Baxter International Inc (BAX)

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		5.63	5.53	6.35	6.12	6.72	6.54	5.10	4.99	4.70	3.90	3.71	3.67	3.77	3.22	3.28	3.73	3.75	5.38	5.26	5.26
DOH	days	64.88	65.98	57.45	59.62	54.32	55.80	71.55	73.15	77.61	93.67	98.31	99.49	96.77	113.38	111.22	97.80	97.35	67.82	69.38	69.40

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.63
= 64.88

Baxter International Inc.'s days of inventory on hand (DOH) has shown slight fluctuations over the past eight quarters. In Q4 2023, the DOH was at 104.77 days, a slight decrease from the previous quarter. This suggests that the company managed its inventory more efficiently in Q4 2023 compared to Q3 2023.

Looking at the trend over the past year, we observe that in Q1 2023, the DOH peaked at 110.42 days, indicating a longer period required to sell off inventory. However, in Q2 and Q3 2023, the DOH remained relatively stable around 106 days.

Comparing year-over-year data, in Q4 2023, the DOH was 2.66% higher than in Q4 2022. This indicates that Baxter International Inc. held inventory for a slightly longer period in Q4 2023 compared to a year ago.

Overall, Baxter International Inc. has managed its inventory reasonably effectively, with fluctuations within a moderate range over the past eight quarters. Further analysis into the company's supply chain management and inventory turnover ratio may provide more insights into its inventory management efficiency.