Analysis of Inventory
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
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Inventory Disclosure
National Oilwell Varco Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials and supplies | |||||||||||
| Work in process | |||||||||||
| Finished goods and purchased products | |||||||||||
| Inventories, net |
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
- Inventory Analysis over the Period 2011-2015
-
The overall net inventories show a rising trend from 2011 through 2012, increasing from 4,030 million US dollars to 5,891 million US dollars. Thereafter, a gradual decline is observed with net inventories reducing to 5,603 million in 2013, 5,281 million in 2014, and further down to 4,678 million by 2015.
- Raw Materials and Supplies
-
This component increased significantly from 907 million US dollars in 2011 to a peak of 1,268 million in 2012, followed by a slight decrease to 1,175 million in 2013. The value modestly rose again to 1,255 million in 2014 but then dropped notably to 1,069 million in 2015.
- Work in Process
-
Work in process demonstrated a small increase from 852 million in 2011 to 905 million in 2012. Subsequently, it reduced to 798 million in 2013, spiked notably to 1,027 million in 2014, and then fell sharply to 632 million by the end of 2015.
- Finished Goods and Purchased Products
-
This inventory category increased markedly from 2,271 million in 2011 to 3,718 million in 2012. Thereafter, it declined slightly to 3,630 million in 2013, and then demonstrated a steady decrease to 2,999 million in 2014 and 2,977 million in 2015.
- Insights
-
The initial increases in raw materials, work in process, and finished goods inventories between 2011 and 2012 indicate an expansion or buildup phase in inventory holdings. The peak of net inventories in 2012 followed by a consistent decline through 2015 suggests improved inventory management or possibly reduced demand leading to lower inventory levels. The sharp fluctuations in work in process inventories, especially the spike in 2014 followed by a significant drop in 2015, could point to operational adjustments or changes in production scheduling. The decline in finished goods following 2012 may reflect efforts to optimize inventory turnover or shifting market conditions.