Maxxam (Maxxam) Total Inventories : $2.80 Mil (As of Sep. 2009)

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What is Maxxam Total Inventories?

Maxxam's total inventories for the quarter that ended in Sep. 2009 was $2.80 Mil. Maxxam's average total inventories from the quarter that ended in Jun. 2009 to the quarter that ended in Sep. 2009 was $2.75 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Maxxam's Net-Net Working Capital per share for the quarter that ended in Sep. 2009 was $-40,997.81.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Maxxam's Days Inventory for the three months ended in Sep. 2009 was 18.32.

Inventory Turnover measures how fast the company turns over its inventory within a year. Maxxam's Inventory Turnover for the quarter that ended in Sep. 2009 was 4.98.

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. Maxxam's Inventory-to-Revenue for the quarter that ended in Sep. 2009 was 0.15.

Maxxam Total Inventories Historical Data

The historical data trend for Maxxam'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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Maxxam Total Inventories Chart

Maxxam Annual Data

Trend

Dec99

Dec00

Dec01

Dec02

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Total Inventories

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24.20

26.50

41.80

3.90

2.70

Maxxam Quarterly Data
	Dec04	Mar05	Jun05	Sep05	Dec05	Mar06	Jun06	Sep06	Dec06	Mar07	Jun07	Sep07	Dec07	Mar08	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09
Total Inventories	Get a 7-Day Free Trial															3.80	2.70	2.70	2.70	2.80

Maxxam 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.

Maxxam (OTCPK:MAXX) 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.

Maxxam's Net-Net Working Capital Per Share for the quarter that ended in Sep. 2009 is

	Net-Net Working Capital Per Share (Q: Sep. 2009 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(27.9	+	0.75 * 1.6	+	0.5 * 2.8	-	778
-	0.3	-	0)	/	0.01824
=	-40,997.81

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

Maxxam's Days Inventory for the three months ended in Sep. 2009 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Sep. 2009 )	/	Cost of Goods Sold (Q: Sep. 2009 )	*	Days in Period
	=	2.75	/	13.7	*	365 / 4
	=	18.32

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

Maxxam's Inventory Turnover for the quarter that ended in Sep. 2009 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Sep. 2009 )	/	Average Total Inventories (Q: Sep. 2009 )
	=	13.7	/	2.75
	=	4.98

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.

Maxxam's Inventory to Revenue for the quarter that ended in Sep. 2009 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Sep. 2009 )	/	Revenue (Q: Sep. 2009 )
	=	2.75	/	18.2
	=	0.15

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.

Maxxam Total Inventories Related Terms

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Maxxam (Maxxam) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Maxxam Inc (OTCPK:MAXX) » Definitions » Total Inventories

Comparable Companies

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Address

Website

http://www.maxxaminc.com

Maxxam Inc through its subsidiaries, is engaged in the residential and commercial real estate investment and development, and racing operations.

Executives

Charles E Hurwitz	director, 10 percent owner, officer: Chairman of the Board & CEO	1330 POST OAK BOULEVARD, SUITE 2000, HOUSTON TX 77056
Robert J Cruikshank	director	2001 KIRBY, SUITE 313, HOUSTON TX 77019
Ezra G Levin	director	1330 POST OAK BLVD., SUITE 2000, HOUSTON TX 77056
Luxor Capital Group, Lp	10 percent owner	7 TIMES SQUARE, 43RD FLOOR, NEW YORK NY 10036
Luxor Capital Partners Offshore Ltd	10 percent owner	C/O MAPLES CORPORATE SERVICES LTD., PO BOX 309, UGLAND HOUSE, GEORGE TOWN E9 KY1-1104
Luxor Capital Partners, Lp	10 percent owner	7 TIMES SQUARE, 43RD FLOOR, NEW YORK NY 10036
Elizabeth D Brumley	officer: Controller	9800 RICHMOND AVE., SUITE 700, HOUSTON TX 77042
Lcg Holdings Llc	10 percent owner	7 TIMES SQUARE, 43RD FLOOR, NEW YORK NY 10036

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