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Electro Rent Corp  (NAS:ELRC) Total Inventories: $0.0 Mil (As of Feb. 2016)

Electro Rent Corp's total inventories for the quarter that ended in Feb. 2016 was $0.0 Mil. Electro Rent Corp's average total inventories from the quarter that ended in Nov. 2015 to the quarter that ended in Feb. 2016 was $0.0 Mil.

In Ben Graham's calculation of liquidation value, inventory is only considered worth half of its book value. Electro Rent Corp's liquidation value for the quarter that ended in Feb. 2016 was $-27.0 Mil.

Inventory can be measured by days sales of inventory (DSI). Electro Rent Corp's days sales of inventory (DSI) for the three months ended in Feb. 2016 was 0.00.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Electro Rent Corp's Days Inventory for the three months ended in Feb. 2016 was 0.00.

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

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. Electro Rent Corp's Inventory-to-Revenue for the quarter that ended in Feb. 2016 was 0.00.


Historical Data

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

* Premium members only.

Electro Rent Corp Annual Data

May06 May07 May08 May09 May10 May11 May12 May13 May14 May15
Total Inventories Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Electro Rent Corp Quarterly Data

May11 Aug11 Nov11 Feb12 May12 Aug12 Nov12 Feb13 May13 Aug13 Nov13 Feb14 May14 Aug14 Nov14 Feb15 May15 Aug15 Nov15 Feb16
Total Inventories Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

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.


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 liquidation value, inventory is only considered worth half of its book value.

Electro Rent Corp's liquidation value for the quarter that ended in Feb. 2016 is

Liquidation value (Q: Feb. 2016 )
=Cash, Cash Equivalents, Marketable Securities-Total Liabilities+(0.75 * Accounts Receivable)+(0.5 * Total Inventories)
=18.234-62.07+0.75 * 22.471+0.5 * 0
=-27.0

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

Electro Rent Corp's Days Sales of Inventory for the three months ended in Feb. 2016 is

Days Sales of Inventory (DSI)
=Total Inventories (Q: Feb. 2016 )/Revenue (Q: Feb. 2016 )*Days in Period
=0/39.498*365 / 4
=0.00

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

Electro Rent Corp's Days Inventory for the three months ended in Feb. 2016 is calculated as:

Days Inventory=Total Inventories (Q: Feb. 2016 )/Cost of Goods Sold (Q: Feb. 2016 )*Days in Period
=0/10.582*365 / 4
=0.00

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

Electro Rent Corp's Inventory Turnover for the quarter that ended in Feb. 2016 is calculated as

Inventory Turnover=Cost of Goods Sold (Q: Feb. 2016 ) / Total Inventories (Q: Feb. 2016 )
=10.582 / 0
=N/A

5. 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.

Electro Rent Corp's Inventory to Revenue for the quarter that ended in Feb. 2016 is calculated as

Inventory-to-Revenue=Total Inventories (Q: Feb. 2016 ) / Revenue (Q: Feb. 2016 )
=0 / 39.498
=0.00

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


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.


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