Corteva (Corteva) Total Inventories : $6,899 Mil (As of Dec. 2023)

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What is Corteva Total Inventories?

Corteva's total inventories for the quarter that ended in Dec. 2023 was $6,899 Mil. Corteva's average total inventories from the quarter that ended in Sep. 2023 to the quarter that ended in Dec. 2023 was $6,610 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Corteva's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was $-12.15.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Corteva's Days Inventory for the three months ended in Dec. 2023 was 254.91.

Inventory Turnover measures how fast the company turns over its inventory within a year. Corteva's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.36.

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. Corteva's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 1.78.

Corteva Total Inventories Historical Data

The historical data trend for Corteva'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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Corteva Total Inventories Chart

Corteva Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

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5,032.00

4,882.00

5,180.00

6,811.00

6,899.00

Corteva Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Total Inventories	Get a 7-Day Free Trial															6,811.00	6,585.00	5,628.00	6,320.00	6,899.00

Corteva 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.

Corteva (NYSE:CTVA) 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.

Corteva's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(2742	+	0.75 * 4329	+	0.5 * 6899	-	17717
-	0	-	242)	/	701.26
=	-12.15

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

Corteva's Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	6609.5	/	2366	*	365 / 4
	=	254.91

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

Corteva's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	2366	/	6609.5
	=	0.36

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.

Corteva's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	6609.5	/	3707
	=	1.78

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.

Corteva Total Inventories Related Terms

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Corteva (Corteva) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Agriculture » Corteva Inc (NYSE:CTVA) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

CTVA:Mexico 2X0:Germany 2X0:Germany 2X0:Germany C1TV34:Brazil CTVA:Austria

Address

974 Centre Road, Wilmington, DE, USA, 19805

Website

https://www.corteva.com

Corteva is an agriculture pure play that was formed in 2019 when it was spun off from DowDuPont. The company is a leader in the development of new seed and crop chemicals products. Seeds and crop protection chemicals each make up around half of profits. Although Corteva operates globally, around half of revenue comes from North America.

Executives

Samuel R Eathington	officer: SVP, Chief Technology Officer	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Robert D. King	officer: EVP, Crop Protection Business	C/O CORTEVA, INC., 9330 ZIONSVILLE ROAD, INDIANAPOLIS IN 46268
Timothy P Glenn	officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Fuerer Cornel B	director, officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
David J Anderson	officer: EVP, Chief Financial Officer	C/O HONEYWELL INTERNATIONAL INC, 101 COLUMBIA ROAD, MORRISTOWN NJ 09762
Charles V. Magro	director, officer: CEO	C/O CORTEVA, INC., 974 CENTRE ROAD, CRP 735, WILMINGTON DE 19805
Audrey Grimm	officer: See Remarks	C/O CORTEVA, INC., 9330 ZIONSVILLE ROAD, INDIANAPOLIS IN 46268
Klaus A Engel	director	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Meghan Cassidy	officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Brian Titus	officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Rajan Gajaria	officer: See Remarks	C/O CORTEVA, INC., 974 CENTRE ROAD, BLDG. 735, WILMINGTON DE 19805
Janet Plaut Giesselman	director	25435 HARVARD RD., BEACHWOOD OH 44122
Kerry J Preete	director	800 NORTH LINDBERGH BLVD., ST. LOUIS MO 63167
David C Everitt	director	DEERE & COMPANY, ONE JOHN DEERE PLACE, MOLINE IL 61265
Karen H. Grimes	director	TOLL BROTHERS, INC., 1140 VIRGINIA DRIVE, FORT WASHINGTON PA 19034