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STEER Technologies (STEER Technologies) Inventory Turnover : 17.53 (As of Sep. 2023)


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What is STEER Technologies 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. STEER Technologies's Cost of Goods Sold for the three months ended in Sep. 2023 was $1.08 Mil. STEER Technologies's Average Total Inventories for the quarter that ended in Sep. 2023 was $0.06 Mil. STEER Technologies's Inventory Turnover for the quarter that ended in Sep. 2023 was 17.53.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. STEER Technologies's Days Inventory for the three months ended in Sep. 2023 was 5.21.

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. STEER Technologies's Inventory-to-Revenue for the quarter that ended in Sep. 2023 was 0.09.

STEER Technologies Inventory Turnover Historical Data

The historical data trend for STEER Technologies'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.

STEER Technologies Inventory Turnover Chart

STEER Technologies Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22
Inventory Turnover
- - 27.39 9.88 13.56

STEER Technologies Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
Inventory Turnover Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.51 7.37 10.17 22.24 17.53

STEER Technologies Inventory Turnover Calculation

STEER Technologies's Inventory Turnover for the fiscal year that ended in Dec. 2022 is calculated as

Inventory Turnover (A: Dec. 2022 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (A: Dec. 2022 ) / ((Total Inventories (A: Dec. 2021 ) + Total Inventories (A: Dec. 2022 )) / count )
=43.417 / ((4.245 + 2.158) / 2 )
=43.417 / 3.2015
=13.56

STEER Technologies's Inventory Turnover for the quarter that ended in Sep. 2023 is calculated as

Inventory Turnover (Q: Sep. 2023 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (Q: Sep. 2023 ) / ((Total Inventories (Q: Jun. 2023 ) + Total Inventories (Q: Sep. 2023 )) / count )
=1.078 / ((0.062 + 0.061) / 2 )
=1.078 / 0.0615
=17.53

* 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.

STEER Technologies  (OTCPK:STEEF) 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.

STEER Technologies's Days Inventory for the three months ended in Sep. 2023 is calculated as:

Days Inventory =Average Total Inventories (Q: Sep. 2023 )/Cost of Goods Sold (Q: Sep. 2023 )*Days in Period
=0.0615/1.078*365 / 4
=5.21

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.

STEER Technologies's Inventory to Revenue for the quarter that ended in Sep. 2023 is calculated as

Inventory-to-Revenue=Average Total Inventories (Q: Sep. 2023 ) / Revenue (Q: Sep. 2023 )
=0.0615 / 0.653
=0.09

* 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.

STEER Technologies Inventory Turnover Related Terms

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STEER Technologies (STEER Technologies) Business Description

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H1Y:Germany STER:Canada
Address
44 East Beaver Creek Road, Unit 16, Richmond Hill, ON, CAN, L4B 1G8
Website
https://www.steeresg.com
STEER Technologies Inc is an integrated ESG technology platform that moves people and delivers things through subscription and on-demand services. The company's goal is to build a one-of-a-kind system that aggregates conscientious users and enables them to buy, sell, or invest with the same platform. STEER offerings generally fall into two categories namely subscription-based offerings led by its flagship electric vehicle subscription business, STEER EV, and on-demand services incorporating B2B marketplace, Delivery-as-a-Service (DaaS), and rideshare businesses. The company's platform is powered by EcoCRED, it's analytics and machine learning engine which seeks to capture, analyze, parse, and report on key data points to measure the carbon impact.