Parex Resources (TSX:PXT) Inventory Turnover : 28.16 (As of Mar. 2024)

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What is Parex Resources 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. Parex Resources's Cost of Goods Sold for the three months ended in Mar. 2024 was C$245 Mil. Parex Resources's Average Total Inventories for the quarter that ended in Mar. 2024 was C$9 Mil. Parex Resources's Inventory Turnover for the quarter that ended in Mar. 2024 was 28.16.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Parex Resources's Days Inventory for the three months ended in Mar. 2024 was 3.24.

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. Parex Resources's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.02.

Parex Resources Inventory Turnover Historical Data

The historical data trend for Parex Resources'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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Parex Resources Inventory Turnover Chart

Parex Resources Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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483.72

266.06

272.61

230.17

160.74

Parex Resources 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															51.68	63.03	55.48	57.28	28.16

Parex Resources Inventory Turnover Calculation

Parex Resources'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 )
=	964.543	/ (	(6.294	+	5.707)	/	2 )
=	964.543	/	6.0005
=	160.74

Parex Resources'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 )
=	245.455	/ (	(5.707	+	11.726)	/	2 )
=	245.455	/	8.7165
=	28.16

Parex Resources (TSX:PXT) 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.

Parex Resources'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
	=	8.7165	/	245.455	*	365 / 4
	=	3.24

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.

Parex Resources'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 )
	=	8.7165	/	455.783
	=	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.

Parex Resources Inventory Turnover Related Terms

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Parex Resources (TSX:PXT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Parex Resources Inc (TSX:PXT) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

PARXF:USA QPX:Germany

Address

2700 Eighth Avenue Place, West Tower, 585 - 8th Avenue SW, Calgary, AB, CAN, T2P 1G1

Website

https://www.parexresources.com

Parex Resources Inc engages in exploration, development, and production of crude oil. The company brings technology utilized in the Western Canada Sedimentary Basin to South American basins with large oil-in-place potential. Majority of the company's properties are focused in Colombia, where it pays a royalty or tax to the government for its operations. Parex depends on a team of geologists and geophysicists, in partnership with technologies such as 3D seismic surveying, to help exploration efforts. Oil production is sold to a small basket of participants in South and North America.

Executives

Sigmund Cornelius

Director

Parex Resources (TSX:PXT) Headlines

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