Cenovus Energy (Cenovus Energy) Inventory Turnover

: 2.59 (As of Dec. 2023)

View and export this data going back to 2009. Start your Free Trial

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. Cenovus Energy's Cost of Goods Sold for the three months ended in Dec. 2023 was $8,491 Mil. Cenovus Energy's Average Total Inventories for the quarter that ended in Dec. 2023 was $3,282 Mil. Cenovus Energy's Inventory Turnover for the quarter that ended in Dec. 2023 was 2.59.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Cenovus Energy's Days Inventory for the three months ended in Dec. 2023 was 35.26.

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. Cenovus Energy's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.31.

Cenovus Energy Inventory Turnover Historical Data

The historical data trend for Cenovus Energy'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.

Cenovus Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

Get a 7-Day Free Trial

13.78

11.05

15.86

12.90

10.32

Cenovus Energy 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															2.74	2.40	2.40	2.43	2.59

Cenovus Energy Inventory Turnover Calculation

Cenovus Energy'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 )
=	31879.845	/ (	(3174.089	+	3003.876)	/	2 )
=	31879.845	/	3088.9825
=	10.32

Cenovus Energy'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 )
=	8491.354	/ (	(3559.234	+	3003.876)	/	2 )
=	8491.354	/	3281.555
=	2.59

Cenovus Energy (NYSE:CVE) 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.

Cenovus Energy'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
	=	3281.555	/	8491.354	*	365 / 4
	=	35.26

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.

Cenovus Energy'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 )
	=	3281.555	/	10462.135
	=	0.31

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.

Cenovus Energy Inventory Turnover Related Terms

Thank you for viewing the detailed overview of Cenovus Energy's Inventory Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.

Cenovus Energy (Cenovus Energy) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Cenovus Energy Inc (NYSE:CVE) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

CXD:Germany CXD:Germany CVE.PR.B.PFD:Canada CVE.PR.A.PFD:Canada CVE.PR.C.PFD:Canada CVE.PR.G.PFD:Canada CVE.PR.E.PFD:Canada CVE:Canada

Address

225 - 6 Avenue SW, Suite 4100, Calgary, AB, CAN, T2P 1N2

Website

https://www.cenovus.com

Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 786 thousand barrels of oil equivalent per day in 2022. The company had upstream projects across Western Canada; crude oil production and natural gas and NGLs production offshore China and Indonesia. The downstream operations include upgrading and refining operations in Canada and the U.S., and commercial fuel operations across Canada.