MFCO (Microwave Filter Co) Total Inventories : $0.50 Mil (As of Jun. 2019)

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What is Microwave Filter Co Total Inventories?

Microwave Filter Co's total inventories for the quarter that ended in Jun. 2019 was $0.50 Mil. Microwave Filter Co's average total inventories from the quarter that ended in Mar. 2019 to the quarter that ended in Jun. 2019 was $0.46 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Microwave Filter Co's Net-Net Working Capital per share for the quarter that ended in Jun. 2019 was $0.21.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Microwave Filter Co's Days Inventory for the three months ended in Jun. 2019 was 83.09.

Inventory Turnover measures how fast the company turns over its inventory within a year. Microwave Filter Co's Inventory Turnover for the quarter that ended in Jun. 2019 was 1.10.

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. Microwave Filter Co's Inventory-to-Revenue for the quarter that ended in Jun. 2019 was 0.55.

Microwave Filter Co Total Inventories Historical Data

The historical data trend for Microwave Filter Co'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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Microwave Filter Co Total Inventories Chart

Microwave Filter Co Annual Data

Trend

Sep09

Sep10

Sep11

Sep12

Sep13

Sep14

Sep15

Sep16

Sep17

Sep18

Total Inventories

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0.47

0.45

0.46

0.38

Microwave Filter Co Quarterly Data
	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19
Total Inventories	Get a 7-Day Free Trial															0.42	0.38	0.38	0.43	0.50

Microwave Filter Co 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.

Microwave Filter Co (OTCPK:MFCO) 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.

Microwave Filter Co's Net-Net Working Capital Per Share for the quarter that ended in Jun. 2019 is

	Net-Net Working Capital Per Share (Q: Jun. 2019 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(0.538	+	0.75 * 0.391	+	0.5 * 0.496	-	0.54
-	0	-	0)	/	2.57924
=	0.21

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

Microwave Filter Co's Days Inventory for the three months ended in Jun. 2019 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Jun. 2019 )	/	Cost of Goods Sold (Q: Jun. 2019 )	*	Days in Period
	=	0.4635	/	0.509	*	365 / 4
	=	83.09

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

Microwave Filter Co's Inventory Turnover for the quarter that ended in Jun. 2019 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Jun. 2019 )	/	Average Total Inventories (Q: Jun. 2019 )
	=	0.509	/	0.4635
	=	1.10

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.

Microwave Filter Co's Inventory to Revenue for the quarter that ended in Jun. 2019 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Jun. 2019 )	/	Revenue (Q: Jun. 2019 )
	=	0.4635	/	0.841
	=	0.55

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.

Microwave Filter Co Total Inventories Related Terms

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Microwave Filter Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Microwave Filter Co Inc (OTCPK:MFCO) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

N/A

Address

6743 Kinne Street, East Syracuse, Syracuse, NY, USA, 13057

Website

https://www.microwavefilter.com

Microwave Filter Co Inc operates in the United States and principally in one Industry. The Company extends credit to business customers, including original equipment manufacturers (OEMs), distributors and other end users, based upon ongoing credit evaluations. MFC designs, develops, manufactures and sells electronic filters, both for radio and microwave frequencies, to help process signal distribution and to prevent unwanted signals from disrupting transmit or receive operations. Markets served include 5G, cable television, television and radio broadcast, satellite broadcast, mobile radio and commercial and defense electronics.

Executives

Hummingbird Value Fund Lp	other: See explanation of responses	145 E. 57TH STREET, 8TH FLOOR, NEW YORK NY 10022
Hummingbird Management Llc	other: See explanation of responses	145 E. 57TH STREET, 8TH FLOOR, NEW YORK NY 10022
Paul D Sonkin	other: See explanation of responses	145 E. 57TH STREET, 8TH FLOOR, NEW YORK NY 10022
Hummingbird Capital Llc	other: See explanation of responses	145 E. 57TH STREET, 8TH FLOOR, NEW YORK NY 10022
Tarsier Nanocap Value Fund, Lp	other: See explanation of responses	C/O HUMMINGBIRD MANAGEMENT, LLC, 145 E. 57TH STREET, 8TH FLOOR, NEW YORK NY 10022
Christopher N Argyrople	10 percent owner	50 MILK STREET, 21ST FLOOR, BOSTON MA 02109

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