Spar Group (JSE:SPP) Inventory Turnover: 13.02 (As of Mar. 2026)

What is Spar Group Inventory Turnover?

Spar Group JSE:SPP -4.02% 52 Inventory Turnover is 13.02 as of Mar. 2026. GuruFocus rates JSE:SPP with a GF Score™ of 52/100 and a GF Value™ of R107.98 (Significantly Undervalued). The stock has 3 warning signs investors should review.

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. Spar Group's Cost of Goods Sold for the six months ended in Mar. 2026 was R60,371 Mil. Spar Group's Average Total Inventories for the quarter that ended in Mar. 2026 was R4,635 Mil. Spar Group's Inventory Turnover for the quarter that ended in Mar. 2026 was 13.02.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Spar Group's Days Inventory for the six months ended in Mar. 2026 was 14.01.

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. Spar Group's Inventory-to-Revenue for the quarter that ended in Mar. 2026 was 0.07.

Spar Group (JSE:SPP) 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.

Spar Group's Days Inventory for the six months ended in Mar. 2026 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2026 )	/	Cost of Goods Sold (Q: Mar. 2026 )	*	Days in Period
	=	4635.15	/	60370.8	*	365 / 2
	=	14.01

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.

Spar Group's Inventory to Revenue for the quarter that ended in Mar. 2026 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	4635.15	/	67482.5
	=	0.07

* 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.

Spar Group Inventory Turnover Related Terms

Spar Group Inventory Turnover Historical Data

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The historical data trend for Spar Group's Inventory Turnover can be seen below:

Spar Group Inventory Turnover Chart

Spar Group Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

Inventory Turnover

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21.08

20.12

19.39

17.85

21.30

Spar Group Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Inventory Turnover	Get a 7-Day Free Trial															8.91	8.91	10.48	12.60	13.02

52GF Score

Spar Group Ltd JSE:SPP

Inventory Turnover is just one metric. See GF Score™, valuation, warning signs, and more.

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Spar Group Inventory Turnover Calculation

Spar Group's Inventory Turnover for the fiscal year that ended in Sep. 2025 is calculated as

	Inventory Turnover (A: Sep. 2025 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Sep. 2025 )	/ (	(Total Inventories (A: Sep. 2024 )	+	Total Inventories (A: Sep. 2025 ))	/	count )
=	117312.9	/ (	(6364.3	+	4653.1)	/	2 )
=	117312.9	/	5508.7
=	21.30

Spar Group's Inventory Turnover for the quarter that ended in Mar. 2026 is calculated as

	Inventory Turnover (Q: Mar. 2026 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Mar. 2026 )	/ (	(Total Inventories (Q: Sep. 2025 )	+	Total Inventories (Q: Mar. 2026 ))	/	count )
=	60370.8	/ (	(4653.1	+	4617.2)	/	2 )
=	60370.8	/	4635.15
=	13.02

Frequently Asked Questions Learn more about Inventory Turnover →

What does a Inventory Turnover of 13.02 mean?

Spar Group (JSE:SPP) has a Inventory Turnover of 13.02 as of Mar. 2026. Inventory turnover equals current-period cost of goods sold divided by average two-period total inventories. View historical data on Spar Group and its competitors.

Is Spar Group's Inventory Turnover too high?

Spar Group's current Inventory Turnover is 13.02. Overall, Spar Group has a GF Score™ of 52/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Spar Group's Inventory Turnover compare to SYY and USFD?

Spar Group's Inventory Turnover of 13.02 can be compared against companies in the Retail - Defensive 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 Retail - Defensive company?

A good Inventory Turnover depends on the Retail - Defensive 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 Spar Group and its competitors. Spar Group's current Inventory Turnover is 13.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Spar Group stock overvalued right now?

Based on GuruFocus' analysis, Spar Group (JSE:SPP) is currently considered Significantly Undervalued. The stock's GF Value™ is R107.98, compared to a current price of R47.51 — trading 56% below its estimated fair value. The current Inventory Turnover is 13.02. Spar Group's overall GF Score™ is 52/100 with 3 warning signs to review. 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 Spar Group (JSE:SPP), the current Inventory Turnover is 13.02 as of Mar. 2026. 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.

Is Spar Group (JSE:SPP) Overvalued in 2026?

Based on GuruFocus' analysis, Spar Group stock appears to be undervalued. The current stock price of R47.51 is trading 56% below its estimated GF Value™ of R107.98. GuruFocus considers Spar Group to be Significantly Undervalued.

Key valuation signals for JSE:SPP:

Inventory Turnover: 13.02
GF Value™: R107.98 vs. price of R47.51 (56% below fair value)
GF Score™: 52/100 with 3 warning signs

No single metric tells the full story. See the JSE:SPP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Spar Group Business Description

Industry Consumer Defensive Retail - Defensive

Comparable Companies JSE:FBR SYY USFD PFGC XLIS:JMT LSE:BNZL JSE:BID HKSE:01768 BKK:CPAXT CHEF SGX:VC2 HAM:B4B UNFI ANDE ASX:MTS SZSE:002515 SHSE:600113 SZSE:000061 WAR:KER XKRX:005440

Other Exchanges SGPPY:USA

Address 1 Ncondo Place, The Umhlanga Arch, Umhlanga Ridge, Durban, NL, ZAF, 4001

Website https://www.thespargroup.com

Spar Group Ltd operates as a wholesaler and distributor of goods and services to SPAR grocery stores and multiple other branded group retail outlets across multiple regions. It supplies fresh produce and merchandise to a network of independent retailers who operate under its brands like TOPS at SPAR, Build it, SPAR Health, and Encore. The company's revenue mainly comprise the revenue from the sale of merchandise, marketing and promotional activities as well as franchise fees. Geographically, it has a presence in Southern Africa, Ireland and South West England, Switzerland, Poland and Sri Lanka, with the majority of revenue generated from South Africa.

52GF Score

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

R47.51

Price

R107.98

GF Value

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