Apple (FRA:APC) Inventory Turnover : 9.97 (As of Dec. 2023)

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What is Apple 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. Apple's Cost of Goods Sold for the three months ended in Dec. 2023 was €59,348 Mil. Apple's Average Total Inventories for the quarter that ended in Dec. 2023 was €5,951 Mil. Apple's Inventory Turnover for the quarter that ended in Dec. 2023 was 9.97.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Apple's Days Inventory for the three months ended in Dec. 2023 was 9.15.

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. Apple's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.05.

Apple Inventory Turnover Historical Data

The historical data trend for Apple'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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Apple Inventory Turnover Chart

Apple Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Inventory Turnover

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41.27

40.12

40.05

42.65

36.72

Apple 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															11.03	7.35	6.08	7.23	9.97

Apple Inventory Turnover Calculation

Apple's Inventory Turnover for the fiscal year that ended in Sep. 2023 is calculated as

	Inventory Turnover (A: Sep. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Sep. 2023 )	/ (	(Total Inventories (A: Sep. 2022 )	+	Total Inventories (A: Sep. 2023 ))	/	count )
=	200646.369	/ (	(4995.46	+	5932.147)	/	2 )
=	200646.369	/	5463.8035
=	36.72

Apple'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 )
=	59348.24	/ (	(5932.147	+	5970.587)	/	2 )
=	59348.24	/	5951.367
=	9.97

Apple (FRA:APC) 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.

Apple'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
	=	5951.367	/	59348.24	*	365 / 4
	=	9.15

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.

Apple'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 )
	=	5951.367	/	109650.275
	=	0.05

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.

Apple Inventory Turnover Related Terms

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Apple (FRA:APC) Business Description

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One Apple Park Way, Cupertino, CA, USA, 95014

Website

https://www.apple.com

Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.