Quality Industrial (Quality Industrial) Inventory Turnover : 0.31 (As of Jun. 2023)

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What is Quality Industrial 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. Quality Industrial's Cost of Goods Sold for the three months ended in Jun. 2023 was $13.66 Mil. Quality Industrial's Average Total Inventories for the quarter that ended in Jun. 2023 was $43.67 Mil. Quality Industrial's Inventory Turnover for the quarter that ended in Jun. 2023 was 0.31.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Quality Industrial's Days Inventory for the three months ended in Jun. 2023 was 291.66.

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. Quality Industrial's Inventory-to-Revenue for the quarter that ended in Jun. 2023 was 2.02.

Quality Industrial Inventory Turnover Historical Data

The historical data trend for Quality Industrial'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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Quality Industrial Inventory Turnover Chart

Quality Industrial Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Inventory Turnover

0.75

Quality Industrial Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Inventory Turnover	Get a 7-Day Free Trial										-	-	0.32	0.24	0.31

Quality Industrial Inventory Turnover Calculation

Quality Industrial's Inventory Turnover for the fiscal year that ended in Dec. 2022 is calculated as

	Inventory Turnover (A: Dec. 2022 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2022 )	/ (	(Total Inventories (A: Dec. 2021 )	+	Total Inventories (A: Dec. 2022 ))	/	count )
=	43.932	/ (	(0	+	58.636)	/	1 )
=	43.932	/	58.636
=	0.75

Quality Industrial's Inventory Turnover for the quarter that ended in Jun. 2023 is calculated as

	Inventory Turnover (Q: Jun. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Jun. 2023 )	/ (	(Total Inventories (Q: Mar. 2023 )	+	Total Inventories (Q: Jun. 2023 ))	/	count )
=	13.662	/ (	(45.825	+	41.511)	/	2 )
=	13.662	/	43.668
=	0.31

Quality Industrial (OTCPK:QIND) 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.

Quality Industrial's Days Inventory for the three months ended in Jun. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2023 )	/	Cost of Goods Sold (Q: Jun. 2023 )	*	Days in Period
	=	43.668	/	13.662	*	365 / 4
	=	291.66

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.

Quality Industrial's Inventory to Revenue for the quarter that ended in Jun. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2023 )	/	Revenue (Q: Jun. 2023 )
	=	43.668	/	21.602
	=	2.02

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.

Quality Industrial Inventory Turnover Related Terms

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Quality Industrial (Quality Industrial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Quality Industrial Corp (OTCPK:QIND) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

315 Montgomery Street, San Francisco, CA, USA, 94104

Website

https://www.qualityindustrialcorp.com

Quality Industrial Corp is engaged in the manufacture and assembly of industrial equipment and precision engineered technology for the Industrial, Oil & Gas, and Utility sectors.

Executives

Terje Aarbogh	10 percent owner	315 MONTGOMERY STREET, SAN FRANCISCO CA 94104
John-paul Backwell	officer: Chief Executive Officer	26 BROADWAY, SUITE 934, NEW YORK NY 10004
Louise Bennett	officer: Chief Operations Officer	26 BROADWAY, SUITE 934, NEW YORK NY 10004
Nicolas Link	director, 10 percent owner	26 BROADWAY, SUITE 934, NEW YORK NY 10004
Krishnan Krishnamoorthy	officer: Chief Financial Officer	26 BROADWAY, SUITE 934, NEW YORK NY 10004
Paul Quintal	director	315 MONTGOMERY STREET, SAN FRANCISCO CA 94104
Rasmus Refer	10 percent owner	315 MONTGOMERY STREET, SAN FRANCISCO CA 94104
Carsten Falk	officer: CEO	315 MONTGOMERY STREET, SAN FRANCISCO CA 94104