Nova Eye Medical (Nova Eye Medical) Inventory Turnover : 0.30 (As of Dec. 2023)

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What is Nova Eye Medical 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. Nova Eye Medical's Cost of Goods Sold for the six months ended in Dec. 2023 was $0.81 Mil. Nova Eye Medical's Average Total Inventories for the quarter that ended in Dec. 2023 was $2.66 Mil. Nova Eye Medical's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.30.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Nova Eye Medical's Days Inventory for the six months ended in Dec. 2023 was 601.32.

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. Nova Eye Medical's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.39.

Nova Eye Medical Inventory Turnover Historical Data

The historical data trend for Nova Eye Medical'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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Nova Eye Medical Inventory Turnover Chart

Nova Eye Medical Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Inventory Turnover

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1.23

0.21

0.81

0.68

0.70

Nova Eye Medical 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															0.80	-0.10	0.56	0.17	0.30

Nova Eye Medical Inventory Turnover Calculation

Nova Eye Medical's Inventory Turnover for the fiscal year that ended in Jun. 2023 is calculated as

	Inventory Turnover (A: Jun. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Jun. 2023 )	/ (	(Total Inventories (A: Jun. 2022 )	+	Total Inventories (A: Jun. 2023 ))	/	count )
=	1.766	/ (	(2.488	+	2.554)	/	2 )
=	1.766	/	2.521
=	0.70

Nova Eye Medical'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 )
=	0.807	/ (	(2.554	+	2.764)	/	2 )
=	0.807	/	2.659
=	0.30

Nova Eye Medical (OTCPK:ELXMF) 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.

Nova Eye Medical'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
	=	2.659	/	0.807	*	365 / 2
	=	601.32

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.

Nova Eye Medical'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 )
	=	2.659	/	6.786
	=	0.39

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.

Nova Eye Medical Inventory Turnover Related Terms

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Nova Eye Medical (Nova Eye Medical) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Nova Eye Medical Ltd (OTCPK:ELXMF) » Definitions » Inventory Turnover

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EYE:Australia

Address

107 Rundle Street, Kent Town, Adelaide, SA, AUS, 5067

Website

https://www.nova-eye.com

Nova Eye Medical Ltd is a medical technology company that develops, manufactures and sells a portfolio of proprietary ophthalmic treatment technologies and devices. Used by eye surgeons globally, these technologies include iTrack minimally invasive glaucoma surgery (MIGS), a consumable surgical device that restores the eye's natural outflow pathway to lower pressure inside the eye and to eliminate patient reliance on anti-glaucoma medications for mild-moderate glaucoma. The company's operating segment include AlphaRET and Glaucoma Surgical Devices, it generates maximum revenue from Glaucoma Surgical Devices. Geographically, it derives a majority of revenue from the United States of America.

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