Covenant Logistics Group (Covenant Logistics Group) Total Inventories : $5 Mil (As of Mar. 2024)

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What is Covenant Logistics Group Total Inventories?

Covenant Logistics Group's total inventories for the quarter that ended in Mar. 2024 was $5 Mil. Covenant Logistics Group's average total inventories from the quarter that ended in Dec. 2023 to the quarter that ended in Mar. 2024 was $5 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Covenant Logistics Group's Net-Net Working Capital per share for the quarter that ended in Mar. 2024 was $-32.23.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Covenant Logistics Group's Days Inventory for the three months ended in Mar. 2024 was 1.96.

Inventory Turnover measures how fast the company turns over its inventory within a year. Covenant Logistics Group's Inventory Turnover for the quarter that ended in Mar. 2024 was 46.67.

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. Covenant Logistics Group's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.02.

Covenant Logistics Group Total Inventories Historical Data

The historical data trend for Covenant Logistics Group'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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Covenant Logistics Group Total Inventories Chart

Covenant Logistics Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

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4.21

3.12

3.32

3.52

4.85

Covenant Logistics Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Total Inventories	Get a 7-Day Free Trial															3.31	4.13	4.86	4.85	5.13

Covenant Logistics Group 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.

Covenant Logistics Group (NAS:CVLG) 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.

Covenant Logistics Group's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2024 is

	Net-Net Working Capital Per Share (Q: Mar. 2024 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(2.952	+	0.75 * 143.975	+	0.5 * 5.127	-	536.184
-	0	-	0)	/	13.1144
=	-32.23

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

Covenant Logistics 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
	=	4.9875	/	232.742	*	365 / 4
	=	1.96

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

Covenant Logistics Group's Inventory Turnover for the quarter that ended in Mar. 2024 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Mar. 2024 )	/	Average Total Inventories (Q: Mar. 2024 )
	=	232.742	/	4.9875
	=	46.67

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.

Covenant Logistics 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 )
	=	4.9875	/	278.763
	=	0.02

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.

Covenant Logistics Group Total Inventories Related Terms

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Covenant Logistics Group (Covenant Logistics Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Covenant Logistics Group Inc (NAS:CVLG) » Definitions » Total Inventories

Comparable Companies

Traded in Other Exchanges

CV5:Germany

Address

400 Birmingham Highway, Chattanooga, TN, USA, 37419

Website

https://www.covenantlogistics.com

Covenant Logistics Group Inc together with its wholly-owned subsidiaries offers truckload transportation and freight brokerage services to customers throughout the continental United States. The company's reportable segments include Expedited, Dedicated Services, Managed Freight and Warehousing. Expedited segment provides truckload services to customers with high service freight and delivery standards. Dedicated segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length. Managed Freight segment includes brokerage services and TMS. Warehousing segment provides day-to-day warehouse management services to customers who have chosen to outsource this function. Majority of revenue is generated from expedited segment.

Executives

Joey B Hogan	officer: Exec Vice President and CFO	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Wesley Miller Welborn	director	6401 LEE HIGHWAY, STE B, CHATTANOOGA TN 37421
Benjamin Sr Carson	director	PO BOX 3599, BATTLE CREEK MI 49016-3599
Samuel F Hough	officer: EVP - Expedited	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Lynn Doster	officer: EVP - Dedicated & Warehousing	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Paul Bunn	officer: President, COO, and Secretary	COVENANT TRANSPORTATION GROUP, INC., 400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Rachel Parker-hatchett	director	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Herbert J Schmidt	director	1950 LAKE RIDGE DRIVE, THE VILLAGES FL 32162
Grant James S Iii	officer: EVP and CFO	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Joey Ballard	officer: EVP, People and Safety	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
D Michael Kramer	director	P O BOX 868, EVANSVILLE IN 47705-0868
George S. Yates	officer: SVP - Brokerage	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Tracy L. Rosser	director	400 BIRMINGHAM HIGHWAY, CHATTANOOGA TN 37419
Bradley A Moline	director	610 BROADWAY, IMPERIAL NE 69033
Robert E Bosworth	director	LIVINGSTON COMPANY & SOUTHPORT CAPITAL, ONE UNION SQUARE, SUITE 300, CHATTANOOGA TN 37402