CVR Energy (STU:FL9) Inventory Turnover : 2.83 (As of Mar. 2024)

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What is CVR Energy 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. CVR Energy's Cost of Goods Sold for the three months ended in Mar. 2024 was €1,567 Mil. CVR Energy's Average Total Inventories for the quarter that ended in Mar. 2024 was €553 Mil. CVR Energy's Inventory Turnover for the quarter that ended in Mar. 2024 was 2.83.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. CVR Energy's Days Inventory for the three months ended in Mar. 2024 was 32.23.

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. CVR Energy's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.32.

CVR Energy Inventory Turnover Historical Data

The historical data trend for CVR Energy'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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CVR Energy Inventory Turnover Chart

CVR Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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15.24

11.69

18.49

18.14

12.81

CVR Energy 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															3.09	3.47	3.62	3.33	2.83

CVR Energy Inventory Turnover Calculation

CVR Energy'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 )
=	7318.577	/ (	(589.056	+	553.868)	/	2 )
=	7318.577	/	571.462
=	12.81

CVR Energy'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 )
=	1566.76	/ (	(553.868	+	552.92)	/	2 )
=	1566.76	/	553.394
=	2.83

CVR Energy (STU:FL9) 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.

CVR Energy'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
	=	553.394	/	1566.76	*	365 / 4
	=	32.23

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.

CVR Energy'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 )
	=	553.394	/	1713.96
	=	0.32

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.

CVR Energy Inventory Turnover Related Terms

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CVR Energy (STU:FL9) Business Description

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CVI:USA

Address

2277 Plaza Drive, Suite 500, Sugar Land, TX, USA, 77479

Website

https://www.cvrenergy.com

CVR Energy Inc is a holding company that engages in petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP and CVR Partners, LP. CVR Refining LP includes several complex full coking crude oil refineries, along with a crude oil gathering system, pipelines and storage tanks, and marketing and supply. The company's refineries can process blends of a variety of crude oil ranging from heavy sour to light sweet crude oil. Crude oil for CVR's refineries is supplied through its wholly-owned gathering system and pipeline. From its refineries, CVR supplies product through tanker trucks directly to customers located in close geographic proximity and customers at throughput terminals. The company's customers include retailers, railroads, and farm cooperatives.

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