Geomega Resources (TSXV:GMA) Inventory Turnover : 1.81 (As of May. 2024)

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What is Geomega Resources 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. Geomega Resources's Cost of Goods Sold for the three months ended in May. 2024 was C$0.04 Mil. Geomega Resources's Average Total Inventories for the quarter that ended in May. 2024 was C$0.02 Mil. Geomega Resources's Inventory Turnover for the quarter that ended in May. 2024 was 1.81.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Geomega Resources's Days Inventory for the three months ended in May. 2024 was 50.30.

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.

Geomega Resources Inventory Turnover Historical Data

The historical data trend for Geomega Resources'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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Geomega Resources Inventory Turnover Chart

Geomega Resources Annual Data

Trend

May15

May16

May17

May18

May19

May20

May21

May22

May23

May24

Inventory Turnover

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4.29

8.42

1.68

1.84

8.88

Geomega Resources Quarterly Data
	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24
Inventory Turnover	Get a 7-Day Free Trial															2.06	3.05	2.20	1.71	1.81

Geomega Resources Inventory Turnover Calculation

Geomega Resources's Inventory Turnover for the fiscal year that ended in May. 2024 is calculated as

	Inventory Turnover (A: May. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: May. 2024 )	/ (	(Total Inventories (A: May. 2023 )	+	Total Inventories (A: May. 2024 ))	/	count )
=	0.182	/ (	(0.019	+	0.022)	/	2 )
=	0.182	/	0.0205
=	8.88

Geomega Resources's Inventory Turnover for the quarter that ended in May. 2024 is calculated as

	Inventory Turnover (Q: May. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: May. 2024 )	/ (	(Total Inventories (Q: Feb. 2024 )	+	Total Inventories (Q: May. 2024 ))	/	count )
=	0.039	/ (	(0.021	+	0.022)	/	2 )
=	0.039	/	0.0215
=	1.81

Geomega Resources (TSXV:GMA) 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.

Geomega Resources's Days Inventory for the three months ended in May. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: May. 2024 )	/	Cost of Goods Sold (Q: May. 2024 )	*	Days in Period
	=	0.0215	/	0.039	*	365 / 4
	=	50.30

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.

Geomega Resources's Inventory to Revenue for the quarter that ended in May. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: May. 2024 )	/	Revenue (Q: May. 2024 )
	=	0.0215	/	-0.401
	=

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.

Geomega Resources Inventory Turnover Related Terms

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Geomega Resources Business Description

Industry

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GOMRF:USA

Address

75 Boulevard de Mortagne, Boucherville, QC, CAN, J4B 6Y4

Website

https://www.ressourcesgeomega.ca

Geomega Resources Inc is engaged in the acquisition, exploration, and evaluation of mining properties in Canada. It primarily explores for rare earth elements and niobium deposits. It holds an interest in Montviel property on the discovery and development of deposits of metals in Quebec. The Montviel property is located approximately 100 kilometers north of Lebel-sur-Quevillon and Buckingham property.

Executives

Mathieu Bourdeau

Senior Officer