Empire Energy Group (Empire Energy Group) Inventory Turnover : 50.82 (As of Dec. 2023)

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What is Empire Energy Group 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. Empire Energy Group's Cost of Goods Sold for the six months ended in Dec. 2023 was $1.93 Mil. Empire Energy Group's Average Total Inventories for the quarter that ended in Dec. 2023 was $0.04 Mil. Empire Energy Group's Inventory Turnover for the quarter that ended in Dec. 2023 was 50.82.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Empire Energy Group's Days Inventory for the six months ended in Dec. 2023 was 3.59.

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. Empire Energy Group's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.02.

Empire Energy Group Inventory Turnover Historical Data

The historical data trend for Empire Energy Group'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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Empire Energy Group Inventory Turnover Chart

Empire Energy Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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12.28

125.87

115.52

104.47

111.13

Empire Energy Group Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															63.61	53.55	52.31	42.48	50.82

Empire Energy Group Inventory Turnover Calculation

Empire Energy Group'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 )
=	3.945	/ (	(0.045	+	0.026)	/	2 )
=	3.945	/	0.0355
=	111.13

Empire Energy Group's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Jun. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	1.931	/ (	(0.05	+	0.026)	/	2 )
=	1.931	/	0.038
=	50.82

Empire Energy Group (OTCPK:EEGUF) 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.

Empire Energy Group's Days Inventory for the six months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	0.038	/	1.931	*	365 / 2
	=	3.59

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.

Empire Energy Group's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	0.038	/	1.909
	=	0.02

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.

Empire Energy Group Inventory Turnover Related Terms

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Empire Energy Group (Empire Energy Group) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Empire Energy Group Ltd (OTCPK:EEGUF) » Definitions » Inventory Turnover

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EEG:Australia

Address

6-10 O'Connell Street, Level 5, Sydney, NSW, AUS, 2000

Website

https://empireenergygroup.net

Empire Energy Group Ltd is an oil and gas exploration and production company focused on onshore long-life oil & gas fields, in the USA. The progression of exploration & appraisal work programs in its wholly-owned and operated exploration tenements & applications located in the high petroleum-prospective Northern Territory McArthur Basin (including the Beetaloo Sub-Basin). It sells oil and gas products to owners of domestic pipelines, utilities, and refiners located in Pennsylvania and New York. It operates in three segments- United States Operations, Northern Territory, and corporate. The majority is derived from United States operations segment, which includes all oil and gas operations located in the USA. Revenue is derived from the sale of oil and gas and the operation of wells.

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