Ray (TSE:4317) Inventory Turnover : 5.38 (As of Nov. 2023)

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What is Ray 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. Ray's Cost of Goods Sold for the three months ended in Nov. 2023 was 円2,315 Mil. Ray's Average Total Inventories for the quarter that ended in Nov. 2023 was 円431 Mil. Ray's Inventory Turnover for the quarter that ended in Nov. 2023 was 5.38.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Ray's Days Inventory for the three months ended in Nov. 2023 was 16.97.

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. Ray's Inventory-to-Revenue for the quarter that ended in Nov. 2023 was 0.12.

Ray Inventory Turnover Historical Data

The historical data trend for Ray'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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Ray Inventory Turnover Chart

Ray Annual Data

Trend

Feb14

Feb15

Feb16

Feb17

Feb18

Feb19

Feb20

Feb21

Feb22

Feb23

Inventory Turnover

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22.99

25.87

22.71

32.13

36.41

Ray Quarterly Data
	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23
Inventory Turnover	Get a 7-Day Free Trial															2.81	5.28	7.04	4.78	5.38

Ray Inventory Turnover Calculation

Ray's Inventory Turnover for the fiscal year that ended in Feb. 2023 is calculated as

	Inventory Turnover (A: Feb. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Feb. 2023 )	/ (	(Total Inventories (A: Feb. 2022 )	+	Total Inventories (A: Feb. 2023 ))	/	count )
=	8300.166	/ (	(242.129	+	213.811)	/	2 )
=	8300.166	/	227.97
=	36.41

Ray's Inventory Turnover for the quarter that ended in Nov. 2023 is calculated as

	Inventory Turnover (Q: Nov. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Nov. 2023 )	/ (	(Total Inventories (Q: Aug. 2023 )	+	Total Inventories (Q: Nov. 2023 ))	/	count )
=	2314.977	/ (	(366.591	+	494.533)	/	2 )
=	2314.977	/	430.562
=	5.38

Ray (TSE:4317) 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.

Ray's Days Inventory for the three months ended in Nov. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Nov. 2023 )	/	Cost of Goods Sold (Q: Nov. 2023 )	*	Days in Period
	=	430.562	/	2314.977	*	365 / 4
	=	16.97

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.

Ray's Inventory to Revenue for the quarter that ended in Nov. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Nov. 2023 )	/	Revenue (Q: Nov. 2023 )
	=	430.562	/	3691.912
	=	0.12

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.

Ray Inventory Turnover Related Terms

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Ray (TSE:4317) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Ray Corp (TSE:4317) » Definitions » Inventory Turnover

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Address

6-15-21 Roppongi, Hakus Roppongi Building, Minato-ku, Tokyo, JPN, 106-0032

Website

http://www.ray.co.jp

Ray Corp is engaged in communication design, events, creative design, and show and visual technical businesses in Japan. It is involved in the planning and production of various promotions, events, exhibitions, expositions, showrooms, printed materials, designs, premium products, and digital promotion of the Web. The company is also engaged in the rental and operation of large video equipment in the MICE and concerts.; live broadcasting, shooting, and network distribution activities; and video equipment sale and operational support to showrooms, hotel and conference facilities among other services.

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