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Ardmore Shipping (Ardmore Shipping) Inventory Turnover : 3.28 (As of Mar. 2024)


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What is Ardmore Shipping Inventory Turnover?

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. Ardmore Shipping's Cost of Goods Sold for the three months ended in Mar. 2024 was $40.1 Mil. Ardmore Shipping's Average Total Inventories for the quarter that ended in Mar. 2024 was $12.2 Mil. Ardmore Shipping's Inventory Turnover for the quarter that ended in Mar. 2024 was 3.28.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Ardmore Shipping's Days Inventory for the three months ended in Mar. 2024 was 27.84.

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. Ardmore Shipping's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.12.


Ardmore Shipping Inventory Turnover Historical Data

The historical data trend for Ardmore Shipping'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.

* Premium members only.

Ardmore Shipping Inventory Turnover Chart

Ardmore Shipping Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Inventory Turnover
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.18 11.17 11.57 14.19 11.96

Ardmore Shipping Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Inventory Turnover Get a 7-Day Free Trial 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 3.05 2.81 2.71 3.13 3.28

Ardmore Shipping Inventory Turnover Calculation

Ardmore Shipping's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

Inventory Turnover (A: Dec. 2023 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (A: Dec. 2023 ) / ((Total Inventories (A: Dec. 2022 ) + Total Inventories (A: Dec. 2023 )) / count )
=169.101 / ((15.718 + 12.558) / 2 )
=169.101 / 14.138
=11.96

Ardmore Shipping's Inventory Turnover for the quarter that ended in Mar. 2024 is calculated as

Inventory Turnover (Q: Mar. 2024 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (Q: Mar. 2024 ) / ((Total Inventories (Q: Dec. 2023 ) + Total Inventories (Q: Mar. 2024 )) / count )
=40.132 / ((12.558 + 11.934) / 2 )
=40.132 / 12.246
=3.28

* 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.


Ardmore Shipping  (NYSE:ASC) 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.

Ardmore Shipping's Days Inventory for the three months ended in Mar. 2024 is calculated as:

Days Inventory =Average Total Inventories (Q: Mar. 2024 )/Cost of Goods Sold (Q: Mar. 2024 )*Days in Period
=12.246/40.132*365 / 4
=27.84

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.

Ardmore Shipping's Inventory to Revenue for the quarter that ended in Mar. 2024 is calculated as

Inventory-to-Revenue=Average Total Inventories (Q: Mar. 2024 ) / Revenue (Q: Mar. 2024 )
=12.246 / 106.301
=0.12

* 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.


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.


Ardmore Shipping Inventory Turnover Related Terms

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Ardmore Shipping (Ardmore Shipping) Business Description

Traded in Other Exchanges
Address
69 Pitts Bay Road, Belvedere Building, Ground Floor, Pembroke, Hamilton, BMU, HM08
Ardmore Shipping Corp owns and operates a fleet of mid-size product and chemical tankers, which provide seaborne transportation of petroleum products and chemicals across the globe. The company is focused on fuel efficiency and cost leadership, and it provides its shipping services to customers through voyage charters, commercial pools, and time charters. Its main customers are oil majors, national oil companies, oil and chemical traders, and chemical companies.