it may mean it is having difficulties selling its goods.
Inventory Turnover measures how fast the company turns over its inventory within a year.
Co-Diagnostics's Inventory Turnover for the
three
months ended in Dec. 2023 was 0.96.
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.
Co-Diagnostics's Inventory-to-Revenue for the
three
months ended in Dec. 2023 was 0.87.
Co-Diagnostics Days Inventory Historical Data
The historical data trend for Co-Diagnostics's Days Inventory 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.
For the Medical Devices subindustry, Co-Diagnostics's Days Inventory, along with its competitors' market caps and Days Inventory data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Co-Diagnostics Days Inventory Distribution
For the Medical Devices & Instruments industry and Healthcare sector, Co-Diagnostics's Days Inventory distribution charts can be found below:
* The bar in red indicates where Co-Diagnostics's Days Inventory falls into.
Co-Diagnostics Days Inventory Calculation
Days Inventory indicates the number of days of goods in sales that a company has in the inventory.
Co-Diagnostics's Days Inventory for the fiscal year that ended in Dec. 2023 is calculated as
* 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.
Co-Diagnostics (NAS:CODX) Days Inventory Explanation
Days Inventory indicates the liquidity of the inventory. Generally, a lower Days Inventory is preferred as it indicates a shorter duration to clear off the inventory. An increase of the ratio may indicate the company's sales slowed. Similar ratios related to Days Inventory are:
1. Inventory Turnover measures how fast the company turns over its inventory within a year.
Co-Diagnostics's Inventory Turnover for the
three
months ended in Dec. 2023 is calculated as
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.
Co-Diagnostics's Inventory to Revenue for the
three
months ended in Dec. 2023 is calculated as
* 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.
Be Aware
A lot of business are seasonable. It makes more sense to compare Days Inventory from the same period in the previous year instead of from the previous quarter.
Co-Diagnostics Days Inventory Related Terms
Thank you for viewing the detailed overview of Co-Diagnostics's Days Inventory provided by GuruFocus.com. Please click on the following links to see related term pages.
Co-Diagnostics (Co-Diagnostics) Business Description
Co-Diagnostics Inc is a molecular diagnostics company. It develops, licenses, and commercializes molecular technologies such as lab systems (MDx device) and manufacture and sell reagents used for tests that are designed using the detection and/or analysis of nucleic acid molecules (DNA or RNA). CDI's low-cost system uses its tests to diagnose tuberculosis, Zika, hepatitis B and C, Malaria, dengue and HIV. The company's diagnostics systems enable very rapid, low-cost, sophisticated molecular testing for organisms and genetic diseases by greatly automating historically complex procedures in both the development and administration of tests.
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