Benchmark Electronics Inc (BHE)

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		3.76	3.62	3.54	3.45	3.62	3.38	3.50	3.56	3.92	4.07	4.60	5.27	5.74	5.32	5.24	5.91	6.61	7.02	7.28	7.48
DOH	days	97.19	100.82	103.01	105.85	100.96	108.03	104.14	102.59	93.19	89.58	79.35	69.32	63.62	68.56	69.67	61.72	55.20	52.01	50.15	48.82

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 3.76
= 97.19

Days of Inventory on Hand (DOH) is a crucial measure of how efficiently a company manages its inventory. A lower DOH indicates that the company is selling its inventory quickly and efficiently, while a higher DOH may suggest that the company is struggling to move its inventory.

Based on the data provided for Benchmark Electronics Inc., we can observe a fluctuating trend in DOH over the past eight quarters. In Q1 2022, the DOH was at its lowest point at 102.59 days, indicating efficient inventory management. However, there was a noticeable increase in DOH in subsequent quarters, reaching a peak of 108.03 days in Q3 2022 before slightly declining.

The downward trend continued in Q4 2022 and Q1 2023, although the DOH remained above the 100-day mark. By Q1 2023, the DOH stood at 105.85 days, suggesting a slower inventory turnover compared to the previous year.

Overall, Benchmark Electronics Inc. experienced fluctuations in its DOH, with periods of both improvement and deterioration in inventory management efficiency. It would be important for the company to monitor and potentially optimize its inventory levels to achieve a more stable and efficient operation.