Texas Pacific Land (Texas Pacific Land) Inventory Turnover : 0.10 (As of Dec. 2023)

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What is Texas Pacific Land 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. Texas Pacific Land's Cost of Goods Sold for the three months ended in Dec. 2023 was $12.9 Mil. Texas Pacific Land's Average Total Inventories for the quarter that ended in Dec. 2023 was $130.0 Mil. Texas Pacific Land's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.10.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Texas Pacific Land's Days Inventory for the three months ended in Dec. 2023 was 916.48.

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. Texas Pacific Land's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.78.

Texas Pacific Land Inventory Turnover Historical Data

The historical data trend for Texas Pacific Land'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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Texas Pacific Land Inventory Turnover Chart

Texas Pacific Land Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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0.51

0.30

0.27

0.30

0.44

Texas Pacific Land Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															0.07	0.08	0.12	0.09	0.10

Texas Pacific Land Inventory Turnover Calculation

Texas Pacific Land'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 )
=	48.323	/ (	(109.704	+	0)	/	1 )
=	48.323	/	109.704
=	0.44

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

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	12.946	/ (	(130.024	+	0)	/	1 )
=	12.946	/	130.024
=	0.10

Texas Pacific Land (NYSE:TPL) 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.

Texas Pacific Land'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
	=	130.024	/	12.946	*	365 / 4
	=	916.48

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.

Texas Pacific Land'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 )
	=	130.024	/	166.657
	=	0.78

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.

Texas Pacific Land Inventory Turnover Related Terms

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Texas Pacific Land (Texas Pacific Land) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Texas Pacific Land Corp (NYSE:TPL) » Definitions » Inventory Turnover

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Traded in Other Exchanges

9WY:Germany 9WY:Germany

Address

1700 Pacific Avenue, Suite 2900, Dallas, TX, USA, 75201

Website

https://www.texaspacific.com

Texas Pacific Land Corp is mainly engaged in sales and leases of land owned, retaining oil and gas royalties, and the overall management of the land owned. It operates its business in two segments including Land and Resource Management and Water Service and Operations. The Land and Resource Management segment focuses on managing its oil and gas royalty interest and surface acres located in 19 different counties. The Water Service and Operations segment includes Water Sourcing, Produced Water Gathering / Treatment / Recycling, Infrastructure Development, Produced Water Disposal, Water Tracking / Analytics / Well Testing.

Executives

Murray Stahl	director	C/O HORIZON KINETICS LLC, 470 PARK AVE S 8TH FL S, NEW YORK NY 10016
Horizon Kinetics Asset Management Llc	10 percent owner	470 PARK AVENUE SOUTH, 4TH FLOOR SOUTH, NEW YORK NY 10016
Rhys J Best	director	MRC GLOBAL INC., 2 HOUSTON CENTER, 909 FANNIN, SUITE 3100, HOUSTON TX 77010
Donald G Cook	director	100 FIRST STAMFORD PLACE, STAMFORD CT 06902
Micheal W. Dobbs	officer: Senior VP, Secretory + GC	1700 PACIFIC AVENUE, SUITE 2900, DALLAS TX 75201
Karl F Kurz	director	DEVON ENERGY CORP., 333 W. SHERIDAN AVE, OKLAHOMA CITY OK 73102
Stephanie Buffington	officer: Chief Accounting Officer
Dana F. Mcginnis	director	112 E PECAN STREET, SUITE 1425, SAN ANTONIO TX 78025
Barbara J Duganier	director	6 CARLTON PARK COURT, HOUSTON TX 77024-7316
Norris John R Iii	director	3811 TURTLE CREEK BLVD #400, C/O CALOWAY NORRIS & BURDETTE, DALLAS TX 75219
Donna E Epps	director	11465 JOHNS CREEK PARKWAY, SUITE400, JOHNS CREEK GA 30097
Eric L Oliver	director	303 W WALL, SUITE 1700, MIDLAND TX 79701
Chris Steddum	officer: Chief Financial Officer	1700 PACIFIC AVENUE, SUITE 2900, DALLAS TX 75201
Tyler Glover	director, officer: President & CEO	1700 PACIFIC AVENUE, SUITE 2770, C/O TEXAS PACIFIC LAND TRUST, DALLAS TX 75201
David E. Barry	director	C/O SIDRA REAL ESTATE, INC., TWO RIVERWAY, SUITE 1010, HOUSTON TX 77056