CTVA (Corteva) Inventory Turnover : 0.30 (As of Sep. 2024)

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What is Corteva 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. Corteva's Cost of Goods Sold for the three months ended in Sep. 2024 was $1,565 Mil. Corteva's Average Total Inventories for the quarter that ended in Sep. 2024 was $5,284 Mil. Corteva's Inventory Turnover for the quarter that ended in Sep. 2024 was 0.30.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Corteva's Days Inventory for the three months ended in Sep. 2024 was 308.06.

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. Corteva's Inventory-to-Revenue for the quarter that ended in Sep. 2024 was 2.27.

Corteva Inventory Turnover Historical Data

The historical data trend for Corteva'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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Corteva Inventory Turnover Chart

Corteva Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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1.66

1.72

1.83

1.74

1.45

Corteva Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Inventory Turnover	Get a 7-Day Free Trial															0.28	0.36	0.39	0.53	0.30

Corteva Inventory Turnover Calculation

Corteva's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	9920	/ (	(6811	+	6899)	/	2 )
=	9920	/	6855
=	1.45

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

	Inventory Turnover (Q: Sep. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Sep. 2024 )	/ (	(Total Inventories (Q: Jun. 2024 )	+	Total Inventories (Q: Sep. 2024 ))	/	count )
=	1565	/ (	(4893	+	5674)	/	2 )
=	1565	/	5283.5
=	0.30

Corteva (NYSE:CTVA) 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.

Corteva'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
	=	5283.5	/	1565	*	365 / 4
	=	308.06

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.

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

Inventory-to-Revenue	=	Average Total Inventories (Q: Sep. 2024 )	/	Revenue (Q: Sep. 2024 )
	=	5283.5	/	2326
	=	2.27

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.

Corteva Inventory Turnover Related Terms

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Corteva Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Agriculture » Corteva Inc (NYSE:CTVA) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

CTVA:Mexico 2X0:Germany C1TV34:Brazil CTVA:Austria

Address

974 Centre Road, Wilmington, DE, USA, 19805

Website

https://www.corteva.com

Corteva is an agricultural inputs pure play that was formed in 2019 when it was spun off from DowDuPont. The company is a leader in the development of new seed and crop protection products. Seeds generate the majority of profits with the remainder coming from crop protection products. Corteva operates globally, but around half of revenue comes from North America.

Executives

Fuerer Cornel B	director, officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Samuel R Eathington	officer: SVP, Chief Technology Officer	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Brian Titus	officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Robert D. King	officer: EVP, Crop Protection Business	C/O CORTEVA, INC., 9330 ZIONSVILLE ROAD, INDIANAPOLIS IN 46268
Timothy P Glenn	officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
David J Anderson	officer: EVP, Chief Financial Officer	C/O HONEYWELL INTERNATIONAL INC, 101 COLUMBIA ROAD, MORRISTOWN NJ 09762
Charles V. Magro	director, officer: CEO	C/O CORTEVA, INC., 974 CENTRE ROAD, CRP 735, WILMINGTON DE 19805
Audrey Grimm	officer: See Remarks	C/O CORTEVA, INC., 9330 ZIONSVILLE ROAD, INDIANAPOLIS IN 46268
Klaus A Engel	director	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Meghan Cassidy	officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Rajan Gajaria	officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Janet Plaut Giesselman	director	25435 HARVARD RD., BEACHWOOD OH 44122
Kerry J Preete	director	800 NORTH LINDBERGH BLVD., ST. LOUIS MO 63167
David C Everitt	director	DEERE & COMPANY, ONE JOHN DEERE PLACE, MOLINE IL 61265
Karen H. Grimes	director	TOLL BROTHERS, INC., 1140 VIRGINIA DRIVE, FORT WASHINGTON PA 19034