Sinopec Oilfield Service (SHSE:600871) Inventory Turnover : 10.75 (As of Mar. 2024)

View and export this data going back to 1995. Start your Free Trial

What is Sinopec Oilfield Service 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. Sinopec Oilfield Service's Cost of Goods Sold for the three months ended in Mar. 2024 was ¥17,066 Mil. Sinopec Oilfield Service's Average Total Inventories for the quarter that ended in Mar. 2024 was ¥1,587 Mil. Sinopec Oilfield Service's Inventory Turnover for the quarter that ended in Mar. 2024 was 10.75.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Sinopec Oilfield Service's Days Inventory for the three months ended in Mar. 2024 was 8.49.

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. Sinopec Oilfield Service's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.09.

Sinopec Oilfield Service Inventory Turnover Historical Data

The historical data trend for Sinopec Oilfield Service'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.

* Premium members only.

Sinopec Oilfield Service Inventory Turnover Chart

Sinopec Oilfield Service Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

Get a 7-Day Free Trial

49.05

56.85

60.81

61.69

63.94

Sinopec Oilfield Service 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															11.16	9.54	8.30	12.48	10.75

Sinopec Oilfield Service Inventory Turnover Calculation

Sinopec Oilfield Service'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 )
=	74187.497	/ (	(1116.341	+	1204.295)	/	2 )
=	74187.497	/	1160.318
=	63.94

Sinopec Oilfield Service's Inventory Turnover for the quarter that ended in Mar. 2024 is calculated as

	Inventory Turnover (Q: Mar. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Mar. 2024 )	/ (	(Total Inventories (Q: Dec. 2023 )	+	Total Inventories (Q: Mar. 2024 ))	/	count )
=	17065.972	/ (	(1204.295	+	1970.123)	/	2 )
=	17065.972	/	1587.209
=	10.75

Sinopec Oilfield Service (SHSE:600871) 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.

Sinopec Oilfield Service's Days Inventory for the three months ended in Mar. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2024 )	/	Cost of Goods Sold (Q: Mar. 2024 )	*	Days in Period
	=	1587.209	/	17065.972	*	365 / 4
	=	8.49

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.

Sinopec Oilfield Service's Inventory to Revenue for the quarter that ended in Mar. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	1587.209	/	18533.34
	=	0.09

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.

Sinopec Oilfield Service Inventory Turnover Related Terms

Thank you for viewing the detailed overview of Sinopec Oilfield Service's Inventory Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.

Sinopec Oilfield Service (SHSE:600871) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Sinopec Oilfield Service Corp (SHSE:600871) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

YZCFF:USA 01033:Hong Kong YIZH:Germany

Address

No. 9 Jishikou Road, Changyang District, Beijing, CHN, 100728

Website

https://ssc.sinopec.com

Sinopec Oilfield Service Corp engages in the provision of onshore and offshore oil and natural gas, exploration, provision of contracting, design, and construction services for the oil and gas projects. It operates through five segments: Geophysics, which provides technical and development, exploration geophysical services; Drilling engineering segment, which provides drilling design, and construction, technical services; Logging and mud logging segment; Special downhole segment, which provides oil engineering technical and construction services; and Engineering construction segment, which provides a package of services, including feasibility studies, procurement, and others. Its geographical segments are, The PRC, Middle East and Other countries.

Sinopec Oilfield Service (SHSE:600871) Headlines

No Headlines