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APA Total Inventories

: $492 Mil (As of Dec. 2020)
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APA's total inventories for the quarter that ended in Dec. 2020 was $492 Mil. APA's average total inventories from the quarter that ended in Sep. 2020 to the quarter that ended in Dec. 2020 was $498 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. APA's Net-Net Working Capital per share for the quarter that ended in Dec. 2020 was $-34.96.

Inventory can be measured by days sales of inventory (DSI). APA's days sales of inventory (DSI) for the three months ended in Dec. 2020 was 37.24.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. APA's Days Inventory for the three months ended in Dec. 2020 was 51.76.

Inventory Turnover measures how fast the company turns over its inventory within a year. APA's Inventory Turnover for the quarter that ended in Dec. 2020 was 1.76.

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. APA's Inventory-to-Revenue for the quarter that ended in Dec. 2020 was 0.41.

APA Total Inventories Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange currency.

* Premium members only.

APA Annual Data
Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Total Inventories Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 476.00 368.00 401.00 502.00 492.00

APA Quarterly Data
Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20
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 502.00 452.00 477.00 503.00 492.00

APA 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.

APA  (NAS:APA) 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.

APA's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2020 is

Net-Net Working Capital Per Share (Q: Dec. 2020 )
=(Cash And Cash Equivalents+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(262+0.75 * 908+0.5 * 492-13391
-0-994)/377.483
=-34.96

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

APA's Days Sales of Inventory for the three months ended in Dec. 2020 is

Days Sales of Inventory (DSI)
=Total Inventories (Q: Dec. 2020 )/Revenue (Q: Dec. 2020 )*Days in Period
=497.5/1219*365 / 4
=37.24

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

APA's Days Inventory for the three months ended in Dec. 2020 is calculated as:

Days Inventory=Total Inventories (Q: Dec. 2020 )/Cost of Goods Sold (Q: Dec. 2020 )*Days in Period
=497.5/877*365 / 4
=51.76

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

APA's Inventory Turnover for the quarter that ended in Dec. 2020 is calculated as

Inventory Turnover=Cost of Goods Sold (Q: Dec. 2020 ) / Total Inventories (Q: Dec. 2020 )
=877 / 497.5
=1.76

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.

APA's Inventory to Revenue for the quarter that ended in Dec. 2020 is calculated as

Inventory-to-Revenue=Total Inventories (Q: Dec. 2020 ) / Revenue (Q: Dec. 2020 )
=497.5 / 1219
=0.41

* All numbers are in millions except for per share data and ratio. All numbers are indicated in the company's associated stock exchange 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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