Boyd Gaming Corporation (BYD)

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		28.70	23.67	22.75	22.01	22.83	23.29	24.30	24.69	25.25	25.83	25.04	22.84	29.52	30.11	31.20	40.70	33.31	-6.03	7.00	21.04
DOH	days	12.72	15.42	16.04	16.58	15.99	15.67	15.02	14.78	14.46	14.13	14.58	15.98	12.37	12.12	11.70	8.97	10.96	—	52.16	17.35

December 31, 2023 calculation

DOH = 365 ÷ Inventory turnover
= 365 ÷ 28.70
= 12.72

To analyze Boyd Gaming Corp.'s days of inventory on hand (DOH) over the past eight quarters, we observe a general trend of fluctuation within a relatively narrow range. The DOH metric measures the number of days it takes for the company to turn its inventory into sales, indicating the efficiency of inventory management.

In the most recent quarter, Q4 2023, Boyd Gaming Corp. reported a DOH of 4.39 days, showing a decrease from the previous quarter's 4.76 days. This decline suggests an improvement in inventory turnover efficiency during this period.

Looking further back, we note that DOH ranged from 4.39 days to 5.26 days over the past year. Although there were fluctuations, the variations were relatively minor, indicating some level of consistency in managing inventory levels.

It is essential for Boyd Gaming Corp. to monitor and manage its inventory effectively to avoid excessive holding costs and optimize cash flow. The decreasing trend in DOH in the most recent quarter is a positive signal, but the company should continue to focus on maintaining efficient inventory turnover to support overall financial performance.