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Millennium Group International Holdings (Millennium Group International Holdings) Days Inventory : 66.55 (As of Jun. 2023)


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What is Millennium Group International Holdings Days Inventory?

Days Inventory is also known as Days Sales of Inventory (DSI). Millennium Group International Holdings's Average Total Inventories for the six months ended in Jun. 2023 was $5.89 Mil. Millennium Group International Holdings's Cost of Goods Sold for the six months ended in Jun. 2023 was $16.16 Mil. Hence, Millennium Group International Holdings's Days Inventory for the six months ended in Jun. 2023 was 66.55.

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

MGIH' s Days Inventory Range Over the Past 10 Years
Min: 71.29   Med: 74.96   Max: 76.82
Current: 71.94

During the past 3 years, Millennium Group International Holdings's highest Days Inventory was 76.82. The lowest was 71.29. And the median was 74.96.

MGIH's Days Inventory is ranked better than
56.68% of 367 companies
in the Packaging & Containers industry
Industry Median: 77.89 vs MGIH: 71.94

Millennium Group International Holdings's Days Inventory declined from Jun. 2022 (77.30) to Jun. 2023 (66.55).

Warning Sign:

If a company builds up inventory, it may mean it is having difficulties selling its goods.

Inventory Turnover measures how fast the company turns over its inventory within a year. Millennium Group International Holdings's Inventory Turnover for the six months ended in Jun. 2023 was 2.74.

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. Millennium Group International Holdings's Inventory-to-Revenue for the six months ended in Jun. 2023 was 0.31.

Millennium Group International Holdings Days Inventory Historical Data

The historical data trend for Millennium Group International Holdings'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.

Millennium Group International Holdings Days Inventory Chart

Millennium Group International Holdings Annual Data
Trend Jun21 Jun22 Jun23
Days Inventory
74.96 71.29 76.82

Millennium Group International Holdings Semi-Annual Data
Jun21 Dec21 Jun22 Dec22 Jun23
Days Inventory - 66.08 77.30 71.83 66.55

Competitive Comparison of Millennium Group International Holdings's Days Inventory

For the Packaging & Containers subindustry, Millennium Group International Holdings'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.

Millennium Group International Holdings's Days Inventory Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Millennium Group International Holdings's Days Inventory distribution charts can be found below:

* The bar in red indicates where Millennium Group International Holdings's Days Inventory falls into.


Millennium Group International Holdings Days Inventory Calculation

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

Millennium Group International Holdings's Days Inventory for the fiscal year that ended in Jun. 2023 is calculated as

Days Inventory (A: Jun. 2023 )
=Average Total Inventories / Cost of Goods Sold*Days in Period
=( (Total Inventories (A: Jun. 2022 ) + Total Inventories (A: Jun. 2023 )) / count ) / Cost of Goods Sold (A: Jun. 2023 )*Days in Period
=( (9.82 + 5.559) / 2 ) / 36.535*365
=7.6895 / 36.535*365
=76.82

Millennium Group International Holdings's Days Inventory for the quarter that ended in Jun. 2023 is calculated as:

Days Inventory (Q: Jun. 2023 )
=Average Total Inventories / Cost of Goods Sold*Days in Period
=( (Total Inventories (Q: Dec. 2022 ) + Total Inventories (Q: Jun. 2023 )) / count ) / Cost of Goods Sold (Q: Jun. 2023 )*Days in Period
=( (6.223 + 5.559) / 2 ) / 16.155*365 / 2
=5.891 / 16.155*365 / 2
=66.55

* 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.

Millennium Group International Holdings  (NAS:MGIH) 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.

Millennium Group International Holdings's Inventory Turnover for the six months ended in Jun. 2023 is calculated as

Inventory Turnover=Cost of Goods Sold / Average Total Inventories
=16.155 / 5.891
=2.74

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.

Millennium Group International Holdings's Inventory to Revenue for the six months ended in Jun. 2023 is calculated as

Inventory-to-Revenue=Average Total Inventories / Revenue
=5.891 / 19.27
=0.31

* 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.

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.

Millennium Group International Holdings Days Inventory Related Terms

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

Millennium Group International Holdings (Millennium Group International Holdings) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » Millennium Group International Holdings Ltd (NAS:MGIH) » Definitions » Days Inventory
Comparable Companies
DSS OCTO YHGJ BALL AVY PKG AMCR IP CCK WRK SZSE:002812 DUB:SK3 XSWX:SIGN TSX:CCL.A GPK BERY SON REYN LSE:SMDS SLGN
Traded in Other Exchanges
N/A
Address
Rm 2722, 27/F, No.1 Hung To Road, Kwun Tong, Kowloon, Hong Kong, HKG, 999077
Website
https://www.millennium-gp.com
Millennium Group International Holdings Ltd is a paper-based packaging solutions supplier. It offers paper-based inner and outer packaging products which can be broadly categorized into packaging products and corrugated products.

Millennium Group International Holdings (Millennium Group International Holdings) Headlines

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