Iconic Brands (Iconic Brands) Inventory Turnover : 0.75 (As of Mar. 2023)

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What is Iconic Brands 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. Iconic Brands's Cost of Goods Sold for the three months ended in Mar. 2023 was $1.12 Mil. Iconic Brands's Average Total Inventories for the quarter that ended in Mar. 2023 was $1.50 Mil. Iconic Brands's Inventory Turnover for the quarter that ended in Mar. 2023 was 0.75.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Iconic Brands's Days Inventory for the three months ended in Mar. 2023 was 121.37.

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. Iconic Brands's Inventory-to-Revenue for the quarter that ended in Mar. 2023 was 0.74.

Iconic Brands Inventory Turnover Historical Data

The historical data trend for Iconic Brands'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.

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Iconic Brands Inventory Turnover Chart

Iconic Brands Annual Data

Trend

Dec12

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Inventory Turnover

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2.04

1.76

2.46

5.33

8.06

Iconic Brands Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Inventory Turnover	Get a 7-Day Free Trial															1.00	1.63	1.08	0.90	0.75

Iconic Brands Inventory Turnover Calculation

Iconic Brands's Inventory Turnover for the fiscal year that ended in Dec. 2022 is calculated as

	Inventory Turnover (A: Dec. 2022 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2022 )	/ (	(Total Inventories (A: Dec. 2021 )	+	Total Inventories (A: Dec. 2022 ))	/	count )
=	11.213	/ (	(1.228	+	1.555)	/	2 )
=	11.213	/	1.3915
=	8.06

Iconic Brands's Inventory Turnover for the quarter that ended in Mar. 2023 is calculated as

	Inventory Turnover (Q: Mar. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Mar. 2023 )	/ (	(Total Inventories (Q: Dec. 2022 )	+	Total Inventories (Q: Mar. 2023 ))	/	count )
=	1.124	/ (	(1.555	+	1.435)	/	2 )
=	1.124	/	1.495
=	0.75

Iconic Brands (OTCPK:ICNB) 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.

Iconic Brands's Days Inventory for the three months ended in Mar. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2023 )	/	Cost of Goods Sold (Q: Mar. 2023 )	*	Days in Period
	=	1.495	/	1.124	*	365 / 4
	=	121.37

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.

Iconic Brands's Inventory to Revenue for the quarter that ended in Mar. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2023 )	/	Revenue (Q: Mar. 2023 )
	=	1.495	/	2.015
	=	0.74

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.

Iconic Brands Inventory Turnover Related Terms

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Iconic Brands (Iconic Brands) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Alcoholic » Iconic Brands Inc (OTCPK:ICNB) » Definitions » Inventory Turnover

Traded in Other Exchanges

N/A

Address

44 Seabro Avenue, Amityville, NY, USA, 11701

Website

https://www.iconicbrandsusa.com

Iconic Brands Inc is engaged in the development and sale of alcohol and non-alcohol brands that are Better-for-You (BFY) and Better-for-the-Planet. The company's brands include Bellissima by Christie Brinkley, a premium BFY collection of Prosecco, Sparkling Wines, and Still Wines, all certified vegan and made with organic grapes. The Company has two reportable segments: the sale of branded alcoholic beverages segment includes the development and sale of alcohol and non-alcohol brands that are BFY and better-for-the-planet and the specialty packaging segment includes the packaging of low-calorie, ready-to-go products, RTF products, and RTD products in sustainable, flexible and stand-up pouch packaging.

Executives

David R Allen	officer: Chief Financial Officer	C/O CONVERTED ORGANICS INC., 7A COMMERCIAL WHARF WEST, BOSTON MA 02110
Larry Romer	officer: Chief Executive Officer	44 SEABRO AVENUE, AMITYVILLE NY 11701
Roseann Faltings	director, officer: Vice President and Director	44 SEABRO AVENUE, AMITYVILLE NY 11701
Innoaccel Investments Llc	10 percent owner	247 E. DARK HOLLOW RD., PIPERSVILLE PA 18947
John Cosenza	officer: Chief Operating Officer	44 SEABRO AVENUE, AMITYVILLE NY 11701
Thomas A. Belton	10 percent owner	247 E. DARK HOLLOW RD., PIPERSVILLE PA 18947
Richard J Decicco	director, 10 percent owner, officer: CEO, Director	44 SEABRO AVENUE, AMITYVILLE NY 11701
William S. Blacker	officer: Chief Financial Officer, other: V.P of Finance & Adminstration	C/O HARBREW IMPORTS LTD. CORP., 102 BUFFALO AVENUE, FREEPORT NY 11520
Edd Cockerill	director, officer: President, CEO & CFO	1921 DENVER WEST COURT, #2022, GOLDEN CO 80401