Ossen Innovation Co (Ossen Innovation Co) Inventory Turnover : 2.15 (As of Dec. 2020)

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What is Ossen Innovation Co 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. Ossen Innovation Co's Cost of Goods Sold for the six months ended in Dec. 2020 was $70.3 Mil. Ossen Innovation Co's Average Total Inventories for the quarter that ended in Dec. 2020 was $32.7 Mil. Ossen Innovation Co's Inventory Turnover for the quarter that ended in Dec. 2020 was 2.15.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Ossen Innovation Co's Days Inventory for the six months ended in Dec. 2020 was 84.95.

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. Ossen Innovation Co's Inventory-to-Revenue for the quarter that ended in Dec. 2020 was 0.39.

Ossen Innovation Co Inventory Turnover Historical Data

The historical data trend for Ossen Innovation Co'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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Ossen Innovation Co Inventory Turnover Chart

Ossen Innovation Co Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Inventory Turnover

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3.79

5.96

7.54

7.22

4.31

Ossen Innovation Co Semi-Annual Data
	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20
Inventory Turnover	Get a 7-Day Free Trial															3.60	4.11	4.99	2.11	2.15

Ossen Innovation Co Inventory Turnover Calculation

Ossen Innovation Co's Inventory Turnover for the fiscal year that ended in Dec. 2020 is calculated as

	Inventory Turnover (A: Dec. 2020 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2020 )	/ (	(Total Inventories (A: Dec. 2019 )	+	Total Inventories (A: Dec. 2020 ))	/	count )
=	114.855	/ (	(15.1	+	38.209)	/	2 )
=	114.855	/	26.6545
=	4.31

Ossen Innovation Co's Inventory Turnover for the quarter that ended in Dec. 2020 is calculated as

	Inventory Turnover (Q: Dec. 2020 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2020 )	/ (	(Total Inventories (Q: Jun. 2020 )	+	Total Inventories (Q: Dec. 2020 ))	/	count )
=	70.267	/ (	(27.204	+	38.209)	/	2 )
=	70.267	/	32.7065
=	2.15

Ossen Innovation Co (NAS:OSN) 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.

Ossen Innovation Co's Days Inventory for the six months ended in Dec. 2020 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2020 )	/	Cost of Goods Sold (Q: Dec. 2020 )	*	Days in Period
	=	32.7065	/	70.267	*	365 / 2
	=	84.95

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.

Ossen Innovation Co's Inventory to Revenue for the quarter that ended in Dec. 2020 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2020 )	/	Revenue (Q: Dec. 2020 )
	=	32.7065	/	83.727
	=	0.39

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.

Ossen Innovation Co Inventory Turnover Related Terms

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Ossen Innovation Co (Ossen Innovation Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Ossen Innovation Co Ltd (NAS:OSN) » Definitions » Inventory Turnover

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Traded in Other Exchanges

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Address

518 Shangcheng Road, Floor 17, Shanghai, CHN, 200120

Website

http://www.osseninnovation.com

Ossen Innovation Co Ltd designs, engineers, manufactures, and sells prestressed steel materials. The company's materials are used in the construction of bridges, highways and other infrastructure projects in the People's Republic of China and internationally. Its product is categorized as coated products and uncoated products. Its coated products include zinc, rare earth and plain surface prestressed concrete.It is used in the construction of new bridges and the renovation of older bridges. Uncoated products consist of wires that are twisted into a bundle and used in precast concrete plates on the riding surface of bridges. It is categorized based on size, strength, and structure.