Canoo (GOEV) Inventory Turnover: 0.02 (As of Sep. 2024)


GOEV Canoo Inc GOEV
23 GF Score
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What is Canoo Inventory Turnover?

Canoo GOEV 23 Inventory Turnover is 0.02 as of Sep. 2024. GuruFocus rates GOEV with a GF Score™ of 23/100.

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. Canoo's Cost of Goods Sold for the three months ended in Sep. 2024 was $0.17 Mil. Canoo's Average Total Inventories for the quarter that ended in Sep. 2024 was $9.61 Mil. Canoo's Inventory Turnover for the quarter that ended in Sep. 2024 was 0.02.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Canoo's Days Inventory for the three months ended in Sep. 2024 was 5,156.97.

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. Canoo's Inventory-to-Revenue for the quarter that ended in Sep. 2024 was 10.78.

Canoo  (OTCPK:GOEV) 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.

Canoo'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
=9.6075/0.17*365 / 4
=5,156.97

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.

Canoo'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 )
=9.6075 / 0.891
=10.78

* 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.

Canoo Inventory Turnover Related Terms

Canoo Inventory Turnover Historical Data

* Premium members only.

The historical data trend for Canoo'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.

Canoo Inventory Turnover Chart

Canoo Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Inventory Turnover
0.00 0.00 0.00 0.00 0.52

Canoo 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 0.16 0.25 0.00 0.23 0.02
GOEV
23GF Score
Canoo Inc GOEV
Inventory Turnover is just one metric. See GF Score™, valuation, warning signs, and more.
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Canoo Inventory Turnover Calculation

Canoo'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 )
=2.374 / ((2.954 + 6.153) / 2 )
=2.374 / 4.5535
=0.52

Canoo'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 )
=0.17 / ((9.302 + 9.913) / 2 )
=0.17 / 9.6075
=0.02

* 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.

Frequently Asked Questions Learn more about Inventory Turnover →
What does a Inventory Turnover of 0.02 mean?
Canoo (GOEV) has a Inventory Turnover of 0.02 as of Sep. 2024. Inventory turnover equals current-period cost of goods sold divided by average two-period total inventories. View historical data on Canoo and its competitors.
Is Canoo's Inventory Turnover too high?
Canoo's current Inventory Turnover is 0.02. Overall, Canoo has a GF Score™ of 23/100, reflecting its overall financial health beyond just this single metric.
How does Canoo's Inventory Turnover compare to DMN and EVTV?
Canoo's Inventory Turnover of 0.02 can be compared against companies in the Vehicles & Parts industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Inventory Turnover for a Vehicles & Parts company?
A good Inventory Turnover depends on the Vehicles & Parts industry context. However, Inventory Turnover should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Inventory Turnover mean?
A high Inventory Turnover can signal that a stock is expensive relative to its fundamentals. Inventory turnover equals current-period cost of goods sold divided by average two-period total inventories. View historical data on Canoo and its competitors. Canoo's current Inventory Turnover is 0.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Canoo stock overvalued right now?
Canoo (GOEV) has a current Inventory Turnover of 0.02. The current Inventory Turnover is 0.02. Canoo's overall GF Score™ is 23/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Inventory Turnover calculated?
Inventory Turnover is calculated from a company's financial statements. For Canoo (GOEV), the current Inventory Turnover is 0.02 as of Sep. 2024. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Canoo Business Description

Address 19951 Mariner Avenue, Torrance, CA, USA, 90503
Canoo Inc is a mobility technology company providing with a proprietary modular electric vehicle platform and connected services initially focused on commercial fleet, government and military customers. The Company has developed a breakthrough EV platform that it believes will enable it to rapidly iterate and bring new products, addressing multiple use cases, to market faster than competition and at lower cost.
23GF Score

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Inventory Turnover is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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