TOP Ships (TOP Ships) Inventory Turnover : 32.42 (As of Dec. 2023)

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What is TOP Ships 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. TOP Ships's Cost of Goods Sold for the six months ended in Dec. 2023 was $31.97 Mil. TOP Ships's Average Total Inventories for the quarter that ended in Dec. 2023 was $0.99 Mil. TOP Ships's Inventory Turnover for the quarter that ended in Dec. 2023 was 32.42.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. TOP Ships's Days Inventory for the six months ended in Dec. 2023 was 5.63.

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. TOP Ships's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.02.

TOP Ships Inventory Turnover Historical Data

The historical data trend for TOP Ships'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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TOP Ships Inventory Turnover Chart

TOP Ships Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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63.65

54.78

60.54

52.33

46.70

TOP Ships Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															39.52	15.39	32.66	12.82	32.42

TOP Ships Inventory Turnover Calculation

TOP Ships'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 )
=	45.325	/ (	(1.026	+	0.915)	/	2 )
=	45.325	/	0.9705
=	46.70

TOP Ships's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Jun. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	31.968	/ (	(1.057	+	0.915)	/	2 )
=	31.968	/	0.986
=	32.42

TOP Ships (AMEX:TOPS) 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.

TOP Ships's Days Inventory for the six months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	0.986	/	31.968	*	365 / 2
	=	5.63

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.

TOP Ships's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	0.986	/	41.804
	=	0.02

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.

TOP Ships Inventory Turnover Related Terms

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TOP Ships (TOP Ships) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » TOP Ships Inc (AMEX:TOPS) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

UER0:Germany

Address

1 Vasilisis Sofias and Megalou Alexandrou Street, Maroussi, GRC, 15124

Website

https://www.topships.org

TOP Ships Inc owns tanker vessels throughout the world. The company focuses on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. It generates revenue from the Time Charter agreements.

Executives

Ronin Capital, Llc

10 percent owner

350 N. ORLEANS, SUITE 2N, CHICAGO IL 60654