ADNOC Drilling Company PJSC (ADX:ADNOCDRILL) Inventory Turnover : 2.44 (As of Mar. 2024)

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What is ADNOC Drilling Company PJSC 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. ADNOC Drilling Company PJSC's Cost of Goods Sold for the three months ended in Mar. 2024 was د.إ1,901 Mil. ADNOC Drilling Company PJSC's Average Total Inventories for the quarter that ended in Mar. 2024 was د.إ778 Mil. ADNOC Drilling Company PJSC's Inventory Turnover for the quarter that ended in Mar. 2024 was 2.44.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. ADNOC Drilling Company PJSC's Days Inventory for the three months ended in Mar. 2024 was 37.32.

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. ADNOC Drilling Company PJSC's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.24.

ADNOC Drilling Company PJSC Inventory Turnover Historical Data

The historical data trend for ADNOC Drilling Company PJSC'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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ADNOC Drilling Company PJSC Inventory Turnover Chart

ADNOC Drilling Company PJSC Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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12.13

8.58

7.87

10.54

10.29

ADNOC Drilling Company PJSC Quarterly Data
	Dec18	Dec19	Jun20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Inventory Turnover	Get a 7-Day Free Trial												2.62	2.21	2.50	2.23	2.44

ADNOC Drilling Company PJSC Inventory Turnover Calculation

ADNOC Drilling Company PJSC'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 )
=	6790.317	/ (	(563.319	+	757.024)	/	2 )
=	6790.317	/	660.1715
=	10.29

ADNOC Drilling Company PJSC'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 )
=	1901.042	/ (	(757.024	+	798.139)	/	2 )
=	1901.042	/	777.5815
=	2.44

ADNOC Drilling Company PJSC (ADX:ADNOCDRILL) 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.

ADNOC Drilling Company PJSC'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
	=	777.5815	/	1901.042	*	365 / 4
	=	37.32

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.

ADNOC Drilling Company PJSC'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 )
	=	777.5815	/	3253.74
	=	0.24

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.

ADNOC Drilling Company PJSC Inventory Turnover Related Terms

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ADNOC Drilling Company PJSC (ADX:ADNOCDRILL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » ADNOC Drilling Company PJSC (ADX:ADNOCDRILL) » Definitions » Inventory Turnover

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Traded in Other Exchanges

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Address

P.O Box 4017, Abu Dhabi, ARE

Website

https://www.adnoc.ae

ADNOC Drilling Company PJSC is engaged in providing drilling services and supporting marine equipment, and the hiring out of onshore and offshore drilling rigs on behalf of related parties involved in onshore and offshore oil and gas exploration. The operating business segments are Onshore, Offshore Jack-up, Offshore Island, and OilField Service, with maximum revenue from Onshore segment.

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