Days Inventory is also known as Days Sales of Inventory (DSI). Novanta's Average Total Inventories for the
three
months ended in Dec. 2023 was $151.6 Mil. Novanta's Cost of Goods Sold for the
three
months ended in Dec. 2023 was $115.0 Mil.
Hence, Novanta's Days Inventory for the
three
months ended in Dec. 2023 was 120.27.
The historical rank and industry rank for Novanta's Days Inventory or its related term are showing as below:
NOVT'
s Days Inventory Range Over the Past 10 Years
Min: 91.64 Med: 103.39 Max: 121.33
Current: 121.33
During the past 13 years, Novanta's highest Days Inventory was 121.33. The lowest was 91.64. And the median was 103.39.
NOVT's Days Inventory is ranked worse than 57.96% of 2405
companies
in the Hardware industry
Industry Median: 103.88
vs NOVT: 121.33
Novanta's Days Inventory
declined
from Dec. 2022 (121.88) to Dec. 2023 (120.27).
Inventory Turnover measures how fast the company turns over its inventory within a year.
Novanta's Inventory Turnover for the
three
months ended in Dec. 2023 was 0.76.
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.
Novanta's Inventory-to-Revenue for the
three
months ended in Dec. 2023 was 0.72.
Novanta Days Inventory Historical Data
The historical data trend for Novanta'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.
Competitive Comparison of Novanta's Days Inventory
For the Scientific & Technical Instruments subindustry, Novanta'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.
Novanta's Days Inventory Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Novanta's Days Inventory distribution charts can be found below:
* The bar in red indicates where Novanta's Days Inventory falls into.
Novanta Days Inventory Calculation
Days Inventory indicates the number of days of goods in sales that a company has in the inventory.
Novanta'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.
Novanta (NAS:NOVT) 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.
Novanta'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.
Novanta'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.
Novanta Days Inventory Related Terms
Thank you for viewing the detailed overview of Novanta's Days Inventory provided by GuruFocus.com. Please click on the following links to see related term pages.
Novanta Inc manufactures photonic and motion-control components for original equipment manufacturers in the medical equipment and industrial technology markets. The firm operates in three segments: photonics, vision, and precision motion. The photonics segment, which sells photonics-based products that include carbon dioxide lasers, laser scanning, super-resolution imaging lasers, and laser beam delivery items. The vision segment sells medical-grade technologies, including visualization solutions, imaging informatics products, and thermal printers contributing the majority of revenue. The precision motion segment sells optical encoders, motion control technology, and precision machined components. The firm generates the majority of its revenue from the United States and Europe.
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