Northern Technologies International (Northern Technologies International) Inventory Turnover : 1.00 (As of Feb. 2024)

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What is Northern Technologies 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. Northern Technologies International's Cost of Goods Sold for the three months ended in Feb. 2024 was $12.50 Mil. Northern Technologies International's Average Total Inventories for the quarter that ended in Feb. 2024 was $12.57 Mil. Northern Technologies International's Inventory Turnover for the quarter that ended in Feb. 2024 was 1.00.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Northern Technologies International's Days Inventory for the three months ended in Feb. 2024 was 91.70.

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. Northern Technologies International's Inventory-to-Revenue for the quarter that ended in Feb. 2024 was 0.60.

Northern Technologies International Inventory Turnover Historical Data

The historical data trend for Northern Technologies 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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Northern Technologies International Inventory Turnover Chart

Northern Technologies International Annual Data

Trend

Aug14

Aug15

Aug16

Aug17

Aug18

Aug19

Aug20

Aug21

Aug22

Aug23

Inventory Turnover

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3.87

2.95

3.34

3.72

3.54

Northern Technologies International Quarterly Data
	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24
Inventory Turnover	Get a 7-Day Free Trial															0.79	0.92	0.97	1.00	1.00

Northern Technologies International Inventory Turnover Calculation

Northern Technologies International's Inventory Turnover for the fiscal year that ended in Aug. 2023 is calculated as

	Inventory Turnover (A: Aug. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Aug. 2023 )	/ (	(Total Inventories (A: Aug. 2022 )	+	Total Inventories (A: Aug. 2023 ))	/	count )
=	52.099	/ (	(16.342	+	13.096)	/	2 )
=	52.099	/	14.719
=	3.54

Northern Technologies International's Inventory Turnover for the quarter that ended in Feb. 2024 is calculated as

	Inventory Turnover (Q: Feb. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Feb. 2024 )	/ (	(Total Inventories (Q: Nov. 2023 )	+	Total Inventories (Q: Feb. 2024 ))	/	count )
=	12.504	/ (	(12.593	+	12.539)	/	2 )
=	12.504	/	12.566
=	1.00

Northern Technologies International (NAS:NTIC) 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.

Northern Technologies International's Days Inventory for the three months ended in Feb. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Feb. 2024 )	/	Cost of Goods Sold (Q: Feb. 2024 )	*	Days in Period
	=	12.566	/	12.504	*	365 / 4
	=	91.70

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.

Northern Technologies International's Inventory to Revenue for the quarter that ended in Feb. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Feb. 2024 )	/	Revenue (Q: Feb. 2024 )
	=	12.566	/	20.843
	=	0.60

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.

Northern Technologies International Inventory Turnover Related Terms

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Northern Technologies International (Northern Technologies International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Northern Technologies International Corp (NAS:NTIC) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

4201 Woodland Road, P.O. Box 69, Circle Pines, MN, USA, 55014

Website

https://www.ntic.com

Northern Technologies International Corp, or NTIC is a United States-based firm that develops and markets environmentally beneficial products and services world-wide either directly or through a network of joint ventures, distributors, and agents. It operates through two segments which include ZERUST products and services and Nature-Tec products. Its main business is providing corrosion prevention solutions that are marketed under the ZERUST brand. The company also sells a portfolio of bio-based and biodegradable (compostable) polymer resin compounds and finished products marketed under the Nature-Tec brand. The ZERUST brand generates a vast majority of the revenue for the company.

Executives

Nancy E. Calderon	director	1285 WAKEFIELD TRAIL, RENO NV 89523
Richard Nigon	director	CEDAR POINT CAPITAL, 150 SOUTH 5TH STREET, MINNEAPOLIS MN 55402
Sarah E. Kemp	director	4201 WOODLAND ROAD, PO BOX 69, CIRCLE PINES MN 55014
Pinho Cristina Lucia Duarte	director	4201 WOODLAND ROAD, PO BOX 69, CIRCLE PINES MN 55014
Falkenhausen Konstantin Von	director	4201 WOODLAND ROAD, PO BOX 69, CIRCLE PINES MN 55014
Barbara D. Colwell	director	4201 WOODLAND ROAD, CIRCLE PINES MN 55014
G Patrick Lynch	director	4201 WOODLAND ROAD, CIRCLE PINES MN 55014
Pierre Chenu	director	118B AVENUE W CHURCHILL, PO BOX 15, BRUSSELS C9 1180
Mark J Stone	director	689 5TH AVENUE, 14TH FLOOR, NEW YORK NY 10022
Inter Alia Holding Co	10 percent owner
Juliane I Lynch	10 percent owner	23205 MERCANTILE ROAD, BEACHWOOD OH 44122
Koh Soo Keong	director	4201 WOODLAND ROAD, POST OFFICE BOX 69, CIRCLE PINES MN 55014
Tilman Bernhard Frank	director	4201 WOODLAND ROAD, POST OFFICE BOX 69, CIRCLE PINES MN 55014
Sunggyu Lee	director	4912 MCKENNA CT, COLUMBIA MO 65203
Ramani Narayan	director	4275 CONIFER CIRCLE, OKEMOS MI 48864