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. The Middleby's Cost of Goods Sold for the
three
months ended in Dec. 2023 was $622 Mil. The Middleby's Average Total Inventories for the quarter that ended in Dec. 2023 was $975 Mil.
The Middleby's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.64.
Days Inventory indicates the number of days of goods in sales that a company has in the inventory.
The Middleby's Days Inventory for the
three
months ended in Dec. 2023 was 143.15.
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.
The Middleby's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.97.
The Middleby Inventory Turnover Historical Data
The historical data trend for The Middleby'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.
* 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.
The Middleby (NAS:MIDD) 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.
The Middleby's Days Inventory for the
three
months ended in Dec. 2023 is calculated as:
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.
The Middleby's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as
* 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.
The Middleby Inventory Turnover Related Terms
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The Middleby Corp is engaged in designing, manufacturing, marketing, distribution and service of a broad line of foodservice equipment used in all types of commercial restaurants and institutional kitchens, food preparation, cooking, baking, chilling and packaging equipment for food processing operations, and premium kitchen equipment including ranges, ovens, refrigerators, ventilation, dishwashers and outdoor cooking equipment primarily used in the residential market. The company conducts its business through three principal business segments namely the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group. The firm derives majority revenue from Commercial Foodservice Equipment Group segment.
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