Weiqiao Textile Co (Weiqiao Textile Co) Inventory Turnover : 2.51 (As of Jun. 2023)

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What is Weiqiao Textile Co 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. Weiqiao Textile Co's Cost of Goods Sold for the six months ended in Jun. 2023 was $1,107 Mil. Weiqiao Textile Co's Average Total Inventories for the quarter that ended in Jun. 2023 was $441 Mil. Weiqiao Textile Co's Inventory Turnover for the quarter that ended in Jun. 2023 was 2.51.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Weiqiao Textile Co's Days Inventory for the six months ended in Jun. 2023 was 72.69.

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. Weiqiao Textile Co's Inventory-to-Revenue for the quarter that ended in Jun. 2023 was 0.40.

Weiqiao Textile Co Inventory Turnover Historical Data

The historical data trend for Weiqiao Textile Co'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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Weiqiao Textile Co Inventory Turnover Chart

Weiqiao Textile Co Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Inventory Turnover

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4.99

4.75

4.78

5.69

5.57

Weiqiao Textile Co Semi-Annual Data
	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
Inventory Turnover	Get a 7-Day Free Trial															2.84	3.15	2.49	2.50	2.51

Weiqiao Textile Co Inventory Turnover Calculation

Weiqiao Textile Co's Inventory Turnover for the fiscal year that ended in Dec. 2022 is calculated as

	Inventory Turnover (A: Dec. 2022 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2022 )	/ (	(Total Inventories (A: Dec. 2021 )	+	Total Inventories (A: Dec. 2022 ))	/	count )
=	2523.039	/ (	(466.3	+	439.184)	/	2 )
=	2523.039	/	452.742
=	5.57

Weiqiao Textile Co's Inventory Turnover for the quarter that ended in Jun. 2023 is calculated as

	Inventory Turnover (Q: Jun. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Jun. 2023 )	/ (	(Total Inventories (Q: Dec. 2022 )	+	Total Inventories (Q: Jun. 2023 ))	/	count )
=	1107.206	/ (	(439.184	+	442.793)	/	2 )
=	1107.206	/	440.9885
=	2.51

Weiqiao Textile Co (OTCPK:WQTEF) 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.

Weiqiao Textile Co's Days Inventory for the six months ended in Jun. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2023 )	/	Cost of Goods Sold (Q: Jun. 2023 )	*	Days in Period
	=	440.9885	/	1107.206	*	365 / 2
	=	72.69

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.

Weiqiao Textile Co's Inventory to Revenue for the quarter that ended in Jun. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2023 )	/	Revenue (Q: Jun. 2023 )
	=	440.9885	/	1110.278
	=	0.40

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.

Weiqiao Textile Co Inventory Turnover Related Terms

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Weiqiao Textile Co (Weiqiao Textile Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Weiqiao Textile Co Ltd (OTCPK:WQTEF) » Definitions » Inventory Turnover

Traded in Other Exchanges

02698:Hong Kong WEZ:Germany

Address

No. 1, Wei Fang Road, Zouping Economic Development Zone, Zouping City, Shandong Province, Binzhou, CHN, 256200

Website

http://www.wqfz.com

Weiqiao Textile Co Ltd produces, sells, and distributes textiles including cotton yarn, grey fabric, and denim. Its geographical segment includes Mainland China, Southeast Asia, Hong Kong, South Asia, East Asia, and Other regions. The majority of the company's revenue is generated from Mainland China. It operates in two segments. The textile products segment produces and sells cotton yarn, grey fabric, and denim. The electricity and steam segment generates electricity and steam for internal use in the production of textile products and also for sale to external customers.

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