Zep (FRA:14Z) Total Inventories : €73.9 Mil (As of Feb. 2015)

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What is Zep Total Inventories?

Zep's total inventories for the quarter that ended in Feb. 2015 was €73.9 Mil. Zep's average total inventories from the quarter that ended in Nov. 2014 to the quarter that ended in Feb. 2015 was €73.9 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Zep's Net-Net Working Capital per share for the quarter that ended in Feb. 2015 was €-8.92.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Zep's Days Inventory for the three months ended in Feb. 2015 was 87.21.

Inventory Turnover measures how fast the company turns over its inventory within a year. Zep's Inventory Turnover for the quarter that ended in Feb. 2015 was 1.05.

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. Zep's Inventory-to-Revenue for the quarter that ended in Feb. 2015 was 0.52.

Zep Total Inventories Historical Data

The historical data trend for Zep's Total Inventories 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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Zep Total Inventories Chart

Zep Annual Data

Trend

Aug05

Aug06

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Aug14

Total Inventories

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41.22

42.68

57.59

51.54

57.04

Zep Quarterly Data
	May10	Aug10	Nov10	Feb11	May11	Aug11	Nov11	Feb12	May12	Aug12	Nov12	Feb13	May13	Aug13	Nov13	Feb14	May14	Aug14	Nov14	Feb15
Total Inventories	Get a 7-Day Free Trial															57.92	54.87	57.04	73.90	73.88

Zep Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Zep (FRA:14Z) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Zep's Net-Net Working Capital Per Share for the quarter that ended in Feb. 2015 is

	Net-Net Working Capital Per Share (Q: Feb. 2015 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(2.757	+	0.75 * 84.224	+	0.5 * 73.884	-	305.103
-	0	-	0)	/	22.6644
=	-8.92

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Zep's Days Inventory for the three months ended in Feb. 2015 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Feb. 2015 )	/	Cost of Goods Sold (Q: Feb. 2015 )	*	Days in Period
	=	73.8935	/	77.315	*	365 / 4
	=	87.21

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Zep's Inventory Turnover for the quarter that ended in Feb. 2015 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Feb. 2015 )	/	Average Total Inventories (Q: Feb. 2015 )
	=	77.315	/	73.8935
	=	1.05

4. 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.

Zep's Inventory to Revenue for the quarter that ended in Feb. 2015 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Feb. 2015 )	/	Revenue (Q: Feb. 2015 )
	=	73.8935	/	141.022
	=	0.52

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Zep Total Inventories Related Terms

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Zep (FRA:14Z) Business Description

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Address

Website

http://www.zepinc.com

Zep Inc. was founded in 1937. It is a producer, marketer, and service provider of a range of cleaning and maintenance solutions for commercial, industrial, institutional, and consumer end-markets. Zeps product portfolio includes anti-bacterial and industrial hand care products, cleaners, degreasers, deodorizers, disinfectants, floor finishes, sanitizers, and pest and weed control products. It continually refreshes its product portfolio and service offerings. Zep reaches its customers through an experienced, international organization of sales representatives supported by highly skilled marketing, research and development and technical services teams, who collectively provide creative solutions for its customers' diverse cleaning and maintenance needs by utilizing their product expertise and providing customized value added services that it distinguish Zep among its competitors. Through its direct sales organization, Zep provides convenient, highly effective cleaning and maintenance solutions to customers in a broad array of commercial, industrial, and institutional end-markets, including transportation, food processing and service, manufacturing, government, and housekeeping. These customers include government entities and businesses ranging from small sole proprietorships to large corporations. It sells its products to customers mainly in the United States, Canada and Western Europe. Zep markes these products and services under well recognized and established brand names, such as Zep , Zep Commercial, Zep Professional, Enforcer, and Selig. Zep is its flagship brand and represents largest portfolio of cleaning and maintenance solutions for commercial, industrial, and institutional customers needing highly effective product solutions and professional technical support. Zep Commercial provides professional cleaning and plumbing chemical products targeted to contractors and small business owners and are currently sold through The Home Depot, HD Supply and other retailers. Zep Professional was introduced in fiscal year 2009 and represents its portfolio of cleaning and maintenance solutions that are offered to customers in the commercial, industrial, and institutional end-markets who prefer to acquire product through the distribution channel. Selig offers a limited assortment of cleaning solutions targeted to commercial, industrial and institutional customers. It produces a range of cleaning and maintenance solutions for commercial, industrial, institutional, and consumer customers. Zeps commercial, industrial, and institutional customers include government entities and businesses ranging from small sole proprietorships to large corporations as well as distributors. Its sales and service organization covers the United States, Canada, Italy, Belgium, Luxemburg, the Netherlands and certain other smaller markets. It manufactures products at six facilities located in the United States, Canada, the Netherlands, and Italy.The key raw materi

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