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GuruFocus has detected 1 Warning Sign with Steelcase Inc $SCS.
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Steelcase Inc (NYSE:SCS)
Days Inventory
31.30 (As of May. 2017)

Steelcase Inc's average inventory for the three months ended in May. 2017 was $169 Mil. Steelcase Inc's cost of goods sold for the three months ended in May. 2017 was $492 Mil. Hence, Steelcase Inc's days inventory for the three months ended in May. 2017 was 31.30.

SCS' s Days Inventory Range Over the Past 10 Years
Min: 22.57   Max: 29.99
Current: 29.99

22.57
29.99

During the past 13 years, Steelcase Inc's highest Days Inventory was 29.99. The lowest was 22.57. And the median was 25.31.

SCS's Days Inventory is ranked higher than
91% of the 1785 Companies
in the Global Business Equipment industry.

( Industry Median: 97.63 vs. SCS: 29.99 )

Steelcase Inc's days inventory increased from May. 2016 (29.51) to May. 2017 (31.30). It might indicate that Steelcase Inc's sales slowed down.

Inventory can be measured by Days Sales of Inventory (DSI). Steelcase Inc's days sales of inventory (DSI) for the three months ended in May. 2017 was 20.96.

Inventory turnover measures how fast the company turns over its inventory within a year. Steelcase Inc's inventory turnover for the three months ended in May. 2017 was 2.92.

Inventory to revenue ratio 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. Steelcase Inc's inventory to revenue ratio for the three months ended in May. 2017 was 0.23.


Definition

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

Steelcase Inc's Days Inventory for the fiscal year that ended in Feb. 2017 is calculated as

Days Inventory (A: Feb. 2017 )
=Average Inventory / COGS*Days in Period
=( (Inventory (A: Feb. 2016 ) + Inventory (A: Feb. 2017 )) / 2 ) / COGS (A: Feb. 2017 )*Days in Period
=( (159.4 + 163.1) / 2 ) / 2022*365
=161.25 / 2022*365
=29.11

Steelcase Inc's Days Inventory for the quarter that ended in May. 2017 is calculated as:

Days Inventory (Q: May. 2017 )
=Average Inventory / COGS*Days in Period
=( (Inventory (Q: Feb. 2017 ) + Inventory (Q: May. 2017 )) / 2 ) / COGS (Q: May. 2017 )*Days in Period
=( (163.1 + 174.6) / 2 ) / 492.3*365 / 4
=168.85 / 492.3*365 / 4
=31.30

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

An increase of Days Inventory may indicate the company's sales slowed.

1. Inventory can be measured by Days Sales of Inventory (DSI).

Steelcase Inc's Days Sales of Inventory for the three months ended in May. 2017 is calculated as

Days Sales of Inventory (DSI)=Average Inventory/Revenue*Days in Period
=168.85/735.1*365 / 4
=20.96

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

Steelcase Inc's Inventory Turnover for the three months ended in May. 2017 is calculated as

3. 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.

Steelcase Inc's Inventory to Revenue for the three months ended in May. 2017 is calculated as

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's 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.


Related Terms

Cost of Goods Sold, Inventory, Revenue, Inventory Turnover, Inventory to Revenue


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Steelcase Inc Annual Data

Feb08Feb09Feb10Feb11Feb12Feb13Feb14Feb15Feb16Feb17
DaysInventory 22.8422.5725.3823.9325.0825.2425.8127.0528.4529.11

Steelcase Inc Quarterly Data

Feb15May15Aug15Nov15Feb16May16Aug16Nov16Feb17May17
DaysInventory 31.0832.6529.7930.5730.2529.5129.6529.3429.8331.30
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