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Goodfood Market (Goodfood Market) Inventory Turnover : 6.59 (As of Feb. 2024)


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What is Goodfood Market 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. Goodfood Market's Cost of Goods Sold for the three months ended in Feb. 2024 was $16.8 Mil. Goodfood Market's Average Total Inventories for the quarter that ended in Feb. 2024 was $2.5 Mil. Goodfood Market's Inventory Turnover for the quarter that ended in Feb. 2024 was 6.59.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Goodfood Market's Days Inventory for the three months ended in Feb. 2024 was 13.85.

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. Goodfood Market's Inventory-to-Revenue for the quarter that ended in Feb. 2024 was 0.09.

Goodfood Market Inventory Turnover Historical Data

The historical data trend for Goodfood Market'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.

Goodfood Market Inventory Turnover Chart

Goodfood Market Annual Data
Trend Dec15 Dec16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23
Inventory Turnover
Get a 7-Day Free Trial Premium Member Only 38.13 34.06 25.12 18.60 19.72

Goodfood Market Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
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 5.73 6.62 6.75 7.24 6.59

Goodfood Market Inventory Turnover Calculation

Goodfood Market's Inventory Turnover for the fiscal year that ended in Aug. 2023 is calculated as

Inventory Turnover (A: Aug. 2023 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (A: Aug. 2023 ) / ((Total Inventories (A: Aug. 2022 ) + Total Inventories (A: Aug. 2023 )) / count )
=76.553 / ((5.329 + 2.434) / 2 )
=76.553 / 3.8815
=19.72

Goodfood Market's Inventory Turnover for the quarter that ended in Feb. 2024 is calculated as

Inventory Turnover (Q: Feb. 2024 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (Q: Feb. 2024 ) / ((Total Inventories (Q: Nov. 2023 ) + Total Inventories (Q: Feb. 2024 )) / count )
=16.775 / ((2.512 + 2.581) / 2 )
=16.775 / 2.5465
=6.59

* 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.

Goodfood Market  (OTCPK:GDDFF) 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.

Goodfood Market's Days Inventory for the three months ended in Feb. 2024 is calculated as:

Days Inventory =Average Total Inventories (Q: Feb. 2024 )/Cost of Goods Sold (Q: Feb. 2024 )*Days in Period
=2.5465/16.775*365 / 4
=13.85

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.

Goodfood Market's Inventory to Revenue for the quarter that ended in Feb. 2024 is calculated as

Inventory-to-Revenue=Average Total Inventories (Q: Feb. 2024 ) / Revenue (Q: Feb. 2024 )
=2.5465 / 29.448
=0.09

* 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.

Goodfood Market Inventory Turnover Related Terms

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Goodfood Market (Goodfood Market) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Personal Services » Goodfood Market Corp (OTCPK:GDDFF) » Definitions » Inventory Turnover
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Traded in Other Exchanges
76O:Germany FOOD:Canada
Address
4600 Hickmore Street, Saint-Laurent, Montreal, QC, CAN, H4T 1K2
Website
https://www.makegoodfood.ca
Goodfood Market Corp is an online grocery company in Canada delivering fresh meal solutions and groceries that make it easy for members to enjoy delicious meals at home every day. The principal business activity is focused on developing and servicing the online meal kit and grocery add-on market. Goodfood members have access to products and exclusive pricing made possible by its direct-to-consumer fulfilment ecosystem that eliminates waste and retail overhead. It has a production facility and administrative offices in Montreal, with five additional facilities located in Quebec, Ontario, Alberta, and British Columbia. The Company is passionate about connecting its partner farms and suppliers to its customers' kitchens while eliminating food waste and costly retail overhead.