First Milling Co (SAU:2283) Inventory Turnover : 0.98 (As of Jun. 2024)

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What is First Milling Co 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. First Milling Co's Cost of Goods Sold for the three months ended in Jun. 2024 was ﷼142 Mil. First Milling Co's Average Total Inventories for the quarter that ended in Jun. 2024 was ﷼146 Mil. First Milling Co's Inventory Turnover for the quarter that ended in Jun. 2024 was 0.98.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. First Milling Co's Days Inventory for the three months ended in Jun. 2024 was 93.55.

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. First Milling Co's Inventory-to-Revenue for the quarter that ended in Jun. 2024 was 0.60.

First Milling Co Inventory Turnover Historical Data

The historical data trend for First Milling Co'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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First Milling Co Inventory Turnover Chart

First Milling Co Annual Data

Trend

Dec21

Dec22

Dec23

Inventory Turnover

4.05

4.39

4.12

First Milling Co Quarterly Data
	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24
Inventory Turnover	Get a 7-Day Free Trial						0.96	1.27	1.13	1.02	0.98

First Milling Co Inventory Turnover Calculation

First Milling Co'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 )
=	551.117	/ (	(119.1	+	148.348)	/	2 )
=	551.117	/	133.724
=	4.12

First Milling Co's Inventory Turnover for the quarter that ended in Jun. 2024 is calculated as

	Inventory Turnover (Q: Jun. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Jun. 2024 )	/ (	(Total Inventories (Q: Mar. 2024 )	+	Total Inventories (Q: Jun. 2024 ))	/	count )
=	141.968	/ (	(146.529	+	144.571)	/	2 )
=	141.968	/	145.55
=	0.98

First Milling Co (SAU:2283) 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.

First Milling Co's Days Inventory for the three months ended in Jun. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2024 )	/	Cost of Goods Sold (Q: Jun. 2024 )	*	Days in Period
	=	145.55	/	141.968	*	365 / 4
	=	93.55

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.

First Milling Co's Inventory to Revenue for the quarter that ended in Jun. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2024 )	/	Revenue (Q: Jun. 2024 )
	=	145.55	/	242.348
	=	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.

First Milling Co Inventory Turnover Related Terms

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First Milling Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » First Milling Co (SAU:2283) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jeddah Islamic Port, between gates 7 and 8, PO Box: 16165, Jeddah, SAU, 22312

Website

https://www.firstmills.com

First Milling Co operates as a producer of flour-based products and byproducts. It is mainly engaged in producing flour, bran, wheat derivatives, and animal feed. The Company operates in four regions in the Kingdom of Saudi Arabia, which are its reportable segments.

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