MICE Group (LSE:MEG) Total Inventories : £30.6 Mil (As of Aug. 2006)

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What is MICE Group Total Inventories?

MICE Group's total inventories for the quarter that ended in Aug. 2006 was £30.6 Mil. MICE Group's average total inventories from the quarter that ended in Feb. 2006 to the quarter that ended in Aug. 2006 was £26.6 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. MICE Group's Net-Net Working Capital per share for the quarter that ended in Aug. 2006 was £-0.49.

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

Inventory Turnover measures how fast the company turns over its inventory within a year. MICE Group's Inventory Turnover for the quarter that ended in Aug. 2006 was 0.00.

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.

MICE Group Total Inventories Historical Data

The historical data trend for MICE Group'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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MICE Group Total Inventories Chart

MICE Group Annual Data

Trend

Dec95

Dec96

Dec97

Dec98

Dec99

Dec00

Feb03

Feb04

Feb05

Feb06

Total Inventories

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5.83

9.45

13.11

20.39

22.70

MICE Group Quarterly Data
	Aug03	Feb04	Aug04	Feb05	Aug05	Feb06	Aug06
Total Inventories	Get a 7-Day Free Trial			13.03	20.39	25.89	22.70	30.57

MICE Group 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.

MICE Group (LSE:MEG) 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.

MICE Group's Net-Net Working Capital Per Share for the quarter that ended in Aug. 2006 is

	Net-Net Working Capital Per Share (Q: Aug. 2006 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(6.465	+	0.75 * 0	+	0.5 * 30.565	-	108.42
-	0	-	0)	/	176.026
=	-0.49

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

MICE Group's Days Inventory for the three months ended in Aug. 2006 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Aug. 2006 )	/	Cost of Goods Sold (Q: Aug. 2006 )	*	Days in Period
	=	26.632	/	0	*	365 / 4
	=

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

MICE Group's Inventory Turnover for the quarter that ended in Aug. 2006 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Aug. 2006 )	/	Average Total Inventories (Q: Aug. 2006 )
	=	0	/	26.632
	=	0.00

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.

MICE Group's Inventory to Revenue for the quarter that ended in Aug. 2006 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Aug. 2006 )	/	Revenue (Q: Aug. 2006 )
	=	26.632	/	0
	=

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.

MICE Group Total Inventories Related Terms

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MICE Group (LSE:MEG) Business Description

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http://www.micegroup.com

MICE Group PLC provides experiential marketing solutions for brands, delivering integrated business to business and business to consumer campaigns. It is currently organised into three operating divisions - International Division, UK Division and North American Division. International Division provides the provision of experiential brand and marketing communication programmes. UK Division is engaged in the provision of design, fabrication, production and project management solutions. North American Division is engaged in the provision of experiential brand and marketing programmes and production services. The group's operations are located in the United Kingdom, Continental Europe and North America.