Ovation Science (XCNQ:OVAT) Days Inventory : 456.25 (As of Dec. 2023)

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What is Ovation Science Days Inventory?

Days Inventory is also known as Days Sales of Inventory (DSI). Ovation Science's Average Total Inventories for the three months ended in Dec. 2023 was C$0.03 Mil. Ovation Science's Cost of Goods Sold for the three months ended in Dec. 2023 was C$0.01 Mil. Hence, Ovation Science's Days Inventory for the three months ended in Dec. 2023 was 456.25.

The historical rank and industry rank for Ovation Science's Days Inventory or its related term are showing as below:

XCNQ:OVAT' s Days Inventory Range Over the Past 10 Years
Min: 365 Med: 789.31 Max: 4389.86
Current: 938.57

During the past 7 years, Ovation Science's highest Days Inventory was 4389.86. The lowest was 365.00. And the median was 789.31.

XCNQ:OVAT's Days Inventory is ranked worse than
97.84% of 970 companies
in the Drug Manufacturers industry
Industry Median: 158.79 vs XCNQ:OVAT: 938.57

Ovation Science's Days Inventory increased from Dec. 2022 (0.00) to Dec. 2023 (456.25). It might indicate that Ovation Science's sales slowed down.

Inventory Turnover measures how fast the company turns over its inventory within a year. Ovation Science's Inventory Turnover for the three months ended in Dec. 2023 was 0.20.

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. Ovation Science's Inventory-to-Revenue for the three months ended in Dec. 2023 was 1.67.

Ovation Science Days Inventory Historical Data

The historical data trend for Ovation Science's Days Inventory 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.

* Premium members only.

Ovation Science Days Inventory Chart

Ovation Science Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Days Inventory

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1,389.03

900.75

4,389.86

365.00

433.44

Ovation Science Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Days Inventory	Get a 7-Day Free Trial															-	-	1,733.75	3,056.88	456.25

Competitive Comparison of Ovation Science's Days Inventory

For the Drug Manufacturers - Specialty & Generic subindustry, Ovation Science's Days Inventory, along with its competitors' market caps and Days Inventory data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Ovation Science's Days Inventory Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Ovation Science's Days Inventory distribution charts can be found below:

* The bar in red indicates where Ovation Science's Days Inventory falls into.

Ovation Science Days Inventory Calculation

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

Ovation Science's Days Inventory for the fiscal year that ended in Dec. 2023 is calculated as

	Days Inventory (A: Dec. 2023 )
=	Average Total Inventories					/	Cost of Goods Sold	*	Days in Period
=	( (Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (A: Dec. 2023 )	*	Days in Period
=	( (0.002	+	0.017)	/	2 )	/	0.008	*	365
=	0.0095					/	0.008	*	365
=	433.44

Ovation Science's Days Inventory for the quarter that ended in Dec. 2023 is calculated as:

	Days Inventory (Q: Dec. 2023 )
=	Average Total Inventories					/	Cost of Goods Sold	*	Days in Period
=	( (Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
=	( (0.033	+	0.017)	/	2 )	/	0.005	*	365 / 4
=	0.025					/	0.005	*	365 / 4
=	456.25

Ovation Science (XCNQ:OVAT) Days Inventory Explanation

Days Inventory indicates the liquidity of the inventory. Generally, a lower Days Inventory is preferred as it indicates a shorter duration to clear off the inventory. An increase of the ratio may indicate the company's sales slowed. Similar ratios related to Days Inventory are:

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

Ovation Science's Inventory Turnover for the three months ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold	/	Average Total Inventories
	=	0.005	/	0.025
	=	0.20

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.

Ovation Science's Inventory to Revenue for the three months ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories	/	Revenue
	=	0.025	/	0.015
	=	1.67

Be Aware

A lot of business are seasonable. It makes more sense to compare Days Inventory from the same period in the previous year instead of from the previous quarter.

Ovation Science Days Inventory Related Terms

Thank you for viewing the detailed overview of Ovation Science's Days Inventory provided by GuruFocus.com. Please click on the following links to see related term pages.

Ovation Science (XCNQ:OVAT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Ovation Science Inc (XCNQ:OVAT) » Definitions » Days Inventory

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OVATF:USA

Address

625 Howe Street, Suite 1140, Vancouver, BC, CAN, V6C 2T6

Website

https://www.ovationscience.com

Ovation Science Inc is a Canada-based company mainly engaged in the business of sub-licensing rights to use Invisicare, a patented drug delivery technology used in topical and transdermal skin products containing hemp seed oil and cannabis products. The company also holds the right to manufacture, distribute, sell, market, sub-license and promote products formulated with Invisicare and containing cannabis products including cannabinoids, hemp seed oil and any synthetic derivatives of cannabis. It also develops formulas for skin product lines including topical and transdermal creams and lotions containing hemp seed oil and cannabis.

Executives

David K. Ryan

Director

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