Yantai Jereh Oilfield Services Group Co (SZSE:002353) Inventory Turnover : 0.26 (As of Mar. 2024)

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What is Yantai Jereh Oilfield Services Group Co Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Yantai Jereh Oilfield Services Group Co's Cost of Goods Sold for the three months ended in Mar. 2024 was ¥1,370 Mil. Yantai Jereh Oilfield Services Group Co's Average Total Inventories for the quarter that ended in Mar. 2024 was ¥5,344 Mil. Yantai Jereh Oilfield Services Group Co's Inventory Turnover for the quarter that ended in Mar. 2024 was 0.26.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Yantai Jereh Oilfield Services Group Co's Days Inventory for the three months ended in Mar. 2024 was 355.96.

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. Yantai Jereh Oilfield Services Group Co's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 2.51.

Yantai Jereh Oilfield Services Group Co Inventory Turnover Historical Data

The historical data trend for Yantai Jereh Oilfield Services Group Co's Inventory Turnover 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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Yantai Jereh Oilfield Services Group Co Inventory Turnover Chart

Yantai Jereh Oilfield Services Group Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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1.35

1.14

1.27

1.67

1.85

Yantai Jereh Oilfield Services Group Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Inventory Turnover	Get a 7-Day Free Trial															0.28	0.36	0.39	0.62	0.26

Yantai Jereh Oilfield Services Group Co Inventory Turnover Calculation

Yantai Jereh Oilfield Services Group Co's Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	9314.155	/ (	(4969.666	+	5124.366)	/	2 )
=	9314.155	/	5047.016
=	1.85

Yantai Jereh Oilfield Services Group Co's Inventory Turnover for the quarter that ended in Mar. 2024 is calculated as

	Inventory Turnover (Q: Mar. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Mar. 2024 )	/ (	(Total Inventories (Q: Dec. 2023 )	+	Total Inventories (Q: Mar. 2024 ))	/	count )
=	1369.827	/ (	(5124.366	+	5562.722)	/	2 )
=	1369.827	/	5343.544
=	0.26

Yantai Jereh Oilfield Services Group Co (SZSE:002353) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

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

Yantai Jereh Oilfield Services Group Co's Days Inventory for the three months ended in Mar. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2024 )	/	Cost of Goods Sold (Q: Mar. 2024 )	*	Days in Period
	=	5343.544	/	1369.827	*	365 / 4
	=	355.96

2. 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.

Yantai Jereh Oilfield Services Group Co's Inventory to Revenue for the quarter that ended in Mar. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	5343.544	/	2131.107
	=	2.51

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Yantai Jereh Oilfield Services Group Co Inventory Turnover Related Terms

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Yantai Jereh Oilfield Services Group Co (SZSE:002353) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Yantai Jereh Oilfield Services Group Co Ltd (SZSE:002353) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

No 7,Aucma Street, Laishan District, Shandong Province, Yantai, CHN, 264003

Website

http://www.jereh.com

Yantai Jereh Oilfield Services Group Co Ltd is a China-based company engaged in the manufacturing of oilfield equipment and the provision of oilfield services. It is engaged in drilling equipment and oil & gas field engineering equipment manufacturing, equipment maintenance and accessories sales, oil field engineering technology services, as well as oil & gas field construction services. The company conducts its businesses within domestic and overseas markets.

Executives

Lu Wei	Executives
Li Zhi Yong	Executives
Li Hui Tao	Director
Liu Zhen Feng	Director
Sun Wei Jie	Director
Wang Kun Xiao	Director
Dong Ting Ting	Supervisors
Wang Ji Li	Director
Liu Dong	Director
Li Xue Feng	Executives
Liu Yu Qiao	Supervisors
Cheng Yong Feng	Secretary Dong
Hu Wen Guo	Supervisors
Yu Xi Mao	Independent director
Yan Yu Li	Executives

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