Corning Natural Gas Holding (Corning Natural Gas Holding) Inventory Turnover : 1.27 (As of Mar. 2022)

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What is Corning Natural Gas Holding 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. Corning Natural Gas Holding's Cost of Goods Sold for the three months ended in Mar. 2022 was $6.85 Mil. Corning Natural Gas Holding's Average Total Inventories for the quarter that ended in Mar. 2022 was $5.40 Mil. Corning Natural Gas Holding's Inventory Turnover for the quarter that ended in Mar. 2022 was 1.27.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Corning Natural Gas Holding's Days Inventory for the three months ended in Mar. 2022 was 71.98.

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. Corning Natural Gas Holding's Inventory-to-Revenue for the quarter that ended in Mar. 2022 was 0.32.

Corning Natural Gas Holding Inventory Turnover Historical Data

The historical data trend for Corning Natural Gas Holding'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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Corning Natural Gas Holding Inventory Turnover Chart

Corning Natural Gas Holding Annual Data

Trend

Sep12

Sep13

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Inventory Turnover

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3.13

3.15

2.84

1.75

2.04

Corning Natural Gas Holding Quarterly Data
	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22
Inventory Turnover	Get a 7-Day Free Trial															0.95	0.46	0.34	0.71	1.27

Corning Natural Gas Holding Inventory Turnover Calculation

Corning Natural Gas Holding's Inventory Turnover for the fiscal year that ended in Sep. 2021 is calculated as

	Inventory Turnover (A: Sep. 2021 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Sep. 2021 )	/ (	(Total Inventories (A: Sep. 2020 )	+	Total Inventories (A: Sep. 2021 ))	/	count )
=	9.317	/ (	(4.152	+	4.972)	/	2 )
=	9.317	/	4.562
=	2.04

Corning Natural Gas Holding's Inventory Turnover for the quarter that ended in Mar. 2022 is calculated as

	Inventory Turnover (Q: Mar. 2022 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Mar. 2022 )	/ (	(Total Inventories (Q: Dec. 2021 )	+	Total Inventories (Q: Mar. 2022 ))	/	count )
=	6.848	/ (	(5.286	+	5.518)	/	2 )
=	6.848	/	5.402
=	1.27

Corning Natural Gas Holding (OTCPK:CNIGO.PFD) 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.

Corning Natural Gas Holding's Days Inventory for the three months ended in Mar. 2022 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2022 )	/	Cost of Goods Sold (Q: Mar. 2022 )	*	Days in Period
	=	5.402	/	6.848	*	365 / 4
	=	71.98

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.

Corning Natural Gas Holding's Inventory to Revenue for the quarter that ended in Mar. 2022 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2022 )	/	Revenue (Q: Mar. 2022 )
	=	5.402	/	16.965
	=	0.32

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.

Corning Natural Gas Holding Inventory Turnover Related Terms

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Corning Natural Gas Holding (Corning Natural Gas Holding) Business Description

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GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Corning Natural Gas Holding Corp (OTCPK:CNIGO.PFD) » Definitions » Inventory Turnover

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Address

330 West William Street, Corning, NY, USA, 14830

Website

http://www.corninggas.com

Corning Natural Gas Holding Corp, through its subsidiaries, is engaged in natural gas and electric distribution. Its segments include Gas Company, Pike, Leatherstocking companies, and Holding company. The company serves residential, commercial, industrial, and municipal customers. The company generates the vast majority of its revenue from Gas distribution.