ITT (STU:2II) Inventory Turnover : 1.03 (As of Mar. 2024)

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What is ITT 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. ITT's Cost of Goods Sold for the three months ended in Mar. 2024 was €561 Mil. ITT's Average Total Inventories for the quarter that ended in Mar. 2024 was €544 Mil. ITT's Inventory Turnover for the quarter that ended in Mar. 2024 was 1.03.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. ITT's Days Inventory for the three months ended in Mar. 2024 was 88.51.

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. ITT's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.65.

ITT Inventory Turnover Historical Data

The historical data trend for ITT'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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ITT Inventory Turnover Chart

ITT Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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5.07

4.29

4.87

4.40

3.87

ITT 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															0.97	0.97	0.95	0.93	1.03

ITT Inventory Turnover Calculation

ITT'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 )
=	1995.117	/ (	(504.002	+	527.642)	/	2 )
=	1995.117	/	515.822
=	3.87

ITT'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 )
=	561.016	/ (	(527.642	+	560.648)	/	2 )
=	561.016	/	544.145
=	1.03

ITT (STU:2II) 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.

ITT'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
	=	544.145	/	561.016	*	365 / 4
	=	88.51

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.

ITT'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 )
	=	544.145	/	837.752
	=	0.65

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.

ITT Inventory Turnover Related Terms

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ITT (STU:2II) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » ITT Inc (STU:2II) » Definitions » Inventory Turnover

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ITT:USA

Address

100 Washington Boulevard, 6th Floor, Stamford, CT, USA, 06902

Website

https://www.itt.com

ITT is a diversified industrial conglomerate with over $3 billion in sales. After the spinoffs of Xylem and Exelis in 2011, the company's products primarily include brake pads, shock absorbers, pumps, valves, connectors, and switches. Its customers include original-equipment and Tier 1 manufacturers as well as aftermarket customers. ITT uses a network of approximately 700 independent distributors, which accounts for about one third of overall revenue. Nearly three fourths of the company's sales are made in North America and Europe. ITT's primary end markets include automotive, rail, oil and gas, aerospace and defense, chemical, mining, and general industrial.

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