Empire Petroleum (Empire Petroleum) Inventory Turnover : 6.01 (As of Mar. 2024)

View and export this data going back to 2022. Start your Free Trial

What is Empire Petroleum 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. Empire Petroleum's Cost of Goods Sold for the three months ended in Mar. 2024 was $9.71 Mil. Empire Petroleum's Average Total Inventories for the quarter that ended in Mar. 2024 was $1.62 Mil. Empire Petroleum's Inventory Turnover for the quarter that ended in Mar. 2024 was 6.01.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Empire Petroleum's Days Inventory for the three months ended in Mar. 2024 was 15.18.

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. Empire Petroleum's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.16.

Empire Petroleum Inventory Turnover Historical Data

The historical data trend for Empire Petroleum'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.

* Premium members only.

Empire Petroleum Inventory Turnover Chart

Empire Petroleum Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

Get a 7-Day Free Trial

7.84

6.88

22.80

20.48

21.24

Empire Petroleum 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															3.85	4.49	5.52	6.51	6.01

Empire Petroleum Inventory Turnover Calculation

Empire Petroleum'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 )
=	34.766	/ (	(1.84	+	1.433)	/	2 )
=	34.766	/	1.6365
=	21.24

Empire Petroleum'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 )
=	9.711	/ (	(1.433	+	1.797)	/	2 )
=	9.711	/	1.615
=	6.01

Empire Petroleum (AMEX:EP) 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.

Empire Petroleum'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
	=	1.615	/	9.711	*	365 / 4
	=	15.18

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.

Empire Petroleum'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 )
	=	1.615	/	10.245
	=	0.16

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.

Empire Petroleum Inventory Turnover Related Terms

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

Empire Petroleum (Empire Petroleum) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Empire Petroleum Corp (AMEX:EP) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

2200 South Utica Place, Suite 150, Tulsa, OK, USA, 74114

Website

http://www.empirepetroleumcorp.com

Empire Petroleum Corp is engaged in the exploration and development of oil and natural gas in the United States. All of the company's producing properties are located in Louisiana, Texas, North Dakota, and New Mexico. It generates revenue from Oil and Gas sales.

Executives

Marchive Benjamin J. Ii	director	1021 MAIN STREET, SUITE 2626, HOUSTON TX 77002-6516
Energy Evolution Master Fund, Ltd.	10 percent owner	25025 I-45 NORTH, SUITE 420, THE WOODLANDS TX 77380
J Kevin Vann	officer: VP, Finance/Strategic Planning	ONE WILLIAMS CENTER, SUITE 3800, TULSA OK 74172
Phil E Mulacek	10 percent owner	25025 I 45 NORTH, SUITE 420, THE WOODLANDS TX 77380
Mason H. Matschke	director	25025 I-45 NORTH, SUITE 420, THE WOODLANDS TX 77380
Faulkner Stephen L Jr	officer: Controller and Chief Acctg Ofc	3500 ONE WILLIAMS CENTER, TULSA OK 74172
Eugene J Sweeney	officer: Chief Operating Officer	151 W BURTON PL, CHICAGO IL 60610
Michael R. Morrisett	10 percent owner	3803 S. TRENTON AVENUE, TULSA OK 74105-3324
Thomas W. Pritchard	officer: Chief Executive Officer	15798 SPYGLASS HILL LOOP, GAINESVILLE VA 20155
Andrew Lloyd Lewis	director	2200 S. UTICA PLACE, SUITE 150, TULSA OK 74114
Angela M Baker	officer: Chief Accounting Officer	2200 S. UTICA PLACE, SUITE 150, TULSA OK 74114
Puckett Land Co	10 percent owner	5460 S. QUEBEC ST., SUITE 250, GREENWOOD VILLAGE CO 80111
Tony Kamin	director, 10 percent owner	619 BLUFF STREET, GLENCOE IL 60022
Gary C Adams	10 percent owner	1437 S. BOULDER AVENUE, SUITE 930, TULSA OK 74119
Empire Petroleum Holdings, Llc	10 percent owner	3803 S. TRENTON AVENUE, TULSA OK 74105-3324

Empire Petroleum (Empire Petroleum) Headlines

From GuruFocus

Registration is Open for EnerCom Denver - The Energy Investment Conference, August 7-10, 2022 in Denver, Colorado

By PRNewswire PRNewswire • 05-03-2022

Empire Petroleum Corp (EP) Reports Mixed Q3 2023 Results Amid Strategic Initiatives

By GuruFocus Research • 11-13-2023