Newmont (Newmont) Inventory Turnover

: 1.30 (As of Dec. 2023)

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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. Newmont's Cost of Goods Sold for the three months ended in Dec. 2023 was $2,984 Mil. Newmont's Average Total Inventories for the quarter that ended in Dec. 2023 was $2,299 Mil. Newmont's Inventory Turnover for the quarter that ended in Dec. 2023 was 1.30.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Newmont's Days Inventory for the three months ended in Dec. 2023 was 70.30.

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. Newmont's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.58.

Newmont Inventory Turnover Historical Data

The historical data trend for Newmont'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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Newmont Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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4.54

4.05

4.34

4.89

4.01

Newmont 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															1.36	1.04	1.03	0.94	1.30

Newmont Inventory Turnover Calculation

Newmont'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 )
=	8807	/ (	(1753	+	2642)	/	2 )
=	8807	/	2197.5
=	4.01

Newmont'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 )
=	2984	/ (	(1956	+	2642)	/	2 )
=	2984	/	2299
=	1.30

Newmont (NYSE:NEM) 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.

Newmont'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
	=	2299	/	2984	*	365 / 4
	=	70.30

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.

Newmont'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 )
	=	2299	/	3957
	=	0.58

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.

Newmont Inventory Turnover Related Terms

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Newmont (Newmont) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Newmont Corp (NYSE:NEM) » Definitions » Inventory Turnover

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Address

6900 E Layton Avenue, Suite 700, Denver, CO, USA, 80237

Website

https://www.newmont.com

Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 7.3 million ounces of gold in 2023 pro forma for Newcrest on an annualized basis. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts from its various gold mines. It had about two decades of gold reserves along with significant byproduct reserves after acquiring Newcrest.

Executives

Robert D Atkinson	officer: EVP & COO	6363 S FIDDLERS GREEN CIRCLE, GREENWOOD VILLAGE CO 80111
Philip Aiken	director	6900 E. LAYTON AVENUE, SUITE 700, DENVER CO 80237
Sally-anne Layman	director	6900 E. LAYTON AVENUE, SUITE 700, DENVER CO 80237
Mark David Ebel	officer: Interim Chief Legal Officer	6900 E. LAYTON AVENUE, SUITE 700, DENVER CO 80237
Thomas Ronald Palmer	director, officer: President & CEO	6363 S FIDDLERS GREEN CIRCLE, GREENWOOD VILLAGE CO 80111
Natascha Viljoen	officer: EVP & COO	6900 E. LAYTON AVENUE, SUITE 700, DENVER CO 80237
Suzanne P Retallack	officer: CSSO	6900 E. LAYTON AVENUE, SUITE 700, DENVER CO 80237
Karyn F. Ovelmen	officer: EVP & CFO	STATIONSPLEIN 45, ROTTERDAM P7 3013AK
Aaron Puna	officer: EVP & CTO	6900 E. LAYTON AVE., SUITE 700, DENVER CO 80237
Mark Casper	officer: Acting CTO	7900 E LAYTON AVENUE, SUITE 700, DENVER CO 80237
Joshua Cage	officer: Interim Controller and CAO	6900 E LAYTON AVENUE, SUITE 700, DENVER CO 80237
Peter Toth	officer: EVP, Strategic Development	7900 E LAYTON AVENUE, SUITE 700, DENVER CO 80237
Nancy Buese	officer: EVP & CFO	1515 ARAPAHOE STREET, DENVER CO 80202-2126
Stephen P Gottesfeld	officer: EVP and Chief S&EA Officer	6363 SOUTH FIDDLER'S GREEN CIRCLE, GREENWOOD VILLAGE CO 80111
Patrick Awuah	director	7900 E LAYTON AVENUE, SUITE 700, DENVER CO 80237