Heartware International, (FRA:HIY1) Total Inventories : €33.7 Mil (As of Jun. 2016)

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What is Heartware International, Total Inventories?

Heartware International,'s total inventories for the quarter that ended in Jun. 2016 was €33.7 Mil. Heartware International,'s average total inventories from the quarter that ended in Mar. 2016 to the quarter that ended in Jun. 2016 was €36.3 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Heartware International,'s Net-Net Working Capital per share for the quarter that ended in Jun. 2016 was €-0.04.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Heartware International,'s Days Inventory for the three months ended in Jun. 2016 was 156.38.

Inventory Turnover measures how fast the company turns over its inventory within a year. Heartware International,'s Inventory Turnover for the quarter that ended in Jun. 2016 was 0.58.

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. Heartware International,'s Inventory-to-Revenue for the quarter that ended in Jun. 2016 was 0.59.

Heartware International, Total Inventories Historical Data

The historical data trend for Heartware International,'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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Heartware International, Total Inventories Chart

Heartware International, Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Total Inventories

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24.32

29.29

29.84

43.83

43.78

Heartware International, Quarterly Data
	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16
Total Inventories	Get a 7-Day Free Trial															45.06	42.10	43.78	38.98	33.70

Heartware International, 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.

Heartware International, (FRA:HIY1) 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.

Heartware International,'s Net-Net Working Capital Per Share for the quarter that ended in Jun. 2016 is

	Net-Net Working Capital Per Share (Q: Jun. 2016 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(164.848	+	0.75 * 34.441	+	0.5 * 33.699	-	231.471
-	0	-	0)	/	572.378
=	-0.04

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

Heartware International,'s Days Inventory for the three months ended in Jun. 2016 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2016 )	/	Cost of Goods Sold (Q: Jun. 2016 )	*	Days in Period
	=	36.339	/	21.205	*	365 / 4
	=	156.38

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

Heartware International,'s Inventory Turnover for the quarter that ended in Jun. 2016 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Jun. 2016 )	/	Average Total Inventories (Q: Jun. 2016 )
	=	21.205	/	36.339
	=	0.58

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.

Heartware International,'s Inventory to Revenue for the quarter that ended in Jun. 2016 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2016 )	/	Revenue (Q: Jun. 2016 )
	=	36.339	/	61.161
	=	0.59

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.

Heartware International, Total Inventories Related Terms

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Heartware International, (FRA:HIY1) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Heartware International, Inc. (FRA:HIY1) » Definitions » Total Inventories

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Address

Website

http://www.heartware.com

Heartware International Inc was incorporated in Delaware on July 29, 2008 and became the successor issuer to HeartWare Limited, an Australian corporation, on November 13, 2008, as a result of the Australian Court approved redomiciliation of HeartWare Limited from Australia to Delaware. HeartWare is a medical device company engaged in developing implantable blood pumps for the treatment of advanced heart failure. The Company operates one reportable segment which includes the design, manufacture and marketing of medical devices for the treatment of advanced heart failure. The HeartWare Ventricular Assist System, which includes a left ventricular assist device, or blood pump, patient accessories and surgical tools, is designed to provide circulatory support for patients with advanced heart failure. Beyond the HeartWare System, the company is also evaluating its next device, the Miniaturized Ventricular Assist Device. The MVAD is based on the same technology platform as the HeartWare System but adopts an axial flow, rather than a centrifugal flow, configuration and is being developed in multiple configurations. The MVAD designs are currently at the preclinical stage and undergoing animal studies focused on minimally invasive implantation techniques and are each approximately one-third the size of the HVAD Pump. The Company's competitors in the implantable cardiac assist space include Thoratec Corporation, Jarvik Heart, Inc., MicroMed Cardiovascular, Berlin Heart GmbH, and Sunshine Heart, Inc. HEARTWARE, HVAD, MVAD, PAL, CIRCULITE, SYNERGY and various company logos are the trademarks of the Company, in the United States, Europe, Australia and other countries.

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