Fortress Minerals (SGX:OAJ) Inventory Turnover : 1.54 (As of Aug. 2023)

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What is Fortress Minerals 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. Fortress Minerals's Cost of Goods Sold for the three months ended in Aug. 2023 was S$7.93 Mil. Fortress Minerals's Average Total Inventories for the quarter that ended in Aug. 2023 was S$5.14 Mil. Fortress Minerals's Inventory Turnover for the quarter that ended in Aug. 2023 was 1.54.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Fortress Minerals's Days Inventory for the three months ended in Aug. 2023 was 59.20.

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. Fortress Minerals's Inventory-to-Revenue for the quarter that ended in Aug. 2023 was 0.22.

Fortress Minerals Inventory Turnover Historical Data

The historical data trend for Fortress Minerals'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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Fortress Minerals Inventory Turnover Chart

Fortress Minerals Annual Data

Trend

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Feb24

Inventory Turnover

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13.38

11.63

4.85

4.05

5.33

Fortress Minerals Quarterly Data
	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Feb24
Inventory Turnover	Get a 7-Day Free Trial															1.03	0.80	1.11	1.54	-

Fortress Minerals Inventory Turnover Calculation

Fortress Minerals's Inventory Turnover for the fiscal year that ended in Feb. 2024 is calculated as

	Inventory Turnover (A: Feb. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Feb. 2024 )	/ (	(Total Inventories (A: Feb. 2023 )	+	Total Inventories (A: Feb. 2024 ))	/	count )
=	27.797	/ (	(6.223	+	4.216)	/	2 )
=	27.797	/	5.2195
=	5.33

Fortress Minerals's Inventory Turnover for the quarter that ended in Aug. 2023 is calculated as

	Inventory Turnover (Q: Aug. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Aug. 2023 )	/ (	(Total Inventories (Q: May. 2023 )	+	Total Inventories (Q: Aug. 2023 ))	/	count )
=	7.928	/ (	(5.799	+	4.488)	/	2 )
=	7.928	/	5.1435
=	1.54

Fortress Minerals (SGX:OAJ) 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.

Fortress Minerals's Days Inventory for the three months ended in Aug. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Aug. 2023 )	/	Cost of Goods Sold (Q: Aug. 2023 )	*	Days in Period
	=	5.1435	/	7.928	*	365 / 4
	=	59.20

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.

Fortress Minerals's Inventory to Revenue for the quarter that ended in Aug. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Aug. 2023 )	/	Revenue (Q: Aug. 2023 )
	=	5.1435	/	23.392
	=	0.22

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.

Fortress Minerals Inventory Turnover Related Terms

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Fortress Minerals (SGX:OAJ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Fortress Minerals Ltd (SGX:OAJ) » Definitions » Inventory Turnover

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Address

9-1, Jalan PJS 8/18, Dataran Mentari, Petaling Jaya, SGR, MYS, 46150

Website

https://www.fortress.sg

Fortress Minerals Ltd is an iron ore concentrate miner and exporter in Malaysia. The company engages in exploration, mining, production, and sale of iron ore with low level of impurities. It mines the iron ore from its East, Valley and West Deposits of Bukit Besi Mine situated in the district of Dungun, state of Terengganu in Malaysia. It derives revenue from sale of iron ore.

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