Covenant Logistics Group (Covenant Logistics Group) Days Inventory : 1.92 (As of Dec. 2023)

View and export this data going back to 1994. Start your Free Trial

What is Covenant Logistics Group Days Inventory?

Days Inventory is also known as Days Sales of Inventory (DSI). Covenant Logistics Group's Average Total Inventories for the three months ended in Dec. 2023 was $5 Mil. Covenant Logistics Group's Cost of Goods Sold for the three months ended in Dec. 2023 was $231 Mil. Hence, Covenant Logistics Group's Days Inventory for the three months ended in Dec. 2023 was 1.92.

The historical rank and industry rank for Covenant Logistics Group's Days Inventory or its related term are showing as below:

CVLG' s Days Inventory Range Over the Past 10 Years
Min: 1.21 Med: 2 Max: 2.75
Current: 1.61

During the past 13 years, Covenant Logistics Group's highest Days Inventory was 2.75. The lowest was 1.21. And the median was 2.00.

CVLG's Days Inventory is ranked better than
86.41% of 780 companies
in the Transportation industry
Industry Median: 11.545 vs CVLG: 1.61

Covenant Logistics Group's Days Inventory increased from Dec. 2022 (1.28) to Dec. 2023 (1.92). It might indicate that Covenant Logistics Group's sales slowed down.

Inventory Turnover measures how fast the company turns over its inventory within a year. Covenant Logistics Group's Inventory Turnover for the three months ended in Dec. 2023 was 47.54.

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. Covenant Logistics Group's Inventory-to-Revenue for the three months ended in Dec. 2023 was 0.02.

Covenant Logistics Group Days Inventory Historical Data

The historical data trend for Covenant Logistics Group's Days Inventory 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.

* Premium members only.

Covenant Logistics Group Days Inventory Chart

Covenant Logistics Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Days Inventory

Get a 7-Day Free Trial

1.94

1.83

1.31

1.21

1.62

Covenant Logistics Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Days Inventory	Get a 7-Day Free Trial															1.37	1.44	1.68	1.92	1.90

Competitive Comparison of Covenant Logistics Group's Days Inventory

For the Trucking subindustry, Covenant Logistics Group's Days Inventory, along with its competitors' market caps and Days Inventory data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Covenant Logistics Group's Days Inventory Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Covenant Logistics Group's Days Inventory distribution charts can be found below:

* The bar in red indicates where Covenant Logistics Group's Days Inventory falls into.

Covenant Logistics Group Days Inventory Calculation

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

Covenant Logistics Group's Days Inventory for the fiscal year that ended in Dec. 2023 is calculated as

	Days Inventory (A: Dec. 2023 )
=	Average Total Inventories					/	Cost of Goods Sold	*	Days in Period
=	( (Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (A: Dec. 2023 )	*	Days in Period
=	( (3.516	+	4.848)	/	2 )	/	939.371	*	365
=	4.182					/	939.371	*	365
=	1.62

Covenant Logistics Group's Days Inventory for the quarter that ended in Dec. 2023 is calculated as:

	Days Inventory (Q: Dec. 2023 )
=	Average Total Inventories					/	Cost of Goods Sold	*	Days in Period
=	( (Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
=	( (4.863	+	4.848)	/	2 )	/	230.852	*	365 / 4
=	4.8555					/	230.852	*	365 / 4
=	1.92

Covenant Logistics Group (NAS:CVLG) Days Inventory Explanation

Days Inventory indicates the liquidity of the inventory. Generally, a lower Days Inventory is preferred as it indicates a shorter duration to clear off the inventory. An increase of the ratio may indicate the company's sales slowed. Similar ratios related to Days Inventory are:

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

Covenant Logistics Group's Inventory Turnover for the three months ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold	/	Average Total Inventories
	=	230.852	/	4.8555
	=	47.54

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.

Covenant Logistics Group's Inventory to Revenue for the three months ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories	/	Revenue
	=	4.8555	/	273.985
	=	0.02

Be Aware

A lot of business are seasonable. It makes more sense to compare Days Inventory from the same period in the previous year instead of from the previous quarter.

Covenant Logistics Group Days Inventory Related Terms

Thank you for viewing the detailed overview of Covenant Logistics Group's Days Inventory provided by GuruFocus.com. Please click on the following links to see related term pages.

Covenant Logistics Group (Covenant Logistics Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Covenant Logistics Group Inc (NAS:CVLG) » Definitions » Days Inventory

Comparable Companies

Traded in Other Exchanges

CV5:Germany

Address

400 Birmingham Highway, Chattanooga, TN, USA, 37419

Website

https://www.covenantlogistics.com

Covenant Logistics Group Inc together with its wholly-owned subsidiaries offers truckload transportation and freight brokerage services to customers throughout the continental United States. The company's reportable segments include Expedited, Dedicated Services, Managed Freight and Warehousing. Expedited segment provides truckload services to customers with high service freight and delivery standards. Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length. Managed Freight segment includes brokerage services and TMS. Warehousing segment provides day-to-day warehouse management services to customers who have chosen to outsource this function. Majority of revenue is generated from expedited segment.

Executives

Joey B Hogan	officer: Exec Vice President and CFO	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Wesley Miller Welborn	director	6401 LEE HIGHWAY, STE B, CHATTANOOGA TN 37421
Benjamin Sr Carson	director	PO BOX 3599, BATTLE CREEK MI 49016-3599
Samuel F Hough	officer: EVP - Expedited	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Lynn Doster	officer: EVP - Dedicated & Warehousing	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Paul Bunn	officer: President, COO, and Secretary	COVENANT TRANSPORTATION GROUP, INC., 400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Rachel Parker-hatchett	director	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Herbert J Schmidt	director	1950 LAKE RIDGE DRIVE, THE VILLAGES FL 32162
Grant James S Iii	officer: EVP and CFO	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Joey Ballard	officer: EVP, People and Safety	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
D Michael Kramer	director	P O BOX 868, EVANSVILLE IN 47705-0868
George S. Yates	officer: SVP - Brokerage	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Tracy L. Rosser	director	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Bradley A Moline	director	610 BROADWAY, IMPERIAL NE 69033
Robert E Bosworth	director	LIVINGSTON COMPANY & SOUTHPORT CAPITAL, ONE UNION SQUARE, SUITE 300, CHATTANOOGA TN 37402