SORL Auto Parts (SORL Auto Parts) Total Inventories

: $191.2 Mil (As of Sep. 2019)

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SORL Auto Parts's total inventories for the quarter that ended in Sep. 2019 was $191.2 Mil. SORL Auto Parts's average total inventories from the quarter that ended in Jun. 2019 to the quarter that ended in Sep. 2019 was $187.3 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. SORL Auto Parts's Net-Net Working Capital per share for the quarter that ended in Sep. 2019 was $-14.65.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. SORL Auto Parts's Days Inventory for the three months ended in Sep. 2019 was 210.29.

Inventory Turnover measures how fast the company turns over its inventory within a year. SORL Auto Parts's Inventory Turnover for the quarter that ended in Sep. 2019 was 0.43.

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. SORL Auto Parts's Inventory-to-Revenue for the quarter that ended in Sep. 2019 was 1.67.

SORL Auto Parts Total Inventories Historical Data

The historical data trend for SORL Auto Parts's Total Inventories 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.

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SORL Auto Parts Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Total Inventories

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84.19

73.66

65.78

114.30

204.29

SORL Auto Parts Quarterly Data
	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19
Total Inventories	Get a 7-Day Free Trial															159.12	204.29	187.38	183.52	191.18

SORL Auto Parts 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.

SORL Auto Parts (NAS:SORL) 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.

SORL Auto Parts's Net-Net Working Capital Per Share for the quarter that ended in Sep. 2019 is

	Net-Net Working Capital Per Share (Q: Sep. 2019 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(16.485	+	0.75 * 158.189	+	0.5 * 191.179	-	483.291
-	0	-	30.21)	/	19.3049
=	-14.65

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

SORL Auto Parts's Days Inventory for the three months ended in Sep. 2019 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Sep. 2019 )	/	Cost of Goods Sold (Q: Sep. 2019 )	*	Days in Period
	=	187.349	/	81.294	*	365 / 4
	=	210.29

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

SORL Auto Parts's Inventory Turnover for the quarter that ended in Sep. 2019 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Sep. 2019 )	/	Average Total Inventories (Q: Sep. 2019 )
	=	81.294	/	187.349
	=	0.43

4. 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.

SORL Auto Parts's Inventory to Revenue for the quarter that ended in Sep. 2019 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Sep. 2019 )	/	Revenue (Q: Sep. 2019 )
	=	187.349	/	112.227
	=	1.67

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.

SORL Auto Parts Total Inventories Related Terms

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SORL Auto Parts (SORL Auto Parts) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » SORL Auto Parts Inc (NAS:SORL) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

N/A

Address

NO. 2666 KaiFaqu Avenue, Ruili Industry Area, Zhejiang Province, Ruian City, CHN, 325200

Website

http://www.sorl.cn

SORL Auto Parts Inc develops, manufactures and distributes automotive brake systems and other key safety-related auto parts to automotive original equipment manufacturers, and the related aftermarket both in China and internationally. The company is organized into two principal operating division: Commercial Vehicles Brake Systems and Passenger Vehicles Brake Systems. Its key products are air brake system, tubes and fittings, ABS and diagnosis, power steering pumps, electrical and railway parts, and new energy parts. The company's products are principally used in different types of commercial vehicles, such as trucks and buses. Most of the firm's revenue gets generated through Commercial Vehicles Brake Systems segment.

Executives

Kevin R Keating

director, officer: President

190 LAKEVIEW WAY, VERO BEACH FL 32963