Nikola (MEX:NKLA) Inventory Turnover: 0.85 (As of Dec. 2024)

What is Nikola Inventory Turnover?

Nikola MEX:NKLA 12 Inventory Turnover is 0.85 as of Dec. 2024. GuruFocus rates MEX:NKLA with a GF Score™ of 12/100.

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. Nikola's Cost of Goods Sold for the three months ended in Dec. 2024 was MXN1,273 Mil. Nikola's Average Total Inventories for the quarter that ended in Dec. 2024 was MXN1,498 Mil. Nikola's Inventory Turnover for the quarter that ended in Dec. 2024 was 0.85.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Nikola's Days Inventory for the three months ended in Dec. 2024 was 107.38.

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. Nikola's Inventory-to-Revenue for the quarter that ended in Dec. 2024 was 14.77.

Nikola (MEX:NKLA) 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.

Nikola's Days Inventory for the three months ended in Dec. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2024 )	/	Cost of Goods Sold (Q: Dec. 2024 )	*	Days in Period
	=	1498.189	/	1273.178	*	365 / 4
	=	107.38

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.

Nikola's Inventory to Revenue for the quarter that ended in Dec. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2024 )	/	Revenue (Q: Dec. 2024 )
	=	1498.189	/	101.463
	=	14.77

* 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.

Nikola Inventory Turnover Related Terms

Nikola Inventory Turnover Historical Data

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

Nikola Inventory Turnover Chart

Nikola Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Inventory Turnover

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0.00

2.19

2.62

4.87

Nikola Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Inventory Turnover	Get a 7-Day Free Trial															0.82	1.04	1.46	1.30	0.85

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Nikola Corp MEX:NKLA

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

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Nikola Inventory Turnover Calculation

Nikola's Inventory Turnover for the fiscal year that ended in Dec. 2024 is calculated as

	Inventory Turnover (A: Dec. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2024 )	/ (	(Total Inventories (A: Dec. 2023 )	+	Total Inventories (A: Dec. 2024 ))	/	count )
=	6241.861	/ (	(1062.384	+	1498.419)	/	2 )
=	6241.861	/	1280.4015
=	4.87

Nikola's Inventory Turnover for the quarter that ended in Dec. 2024 is calculated as

	Inventory Turnover (Q: Dec. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2024 )	/ (	(Total Inventories (Q: Sep. 2024 )	+	Total Inventories (Q: Dec. 2024 ))	/	count )
=	1273.178	/ (	(1497.959	+	1498.419)	/	2 )
=	1273.178	/	1498.189
=	0.85

Frequently Asked Questions Learn more about Inventory Turnover →

What does a Inventory Turnover of 0.85 mean?

Nikola (MEX:NKLA) has a Inventory Turnover of 0.85 as of Dec. 2024. Inventory turnover equals current-period cost of goods sold divided by average two-period total inventories. View historical data on Nikola and its competitors.

Is Nikola's Inventory Turnover too high?

Nikola's current Inventory Turnover is 0.85. Overall, Nikola has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.

How does Nikola's Inventory Turnover compare to NMHI and GP?

Nikola's Inventory Turnover of 0.85 can be compared against companies in the Farm & Heavy Construction Machinery 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 Farm & Heavy Construction Machinery company?

A good Inventory Turnover depends on the Farm & Heavy Construction Machinery 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 Nikola and its competitors. Nikola's current Inventory Turnover is 0.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Nikola stock overvalued right now?

Nikola (MEX:NKLA) has a current Inventory Turnover of 0.85. The current Inventory Turnover is 0.85. Nikola's overall GF Score™ is 12/100. 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 Nikola (MEX:NKLA), the current Inventory Turnover is 0.85 as of Dec. 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.

Nikola Business Description

Industry Industrials Farm & Heavy Construction Machinery

Comparable Companies NMHI GP CAT DE OSTO:VOLV A PCAR TSE:6201 XTER:DTG TSE:6301 SHSE:600031 OSTO:EPI A SZSE:000425 XAMS:EXO TSE:6326 OHEL:METSO CNH BOM:500477 SHSE:600066 XTER:KGX SZSE:000157

Address P.O. Box 27028, Tempe, AZ, USA, 85285

Website https://www.nikolamotor.com

Nikola Corp is a technology innovator and integrator, working to develop inventive energy and transportation solutions. It works on a business model that enables customers and fleets to integrate next-generation truck technology, hydrogen fueling and charging infrastructure, and related maintenance. It operates in two business units: Truck and Energy. The Truck business unit is engaged in manufacturing and selling FCEV and BEV trucks that provide environmentally friendly, cost-effective solutions to the trucking sector. The Energy business unit is engaged in developing and constructing a network of hydrogen fueling stations to meet the hydrogen fuel demand for the company's customers, as well as other third-party customers.

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