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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.

* Premium members only.

Corteva Inventory Turnover Chart

Corteva Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Inventory Turnover
Get a 7-Day Free Trial 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 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 0.28 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

* 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.


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

* 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.


Corteva Inventory Turnover Related Terms

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Corteva Business Description

Address
974 Centre Road, Wilmington, DE, USA, 19805
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