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Garmin's total inventories for the quarter that ended in Mar. 2024 was $1,302 Mil. Garmin's average total inventories from the quarter that ended in Dec. 2023 to the quarter that ended in Mar. 2024 was $1,324 Mil.
In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Garmin's Net-Net Working Capital per share for the quarter that ended in Mar. 2024 was $10.31.
Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Garmin's Days Inventory for the three months ended in Mar. 2024 was 208.49.
Inventory Turnover measures how fast the company turns over its inventory within a year. Garmin's Inventory Turnover for the quarter that ended in Mar. 2024 was 0.44.
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. Garmin's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.96.
The historical data trend for Garmin'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.
Garmin Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Total Inventories | Get a 7-Day Free Trial | 752.91 | 762.08 | 1,227.61 | 1,515.05 | 1,345.96 |
Garmin 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 | 1,479.00 | 1,402.23 | 1,439.89 | 1,345.96 | 1,302.23 |
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.
Garmin (NYSE:GRMN) 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.
Garmin'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) | ||
= | (2196.361 | + | 0.75 * 694.69 | + | 0.5 * 1302.23 | - | 1387.783 |
- | 0 | - | 0) | / | 192.079 | ||
= | 10.31 |
2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.
Garmin'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 |
= | 1324.0925 | / | 579.51 | * | 365 / 4 | |
= | 208.49 |
3. Inventory Turnover measures how fast the company turns over its inventory within a year.
Garmin'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 ) |
= | 579.51 | / | 1324.0925 | |
= | 0.44 |
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.
Garmin'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 ) |
= | 1324.0925 | / | 1381.649 | |
= | 0.96 |
* 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.
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.
Thank you for viewing the detailed overview of Garmin's Total Inventories provided by GuruFocus.com. Please click on the following links to see related term pages.
Clifton A Pemble | director, officer: President and CEO | |
Cheng-wei Wang | officer: General Manager - Garmin Corp. | NO. 68, ZHANGSHU 2ND ROAD, XIZHI DISTRICT, NEW TAIPEI CITY F5 221 |
Sean Biddlecombe | officer: General Manager, Garmin Europe | LIBERTY HOUSE, HOUNSDOWN BUSINESS PARK, SOUTHAMPTON X0 SO40 9LR |
Douglas G. Boessen | officer: CFO and Treasurer | 3231 S.E. SIXTH AVENUE, TOPEKA KS 66607 |
Patrick Desbois | officer: Vice President, Operations | 1200 EAST 151ST STREET, OLATHE KS 66062 |
Matthew Munn | officer: VP, Man. Director - Auto OEM | 28001 CABOT DRIVE, SUITE 100, NOVI MI 48377 |
Philip Straub | officer: VP, Man. Director - Aviation | 1200 EAST 151ST STREET, OLATHE KS 66062 |
Jonathan Burrell | 10 percent owner | 6300 WEST 143RD STREET, OVERLAND PARK KS 66223 |
Joseph J Hartnett | director | 425 NORTH MARTINGALE ROAD, SUITE 1000, SCHAUMBURG IL 60173 |
Min H Kao | director, 10 percent owner, officer: Chairman and CEO | 1200 E. 151ST ST., OLATHE KS 66062 |
Catherine A. Lewis | director | 325 NE NORTHGATE CROSSING, LEE'S SUMMIT MO 64064 |
Pao-chang Huang | officer: General Manager - Garmin Corp. | NO. 68, JANGSHU 2ND ROAD, SIJHIH, TAPEI F5 ROC |
Danny J Bartel | officer: Vice President,Worldwide Sales | 1200 EAST 151ST STREET, OLATHE KS 66062 |
Donald Eller | director | |
Andrew R Etkind | officer: General Counsel and Secretary | 1200 E 151 ST ST, OLATHE KS 66062 |
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