Olympic Steel (Olympic Steel) Inventory Turnover : 1.04 (As of Mar. 2024)

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What is Olympic Steel 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. Olympic Steel's Cost of Goods Sold for the three months ended in Mar. 2024 was $408 Mil. Olympic Steel's Average Total Inventories for the quarter that ended in Mar. 2024 was $392 Mil. Olympic Steel's Inventory Turnover for the quarter that ended in Mar. 2024 was 1.04.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Olympic Steel's Days Inventory for the three months ended in Mar. 2024 was 87.78.

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. Olympic Steel's Inventory-to-Revenue for the quarter that ended in Mar. 2024 was 0.74.

Olympic Steel Inventory Turnover Historical Data

The historical data trend for Olympic Steel'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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Olympic Steel Inventory Turnover Chart

Olympic Steel Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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3.99

3.81

4.97

4.60

4.19

Olympic Steel 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															1.10	1.09	1.04	0.96	1.04

Olympic Steel Inventory Turnover Calculation

Olympic Steel'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 )
=	1684.663	/ (	(416.931	+	386.535)	/	2 )
=	1684.663	/	401.733
=	4.19

Olympic Steel'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 )
=	407.538	/ (	(386.535	+	397.567)	/	2 )
=	407.538	/	392.051
=	1.04

Olympic Steel (NAS:ZEUS) 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.

Olympic Steel'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
	=	392.051	/	407.538	*	365 / 4
	=	87.78

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.

Olympic Steel'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 )
	=	392.051	/	526.642
	=	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.

Olympic Steel Inventory Turnover Related Terms

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Olympic Steel (Olympic Steel) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Olympic Steel Inc (NAS:ZEUS) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

OYS:Germany OYS:Germany

Address

22901 Millcreek Boulevard, Suite 650, Highland Hills, OH, USA, 44122

Website

https://www.olysteel.com

Olympic Steel Inc provides metals processing and distribution services in the United States. The company operates in three reportable segments; specialty metals flat products, carbon flat products, and tubular and pipe products. It specializes in the processing and distribution of large volumes of carbon, aluminum, and stainless steel flat-rolled sheet, coils, plates, bars, and fabricated parts. The group serves various industries such as industrial machinery and equipment manufacturers, automobile manufacturers and suppliers, and transportation equipment manufacturers. The company generates majority of the revenue from carbon flat products.

Executives

Dirk A Kempthorne	director	1735 MARKET STREET, PHILADELPHIA PA 19103
Michael D Siegal	director, 10 percent owner, officer: Chairman of the Board and CEO	5080 RICHMOND ROAD, CLEVELAND OH 44146-1392
David A Wolfort	director, officer: President and COO
Richard T Marabito	officer: Chief Financial Officer	5096 RICHMOND ROAD, BEDFORD HEIGHTS OH 44146
Andrew S Greiff	officer: EVP and COO	22901 MILLCREEK BLVD., SUITE 650, HIGHLAND HILLS OH 44122
Richard P Stovsky	director	350 CAMINO DE LA REINA, SUITE 100, SAN DIEGO CA 92108
Arthur F Anton	director	29500 SOLON ROAD, SOLON OH 44139
Richard A Manson	officer: Vice President and Treasurer	5096 RICHMOND ROAD, BEDFORD HEIGHTS OH 44146
Lisa K Christen	officer: See Remarks	C/O/ OLYMPIC STEEL, INC., 22901 MILLCREED BLVD., SUITE 650, HIGHLAND HILLS OH 44122
Vanessa Whiting	director	C/O OLYMPIC STEEL, INC., 22901 MILLCREEK BLVD., SUITE 650, HIGHLAND HILLS OH 44122
Della Ratta Ralph M Jr	director	1690 CHAGRIN RIVER ROAD, GATES MILLS OH 44040
Idalene Fay Kesner	director	101 OAKLEY STREET, EVANSVILLE IN 47710
Michael G Rippey	director	C/O OLYMPIC STEEL, INC., 22901 MILLCREEK BLVD., HIGHLAND HILLS OH 44122
Howard Goldstein	director	5096 RICHMOND RD, BEDFORD HEIGHTS OH 44146
Mcneeley Donald R. Jr.	director, officer: Subsidiary Officer	5096 RICHMOND ROAD, BEDFORD HEIGHTS OH 44146