Covalon Technologies (Covalon Technologies) Inventory Turnover : 0.53 (As of Mar. 2024)

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What is Covalon Technologies 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. Covalon Technologies's Cost of Goods Sold for the three months ended in Mar. 2024 was $2.29 Mil. Covalon Technologies's Average Total Inventories for the quarter that ended in Mar. 2024 was $4.36 Mil. Covalon Technologies's Inventory Turnover for the quarter that ended in Mar. 2024 was 0.53.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Covalon Technologies's Days Inventory for the three months ended in Mar. 2024 was 173.31.

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. Covalon Technologies's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.70.

Covalon Technologies Inventory Turnover Historical Data

The historical data trend for Covalon Technologies'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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Covalon Technologies Inventory Turnover Chart

Covalon Technologies Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Inventory Turnover

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1.71

1.12

1.70

2.15

2.23

Covalon Technologies Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Inventory Turnover	Get a 7-Day Free Trial															0.45	0.37	0.59	0.30	0.53

Covalon Technologies Inventory Turnover Calculation

Covalon Technologies's Inventory Turnover for the fiscal year that ended in Sep. 2023 is calculated as

	Inventory Turnover (A: Sep. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Sep. 2023 )	/ (	(Total Inventories (A: Sep. 2022 )	+	Total Inventories (A: Sep. 2023 ))	/	count )
=	9.041	/ (	(3.723	+	4.394)	/	2 )
=	9.041	/	4.0585
=	2.23

Covalon Technologies'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 )
=	2.293	/ (	(4.509	+	4.201)	/	2 )
=	2.293	/	4.355
=	0.53

Covalon Technologies (OTCPK:CVALF) 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.

Covalon Technologies'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
	=	4.355	/	2.293	*	365 / 4
	=	173.31

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.

Covalon Technologies'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 )
	=	4.355	/	6.216
	=	0.70

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.

Covalon Technologies Inventory Turnover Related Terms

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Covalon Technologies (Covalon Technologies) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Covalon Technologies Ltd (OTCPK:CVALF) » Definitions » Inventory Turnover

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COV:Canada

Address

1660 Tech Avenue, Unit 5, Mississauga, ON, CAN, L4W 5S7

Website

https://www.covalon.com

Covalon Technologies Ltd is principally engaged in the business of developing, licensing, and selling medical technologies. The company develops advanced wound care line which is designed for the treatment of a wide range of wounds; and infection prevention products such as MediClear PreOp which is a breathable, transparent, self-adhesive silicone barrier film that conforms to the contours of the body. It also develops perioperative care products. The company generates its revenue through development contracts, licensing agreements, and distribution contracts, and sales.