Churchill Downs Incorporated (CHDN)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 5.53 | 4.46 | 4.24 | 4.20 | 4.90 | |
| DOH | days | 66.00 | 81.90 | 86.06 | 86.87 | 74.55 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 5.53
= 66.00
Days of Inventory on Hand (DOH) is a financial ratio that provides insight into how efficiently a company manages its inventory. Unfortunately, the provided data lacks specific values for DOH for Churchill Downs, Inc. for the years ending December 31, 2019, 2020, 2021, 2022, and 2023. As a result, a detailed analysis of the trend in DOH over these years cannot be conducted.
In general, a lower number of days of inventory on hand typically indicates more efficient inventory management. It suggests that the company is able to quickly sell its inventory, reducing carrying costs and potential obsolescence risks. Conversely, a higher DOH may signal inefficiencies in inventory management, such as overstocking or slow-moving inventory.
To provide a comprehensive analysis and assess the efficiency of Churchill Downs, Inc.'s inventory management, specific DOH values for the mentioned years are required. These values would allow for a comparison over time and relative to industry benchmarks to evaluate the company's performance in managing its inventory effectively.