Mingteng International (Mingteng International) Inventory Turnover : 2.20 (As of Dec. 2023)

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What is Mingteng International 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. Mingteng International's Cost of Goods Sold for the six months ended in Dec. 2023 was $2.76 Mil. Mingteng International's Average Total Inventories for the quarter that ended in Dec. 2023 was $1.25 Mil. Mingteng International's Inventory Turnover for the quarter that ended in Dec. 2023 was 2.20.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Mingteng International's Days Inventory for the six months ended in Dec. 2023 was 82.83.

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. Mingteng International's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.28.

Mingteng International Inventory Turnover Historical Data

The historical data trend for Mingteng International'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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Mingteng International Inventory Turnover Chart

Mingteng International Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

1.44

2.84

3.34

4.24

Mingteng International Semi-Annual Data
	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Inventory Turnover	Get a 7-Day Free Trial			1.68	1.77	1.87	1.76	2.20

Mingteng International Inventory Turnover Calculation

Mingteng International'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 )
=	4.834	/ (	(1.061	+	1.217)	/	2 )
=	4.834	/	1.139
=	4.24

Mingteng International's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Jun. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	2.762	/ (	(1.29	+	1.217)	/	2 )
=	2.762	/	1.2535
=	2.20

Mingteng International (NAS:MTEN) 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.

Mingteng International's Days Inventory for the six months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	1.2535	/	2.762	*	365 / 2
	=	82.83

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.

Mingteng International's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	1.2535	/	4.522
	=	0.28

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.

Mingteng International Inventory Turnover Related Terms

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Mingteng International (Mingteng International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Mingteng International Corp Inc (NAS:MTEN) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

Lvhua Village, Luoshe Town, Huishan District, Jiangsu Province, Wuxi, CHN, 214189

Website

Mingteng International Corp Inc operates as an automotive mold developer and supplier in China. It provides a wide range of products including casting molds for turbocharger systems, braking systems, steering and differential system, and other automotive system parts. Besides, it also produces molds for new energy electric vehicle motor drive systems, battery pack systems, and engineering hydraulic components, which are widely used in automobile, construction machinery, and other manufacturing industries.

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