WKSP (Worksport) Inventory-to-Revenue : 2.01 (As of Sep. 2024)

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What is Worksport Inventory-to-Revenue?

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. Worksport's Average Total Inventories for the quarter that ended in Sep. 2024 was $6.26 Mil. Worksport's Revenue for the three months ended in Sep. 2024 was $3.12 Mil. Worksport's Inventory-to-Revenue for the quarter that ended in Sep. 2024 was 2.01.

Worksport's Inventory-to-Revenue for the quarter that ended in Sep. 2024 declined from Jun. 2024 (3.36) to Jun. 2024 (2.01)

A decrease in the Inventory-to-Revenue from one quarter to next indicates that one of these is occurring:

1. investment in inventory is shrinking in relation to revenue
2. revenue are increasing
No matter which situation is causing the reduction in the Inventory-to-Revenue, either one suggests that business's inventory levels and its cash flow are effectively managed.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Worksport's Days Inventory for the three months ended in Sep. 2024 was 198.77.

Inventory Turnover measures how fast the company turns over its inventory within a year. Worksport's Inventory Turnover for the quarter that ended in Sep. 2024 was 0.46.

Worksport Inventory-to-Revenue Historical Data

The historical data trend for Worksport's Inventory-to-Revenue 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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Worksport Inventory-to-Revenue Chart

Worksport Annual Data

Trend

Sep14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory-to-Revenue

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0.11

0.22

0.89

7.90

1.63

Worksport Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Inventory-to-Revenue	Get a 7-Day Free Trial															7.02	4.28	9.91	3.36	2.01

Competitive Comparison of Worksport's Inventory-to-Revenue

For the Auto Parts subindustry, Worksport's Inventory-to-Revenue, along with its competitors' market caps and Inventory-to-Revenue 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.

Worksport's Inventory-to-Revenue Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Worksport's Inventory-to-Revenue distribution charts can be found below:

* The bar in red indicates where Worksport's Inventory-to-Revenue falls into.

Worksport Inventory-to-Revenue Calculation

Worksport's Inventory-to-Revenue for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory-to-Revenue (A: Dec. 2023 )
=	Average Total Inventories					/	Revenue
=	( (Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )	/	Revenue (A: Dec. 2023 )
=	( (1.346	+	3.631)	/	2 )	/	1.53
=	2.4885					/	1.53
=	1.63

Worksport's Inventory-to-Revenue for the quarter that ended in Sep. 2024 is calculated as

	Inventory-to-Revenue (Q: Sep. 2024 )
=	Average Total Inventories					/	Revenue
=	( (Total Inventories (Q: Jun. 2024 )	+	Total Inventories (Q: Sep. 2024 ))	/	count )	/	Revenue (Q: Sep. 2024 )
=	( (6.387	+	6.138)	/	2 )	/	3.122
=	6.2625					/	3.122
=	2.01

Worksport (NAS:WKSP) Inventory-to-Revenue Explanation

An increase in Inventory-to-Revenue from one quarter to the next indicates that one of the following is happening:

1. investment in inventory is growing more rapidly than revenue
2. revenue are dropping
No matter which situation is causing the problem, an increase in the Inventory-to-Revenue may signal an oncoming cash flow problem.

Likewise, a decrease in the Inventory-to-Revenue from one quarter to next indicates that one of these is occurring:

More Related Terms:

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

Worksport's Days Inventory for the three months ended in Sep. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Sep. 2024 )	/	Cost of Goods Sold (Q: Sep. 2024 )	*	Days in Period
	=	6.2625	/	2.875	*	365 / 4
	=	198.77

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

Worksport's Inventory Turnover for the quarter that ended in Sep. 2024 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Sep. 2024 )	/	Average Total Inventories (Q: Sep. 2024 )
	=	2.875	/	6.2625
	=	0.46

Worksport Inventory-to-Revenue Related Terms

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Worksport Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Worksport Ltd (NAS:WKSP) » Definitions » Inventory-to-Revenue

Comparable Companies

Traded in Other Exchanges

N/A

Address

2500 N America Drive, West Seneca, NY, USA, 14224

Website

https://www.worksport.com

Worksport Ltd through its subsidiaries, designs, develops, manufactures, and owns the IP on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), Hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. The company's product includes soft vinyl tonneau covers and hard aluminum tonneau covers.

Executives

Steven F. Rossi	10 percent owner	1895 CLEMENTS ROAD, PICKERING A6 M1P 4Y9
Ned L Siegel	director	600 WILSHIRE BOULEVARD, LOS ANGELES CA 90017
William J Caragol	director	1690 SOUTH CONGRESS AVENUE, SUITE 200, DELRAY BEACH FL 33445
Craig William Loverock	director	48 UNION AVE, PORT PERRY A6 L9L 1G2
Michael D Johnston	officer: Chief Financial Officer	340 RICHMOND STREET WEST, TORONTO Z4 MSV 1X2
Lorenzo Rossi	director, officer: Treasurer	1895 CLEMENTS ROAD, SUITE 155, PICKERING A6 M1P 4Y9
Steven Raivio	director, officer: COO, Secretary	8820 JANE STREET, VAUGHAN A6 L4K 2M9
Truxmart Ltd.	10 percent owner	1895 CLEMENTS ROAD, PICKERING A6 MIP 4Y9
Mathis Family Partners Ltd.	10 percent owner	2560 W. MAIN STREET, SUITE 200, LITTLETON CO 80120
Lazzeri Family Trust, Robert Lazzeri, Trustee	10 percent owner	5046 CHRISTENSEN DRIVE, LITTLETON CO 80123
Earnco M.p.p.p.	10 percent owner	2560 W MAIN ST, STE 200, LITTLETON CO 80120
Lazzeri Equity Partners 401k Plan	10 percent owner	2560 W MAIN STREET, SUITE 200, LITTLETON CO 80120
A. J. Boisdrenghien	director, 10 percent owner, officer: President	5910 SOUTH UNIVERSITY BOULEVARD, C-18, UNIT 165, LITTLETON CO 80121-2800