Axis Auto Finance (TSX:AXIS) Inventory Turnover : 1.50 (As of Mar. 2024)

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What is Axis Auto Finance 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. Axis Auto Finance's Cost of Goods Sold for the three months ended in Mar. 2024 was C$6.27 Mil. Axis Auto Finance's Average Total Inventories for the quarter that ended in Mar. 2024 was C$4.17 Mil. Axis Auto Finance's Inventory Turnover for the quarter that ended in Mar. 2024 was 1.50.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Axis Auto Finance's Days Inventory for the three months ended in Mar. 2024 was 60.72.

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. Axis Auto Finance's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.43.

Axis Auto Finance Inventory Turnover Historical Data

The historical data trend for Axis Auto Finance'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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Axis Auto Finance Inventory Turnover Chart

Axis Auto Finance Annual Data

Trend

Apr14

Apr15

Apr16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Inventory Turnover

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10.27

4.21

7.31

9.36

8.95

Axis Auto Finance 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															2.38	1.99	1.84	1.71	1.50

Axis Auto Finance Inventory Turnover Calculation

Axis Auto Finance's Inventory Turnover for the fiscal year that ended in Jun. 2023 is calculated as

	Inventory Turnover (A: Jun. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Jun. 2023 )	/ (	(Total Inventories (A: Jun. 2022 )	+	Total Inventories (A: Jun. 2023 ))	/	count )
=	25.686	/ (	(2.002	+	3.736)	/	2 )
=	25.686	/	2.869
=	8.95

Axis Auto Finance'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 )
=	6.269	/ (	(3.939	+	4.404)	/	2 )
=	6.269	/	4.1715
=	1.50

Axis Auto Finance (TSX:AXIS) 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.

Axis Auto Finance'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
	=	4.1715	/	6.269	*	365 / 4
	=	60.72

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.

Axis Auto Finance'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 )
	=	4.1715	/	9.702
	=	0.43

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.

Axis Auto Finance Inventory Turnover Related Terms

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Axis Auto Finance (TSX:AXIS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Axis Auto Finance Inc (TSX:AXIS) » Definitions » Inventory Turnover

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Traded in Other Exchanges

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Address

165 Galaxy Boulevard, 2nd Floor, Etobicoke, ON, CAN, M9W 0C8

Website

https://www.axisautofinance.com

Axis Auto Finance Inc is a fintech company that is changing the way used vehicles are purchased and financed in Canada. The company's direct-to-consumer website, DriveAxis.ca, enables users to choose their next used vehicle, customize financing terms, and get the car delivered to homes. In addition, the company continues to grow business-to-business non-prime auto loan originations by delivering innovative technology solutions and superior service to its dealer partners.

Executives

Todd Charles Hudson

Senior Officer

Axis Auto Finance (TSX:AXIS) Headlines

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