Shandong Molong Petroleum Machinery Co (Shandong Molong Petroleum Machinery Co) Inventory Turnover : 0.59 (As of Dec. 2023)

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What is Shandong Molong Petroleum Machinery 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. Shandong Molong Petroleum Machinery Co's Cost of Goods Sold for the three months ended in Dec. 2023 was $40.1 Mil. Shandong Molong Petroleum Machinery Co's Average Total Inventories for the quarter that ended in Dec. 2023 was $67.6 Mil. Shandong Molong Petroleum Machinery Co's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.59.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Shandong Molong Petroleum Machinery Co's Days Inventory for the three months ended in Dec. 2023 was 153.81.

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. Shandong Molong Petroleum Machinery Co's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 1.53.

Shandong Molong Petroleum Machinery Co Inventory Turnover Historical Data

The historical data trend for Shandong Molong Petroleum Machinery 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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Shandong Molong Petroleum Machinery Co Inventory Turnover Chart

Shandong Molong Petroleum Machinery Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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4.04

3.50

4.74

3.68

2.13

Shandong Molong Petroleum Machinery Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Inventory Turnover	Get a 7-Day Free Trial															0.62	0.65	0.35	0.59	-

Shandong Molong Petroleum Machinery Co Inventory Turnover Calculation

Shandong Molong Petroleum Machinery 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 )
=	170.264	/ (	(96.134	+	63.707)	/	2 )
=	170.264	/	79.9205
=	2.13

Shandong Molong Petroleum Machinery Co's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	40.119	/ (	(71.545	+	63.707)	/	2 )
=	40.119	/	67.626
=	0.59

Shandong Molong Petroleum Machinery Co (OTCPK:SHANY) 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.

Shandong Molong Petroleum Machinery Co's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	67.626	/	40.119	*	365 / 4
	=	153.81

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.

Shandong Molong Petroleum Machinery Co's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	67.626	/	44.169
	=	1.53

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.

Shandong Molong Petroleum Machinery Co Inventory Turnover Related Terms

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Shandong Molong Petroleum Machinery Co (Shandong Molong Petroleum Machinery Co) Business Description

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SHANF:USA 00568:Hong Kong 002490:China

Address

No. 99 Xingshang Road, Gucheng Street, Shandong Province, Shouguang, CHN, 262700

Website

http://www.molonggroup.com

Shandong Molong Petroleum Machinery Co Ltd is mainly engaged in design, research and development, processing and manufacturing, sales service and export trade of products for the energy equipment industry. The main products included petroleum-drilling machinery equipment, petroleum and natural gas transportation equipment, petroleum and natural gas exploitation equipment, and major critical components and castings and forgings products. The company's products are mainly used in petroleum, natural gas, coalbed methane, shale gas and other energy drilling, machinery processing, and urban pipe network. The sales of pipe products accounted for over 80% of the company's revenue.

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