Okayama Paper Industries Co (TSE:3892) Days Inventory: 37.71 (As of Feb. 2026) — Near Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:3892 Okayama Paper Industries Co Ltd TSE:3892
71 GF Score
Price 円1,665.00
GF Value 円1,308.02
Valuation Modestly Overvalued
! 6 Warning Signs
View Full Analysis

What is Okayama Paper Industries Co Days Inventory?

Okayama Paper Industries Co TSE:3892 +0.18% 71 Days Inventory is 37.71 as of Feb. 2026, which is 4% below its 10-year median of 39.08. GuruFocus rates TSE:3892 with a GF Score™ of 71/100 and a GF Value™ of 円1,308.02 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 271 Forest Products companies, Okayama Paper Industries Co ranks better than 59.41% on this metric.

Days Inventory is also known as Days Sales of Inventory (DSI). Okayama Paper Industries Co's Average Total Inventories for the three months ended in Feb. 2026 was 円826 Mil. Okayama Paper Industries Co's Cost of Goods Sold for the three months ended in Feb. 2026 was 円1,999 Mil. Hence, Okayama Paper Industries Co's Days Inventory for the three months ended in Feb. 2026 was 37.71.

The historical rank and industry rank for Okayama Paper Industries Co's Days Inventory or its related term are showing as below:

TSE:3892' s Days Inventory Range Over the Past 10 Years
Min: 33.56   Med: 39.08   Max: 78.27
Current: 78.27

During the past 13 years, Okayama Paper Industries Co's highest Days Inventory was 78.27. The lowest was 33.56. And the median was 39.08.

TSE:3892's Days Inventory is ranked better than
59.41% of 271 companies
in the Forest Products industry
Industry Median: 89.94 vs TSE:3892: 78.27

Okayama Paper Industries Co's Days Inventory increased from Nov. 2024 (0.00) to Feb. 2026 (37.71). It might indicate that Okayama Paper Industries Co's sales slowed down.

Inventory Turnover measures how fast the company turns over its inventory within a year. Okayama Paper Industries Co's Inventory Turnover for the three months ended in Feb. 2026 was 2.42.

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. Okayama Paper Industries Co's Inventory-to-Revenue for the three months ended in Feb. 2026 was 0.31.


Okayama Paper Industries Co  (TSE:3892) Days Inventory Explanation

Days Inventory indicates the liquidity of the inventory. Generally, a lower Days Inventory is preferred as it indicates a shorter duration to clear off the inventory. An increase of the ratio may indicate the company's sales slowed. Similar ratios related to Days Inventory are:

1. Inventory Turnover measures how fast the company turns over its inventory within a year.

Okayama Paper Industries Co's Inventory Turnover for the three months ended in Feb. 2026 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.

Okayama Paper Industries Co's Inventory to Revenue for the three months ended in Feb. 2026 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

A lot of business are seasonable. It makes more sense to compare Days Inventory from the same period in the previous year instead of from the previous quarter.


Okayama Paper Industries Co Days Inventory Related Terms


Okayama Paper Industries Co Days Inventory Historical Data

* Premium members only.

The historical data trend for Okayama Paper Industries Co's Days Inventory 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.

Okayama Paper Industries Co Days Inventory Chart

Okayama Paper Industries Co Annual Data
Trend May17 May18 May19 May20 May21 May22 May23 May24 May25 May26
Days Inventory
Get a 7-Day Free Trial Premium Member Only Premium Member Only 34.12 33.56 39.38 38.77 37.73

Okayama Paper Industries Co Quarterly Data
Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Nov24 May25 Aug25 Nov25 Feb26 May26
Days Inventory 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 0.00 40.50 0.00 37.71 34.14

Okayama Paper Industries Co Days Inventory Competitor Comparison

For the Paper & Paper Products subindustry, Okayama Paper Industries Co's Days Inventory, along with its competitors' market caps and Days Inventory data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Okayama Paper Industries Co Days Inventory vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Okayama Paper Industries Co's Days Inventory distribution charts can be found below:

* The bar in red indicates where Okayama Paper Industries Co's Days Inventory falls into.


TSE:3892
71GF Score
Okayama Paper Industries Co Ltd TSE:3892
Days Inventory is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Okayama Paper Industries Co Days Inventory Calculation

Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Okayama Paper Industries Co's Days Inventory for the fiscal year that ended in May. 2026 is calculated as

Days Inventory (A: May. 2026 )
=Average Total Inventories / Cost of Goods Sold*Days in Period
=( (Total Inventories (A: May. 2025 ) + Total Inventories (A: May. 2026 )) / count ) / Cost of Goods Sold (A: May. 2026 )*Days in Period
=( (914.696 + 838.388) / 2 ) / 8480.596*365
=876.542 / 8480.596*365
=37.73

Okayama Paper Industries Co's Days Inventory for the quarter that ended in Feb. 2026 is calculated as:

Days Inventory (Q: Feb. 2026 )
=Average Total Inventories / Cost of Goods Sold*Days in Period
=( (Total Inventories (Q: Nov. 2025 ) + Total Inventories (Q: Feb. 2026 )) / count ) / Cost of Goods Sold (Q: Feb. 2026 )*Days in Period
=( (806.407 + 846.079) / 2 ) / 1999.274*365 / 4
=826.243 / 1999.274*365 / 4
=37.71

* 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.

