Universal Music Group NV (WBO:UMG) Total Inventories

: €210 Mil (As of Dec. 2023)

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Universal Music Group NV's total inventories for the quarter that ended in Dec. 2023 was €210 Mil. Universal Music Group NV's average total inventories from the quarter that ended in Jun. 2023 to the quarter that ended in Dec. 2023 was €207 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Universal Music Group NV's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was €-4.63.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Universal Music Group NV's Days Inventory for the six months ended in Dec. 2023 was 11.12.

Inventory Turnover measures how fast the company turns over its inventory within a year. Universal Music Group NV's Inventory Turnover for the quarter that ended in Dec. 2023 was 16.41.

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. Universal Music Group NV's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.03.

Universal Music Group NV Total Inventories Historical Data

The historical data trend for Universal Music Group NV'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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Universal Music Group NV Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

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90.00

79.00

99.00

163.00

210.00

Universal Music Group NV Semi-Annual Data
	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Total Inventories	Get a 7-Day Free Trial					99.00	128.00	163.00	204.00	210.00

Universal Music Group NV 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.

Universal Music Group NV (WBO:UMG) 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.

Universal Music Group NV's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(110	+	0.75 * 1986	+	0.5 * 210	-	10108
-	0	-	21)	/	1821.45
=	-4.63

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

Universal Music Group NV's Days Inventory for the six months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	207	/	3397	*	365 / 2
	=	11.12

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

Universal Music Group NV's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	3397	/	207
	=	16.41

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.

Universal Music Group NV's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	207	/	5960
	=	0.03

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.

Universal Music Group NV Total Inventories Related Terms

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Universal Music Group NV (WBO:UMG) Business Description

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GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Universal Music Group NV (WBO:UMG) » Definitions » Total Inventories

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UNVGY:USA UMGNF:USA UMG:Netherlands UMGa:UK 0VD:Germany

Address

Gravelandseweg 80, Hilversum, NH, NLD, 1217 EW

Website

https://www.universalmusic.com

Universal Music Group is the largest of the three major global record labels with Sony Music in second and Warner Music in third. Universal's larger segment, recorded music, consists of iconic labels like Interscope, Capitol Music, Decca, EMI, and Motown and popular artists such as Drake, Taylor Swift, J Balvin, and Luke Bryan. Universal Music Publishing Group owns and administers almost 4 million compositions and is the second-largest music publisher behind Sony. Universal Music was spun out of Vivendi in September 2021, with 60% distributed to Vivendi shareholders, 20% to Tencent, 10% to Pershing Square Capital, and 10% remaining at Vivendi.

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