Equinox Gold (TSX:EQX) Inventory Turnover : 0.56 (As of Mar. 2024)

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What is Equinox Gold 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. Equinox Gold's Cost of Goods Sold for the three months ended in Mar. 2024 was C$311 Mil. Equinox Gold's Average Total Inventories for the quarter that ended in Mar. 2024 was C$557 Mil. Equinox Gold's Inventory Turnover for the quarter that ended in Mar. 2024 was 0.56.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Equinox Gold's Days Inventory for the three months ended in Mar. 2024 was 163.27.

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. Equinox Gold's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 1.71.

Equinox Gold Inventory Turnover Historical Data

The historical data trend for Equinox Gold'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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Equinox Gold Inventory Turnover Chart

Equinox Gold Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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4.39

4.85

4.23

3.85

2.88

Equinox Gold 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															0.77	0.74	0.77	0.68	0.56

Equinox Gold Inventory Turnover Calculation

Equinox Gold'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 )
=	1315.624	/ (	(360.145	+	552.746)	/	2 )
=	1315.624	/	456.4455
=	2.88

Equinox Gold'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 )
=	311.268	/ (	(552.746	+	561.14)	/	2 )
=	311.268	/	556.943
=	0.56

Equinox Gold (TSX:EQX) 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.

Equinox Gold'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
	=	556.943	/	311.268	*	365 / 4
	=	163.27

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.

Equinox Gold'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 )
	=	556.943	/	326.648
	=	1.71

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.

Equinox Gold Inventory Turnover Related Terms

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Equinox Gold (TSX:EQX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Equinox Gold Corp (TSX:EQX) » Definitions » Inventory Turnover

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Traded in Other Exchanges

EQX:USA 1LRC:Germany

Address

700 West Pender Street, Suite 1501, Vancouver, BC, CAN, V6C 1G8

Website

https://www.equinoxgold.com

Equinox Gold Corp is a mining company engaged in the operation, acquisition, exploration and development of mineral properties, with a focus on gold. Equinox Gold has around seven operating gold mines and a clear plan to increase production by advancing a pipeline of growth projects.

Executives

Maryse Belanger	Director
Kelly Grant Boychuk	Senior Officer
Peter Jeremie Hardie	Senior Officer
Robert Scott Heffernan	Senior Officer
Doug Reddy	Senior Officer
Gordana Vicentijevic	Senior Officer