Shoals Technologies Group (Shoals Technologies Group) Inventory Turnover : 0.97 (As of Mar. 2024)

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What is Shoals Technologies Group 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. Shoals Technologies Group's Cost of Goods Sold for the three months ended in Mar. 2024 was $54.3 Mil. Shoals Technologies Group's Average Total Inventories for the quarter that ended in Mar. 2024 was $56.2 Mil. Shoals Technologies Group's Inventory Turnover for the quarter that ended in Mar. 2024 was 0.97.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Shoals Technologies Group's Days Inventory for the three months ended in Mar. 2024 was 94.34.

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. Shoals Technologies Group's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.62.

Shoals Technologies Group Inventory Turnover Historical Data

The historical data trend for Shoals Technologies Group'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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Shoals Technologies Group Inventory Turnover Chart

Shoals Technologies Group Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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10.68

9.10

4.88

3.52

5.10

Shoals Technologies Group Quarterly Data
	Dec18	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															0.78	0.97	1.86	1.32	0.97

Shoals Technologies Group Inventory Turnover Calculation

Shoals Technologies Group'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 )
=	320.635	/ (	(72.854	+	52.804)	/	2 )
=	320.635	/	62.829
=	5.10

Shoals Technologies Group'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 )
=	54.347	/ (	(52.804	+	59.565)	/	2 )
=	54.347	/	56.1845
=	0.97

Shoals Technologies Group (NAS:SHLS) 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.

Shoals Technologies Group'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
	=	56.1845	/	54.347	*	365 / 4
	=	94.34

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.

Shoals Technologies Group'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 )
	=	56.1845	/	90.807
	=	0.62

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.

Shoals Technologies Group Inventory Turnover Related Terms

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Shoals Technologies Group (Shoals Technologies Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Shoals Technologies Group Inc (NAS:SHLS) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

SHLS:Mexico

Address

1400 Shoals Way, Portland, TN, USA, 37148

Website

https://www.shoals.com

Shoals Technologies Group Inc is a provider of electrical balance of system or EBOS solutions for solar energy projects, primarily in the United States. EBOS encompasses components that are necessary to carry electric current produced by solar panels to an inverter. The products are sold principally to engineering, procurement and construction firms that build solar energy projects. In 2022 the company entered the electric vehicle charging market.

Executives

Jeffery Tolnar	officer: President	C/O SHOALS TECHNOLOGIES GROUP, 1400 SHOALS WAY, PORTLAND TN 37148
Mehgan Peetz	officer: General Counsel	C/O SHOALS TECHNOLOGIES GROUP, 1400 SHOALS WAY, PORTLAND TN 37148
Dominic Bardos	officer: Chief Financial Officer	1801 RUSSELLVILLE RD, BOWLING GREEN KY 42101
Brandon Moss	officer: Chief Executive Officer	C/O SHOALS TECHNOLOGIES GROUP, 1400 SHOALS WAY, PORTLAND TN 37148
Jason R Whitaker	director, officer: Chief Executive Officer	C/O SHOALS TECHNOLOGIES GROUP, 1400 SHOALS WAY, PORTLAND TN 37148
Dean Solon	director	C/O SHOALS TECHNOLOGIES GROUP, 1400 SHOALS WAY, PORTLAND TN 37148
Jeannette M Mills	director	C/O MEDIFAST, INC., 3600 CRONDALL LANE, OWINGS MILLS MD 21117
Robert K. Julian	director	C/O SPORTSMAN'S WAREHOUSE, 7035 SOUTH HIGH TECH DRIVE, MIDVALE UT 84047
Philip A Garton	officer: Chief Financial Officer	C/O SHOALS TECHNOLOGIES GROUP, 1400 SHOALS WAY, PORTLAND TN 37148
White John Joseph Jr	officer: Chief Operating Officer	C/O SHOALS TECHNOLOGIES GROUP, 1400 SHOALS WAY, PORTLAND TN 37148
Bam Partners Trust	10 percent owner	181 BAY STREET, SUITE 300, TORONTO A6 M5J 2T3
Lori S Sundberg	director	400 NORTH FIFTH STREET, PHOENIX AZ 85004
Ty P. Daul	director	77 RIO ROBLES, SAN JOSE CA 95134
Toni Volpe	director	C/O SHOALS TECHNOLOGIES GROUP, 1400 SHOALS WAY, PORTLAND TN 37148
Solon Holdco Iii, Llc	10 percent owner	1400 SHOALS WAY, PORTLAND TN 37148