Air T (AIRT) Inventory Turnover

: 0.95 (As of Dec. 2023)

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Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Air T's Cost of Goods Sold for the three months ended in Dec. 2023 was $51.5 Mil. Air T's Average Total Inventories for the quarter that ended in Dec. 2023 was $54.2 Mil. Air T's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.95.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Air T's Days Inventory for the three months ended in Dec. 2023 was 96.00.

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. Air T's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.85.

Air T Inventory Turnover Historical Data

The historical data trend for Air T's Inventory Turnover 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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Air T Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Inventory Turnover

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5.59

4.31

2.16

1.87

2.71

Air T Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															0.57	0.80	0.86	1.09	0.95

Air T Inventory Turnover Calculation

Air T's Inventory Turnover for the fiscal year that ended in Mar. 2023 is calculated as

	Inventory Turnover (A: Mar. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Mar. 2023 )	/ (	(Total Inventories (A: Mar. 2022 )	+	Total Inventories (A: Mar. 2023 ))	/	count )
=	198.498	/ (	(75.167	+	71.125)	/	2 )
=	198.498	/	73.146
=	2.71

Air T's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	51.489	/ (	(54.456	+	53.887)	/	2 )
=	51.489	/	54.1715
=	0.95

Air T (NAS:AIRT) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

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

Air T's Days Inventory for the three 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
	=	54.1715	/	51.489	*	365 / 4
	=	96.00

2. 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.

Air T'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 )
	=	54.1715	/	63.756
	=	0.85

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Air T Inventory Turnover Related Terms

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Air T (AIRT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Air T Inc (NAS:AIRT) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

AIRTP.PFD:USA GXT:Germany

Address

11020 David Taylor Drive, Suite 305, Charlotte, NC, USA, 28262

Website

https://www.airt.net

Air T Inc together with its subsidiaries provides air freight service to the express delivery industry. The company's operating segments include Overnight air cargo, Ground equipment sales, and Ground support services, Commercial jet engines and parts, Corporate and Other. It generates maximum revenue from the Overnight air cargo segment.

Executives

Raymond E Cabillot	director, 10 percent owner	3033 EXCELSIOR BLVD., STE 560, MINNEAPOLIS MN 55416
Peter B. Mcclung	director	14101 SOUTHERN ROAD, GRANDVIEW MO 64030
Nicholas John Swenson	10 percent owner	5000 WEST 36TH STREET, SUITE 130, MINNEAPOLIS MN 55416
Gary S Kohler	director	5000 W 36TH STREET, SUITE 115, MINNEAPOLIS MN 55416
Seth G Barkett	director	495 WEST MT. GARFIELD ROAD, NORTON SHORES MI 49441
Brett Reynolds	officer: CFO	5000 W 36TH STREET, MINNEAPOLIS MN 55416
John A Reeves	director	570 BALLYMOTE COURT, MATTHEWS NC 28104
Travis Jacob Swenson	director	6016 EDEN PRAIRIE ROAD, MINNETONKA MN 55345
Air T Inc	10 percent owner	11020 DAVID TAYLOR DRIVE, SUITE 305, CHARLOTTE NC 28262
Koutsouvas Constantine	officer: General Counsel	AIR T, INC., 5000 WEST 36TH, SUITE 130, MINNEAPOLIS MN 55416
William R Foudray	director	19192 POPLAR CIRCLE, EDEN PRAIRIE MN 55347
Biglari Capital Corp.	10 percent owner	19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO TX 78259
Sardar Biglari,	10 percent owner	C/O BIGLARI HOLDINGS INC., 19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO TX 78259
Lion Fund Ii, L.p.	10 percent owner	19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO TX 78259
Andrew Stumpf	director	5444 CREEKMONTE DR., OAKLAND TWP MI 48306