Frequently Asked Questions Learn more about Days Inventory →
What does a Days Inventory of 37.71 mean?
Okayama Paper Industries Co (TSE:3892) has a Days Inventory of 37.71 as of Feb. 2026. Days inventory represents the average amount of days a company holds inventory before selling it. View historical data on Okayama Paper Industries Co and its competitors. This is near median its historical median of 39.08. Over the past decade, Okayama Paper Industries Co's Days Inventory has ranged from 33.56 to 78.27. According to the industry distribution chart, Okayama Paper Industries Co ranks #110 out of 271 companies in the Forest Products industry, placing it in the top 40.6%.
Is Okayama Paper Industries Co's Days Inventory too high?
Okayama Paper Industries Co's current Days Inventory of 37.71 is near median its 10-year median of 39.08. Over the past 10 years, this metric has ranged from a low of 33.56 to a high of 78.27. The Forest Products industry median Days Inventory is 89.94. Okayama Paper Industries Co's value of 37.71 is 58.1% below this industry median. Based on the distribution chart, Okayama Paper Industries Co ranks #110 out of 271 companies in the Forest Products industry, which is above the industry midpoint. Overall, Okayama Paper Industries Co has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Okayama Paper Industries Co's Days Inventory compare to competitors?
According to the Forest Products industry distribution chart, Okayama Paper Industries Co ranks #110 out of 271 companies for Days Inventory. This puts Okayama Paper Industries Co in the upper half of its industry. The industry median Days Inventory is 89.94. Okayama Paper Industries Co's value of 37.71 is 58.1% below this benchmark. Historically, Okayama Paper Industries Co's own Days Inventory has ranged from 33.56 to 78.27 over the past decade. While the company's 10-year median is 39.08 vs. the industry median of 89.94, Okayama Paper Industries Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Inventory for a Forest Products company?
The median Days Inventory among Forest Products companies is 89.94, based on 271 companies in the industry. Companies in the top quartile (top 25%) have a Days Inventory significantly above this median, while those in the bottom quartile fall well below. However, Days Inventory should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Okayama Paper Industries Co's current Days Inventory of 37.71 is 58.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Inventory mean?
A high Days Inventory can signal that a stock is expensive relative to its fundamentals. Days inventory represents the average amount of days a company holds inventory before selling it. View historical data on Okayama Paper Industries Co and its competitors. For the Forest Products industry, the median Days Inventory is 89.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Okayama Paper Industries Co's current Days Inventory is 37.71, which is near median its own 10-year median of 39.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Okayama Paper Industries Co stock overvalued right now?
Based on GuruFocus' analysis, Okayama Paper Industries Co (TSE:3892) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,308.02, compared to a current price of 円1,665.00 — trading 27.3% above its estimated fair value. The current Days Inventory is 37.71, which is near median its 10-year median of 39.08 and 58.1% below the Forest Products industry median of 89.94. Okayama Paper Industries Co's overall GF Score™ is 71/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Inventory calculated?
Days Inventory is calculated from a company's financial statements. For Okayama Paper Industries Co (TSE:3892), the current Days Inventory is 37.71 as of Feb. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Okayama Paper Industries Co (TSE:3892) Overvalued in 2026?

Based on GuruFocus' analysis, Okayama Paper Industries Co stock appears to be overvalued. The current stock price of 円1,665.00 is trading 27.3% above its estimated GF Value™ of 円1,308.02. GuruFocus considers Okayama Paper Industries Co to be Modestly Overvalued.

Key valuation signals for TSE:3892:

  • Days Inventory: 37.71 (near median its 10-year median of 39.08)
  • GF Value™: 円1,308.02 vs. price of 円1,665.00 (27.3% above fair value)
  • GF Score™: 71/100 with 6 warning signs
  • Industry Position: 58.1% below the Forest Products median (#110 of 271)

No single metric tells the full story. See the TSE:3892 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Okayama Paper Industries Co Business Description

Address No. 4 No. 34, Minami-ku, Hamano 1-chome, Okayama, JPN, 700-0845
Okayama Paper Industries Co Ltd is engaged in manufacturing and sales of SMIC raw paper, paper tube base paper, flat sheet. It is in a packaging material field as a manufacturer of cardboard and decorative corrugated cardboard made of core paper and paper tube base paper. It offers products such as base papers, containerboard, stencil paper tubes, paper tube base papers, and cardboard plates.
71GF Score

Get the complete analysis for TSE:3892

Days Inventory is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円1,665.00
Price
円1,308.02
GF Value