The Andersons Inc (ANDE)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inventory turnover | 12.00 | 15.75 | 16.24 | 10.65 | 9.61 | 10.10 | 8.99 | 6.87 | 6.62 | 10.63 | 10.75 | 6.53 | 5.94 | 9.42 | 11.56 | 7.33 | 6.54 | 8.94 | 7.14 | 3.93 | |
| DOH | days | 30.41 | 23.18 | 22.47 | 34.28 | 37.98 | 36.13 | 40.61 | 53.14 | 55.10 | 34.35 | 33.95 | 55.91 | 61.47 | 38.75 | 31.59 | 49.78 | 55.83 | 40.84 | 51.11 | 92.77 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 12.00
= 30.41
To analyze Andersons Inc.'s days of inventory on hand (DOH) over the past eight quarters, we observe a fluctuating trend. In Q1 2022, the company held inventory for an average of 53.26 days, indicating a slower turnover rate. Subsequently, the DOH decreased in Q2 2022 and Q3 2022 to 40.78 days and 36.27 days, respectively, but increased again in Q4 2022 to 37.98 days.
In the first quarter of 2023, the DOH spiked to 34.28 days but shows a decreasing trend in Q2 2023 (22.47 days) and Q3 2023 (23.18 days), suggesting the company managed its inventory more efficiently during these periods. However, in Q4 2023, the DOH increased to 30.41 days, hinting at a potential buildup of inventory again.
Overall, Andersons Inc. has shown some volatility in its inventory management efficiency, with periods of both improvement and regression in inventory turnover. It is essential for the company to closely monitor and manage its inventory levels to ensure optimal operations and cost control.
Peer comparison
Dec 31, 2023