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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. inTest's Cost of Goods Sold for the three months ended in Mar. 2024 was $16.7 Mil. inTest's Average Total Inventories for the quarter that ended in Mar. 2024 was $25.7 Mil. inTest's Inventory Turnover for the quarter that ended in Mar. 2024 was 0.65.
Days Inventory indicates the number of days of goods in sales that a company has in the inventory. inTest's Days Inventory for the three months ended in Mar. 2024 was 140.08.
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. inTest's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.86.
The historical data trend for inTest'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.
inTest Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Inventory Turnover | Get a 7-Day Free Trial | 4.59 | 4.05 | 4.29 | 3.58 | 3.11 |
inTest 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 | 0.72 | 0.74 | 0.73 | 0.73 | 0.65 |
inTest'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 ) |
= | 66.324 | / ( | (22.565 | + | 20.089) | / | 2 ) |
= | 66.324 | / | 21.327 | ||||
= | 3.11 |
inTest'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 ) |
= | 16.748 | / ( | (20.089 | + | 31.331) | / | 2 ) |
= | 16.748 | / | 25.71 | ||||
= | 0.65 |
* 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.
inTest (AMEX:INTT) 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.
inTest'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 |
= | 25.71 | / | 16.748 | * | 365 / 4 | |
= | 140.08 |
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.
inTest'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 ) |
= | 25.71 | / | 29.824 | |
= | 0.86 |
* 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.
Thank you for viewing the detailed overview of inTest's Inventory Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
Dews Joseph W Iv | director | C/O INTEST CORP, 804 EAST GATE DR., SUITE 200, MT. LAUREL NJ 08054 |
Scott Eric Nolen | officer: Division Pres-Process Tech | C/O INTEST CORP, 804 EAST GATE DRIVE, MT LAUREL NJ 08054 |
Michael Tanniru | officer: Div. President, Envir. Tech. | C/O INTEST CORP, 804 EAST GATE DR, SUITE 200, MT. LAUREL NJ 08054 |
Grant Richard N. Jr. | director, officer: President & CEO | C/O INTEST CORP, 804 EAST GATE DR, SUITE 200, MT. LAUREL NJ 08054 |
Gregory Martel | officer: VP&GM-Environmental Tech | C/O INTEST CORP, 804 EAST GATE DRIVE, MT LAUREL NJ 08054 |
Mcmanus Joseph Richard Jr. | officer: Division Pres-Electronic Test | C/O INTEST CORP, 804 EAST GATE DRIVE, MT LAUREL NJ 08054 |
Duncan Gilmour | officer: CFO, Treasurer & Secretary | 804 EAST GATE DRIVE, SUITE 200, MT. LAUREL NJ 08054 |
Gerald J. Maginnis | director | 280 PARK AVENUE, 10TH FLOOR, NEW YORK NY 10023 |
James Pelrin | officer: GM-Temp Mgmt Product Segment | C/O INTEST CORP, 804 EAST GATE DRIVE, SUITE 200, MT. LAUREL NJ 08054 |
Jeffrey A Beck | director | C/O INTEST CORP, 804 EAST GATE DR., SUITE 200, MT. LAUREL NJ 08054 |
William Kraut | director | C/O INTEST CORP, 804 EAST GATE DR., SUITE 200, MT. LAUREL NJ 08054 |
Robert E Matthiessen | director, officer: President and CEO | C/O INTEST CORP, 804 EAST GATE DRIVE, SUITE 200, MT. LAUREL NJ 08054 |
Nokomis Capital, L.l.c. | 10 percent owner | 1717 MCKINNEY AVENUE, SUITE 850, DALLAS TX 75202 |
Satterfield Thomas A Jr | 10 percent owner | 2609 CALDWELL MILL LN, BIRMINGHAM AL 35243 |
Kristen Holt Thompson | other: Member of 10% 13d Group | C/O INTEST CORP, 804 EAST GATE DR., SUITE 200, MT. LAUREL NJ 08054 |
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