National Storage REIT (ASX:NSR) Total Inventories : A$1.8 Mil (As of Dec. 2023)

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What is National Storage REIT Total Inventories?

National Storage REIT's total inventories for the quarter that ended in Dec. 2023 was A$1.8 Mil. National Storage REIT's average total inventories from the quarter that ended in Jun. 2023 to the quarter that ended in Dec. 2023 was A$2.0 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. National Storage REIT's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was A$-3.29.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. National Storage REIT's Days Inventory for the six months ended in Dec. 2023 was 16.83.

Inventory Turnover measures how fast the company turns over its inventory within a year. National Storage REIT's Inventory Turnover for the quarter that ended in Dec. 2023 was 10.84.

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. National Storage REIT's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.01.

National Storage REIT Total Inventories Historical Data

The historical data trend for National Storage REIT's Total Inventories 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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National Storage REIT Total Inventories Chart

National Storage REIT Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Total Inventories

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0.68

0.83

1.32

1.85

2.11

National Storage REIT Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Total Inventories	Get a 7-Day Free Trial															1.95	1.85	2.11	2.11	1.79

National Storage REIT Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

National Storage REIT (ASX:NSR) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

National Storage REIT's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(49.851	+	0.75 * 7.397	+	0.5 * 1.794	-	1408.323
-	0	-	3125.548)	/	1361.13
=	-3.29

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

National Storage REIT's Days Inventory for the six months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	1.9505	/	21.15	*	365 / 2
	=	16.83

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

National Storage REIT's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	21.15	/	1.9505
	=	10.84

4. 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.

National Storage REIT's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	1.9505	/	164.029
	=	0.01

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

National Storage REIT Total Inventories Related Terms

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National Storage REIT (ASX:NSR) Business Description

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NTSGF:USA

Address

1 Eagle Street, Level 16, Brisbane, QLD, AUS, 4000

Website

https://www.nationalstorageinvest.com.au

National Storage REIT is the largest self-storage provider in Australia and New Zealand. Most of its properties are owned and operated, but it also has long-term leaseholds. Most NSR centres are in city fringe, suburban and regional areas. The industry is fragmented, mostly comprising single site owners, while the largest three players, NSR, privately owned Kennards, and the listed Abacus Storage King operate over a third of the market. NSR plans to continue acquiring and developing self-storage centres, consolidating the fragmented industry, as well generating organic growth via dynamic pricing and occupancy management. However, its large rivals are competing via similar strategies.