Axcelis Technologies Inc (ACLS)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 2.09 | 2.14 | 1.93 | 1.71 | 1.42 | |
| DOH | days | 174.98 | 170.74 | 189.29 | 213.04 | 257.70 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.09
= 174.98
The days of inventory on hand (DOH) for Axcelis Technologies Inc have shown a fluctuating trend over the past five years, decreasing from 257.70 days in 2019 to 174.98 days in 2023. This indicates an improvement in the company's ability to manage its inventory efficiently and convert it into sales.
A lower DOH value suggests that the company is carrying less inventory relative to its sales, which can lead to lower holding costs and better liquidity. It also implies that the company is selling its inventory faster, which is generally a positive indicator of operational efficiency.
However, it is important to note that DOH should be analyzed in conjunction with other metrics to get a comprehensive view of inventory management. Factors such as industry norms, seasonality, and market conditions should also be considered in evaluating the effectiveness of Axcelis Technologies Inc's inventory management strategies.
Peer comparison
Dec 31, 2023