NVOS (Novo Integrated Sciences) Inventory Turnover: 2.19 (As of May. 2024)


NVOS Novo Integrated Sciences Inc NVOS
12 GF Score
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What is Novo Integrated Sciences Inventory Turnover?

Novo Integrated Sciences NVOS 12 Inventory Turnover is 2.19 as of May. 2024. GuruFocus rates NVOS 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. Novo Integrated Sciences's Cost of Goods Sold for the three months ended in May. 2024 was $2.26 Mil. Novo Integrated Sciences's Average Total Inventories for the quarter that ended in May. 2024 was $1.03 Mil. Novo Integrated Sciences's Inventory Turnover for the quarter that ended in May. 2024 was 2.19.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Novo Integrated Sciences's Days Inventory for the three months ended in May. 2024 was 41.66.

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. Novo Integrated Sciences's Inventory-to-Revenue for the quarter that ended in May. 2024 was 0.33.

Novo Integrated Sciences  (OTCPK:NVOS) 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.

Novo Integrated Sciences's Days Inventory for the three months ended in May. 2024 is calculated as:

Days Inventory =Average Total Inventories (Q: May. 2024 )/Cost of Goods Sold (Q: May. 2024 )*Days in Period
=1.0295/2.255*365 / 4
=41.66

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.

Novo Integrated Sciences's Inventory to Revenue for the quarter that ended in May. 2024 is calculated as

Inventory-to-Revenue=Average Total Inventories (Q: May. 2024 ) / Revenue (Q: May. 2024 )
=1.0295 / 3.152
=0.33

* 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.

Novo Integrated Sciences Inventory Turnover Related Terms

Novo Integrated Sciences Inventory Turnover Historical Data

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The historical data trend for Novo Integrated Sciences'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.

Novo Integrated Sciences Inventory Turnover Chart

Novo Integrated Sciences Annual Data
Trend Dec14 Dec15 Dec16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23
Inventory Turnover
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 16.17 11.39 7.67

Novo Integrated Sciences Quarterly Data
Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24
Inventory Turnover Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.12 2.32 1.64 1.67 2.19
NVOS
12GF Score
Novo Integrated Sciences Inc NVOS
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Novo Integrated Sciences Inventory Turnover Calculation

Novo Integrated Sciences'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 )
=7.619 / ((0.879 + 1.107) / 2 )
=7.619 / 0.993
=7.67

Novo Integrated Sciences's Inventory Turnover for the quarter that ended in May. 2024 is calculated as

Inventory Turnover (Q: May. 2024 )
=Cost of Goods Sold / Average Total Inventories
=Cost of Goods Sold (Q: May. 2024 ) / ((Total Inventories (Q: Feb. 2024 ) + Total Inventories (Q: May. 2024 )) / count )
=2.255 / ((0.947 + 1.112) / 2 )
=2.255 / 1.0295
=2.19

* 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.

Frequently Asked Questions Learn more about Inventory Turnover →
What does a Inventory Turnover of 2.19 mean?
Novo Integrated Sciences (NVOS) has a Inventory Turnover of 2.19 as of May. 2024. Inventory turnover equals current-period cost of goods sold divided by average two-period total inventories. View historical data on Novo Integrated Sciences and its competitors.
Is Novo Integrated Sciences' Inventory Turnover too high?
Novo Integrated Sciences' current Inventory Turnover is 2.19. Overall, Novo Integrated Sciences has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Novo Integrated Sciences' Inventory Turnover compare to BACK and NHLG?
Novo Integrated Sciences' Inventory Turnover of 2.19 can be compared against companies in the Healthcare Providers & Services 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 Healthcare Providers & Services company?
A good Inventory Turnover depends on the Healthcare Providers & Services 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 Novo Integrated Sciences and its competitors. Novo Integrated Sciences's current Inventory Turnover is 2.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Novo Integrated Sciences stock overvalued right now?
Novo Integrated Sciences (NVOS) has a current Inventory Turnover of 2.19. The current Inventory Turnover is 2.19. Novo Integrated Sciences' 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 Novo Integrated Sciences (NVOS), the current Inventory Turnover is 2.19 as of May. 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.

Novo Integrated Sciences Business Description

Address 11120 NE 2nd Street, Suite 100, Bellevue, WA, USA, 98004
Novo Integrated Sciences Inc is a medical care company. It provides specialized physiotherapy, chiropractic care, occupational therapy, eldercare, laser therapeutics, massage therapy, acupuncture, neurological functions, kinesiology, and others. It has two reportable segments: healthcare services and product sales. Healthcare services generate the majority of revenue.
12GF Score

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

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