GOGL (Golden Ocean Group) Inventory Turnover : 4.05 (As of Sep. 2024)

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What is Golden Ocean 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. Golden Ocean Group's Cost of Goods Sold for the three months ended in Sep. 2024 was $166 Mil. Golden Ocean Group's Average Total Inventories for the quarter that ended in Sep. 2024 was $41 Mil. Golden Ocean Group's Inventory Turnover for the quarter that ended in Sep. 2024 was 4.05.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Golden Ocean Group's Days Inventory for the three months ended in Sep. 2024 was 22.54.

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. Golden Ocean Group's Inventory-to-Revenue for the quarter that ended in Sep. 2024 was 0.16.

Golden Ocean Group Inventory Turnover Historical Data

The historical data trend for Golden Ocean 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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Golden Ocean Group Inventory Turnover Chart

Golden Ocean Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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20.92

21.12

19.69

15.58

15.66

Golden Ocean Group 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															3.35	4.01	3.79	3.89	4.05

Golden Ocean Group Inventory Turnover Calculation

Golden Ocean 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 )
=	675.884	/ (	(45.434	+	40.887)	/	2 )
=	675.884	/	43.1605
=	15.66

Golden Ocean Group'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 )
=	165.683	/ (	(40.921	+	0)	/	1 )
=	165.683	/	40.921
=	4.05

Golden Ocean Group (NAS:GOGL) 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.

Golden Ocean Group'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
	=	40.921	/	165.683	*	365 / 4
	=	22.54

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.

Golden Ocean Group'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 )
	=	40.921	/	260.621
	=	0.16

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.

Golden Ocean Group Inventory Turnover Related Terms

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Golden Ocean Group Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Golden Ocean Group Ltd (NAS:GOGL) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

GOGLo:Sweden GOGL:Norway GOGLo:UK 0RII:UK KT31:Germany KT31:Germany

Address

14 Par-la-Ville Road, Par-la-Ville Place, Hamilton, BMU, HM 08

Website

https://www.goldenocean.bm

Golden Ocean Group Ltd is a Bermuda-based dry bulk shipping company. Its business involves the transportation of dry bulk cargo including ores, coal, grains and fertilizers through its fleet of owned and chartered vessels, bareboat vessels, commercial management vessels and new buildings are chartered-out on fixed rate time charters and index-linked time charter contracts.