China Feihe (HKSE:06186) Total Inventories : HK$2,470 Mil (As of Dec. 2023)

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What is China Feihe Total Inventories?

China Feihe's total inventories for the quarter that ended in Dec. 2023 was HK$2,470 Mil. China Feihe's average total inventories from the quarter that ended in Jun. 2023 to the quarter that ended in Dec. 2023 was HK$2,339 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. China Feihe's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was HK$1.12.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. China Feihe's Days Inventory for the six months ended in Dec. 2023 was 111.71.

Inventory Turnover measures how fast the company turns over its inventory within a year. China Feihe's Inventory Turnover for the quarter that ended in Dec. 2023 was 1.63.

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. China Feihe's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.22.

China Feihe Total Inventories Historical Data

The historical data trend for China Feihe'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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China Feihe Total Inventories Chart

China Feihe Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

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763.45

1,522.66

2,108.30

2,226.92

2,469.82

China Feihe Semi-Annual Data
	Dec16	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Total Inventories	Get a 7-Day Free Trial									2,108.30	1,807.30	2,226.92	2,207.22	2,469.82

China Feihe 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.

China Feihe (HKSE:06186) 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.

China Feihe's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(20904.139	+	0.75 * 463.481	+	0.5 * 2469.817	-	10785.023
-	0	-	1519.792)	/	9067.25
=	1.12

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

China Feihe's Days Inventory for the six months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	2338.5165	/	3820.451	*	365 / 2
	=	111.71

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

China Feihe's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	3820.451	/	2338.5165
	=	1.63

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.

China Feihe's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	2338.5165	/	10715.728
	=	0.22

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.

China Feihe Total Inventories Related Terms

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China Feihe (HKSE:06186) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » China Feihe Ltd (HKSE:06186) » Definitions » Total Inventories

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CHFLF:USA CFEIY:USA

Address

10 Jiuxianqiao Road, Block C, 16th Floor, Star City International Building, Chaoyang District, Beijing, CHN, 100016

Website

https://www.feihe.com

Feihe is the number one infant milk formula company in China, with a premium market positioning among domestic and foreign competing brands. The company utilizes the flagship Astrobaby lineup to promote its "more suitable for Chinese babies" proposition. It has a nationwide distributor network covering maternity stores, supermarkets and traditional retailers, as well as a direct sales network in e-commerce.

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