Boyd Gaming Corporation (BYD)

Days of inventory on hand (DOH)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Inventory turnover		34.84	28.77	31.96	35.64	33.31
DOH	days	10.48	12.69	11.42	10.24	10.96

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 34.84
= 10.48

Boyd Gaming Corp.'s days of inventory on hand (DOH) has exhibited fluctuations over the past five years. In 2023, the DOH improved to 4.39 days from 5.17 days in 2022, indicating the company managed its inventory more efficiently. This suggests that Boyd Gaming Corp. was able to sell its inventory faster compared to the previous year.

Comparing to 2021, where the DOH was 5.12 days, the decrease is a positive sign of better inventory management in 2023. In 2020, the DOH was significantly higher at 7.96 days, indicating the company took longer to sell its inventory, which could have tied up more working capital.

Overall, the trend in Boyd Gaming Corp.'s DOH reflects improvements in inventory turnover efficiency in 2023 compared to the previous years, suggesting potential enhancements in inventory management practices.