Tongxin International (Tongxin International) Total Inventories : $27.43 Mil (As of Dec. 2010)

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What is Tongxin International Total Inventories?

Tongxin International's total inventories for the quarter that ended in Dec. 2010 was $27.43 Mil. Tongxin International's average total inventories from the quarter that ended in Dec. 2009 to the quarter that ended in Dec. 2010 was $24.55 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Tongxin International's Net-Net Working Capital per share for the quarter that ended in Dec. 2010 was $-2.37.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Tongxin International's Days Inventory for the six months ended in Dec. 2010 was 44.89.

Inventory Turnover measures how fast the company turns over its inventory within a year. Tongxin International's Inventory Turnover for the quarter that ended in Dec. 2010 was 4.07.

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. Tongxin International's Inventory-to-Revenue for the quarter that ended in Dec. 2010 was 0.23.

Tongxin International Total Inventories Historical Data

The historical data trend for Tongxin International's Total Inventories 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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Tongxin International Total Inventories Chart

Tongxin International Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec14

Total Inventories

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13.75

19.10

21.68

27.43

28.48

Tongxin International Semi-Annual Data
	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec14
Total Inventories	Get a 7-Day Free Trial			13.75	19.10	21.68	27.43	28.48

Tongxin International Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Tongxin International (OTCPK:TXIC) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Tongxin International's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2010 is

	Net-Net Working Capital Per Share (Q: Dec. 2010 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(9.935	+	0.75 * 13.191	+	0.5 * 27.425	-	72.918
-	0	-	0.055)	/	16.644
=	-2.37

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Tongxin International's Days Inventory for the six months ended in Dec. 2010 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2010 )	/	Cost of Goods Sold (Q: Dec. 2010 )	*	Days in Period
	=	24.552	/	99.821	*	365 / 2
	=	44.89

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Tongxin International's Inventory Turnover for the quarter that ended in Dec. 2010 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2010 )	/	Average Total Inventories (Q: Dec. 2010 )
	=	99.821	/	24.552
	=	4.07

4. 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.

Tongxin International's Inventory to Revenue for the quarter that ended in Dec. 2010 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2010 )	/	Revenue (Q: Dec. 2010 )
	=	24.552	/	106.461
	=	0.23

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Tongxin International Total Inventories Related Terms

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Tongxin International (Tongxin International) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Tongxin International Ltd (OTCPK:TXIC) » Definitions » Total Inventories

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Address

Hunan Tongxin, Changsha, Hunan Province, Jiangbei, CHN, 410135

Website

http://www.txicint.com

Tongxin International Ltd is an independent supplier of EVBS in China, is capable of providing EVBS for both the commercial truck and light vehicle market segments. EVBS consists of exterior body panels including doors, floor pans, hoods, side panels and fenders. Further, the company also designs, fabricates and tests dies used in the vehicle body structure manufacturing process.

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